Express Home Loan (Principal and Interest)
- Last updated on 29 May 2020
Discount Variable Home Loan
Make the move to UBank's award winning home loan
2.59%
Variable
2.59%
Owner Occupier Discounted Variable Rate
2.89%
Variable
3.06%
$1,039
based on $300,000 loan amount for 25 years
Pros
- 100% full offset account
- Extra repayments + redraw services
- Free redraw facility
- Repayments may decrease if RBA cuts rates
Cons
- Repayments may increase if RBA raises rates
Maximum LVR 80% | Interest rate structure Variable |
Borrowing range $5k - $100m | Total Repayments $374,040 |
Principal & interest | Interest only |
Loan term range 0 - 30 years | Offset account 100% offset account |
Extra repayments Unlimited extra repayments | Redraw facility Redraw fee: $0 |
Allows split interest | Suitable For Owner Occupiers |
Applicable States ACT, NSW, NT, QLD, SA, TAS, VIC, WA | |
Estimated upfront fees $384 | Application fee $250 |
Settlement fee $0 | Valuation fee $134.2 |
Legal fee $0 | Ongoing fee $10 |
Discharge fee $0 | Property Type |
SMSF Trustee | Minimum SMSF Amount |
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Bendigo Bank is an Australian financial institution headquartered in Bendigo, Victoria. Bendigo Bank is a part of the Bendigo & Adelaide Bank Group, which began in 1858 from two building societies. Bendigo Bank now serves over 1.5 million customers in over 500 communities Australia-wide.
Bendigo Bank provides a range of home loans, including mortgages for first time home buyers, investors and upgraders, in addition to low-doc loans and green loans, which reward customers for sustainable building practices.
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FAQs
The standard variable rate (SVR) is the interest rate a lender applies to their standard home loan. It is a variable interest rate which is normally used as a benchmark from which they price their other variable rate home loan products.
A standard variable rate home loan typically includes most, if not all the features the lender has on offer, such as an offset account, but it often comes with a higher interest rate attached than their most ‘basic’ product on offer (usually referred to as their basic variable rate mortgage).
Also known as a construction home loan, a building in course of erection (BICOE) loan loan allows you to draw down funds as a building project advances in order to pay the builders. This option is available on selected variable rate loans.