Liberty Financial home loan repayment calculator

Thinking about taking out a home loan with Liberty Financial? Use our home loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how Liberty Financial home loans compare with other options.

I'd like to borrow

$

I am an

Loan term

With a repayment type

Your estimated repayments

at interest rate 2.89 %

Total interest payable

$0

Total amount payable

$0

Pros and cons

  • These loans have flexible features.
  • Lower interest rates.
  • Loans cater to borrowers with specific needs like low doc loans and self-employed loans.
  • Limited branch network.
  • Some loans have annual fees.

Liberty Financial home loans rates

Product
Advertised Rate
Total estimated upfront fees
Comparison Rate*
Ongoing fee
Go to site
Company

2.89%

Variable

$995

2.96%

$0
Liberty Financial
More details

3.04%

Variable

$995

3.11%

$0
Liberty Financial
More details

3.14%

Variable

$0

3.15%

$0
Liberty Financial
More details

3.29%

Variable

$0

3.30%

$0
Liberty Financial
More details

2.99%

Variable

$0

3.31%

$295 annually
Liberty Financial
More details

3.24%

Variable

$995

3.31%

$0
Liberty Financial
More details

3.14%

Variable

$0

3.46%

$295 annually
Liberty Financial
More details

3.39%

Variable

$995

3.46%

$0
Liberty Financial
More details

3.49%

Variable

$0

3.50%

$0
Liberty Financial
More details

3.44%

Variable

$995

3.51%

$0
Liberty Financial
More details

3.34%

Variable

$0

3.65%

$295 annually
Liberty Financial
More details

3.64%

Variable

$0

3.65%

$0
Liberty Financial
More details

3.69%

Variable

$0

3.70%

$0
Liberty Financial
More details

3.49%

Variable

$0

3.80%

$295 annually
Liberty Financial
More details

3.54%

Variable

$0

3.85%

$295 annually
Liberty Financial
More details

3.79%

Variable

$995

3.86%

$0
Liberty Financial
More details

3.79%

Variable

$995

3.96%

$0
Liberty Financial
More details

3.99%

Variable

$0

4.00%

$0
Liberty Financial
More details

4.04%

Variable

$0

4.05%

$0
Liberty Financial
More details

3.84%

Fixed - 2 years

$0

4.14%

$295 annually
Liberty Financial
More details

3.84%

Fixed - 3 years

$0

4.14%

$295 annually
Liberty Financial
More details

4.04%

Variable

$0

4.14%

$0
Liberty Financial
More details

4.14%

Variable

$0

4.15%

$0
Liberty Financial
More details

3.89%

Fixed - 1 year

$0

4.18%

$295 annually
Liberty Financial
More details

3.89%

Variable

$0

4.19%

$295 annually
Liberty Financial
More details

3.89%

Variable

$0

4.19%

$295 annually
Liberty Financial
More details

4.14%

Variable

$995

4.31%

$0
Liberty Financial
More details

4.19%

Variable

$995

4.42%

$0
Liberty Financial
More details

4.39%

Variable

$0

4.49%

$0
Liberty Financial
More details

4.54%

Variable

$0

4.55%

$0
Liberty Financial
More details

4.54%

Variable

$0

4.60%

$0
Liberty Financial
More details

4.24%

Variable

$0

4.63%

$295 annually
Liberty Financial
More details

4.29%

Variable

$0

4.74%

$295 annually
Liberty Financial
More details

4.54%

Variable

$995

4.77%

$0
Liberty Financial
More details

4.89%

Variable

$0

4.90%

$0
Liberty Financial
More details

4.89%

Variable

$0

4.96%

$0
Liberty Financial
More details

4.19%

Fixed - 3 years

$0

5.00%

$295 annually
Liberty Financial
More details

4.19%

Fixed - 2 years

$0

5.01%

$295 annually
Liberty Financial
More details

4.64%

Variable

$995

5.01%

$0
Liberty Financial
More details

4.24%

Fixed - 1 year

$0

5.03%

$295 annually
Liberty Financial
More details

4.64%

Variable

$0

5.08%

$295 annually
Liberty Financial
More details

4.99%

Variable

$0

5.20%

$0
Liberty Financial
More details

4.74%

Variable

$0

5.32%

$295 annually
Liberty Financial
More details

4.99%

Variable

$995

5.37%

$0
Liberty Financial
More details

4.95%

Variable

$1520

5.38%

$30 monthly
Liberty Financial
More details

5.39%

Variable

$0

5.40%

$0
Liberty Financial
More details

5.34%

Variable

$0

5.55%

$0
Liberty Financial
More details

5.09%

Variable

$0

5.67%

$295 annually
Liberty Financial
More details

5.84%

Variable

$0

5.85%

$0
Liberty Financial
More details

Liberty Financial customer service

Home Loan customers can contact Liberty Financial by calling the contact centre or by using the email enquiry form. Customers also have the option of talking to a Liberty Financial representative using the live chat function on the website. While Liberty Financial doesn’t have branches, it does have a network of mobile Advisers who help borrowers tailor a custom finance solution.

✓     Customer service centre (phone)

✓     Online banking

✓     Email

✓     Live Chat

✓     Mobile banking

How to Apply

Borrowers wanting to apply for a Liberty Financial home loan can complete a pre-approval assessment form online but cannot actually apply for the loan online. Customers wanting to apply for a Liberty Financial loan will need to call the contact centre or enquire online for access to a Broker or Adviser. Before applying for a Liberty Financial home loan, consider what you can afford to borrow and what other costs you need to factor in. The Liberty Financial website doesn’t give specific documents, however they could include:

  • Provide details of your income and employment including your employer's contact details or recent tax returns.
  • Proof of identity.
  • Proof of assets, debts and liabilities.

Learn more about Liberty Financial

What is an ombudsman?

An complaints officer – previously referred to as an ombudsman -looks at formal complaints from customers about their credit providers, and helps to find a fair and independent solution to these problems.

These services are handled by the Australian Financial Complaints Authority, a non-profit government organisation that addresses and resolves financial disputes between customers and financial service providers.

How do I take out a low-deposit home loan?

If you want to take out a low-deposit home loan, it might be a good idea to consult a mortgage broker who can give you professional financial advice and organise the mortgage for you.

Another way to take out a low-deposit home loan is to do your own research with a comparison website like RateCity. Once you’ve identified your preferred mortgage, you can apply through RateCity or go direct to the lender.

Are bad credit home loans dangerous?

Bad credit home loans can be dangerous if the borrower signs up for a loan they’ll struggle to repay. This might occur if the borrower takes out a mortgage at the limit of their financial capacity, especially if they have some combination of a low income, an insecure job and poor savings habits.

Bad credit home loans can also be dangerous if the borrower buys a home in a stagnant or falling market – because if the home has to be sold, they might be left with ‘negative equity’ (where the home is worth less than the mortgage).

That said, bad credit home loans can work out well if the borrower is able to repay the mortgage – for example, if they borrow conservatively, have a decent income, a secure job and good savings habits. Another good sign is if the borrower buys a property in a market that is likely to rise over the long term.

What are the responsibilities of a mortgage broker?

Mortgage brokers act as the go-between for borrowers looking for a home loan and the lenders offering the loan. They offer personalised advice to help borrowers choose the right home loan for their needs.

In Australia, mortgage brokers are required by law to carry an Australian Credit License (ACL) if they offer credit assistance services. Which is the legal term for guidance regarding the different kinds of credit offered by lenders, including home loan mortgages. They may not need this license if they are working for an aggregator, for instance, as a franchisee. In both these situations, they need to comply with the regulations laid down by the Australian Securities and Investments Commission (ASIC).

These regulations, which are stipulated by Australian legislation, require mortgage brokers to comply with what are called “responsible lending” and “best interest” obligations. Responsible lending obligations mean brokers have to suggest “suitable” home loans. This means loans that you can easily qualify for,  actually meet your needs, and don’t prove unnecessarily challenging for you.

Starting 1 January 2021, mortgage brokers must comply with best interest obligations in addition to responsible lending obligations. These require mortgage brokers to act in the best interest of their customers and also requires them to prioritise their customers’ interests over their own. For instance, a mortgage broker may not recommend a lender who gives them a commission if that lender’s home loan offer does not benefit that particular customer.

What is a debt service ratio?

A method of gauging a borrower’s home loan serviceability (ability to afford home loan repayments), the debt service ratio (DSR) is the fraction of an applicant’s income that will need to go towards paying back a loan. The DSR is typically expressed as a percentage, and lenders may decline loans to borrowers with too high a DSR (often over 30 per cent).

How can I get a home loan with bad credit?

If you want to get a home loan with bad credit, you need to convince a lender that your problems are behind you and that you will, indeed, be able to repay a mortgage.

One step you might want to take is to visit a mortgage broker who specialises in bad credit home loans (also known as ‘non-conforming home loans’ or ‘sub-prime home loans’). An experienced broker will know which lenders to approach, and how to plead your case with each of them.

Two points to bear in mind are:

  • Many home loan lenders don’t provide bad credit mortgages
  • Each lender has its own policies, and therefore favours different things

If you’d prefer to directly approach the lender yourself, you’re more likely to find success with smaller non-bank lenders that specialise in bad credit home loans (as opposed to bigger banks that prefer ‘vanilla’ mortgages). That’s because these smaller lenders are more likely to treat you as a unique individual rather than judge you according to a one-size-fits-all policy.

Lenders try to minimise their risk, so if you want to get a home loan with bad credit, you need to do everything you can to convince lenders that you’re safer than your credit history might suggest. If possible, provide paperwork that shows:

  • You have a secure job
  • You have a steady income
  • You’ve been reducing your debts
  • You’ve been increasing your savings

Who offers 40 year mortgages?

Home loans spanning 40 years are offered by select lenders, though the loan period is much longer than a standard 30-year home loan. You're more likely to find a maximum of 35 years, such as is the case with Teacher’s Mutual Bank

Currently, 40 year home loan lenders in Australia include AlphaBeta Money, BCU, G&C Mutual Bank, Pepper, and Sydney Mutual Bank.

Even though these lengthier loans 35 to 40 year loans do exist on the market, they are not overwhelmingly popular, as the extra interest you pay compared to a 30-year loan can be over $100,000 or more.

How can I get a home loan with no deposit?

Following the Global Financial Crisis, no-deposit loans, as they once used to be known, have largely been removed from the market. Now, if you wish to enter the market with no deposit, you will require a property of your own to secure a loan against or the assistance of a guarantor.

What is equity? How can I use equity in my home loan?

Equity refers to the difference between what your property is worth and how much you owe on it. Essentially, it is the amount you have repaid on your home loan to date, although if your property has gone up in value it can sometimes be a lot more.

You can use the equity in your home loan to finance renovations on your existing property or as a deposit on an investment property. It can also be accessed for other investment opportunities or smaller purchases, such as a car or holiday, using a redraw facility.

Once you are over 65 you can even use the equity in your home loan as a source of income by taking out a reverse mortgage. This will let you access the equity in your loan in the form of regular payments which will be paid back to the bank following your death by selling your property. But like all financial products, it’s best to seek professional advice before you sign on the dotted line.

Does Australia have no cost refinancing?

No Cost Refinancing is an option available in the US where the lender or broker covers your switching costs, such as appraisal fees and settlement costs. Unfortunately, no cost refinancing isn’t available in Australia.

Can I change jobs while I am applying for a home loan?

Whether you’re a new borrower or you’re refinancing your home loan, many lenders require you to be in a permanent job with the same employer for at least 6 months before applying for a home loan. Different lenders have different requirements. 

If your work situation changes for any reason while you’re applying for a mortgage, this could reduce your chances of successfully completing the process. Contacting the lender as soon as you know your employment situation is changing may allow you to work something out. 

Can I get a home loan if I am on an employment contract?

Some lenders will allow you to apply for a mortgage if you are a contractor or freelancer. However, many lenders prefer you to be in a permanent, ongoing role, because a more stable income means you’re more likely to keep up with your repayments.

If you’re a contractor, freelancer, or are otherwise self-employed, it may still be possible to apply for a low-doc home loan, as these mortgages require less specific proof of income.

Will I have to pay lenders' mortgage insurance twice if I refinance?

If your deposit was less than 20 per cent of your property’s value when you took out your original loan, you may have paid lenders’ mortgage insurance (LMI) to cover the lender against the risk that you may default on your repayments. 

If you refinance to a new home loan, but still don’t have enough deposit and/or equity to provide 20 per cent security, you’ll need to pay for the lender’s LMI a second time. This could potentially add thousands or tens of thousands of dollars in upfront costs to your mortgage, so it’s important to consider whether the financial benefits of refinancing may be worth these costs.

Is there a limit to how many times I can refinance?

There is no set limit to how many times you are allowed to refinance. Some surveyed RateCity users have refinanced up to three times.

However, if you refinance several times in short succession, it could affect your credit score. Lenders assess your credit score when you apply for new loans, so if you end up with bad credit, you may not be able to refinance if and when you really need to.

Before refinancing multiple times, consider getting a copy of your credit report and ensure your credit history is in good shape for future refinances.

I have a poor credit rating. Am I still able to get a mortgage?

Some lenders still allow you to apply for a home loan if you have impaired credit. However, you may pay a slightly higher interest rate and/or higher fees. This is to help offset the higher risk that you may default on your repayments.