Australian Financial Balanced Loan

Features

The Balanced Home Loan package offered by Australian Financial requires only a small deposit and offers a number of facilities designed to help borrowers entering the home market for the first time, though flexible enough for and available to investors and refinancers.

One these features that is particularly suited for first home buyers is family guarantee, whereby a parent can act as a guarantor on your loan and secure a portion of it, which could even save you from having to make a deposit or pay for lenders mortgage insurance for deposits under 20 per cent.

The variable interest rate on this loan is high, however, one of the features that could be attractive to all types of borrowers is the 100 per cent offset account. This gives you the chance to directly offset your interest with your savings deposited into this account.

Flexible repayments on either weekly, fortnightly, or monthly schedules and early repayments can be made at any time to help you reduce your loan balance. A redraw facility is also provided in case these funds are needed elsewhere, with no caps or fees applying to redrawing.

Interest-only repayments are also available with the Balanced Home Loan, providing you with even greater control over how you manage your mortgage.

Who is the Australian Financial Balanced Loan good for?

With its low minimum deposit and flexible features, the Australian Financial Balanced Home Loan will suit first time buyers who are hoping to have a range of options for managing their mortgage.

Its various repayment options and offset account may also appeal to other buyers, such as owner-occupiers or investors who are looking for a straightforward loan that will allow for good control over its management.

Review - What RateCity says

The Balanced Home Loan from Australian Financial presents you with the appealing combination of a low minimum deposit and a range of flexible repayment features that will allow you to exercise a good deal of control over how you’ll manage your mortgage.

The flexible repayment options and extra repayments could fit many different styles of income, while the 100 per cent offset account and interest-only repayment options could give you the opportunity to closely control how much interest is paid over the life of your loan.

It is a straightforward loan that may provide a strong set of features for borrowers looking for freedom, flexibility, and control and could be worth taking a closer look.

Australian Financial Balanced Loan Options

The Australian Financial Balanced Loan offers a range of options designed to accommodate the needs of a variety of borrowers.

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Variable Rates from

5.39%

Advertised rate

5.69%

Comparison rate
Pros
  • 100 per cent offset account.
  • Small deposit requirement.
  • Lump sum, early repayments and redraws allowed.
Cons
  • High variable interest rate.
  • High upfront fee.
  • Discharge and ongoing annual fees.
Eligibility

Must be over 18 years of age.

Must be able to provide proof of income.

Must meet minimum deposit requirement.

 

Suitable For
  • First Home Buyers
  • Investors
  • Owner-Occupiers
  • Refinancers
  • Line of Credit Loans
Fees
  • Estimated upfront fees: $960.00
  • Discharge fees: $550
  • Ongoing fees: $395 annually

If you sign up for the Balanced Home Loan with Australian Financial, you should be prepared to pay a high amount in upfront fees, a large ongoing annual fee and a moderately high discharge fee that will also be payable at the time of your loan's termination.

Features
  • Redraw facility
  • 100% offset account
  • Unlimited extra repayments
  • Weekly repayments
  • Fortnightly repayments
  • Monthly repayments
About Australian Financial

Australian Financial devotes itself to the vision of helping its borrowers acquire Australian property. Founded 20 years ago, it offers a variety of standard and non-standard mortgage products to its customers.

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