Advantage Package Fixed Rate Investment Loan (Principal and Interest) 4 Years (LVR 60%-80%)
- Last updated on 15 Jul 2020
Discount Variable Home Loan
Make the move to UBank's award winning home loan
Advertised Rate
2.49%
Variable
Comparison Rate*
2.49%
Owner Occupier Discounted Variable Rate
No upfront or ongoing feesExtra repayments + redraw services
View NowPromotedUBank terms and conditions
Advertised Rate
3.14%
Fixed - 4 years
Comparison Rate*
3.98%
Maximum LVR
80%
Monthly Repayment
$1,288
based on $300,000 loan amount for 25 years
Pros and Cons
Pros
- No upfront fees
- Parents can sign as guarantor
- Extra repayments + redraw services
- Comes with a credit card
Cons
- Limited extra repayments
- Annual fee charged
- Discharge fee at end of loan
- Repayments won't decrease if RBA cuts rates
Bank of Melbourne Fees and Features
Maximum LVR 80% | Interest rate structure Fixed - 4 years |
Borrowing range $150k - $100m | Total Repayments $463,680 |
Principal & interest | Interest only |
Loan term range 1 - 30 years | Offset account Partial offset account |
Extra repayments Allowed with restrictions | Redraw facility Redraw fee: $0 |
Allows split interest | Suitable For Investors |
Applicable States ACT, NSW, NT, QLD, SA, TAS, VIC, WA | |
Total estimated upfront fees $0 | Application fee $0 |
Settlement fee $0 | Valuation fee $0 |
Legal fee $0 | Other upfront fee $0 |
Ongoing fee $395 annually | Discharge fee $350 |
Property Type | SMSF Trustee |
Minimum SMSF Amount |
Compare and review home loans with similar features
Bank of Melbourne is an Australian bank, based in Victoria. With headquarters in Melbourne, the bank has 106 branches spread across the state.
Although Bank of Melbourne was established in 1989 as an independent organisation, it has been part of the Westpac Group since 1997.
Bank of Melbourne, or BoM as it is also known, offers a wide range of home loans, both through its branch network and through mortgage brokers.
