The bcu Max Discounted Loan allows borrowers to manage their home loan easily and simply while paying a low, discounted rate of variable interest.
Borrowers are charged nothing to make extra repayments on their premium, which allows them to take advantage of the discounted rate and reduce their loan premium more quickly. These repayments are accompanied by a redraw facility, which gives borrowers the ability to manage their finances with freedom while paying off their loan.
The Max Discounted Loan also provides borrowers with a 100 per cent offset account, which allows them to deposit funds that reduce the amount of interest paid.
The loan offers a longer than usual maximum term, and small deposits are welcome. Borrowers should note, however, that the Max Discounted Loan requires the largest deposit of any of bcu’s home loans.
A mortgage secured line of credit can also be attached to the Max Discounted Loan to allow borrowers access to the equity in their home for investment or spending purposes.
The bcu Max Discounted Loan suits borrowers who don’t mind paying a bit of extra interest provided they receive flexible features. It allows borrowers to refinance quickly while paying an interest rate that can be further reduced. Investors or first time home-buyers may find its suite of features useful.
The bcu Max Discounted Loan offers borrowers flexible features, no ongoing fees – but at a moderately high rate of interest along with entry and exit fees.
Though, it is designed to make refinancing simple and straightforward by way of additional repayments, a 100 per cent offset account, and a redraw facility. As such, it may appeal to a wide range of borrowers.
The bcu Max Discounted Loan offers a wide range of options, including investment loans and loans featuring a line of credit.