Quick Summary
Founded
1970
Owned by:
Customers
Funded by:
Alliance Bank Network
LMI Provider:
QBE LMI, Helia (formerly Genworth)
Lender type:
Banks, Customer Owned
Service One Alliance Bank is a 100% customer-owned mutual (and social) enterprise that exists solely to improve the lives of its members and people in the surrounding community.
The bank provides members with access to competitive financial, banking, and community services that offer value to their lives. It puts its money into projects that have a positive social or environmental impact and a financial return.
Service One Alliance Bank provides a wide range of financial services and products, including home and personal loans, banking accounts, Visa cards, and investment and insurance products.
How Do Service One Alliance Bank’s Home Loans Compare?
Pros
- Discounted rates for lower LVR
- Rate lock
- 100% offset and redraw facilities
- 95% LVR home loans
- Extra repayments with no fees
- Option to split with a fixed-rate home loan
- Access to a range of calculators on its website
- >Home loan key facts sheet that compares different lenders
Cons
- Poor service/ communication
- You have to become a member by paying $10
What Home Loans Does Service One Alliance Bank Have?
If you’re thinking of building your dream home, most Service One Alliance Bank home loans are available for construction purposes. You’ll get a low interest rate and the freedom to customise your loan. There are also loan options if you plan to buy a home to live in and purchase investment properties.
Service One Alliance Banking service offers:
- Owner-occupier home loans
- Renovation loan
- Family assist/guarantor home loans
- Bridging loan
- Kit home or other construction loans
It’s also easy to refinance an existing home loan with another lender to a Service One Alliance Bank home loan.
Tips For Applying With Service One Alliance Bank
Application forms are available for download on the official website. You can call the Telephone Response Centre if you have any queries about using these forms or how to fill them out.
You must first become a Service One member before applying for a home loan. Adults and juniors (those under the age of 18) are eligible to apply.
You will require the following paperwork to apply for a mortgage:
- Material for personal identification
- Proof of income that shows whether you are self-employed
- Evidence of other sources of income, such as rental income
- Information regarding your current debts, liabilities, and assets
Let Us Help You Decide
Still not sure if a Service One Alliance Bank is right for you? Talk to one of Home Loan Experts’ specialist mortgage brokers.
We’ll discuss your situation and perform a pre-assessment to determine the best lenders for you. Give us a call on 1300 889 743 or fill in our free online enquiry form.