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Frequently asked questions

Please see below a list of Frequently Asked Questions compiled by our customer services team.

  • What are my account details?
    As soon as you loan settles we shall provide you a welcome pack which has all the details you need including your account numbers. However, if you are still unsure please contact us.
  • Does Allstate have any branches?
    Allstate Home Loans doesn't have any shopfronts or branches. We have been operating without branches for over 17 years which helps keep our costs down and enables us to offer competitive interest rates and no ongoing fees. We provide secure internet and phone banking to enable you to access your home loan accounts in the comfort of your home and at a time that is convenient to you. Our service consultants can be contacted during standard business hours Monday to Friday on 1800 101 368.
  • Who is and where is Allstate located?
    To find out more about Allstate, please visit the home page on this website. Allstate's head office is located in Brisbane, Queensland Australia. All functions related to the origination and management of our home loans is managed in the head office. Our call centre is also located in our head office.
  • Does Allstate lend to investors as well as owner occupiers?
    Yes we do! You may have fixed, variable or interest only options for your loan. We also consider multiple securities when applying for a loan. Our investment loans are at the same interest rate as our owner occupied home loans.
  • Does Allstate have a construction loan?
    Yes we do! Subject to you meeting our loan assessment criteria, we will be able to assist you in constructing your home. Our Constructions team is very well experienced and will ensure you are kept up to date at each stage of construction. Visit our product page to find out more on our construction loan product.
  • What is the difference between Principal & Interest and an Interest Only home loan?
    Normally when a term loan is established, the repayments are set up as Principal and Interest. This means that for every repayment required on the loan, the amount will be made up of interest on the loan as well as some of the principal balance of the amount you borrowed. If you choose Interest Only, you will only be repaying the interest on the loan. You won't be reducing the loan amount that you borrowed. For example, if you have a $200,000 home loan as interest only for 3 years. You make the required monthly repayments and at the end of the 3 years, your loan balance is still $200,000 because you have only been paying the interest. Interest Only is ideal for investment loans or if a borrower is wishing to have lower repayments for a set period.
  • How is Interest Calculated?
    Interest is calculated daily on the outstanding debit balance of the home loan and charged monthly. You can reduce your interest by making additional repayments into your loan to reduce the balance and you will still have access to those funds through redraw. If you have a line of credit account the interest is calculated daily only on the outstanding debit balance, not the credit limit.
  • Does my loan have a redraw facility?
    Most of Allstate's Term Loans have a redraw facility available which allows you to redraw any additional repayments you have made. Redraws can be processed online through internet banking or phone banking at no cost, as often as you like, whenever you need the funds. If you would like Allstate to process a redraw for you, a manual redraw fee may apply. Also note, that some products may have a minimum redraw amount and may restrict redraws while the loan is on a fixed interest rate. Contact one of our Customer Service team on 1800 101 368 or email us if you need assistance or would like to know more.
  • What is Lenders Mortgage Insurance?
    For most standard products, if you borrow more than 80% of the property's value (% can vary depending on product) you will be required to pay a mortgage insurance premium. This premium is calculated as a percentage of the loan amount you borrow. Mortgage Insurance protects the lender in the event that you cannot repay your loan and the lender may incur a loss as a result.
  • What happens after my loan has settled?
    Your solicitors will advice you when your loan has settled. We will prepare a settlement pack which will be sent to you within a few days of settlement confirming your loan details. If you have a home loan with an access card, you will receive the access card and password in 7-10 days after settlement. We also give you a call within the first few weeks after settlement to answer any queries you may have about your loan. If you have any queries about your new loan you can call us on 1800 101 368.
  • How do I refinance my existing loan to Allstate?
    If you are refinancing your home loan, you can apply online and select refinance as an option at the start. We will process your application as normal and we will liaise with your existing lender to arrange the transfer of the loan over to Allstate.
  • Can I split my home loan?
    Yes, you can split your loan, however terms and conditions do apply. A split loan can be beneficial if you want some security in your loan repayments by having half of your loan on a variable rate and the other half on a fixed interest rate. You can choose the percentage or the amount you want in each loan split.
  • Am I eligible for the First Home Owners Grant?
    If you or your spouse have never owned a property or have never claimed the grant previously, in most cases you will be eligible. To find out more about the First Home Owners Grant, go to the Office of State revenue website in your state.
  • But I have been offered a lower interest rate?
    It is very important to compare 'like' with 'like'. A lower interest rate doesn't mean the loan product will have all of the features you require. Check if the product is a basic product. Basic products normally only allow a limited number of features and if you require added features, you have to pay for each extra feature. With Allstate's products you can be assured that you are getting a fully featured loan product at a competitive interest rate. You also need to check that a loan with a lower interest rate doesn't have ongoing monthly or annual fees, as lower interest rates often have an annual fee.
  • How can I access Internet Banking?
    You can find the link to your Internet Banking on our Home Page. It's easy as entering your username and password that you received when you registered and logging in. If you are yet to register then please contact our Client Services team on 1800 101 368 or alternatively visit our contact us page.
  • Why is the interest amount on my account higher some months than others?
    Interest is calculated on the daily balance of your loan and the number of days in some months differs. For example, there are 28 days in February and 31 days in December. Also, the number of weeks in a month might differ as well, so if your Direct Debit is set up to be deducted weekly rather than monthly, there may be 5 weekly repayments credited in a month thus reducing the balance compared to only 4 weekly repayments the following month.
  • Can I switch from a variable to a fixed rate at any time?
    You may be able to switch from a variable rate to a fixed rate depending on your loan product (Line of Credit products do not offer fixed rates). If fixed rates are available for your loan, then at any time after settlement you have the option of fixing all or part of your loan. You need to remember that costs may apply if you break your fixed contract before the end of the fixed term and a fee may apply initially to convert your interest rate to a fixed rate.
  • Can I make extra payments on my loan?
    You may make extra repayments on your variable interest rate loan at no extra charge. In fact we encourage this, as the more you pay the sooner you will own your home. If you have a fixed loan you can still make extra repayments, however some products limit this to a certain amount before you are charged a nominal fee. Most fixed rate loans allow lump sum payments of between $10,000 and $20,000 before a fee is charged.
  • Can you let me know what my repayments are if I lock my loan in for a fixed rate?
    Please call us on 1800 101 368 to speak to one of our Customer Services team members to determine what your repayments would be. We will need to take into account the number of years you have remaining on your loan, the fixed interest rate & your loan balance. Or alternatively contact us with your query.
  • Why is my loan balance not decreasing?
    Check with Allstate to see if your loan is on Interest Only or Principal & Interest repayments. If you elected to pay Interest Only, then you are only paying the interest portion of your loan, not the principal which is why you would not see your loan decreasing. A revolving Line of Credit account is similar to this as well where your initial account limit is available for the term of the loan and each month you are required to cover ONLY the interest charged. It is up to you to ensure that you deposit extra funds to reduce the balance and eventually repay the loan.
  • Why was I charged interest on my VISA?
    Depending on the type of VISA account you have, you may be charged interest for any cash advance. If the full closing balance for the previous month was not paid by the due date interest may be charged.
  • What does 55 interest free days mean?
    Not all of Allstate's credit cards offer 55 days interest free. However credit cards with up to 55 days interest free means that when you purchase on day one of your statement period you will get 55 days interest free on that transaction(s), the second day the remaining interest free period will reduce to 54 days. If you purchase on the statement closing date of your statement period, you will only be entitled to 26 days interest free. However, if you withdraw cash and do not pay the full closing statement balance or do not pay on the due date, you will incur interest charges.
  • Do I have to go through a broker to get an Allstate loan?
    All of our customers have the option to apply for a Allstate loan via one of Allstate's accredited mortgage brokers or finance professionals, or alternatively visit our Allstate website, where you can apply for a fast pre-approval online. Otherwise you are welcome to call us on 1800 101 368 and we will be happy to assist you.


We will lend you money:

to buy a residential property;

to buy a residential investment property;

to refinance an existing mortgage;

to refinance an existing mortgage and consolidate your other debts;

for investment purposes (other than property) where you provide enough equity in property as security For any home loan, residential property must be offered as security.

Pre-approval is a conditional approval based on your ability to repay a loan. This means that you can search for a home, knowing how much the bank can lend you. To apply for pre-approval, download an application form or call us on 1800 101 368.


It depends on your circumstances and your outlook. Fixed rates are usually a little higher than variable rates so you have to weigh up the alternatives ie comparative cost of each option, the requirement you have for certainty in your repayments, what you believe rates will do in the future, and the question of how long to fix for. Fixed rates have the benefit of giving you full knowledge of what you repayments will be over the term you fix however they also have a number of disadvantages. These include:

There is limit to the amount of extra repayments that can be paid off the loan each year. This is limited to 20K over your agreed repayments.

There may be significant break costs if you have to break the fixed rate period before its expiry date ie if you decide to refinance or sell the security property.

The fixed rate is usually set at time of settlement – not at the time the rate is quoted to you at the beginning of the arrangement of the loan.


A fixed interest rate does not vary for the fixed rate period, so payments remain constant for this period. A variable interest rate may vary according to market conditions, and may increase or decrease at any time. Your loan payments will change accordingly to reflect this change in interest rate.