Customers of Connective Elevate Home Loans: 9 November 2023

Effective Thursday 9 November 2023, all variable interest rates will increase between 0.25% and 0.35% for all existing Connective Elevate home loan accounts.

Connective Elevate carefully considers any changes to interest rates as we understand the impact on our customers.

For enquiries or assistance, please call 13 35 88

Terms and conditions, fees and charges, and lending criteria apply. Bluestone Servicing Pty Ltd (Bluestone) ACN 122 698 328 (Australian Credit Licence No. 390183) on behalf of the Credit Provider, Permanent Custodians Limited ACN 001 426 384. Distributed by Connective Credit Services Pty Ltd ACN 143 651 496 (Australian Credit Licence No. 389328) trading as Connective Home Loans

What is a Loan to Value Ratio?

Loan to Value Ratio (commonly referred to as LVR) is a financial term used by lenders to assess the risk of a mortgage loan. It’s a fairly simple calculation, dividing the amount you intend to borrow by the value of the property. 

A LVR 80% or lower is looked at favourably by lenders as the lending risk is lowered. A lower LVR is often rewarded by offering lower interest rates and removing the requirement of Lenders Mortgage Insurance (LMI).

Some lenders, like Bluestone Home Loans, offer loans with an LVR of up to 90%. The good news for Bluestone customers is that we don’t require LMI, event at 90% LVR. 

Learn more about how LVR works in our blog here. 

To find out the rate you’re likely to get, speak to your broker who will be able to guide you through the process and ensure you have all of the information you need.

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Have Questions?

We’re always here to help! Check out our full list of FAQs or get in touch with our team.

How are home loan repayments calculated?

Home loan repayments are typically calculated daily and paid monthly, based on the interest rate for the chosen term for the interest portion of your repayment. For your principal repayment, your initial borrowing rate is divided by the months or fortnights in your loan term. These two amounts are then added and repayed on your chosen schedule. Bluestone’s repayment calculator is only a guide, particularly because we assume your interest rate will remain fixed through the whole term of the mortgage, which is often not the case in Australia.

What other tools do you have?

We have a range of resources to help you understand your mortgages options in our insights section. We’re also working on a few more useful calculators for you in the background.

Does your repayment calculator consider any impact from an offest account? What about lump sum repayments?

At the moment, no, our calculator does not consider the impact of an offset account on interest accrued. So if you have an offset, assume you’ll be a little bit quicker to pay off your mortgage than the projections we share in the graph. For accurate repayment insights that consider strategies like paying lump sums and utilising an offset account, we recommend speaking to your broker or seeking professional financial advice.