Key facts sheet frequently asked questions

What is a Home Loan Key Facts Sheet?

Home Loan Key Facts Sheets are part of the Australian Government’s banking reforms, which come into effect on 1 January 2012.

Home Loan Key Facts Sheets are presented in a standardised format used by all financial institutions, therefore allowing customers to compare CUA home loan products against those available from competitor institutions. The Key Facts Sheet highlights important information, such as the total amount to be paid back over the life of a loan, and what the expected repayment is for every dollar borrowed.

What are the benefits of the Home Loan Key Facts Sheet?

You will be able to visit any financial institution, request a Home Loan Key Facts Sheet and be confident that you will be able to easily compare CUA home loans against those available from other institutions.

Which CUA products are covered by the Home Loan Key Facts Sheet legislation?

All CUA home loan products that are being used wholly or predominately to purchase or refinance a residential property will have a Key Facts Sheet available. These products include:

1 Year Introductory Variable
Basic Variable
Discount Variable
Standard Variable
Premium Fixed (1, 2, 3 and 5 years)
Fixed (1, 2, 3, and 5 years)

The requirement to provide a Key Facts Sheet only applies to variable and fixed rate loans with principal and interest repayments. It does not apply to interest only facilities or split loans.

Is a Home Loan Key Facts Sheet available for commercial loans?

No. Home Loan Key Facts Sheets are available for new home loans for residential purposes only.

Is a Home Loan Key Facts Sheet available for loan top-ups?

No. Key Facts Sheets are only available for customers who are enquiring about entering into a new home loan, not for topping up an existing loan.

Will I be locked into a contract if I request a Home Loan Key Facts Sheet?

No. The Home Loan Key Facts Sheet is not personalised in any way and is purely for enquiry on home loan products. CUA encourages you to have discussions with one of our lending specialists to determine the best loan for your circumstances.

Will the Home Loan Key Facts Sheet provide me with all the details I need about a loan?

No. The Home Loan Key Facts Sheet is a legislated document used to disclose certain home loan product information. It does not provide complete details about the home loan. Each product has a different purpose and the Key Facts Sheet provides an initial snapshot of the loan. If you are interested in applying for a loan, CUA will advise you to have more detailed discussions with one of our lending specialists who will do their best to find a product that best suits your needs.

Can I use the Home Loan Key Facts Sheet as pre-approval for a home loan?

No. The Home Loan Key Facts Sheet is not a binding contract, nor can it be used as pre-approval for a home loan. The Key Facts Sheet is an enquiry of home loan products and is not personalised. If you wish to apply for pre-approval for a home loan, CUA encourages you to enter into discussions with one of our lending specialists.

Does the Home Loan Key Facts Sheet show the benefit of having an offset account against my home loan?

No. The Home Loan Key Facts Sheet does not display the benefit of an offset account. To determine if a particular home loan has an offset facility, CUA encourages you to discuss this with one of our lending specialists.

How can I get a Home Loan Key Facts Sheet?

On any applicable home loan page on this website
Drop into your local CUA branch.
Call 133 282.
Ask your CUA mobile banker.