Term Loan

We offer residential, rural or commercial property loans
or you may refinance an existing loan.

Property is likely to be the largest purchase you make. Midlands offers interest-only term loans at competitive rates with flexible terms and repayments based on a schedule to suit your needs.

Talk to us today to discuss your requirements.


Interest only loans enable you to make repayments that cover the interest based on a repayment cycle of your choice.  If you are entitled to tax deductions on your interest payments, the entire installment can be deducted as there is no part of the payment that is reducing the principal amount of the loan.


We are happy to transfer a mortgage from one property to another, providing the new property can support the level of debt and you can continue to meet our servicing requirements.  We are not legally obligated to allow you to transfer your mortgage but all reasonable requests will be considered.


We offer floating interest rates, comprising a base rate plus a margin (based on our assessment of individual borrower and security risk); these rates are subject to our assessment of market forces and can fluctuate regularly.

Base Rates effective 14 August 2022:

Residential    8.10%p.a

Commercial   8.35%p.a

Rural              8.20%p.a


Most loans considered by Midlands have terms ranging from 18 months – 3 years. Terms may be varied to suit your requirements.

For full fee schedule as of 1 February 2022, please click here.

Term loan FAQs

Anyone wanting money for residential, rural or commercial property where security is provided by a first mortgage over that property. However, we do not provide consumer lending (CCCFA).

This is based on individual circumstances, however you can generally borrow up to an amount where the interest is to be between 20% and 30% of your income.  A valuation of your property will be required to determine the limit to which a loan can be granted.

Our lending guidelines limit borrowing amounts against property values, as follows:

  • Owner occupied home loans 75% LVR
  • Farms 60% LVR (except for dairy farms at 66.67%)
  • Commercial property 66.7% LVR
  • Bare land and approved leasehold securities 50% LVR

Your monthly repayments are based on the terms of your loan.

Yes. The terms of your loan state how you can make partial or full repayments.

A typical fee from 1.50% of the loan amount with a minimum of $1,450 is payable to Midlands on acceptance of any, offer.  There are also legal fees incurred by the Fund for putting your mortgage in place and you will have your own lawyer’s legal fees to pay. View our full fees info here, (as at 1 February 2022)

Our interest rates are floating and dependent on our assessment of current market conditions. As well as our assessment of individual borrower and security rate.

Midlands does not offer consumer credit (CCCFA) loans.

We recommend you take independent advice from a trusted lawyer or financial adviser.


Get in Touch with Us​

If you have any questions or would like to know more about Midlands and what we can do for you, please get in touch.