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Hunter United Low Fixed Rate Loan

Features

Hunter United’s Low Fixed Rate Loan offers different interest rates depending on the length of your fixed rate period. After this fixed term expires, the loan will revert to Hunter United’s basic variable rate.

You have the ability to make additional repayments during your fixed rate term, but the amount of additional money you can pay in is capped at three per cent of the original loan amount. If you exceed this amount you will incur break fees and these can run into thousands. There is no redraw facility with this loan.

Once your loan reverts to Hunter United’s Basic Variable Rate Loan, you are able to make additional repayments without penalty. You will also be able to redraw extra money without penalty.

Be aware however, that your interest rate will no longer remain the same and you may find your repayments become higher.

Who is the Hunter United Low Fixed Rate Loan good for?

The Low Fixed Rate Loan is good for you if you would like certainty around how much of your loan you will be paying off, especially in the early stages of your loan repayments. This can help in managing your money and planning your financial future – the more clarity you have around your cash flow the better. This loan is applicable for first home buyers as well as investors, and refinancing owner occupiers.

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Hunter United’s Low Fixed Rate Loan is a viable option if you’re looking for certainty as you enter the property market, or for planning financing around an investment property. It is wise to ensure you have a plan in place for what you intend to do once your loan transitions from the fixed rate period to the variable rate loan. With some careful forward planning this loan can allow you to start easily, and then ramp up your repayments later on to reduce your loan amount and save yourself money.

Hunter United Low Fixed Rate Loan Options

The Hunter United Fixed Rate Loan gives you predictability over your repayment amounts for a period of one to three years. Click below to find a fixed rate home or investment loan.

Product
Advertised rate
Comparison rate*
Monthly repayment
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Details
Details

Fixed Rates from

4.08%

Advertised rate

4.58%

Comparison rate
Pros
  • Competitive fixed interest rate.
  • Ability to make some additional repayments.
  • Can make repayments weekly, fortnightly or monthly.
Cons
  • No offset account or redraw facilities available during the fixed rate period.
  • Moderate fees.
  • Investors will require a minimum deposit of 20 per cent.
Eligibility

Minimum borrowing amount $100,000.

Deposit required of five per cent.

Must be a member of Hunter Union Credit Union.

Suitable For
  • First Home Buyers
  • Investors
  • Refinancers
  • Owner-Occupiers
Fees
  • Estimated upfront fees: $350
  • Discharge fees: $80
  • Ongoing fees: $8 monthly

While there is no annual fee with this loan, Hunter United’s Fixed Rate Loan comes with an application fee and in some cases, an establishment fee and a valuation fee.

Like all fixed rate loans, break fees apply if you pay out your loan early or make additional repayments in excess of three per cent of your original loan amount.

Hunter United also has a Member Fee Rebate Reward program, where you can get some of your fees refunded.

Features
  • Redraw facility
  • 100% offset account
  • Unlimited extra repayments
  • Weekly repayments
  • Fortnightly repayments
  • Monthly repayments
About Hunter United

Hunter United Credit Union has been operating in the Hunter region of New South Wales. They offer mobile lending options as well as phone-based customer support operating six days a week. They also have online banking services available at any time.

Their branch network is small, however, Hunter United customers can use Westpac and St George ATMs allowing you to access your funds via around 3000 outlets Australia-wide.

Be aware that you must be a member of Hunter Union Credit Union to borrow from them however this happens when your loan application is accepted and you begin to bank with them.

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