A special discounted variable rate home loan which can be used to purchase your own home or an investment property. After the first year, the loan can then be converted to an additional two year discounted rate period with either our standard variable rate with a 0.25% discount or a fixed rate with a 0.20% discount, from the prevailing rates at the end of the first year. This loan then automatically converts to our standard variable rate Homebase loan, after three years.
| Minimum amount | $50,000 |
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| Maximum amount | $2,000,000 |
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| Monthly fees | None |
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| Purpose |
Purchase or construct owner occupied dwelling or investment property. Refinance. |
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| Maximum term | 30 years, shorter terms available |
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| Repayments | Principal and interest, interest only
Frequency: Fortnightly or monthly |
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| Property requirements |
Registered First Mortgage over Torrens, Strata or Old System title. Company title only in exceptional circumstances. |
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| Loan-to-Property Valuation Ratio (LVR) |
- Maximum Loan-to-Property Value 95%.
- Lenders Mortgage Insurance required if Loan-to-Property Value Ratio exceeds 80%.
- For refinance transactions, maximum LVR of 90% including Lenders Mortgage Insurance Premium.
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| Specific fees |
- Establishment Fee $745 (Conditions Apply).
- An Early Repayment Fee (ERF) of 0.75% of the peak loan amount applies if repaid in full during the first three years. Additional repayments are limited to $25,000 p.a. during the first 3 years and an An Early Repayment Fee may apply for repayments greater than this amount.
- An Early Repayment Adjustment may also apply if repaid during any fixed rate period.
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| Other characteristics |
- The Homebase Low Rate Loan is available for new business only.
- 100% loan offset not available.
- Redraw is available.
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