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Wednesday, 19 August 2015 01:00

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Interest Only Home Loan

An Interest Only home loan is a great option for investment properties or bridging loans.

4.97% pa 5.00% pa1
Apply Online Make an Enquiry 1800 10 10 63

Our Interest Only variable rate home loan can be useful for investors who can claim the interest as a tax deduction, or buyers who only plan to hold onto a property for a short period, like bridging between loans.

If your loan is for investment purposes, you’ll only need 20% deposit which will exclude the need for mortgage insurance on your loan.

  • Competitive rate
  • Only 10% deposit required for owner occupiers
  • 20% deposit for investors
  • 1 free redraw per month. to access equity in your loan
  • Fee free account – no monthly or annual fees
  • Choose weekly, fortnightly or monthly repayments

 

 

Additional Product Links:


Interest Only Loan
Product Information
Variable Interest Rate4.97% pa
Comparison Rate5.00% pa1
Minimum Amount$100,000 
Loan PeriodUp to 5 yrs
Max LVR90%2
Repayment FrequencyMonthly, Fortnightly, Weekly
Interest ChargesCalculated daily, charged monthly
Variable and Lump Sum RepaymentsYes 
Auto RepaymentsYes 
Additional Repayments AcceptedYes 
1st Home Buyers EligibleYes 
Eligible for Discounted Credit Card RateYes 
Repayment Holiday OptionYes 
Redraw FacilityYes 3
Offset AccountNo 
Eligible for Rebate RewardYes 
Fees and Charges
Application Fee$350 
Establishment Fee At cost
Valuation FeeAt cost
Monthly Fee$0 
Annual Fee$0 


 

1 The comparison rate is calculated on a secured loan of $150,000 for a term of 25 years. WARNING: This comparison is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

2 Maximum LVR stated is for owner occupied loans. A maximum LVR of 80% is applicable for investment loans. If loan is above 80% LVR lenders mortgage insurance will be payable.

3 Fees apply.