loans.com.au Move Fast Loan

PLEASE NOTE: This product is no longer available.

The loans.com.au Move Fast product offers the company’s lowest possible variable rate, plus a range of features suited for owner occupiers, first home buyers and refinancers.

For example, the loan includes access to unlimited free redraws with no minimum redraw amount and limitless additional repayments on variable rate home loans. Repayments can be made weekly, fortnightly or monthly.

loans.com.au also offers a Comparative Market Analysis (CMA) property report, which provides information about the property you’re considering including previous sale prices, median house prices and local community demographics.

Fixed rate loans offer a split loan facility which allows you to keep part of your loan on a variable interest rate, with up to five free splits.

Some loans can also receive a conveyancing voucher where conditions apply.

Be mindful that this loan has a relatively low maximum borrowing amount so people looking to borrow over half a million dollars will have to pick a different product.

Who is the loans.com.au Move Fast Loan good for?

This loan targets owner-occupiers and isn’t available to investors. People looking to refinance are also eligible for this loan.

loans.com.au also assigns every customer a personal lending manager who is the point of contact from application to settlement. This might make it ideal for first home buyers looking for guidance through their purchasing experience.

As the company is entirely online, it usually has a fairly quick application process, meaning buyers can generally gain approval and access to funds faster than other institutions.

Review - What RateCity says

This product’s key advantage is the extremely low interest rate, which makes repayments more accessible for some buyers. Loans.com.au runs a low overhead organisation and passes this on to buyers with extremely low interest rates, which means cheaper repayments.

The unlimited free redraws gives borrowers flexibility to meet unexpected costs with their home loan. A personal lending manager can also guide a first home buyer through the application process, making their transition to home ownership as smooth as possible.

However, the maximum loan amount is much lower than other lenders and, with high housing prices, this loan might not be able to cover the amount needed for some buyers to make a home purchase.

loans.com.au Move Fast Loan Options

The Move Fast Special product is perfect for buyers looking to take advantage of low interest rates.

Pros
  • Low rate.
  • Redraw facility.
  • 24-hour customer service.
Cons
  • Ongoing fees.
  • No branch access.
  • Low maximum loan amount.
Eligibility

Must meet serviceability conditions.

Requires a deposit of at least 20 per cent.

Owner-occupier/refinancer.

About loans.com.au

Loans.com.au is an Australian-owned online lender. The organisation doesn’t have a branch network, which means no face-to-face service, however it does mean cheaper rates due to lower overheads. The company also offers 24-hour online service.

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