Freedom Lend Freedom Loan

Features

Owner-occupiers and investors both have access to the Freedom Lend Freedom Loan, whether you’re purchasing or refinancing, constructing, consolidating debt or buying off the plan.

If you like the flexibility a variable rate loan provides, then this option may be for you, especially since the Freedom Loan has very low to moderately low variable interest rates, depending on the amount you borrow.

The fixed rate option also offers very low and moderately low rates, depending on your fixed term and borrowing amount.

Freedom Lend also offers you the option to split your loan into variable and fixed rate portions so you can take advantage of the benefits of each type of rate.

Principal and interest repayments on the Freedom Loan are made to be flexible in line with your income and budget, since they can be made weekly, fortnightly or monthly. Repayments during an interest-only period can only be made on a monthly basis.

You can make any number of early repayments you’d like on the variable portion of your loan, or if your entire loan is on a variable interest rate. Customers on a fixed rate however can only make limited extra repayments during the fixed term.

Similarly, Freedom Lend offers an offset account and a redraw facility for customers on a variable rate but not for those on a fixed rate.

You only need to make a small deposit on your property for this loan of five per cent however if you do make a deposit of less than 20 per cent, you’ll need to pay lenders mortgage insurance.

If you’re interested in this loan, make sure you meet the eligibility criteria which includes a minimum loan borrowing amount of $150,000.

Who is the Freedom Lend Freedom Loan good for?

The Freedom Loan is available to a range of different borrowers and has options to suit a huge range of needs – particularly those home owners looking for low interest rate.

Freedom Lend is a completely online lender, so this loan would be most suitable for people who prefer to manage their home loan online and don’t mind if they have access to face-to-face service via branch access.

Review - What RateCity says

The relatively low interest rates offered by Freedom Lend is an attractive starting point for people considering this loan. With the variable option it also offers a number of features such as an offset account and a redraw facility that provides you with flexibility often associated with higher-interest rate products.

However, the annual fee is a little surprising, so it’s a good idea to calculate what you will end up paying to see if this fee outweighs the main advantage of the Freedom Loan’s low interest rates.

Freedom Lend Freedom Loan Options

Freedom Lend offers a range of home loans for owner-occupiers and investors with its Freedom Loan. Find the one that suits you at one of the links below.

Pros
  • Low fixed and variable rates.
  • Interest-only repayment option.
  • Loan split option.
Cons
  • Moderate annual fee.
  • Limited features for fixed rate customers.
  • No branch access.
Eligibility

Must be borrowing at least $150,000.

Must be able to provide proof of income.

Must be over 18 years of age.

Must meet lender’s criteria.

About Freedom Lend

Freedom Lend is an Australian-owned online lender.

Based in Melbourne, it does not have any branches however they can set up meetings via Skype or a schedule a meeting in its Melbourne headquarters.

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