Qudos Bank home loan repayment calculator

Thinking about taking out a home loan with Qudos Bank? Use our home loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how Qudos Bank 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 2.68 %

Total interest payable

$0

Total amount payable

$0

Pros and cons

Pros
  • Below-average interest rates
  • Wide range of home loan products
  • Wide range of loan features
Cons
  • Limited branch access
  • Upfront fees may apply
  • Ongoing fees may apply

Qudos Bank home loans rates

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

2.68%

Variable

$0

2.68%

$0 weekly
Qudos Bank
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2.29%

Fixed - 3 years

$0

2.82%

$0 weekly
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2.39%

Fixed - 3 years

$0

2.84%

$0 weekly
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3.13%

Variable

$0

2.85%

$0 weekly
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2.29%

Fixed - 2 years

$0

2.87%

$0 weekly
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2.69%

Fixed - 5 years

$0

2.87%

$0 weekly
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2.39%

Fixed - 2 years

$0

2.89%

$0 weekly
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2.69%

Fixed - 4 years

$0

2.89%

$0 weekly
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2.89%

Variable

$0

2.89%

$0 weekly
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2.79%

Fixed - 5 years

$0

2.91%

$0 weekly
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2.69%

Fixed - 3 years

$0

2.92%

$0 weekly
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2.29%

Fixed - 1 year

$0

2.93%

$0 weekly
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2.79%

Fixed - 4 years

$0

2.93%

$0 weekly
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2.89%

Variable

$600

2.93%

$0 weekly
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2.39%

Fixed - 1 year

$0

2.94%

$0 weekly
Qudos Bank
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2.69%

Fixed - 2 years

$0

2.94%

$0 weekly
Qudos Bank
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2.79%

Fixed - 3 years

$0

2.94%

$0 weekly
Qudos Bank
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2.69%

Fixed - 1 year

$0

2.96%

$0 weekly
Qudos Bank
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2.79%

Fixed - 2 years

$0

2.96%

$0 weekly
Qudos Bank
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2.79%

Fixed - 1 year

$0

2.97%

$0 weekly
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2.99%

Variable

$0

2.99%

$0 weekly
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3.09%

Fixed - 4 years

$0

3.02%

$0 weekly
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2.99%

Variable

$600

3.03%

$0 weekly
Qudos Bank
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3.03%

Variable

$0

3.03%

$0 weekly
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3.09%

Fixed - 5 years

$0

3.03%

$0 weekly
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3.04%

Variable

$0

3.04%

$0 weekly
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3.29%

Variable

$0

3.04%

$0 weekly
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3.19%

Fixed - 4 years

$0

3.05%

$0 weekly
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3.19%

Fixed - 5 years

$0

3.07%

$0 weekly
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3.39%

Variable

$0

3.08%

$0 weekly
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2.59%

Fixed - 3 years

$0

3.11%

$0 weekly
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2.69%

Fixed - 3 years

$0

3.14%

$0 weekly
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3.14%

Variable

$0

3.14%

$0 weekly
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2.59%

Fixed - 2 years

$0

3.17%

$0 weekly
Qudos Bank
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2.79%

Fixed - 3 years

$0

3.17%

$0 weekly
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2.99%

Fixed - 5 years

$0

3.17%

$0 weekly
Qudos Bank
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3.43%

Variable

$0

3.18%

$0 weekly
Qudos Bank
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2.69%

Fixed - 2 years

$0

3.19%

$0 weekly
Qudos Bank
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2.89%

Fixed - 3 years

$0

3.19%

$0 weekly
Qudos Bank
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2.99%

Fixed - 4 years

$0

3.19%

$0 weekly
Qudos Bank
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3.19%

Variable

$0

3.19%

$0 weekly
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3.44%

Variable

$0

3.19%

$0 weekly
Qudos Bank
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2.78%

Variable

$0

3.21%

$395 annually
Qudos Bank
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2.79%

Fixed - 2 years

$0

3.21%

$0 weekly
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3.09%

Fixed - 5 years

$0

3.21%

$0 weekly
Qudos Bank
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2.89%

Fixed - 2 years

$0

3.22%

$0 weekly
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3.09%

Fixed - 4 years

$0

3.22%

$0 weekly
Qudos Bank
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2.59%

Fixed - 1 year

$0

3.23%

$0 weekly
Qudos Bank
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3.54%

Variable

$0

3.23%

$0 weekly
Qudos Bank
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2.69%

Fixed - 1 year

$0

3.24%

$0 weekly
Qudos Bank
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2.79%

Fixed - 1 year

$0

3.25%

$0 weekly
Qudos Bank
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2.89%

Fixed - 1 year

$0

3.25%

$0 weekly
Qudos Bank
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3.19%

Fixed - 5 years

$0

3.25%

$0 weekly
Qudos Bank
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3.19%

Fixed - 4 years

$0

3.26%

$0 weekly
Qudos Bank
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3.59%

Variable

$600

3.26%

$0 weekly
Qudos Bank
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3.29%

Variable

$0

3.29%

$0 weekly
Qudos Bank
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3.29%

Fixed - 5 years

$0

3.29%

$0 weekly
Qudos Bank
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3.29%

Fixed - 4 years

$0

3.29%

$0 weekly
Qudos Bank
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2.88%

Variable

$0

3.31%

$395 annually
Qudos Bank
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3.18%

Variable

$0

3.31%

$395 annually
Qudos Bank
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3.34%

Variable

$0

3.34%

$0 weekly
Qudos Bank
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3.59%

Variable

$0

3.34%

$0 weekly
Qudos Bank
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3.28%

Variable

$0

3.35%

$395 annually
Qudos Bank
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3.69%

Variable

$600

3.36%

$0 weekly
Qudos Bank
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3.69%

Variable

$0

3.38%

$0 weekly
Qudos Bank
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3.44%

Variable

$0

3.44%

$0 weekly
Qudos Bank
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3.74%

Variable

$0

3.49%

$0 weekly
Qudos Bank
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3.08%

Variable

$0

3.50%

$395 annually
Qudos Bank
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3.84%

Variable

$0

3.53%

$0 weekly
Qudos Bank
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3.18%

Variable

$0

3.60%

$395 annually
Qudos Bank
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3.48%

Variable

$0

3.61%

$395 annually
Qudos Bank
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3.58%

Variable

$0

3.65%

$395 annually
Qudos Bank
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3.78%

Variable

$600

3.82%

$0 weekly
Qudos Bank
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3.78%

Variable

$600

3.82%

$0 weekly
Qudos Bank
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3.78%

Variable

$600

3.82%

$0 weekly
Qudos Bank
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3.78%

Variable

$600

3.82%

$0 weekly
Qudos Bank
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3.78%

Variable

$600

3.82%

$0 weekly
Qudos Bank
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3.78%

Variable

$600

3.82%

$0 one off
Qudos Bank
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4.14%

Variable

$600

4.18%

$0 one off
Qudos Bank
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4.14%

Variable

$600

4.18%

$0 weekly
Qudos Bank
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4.29%

Variable

$600

4.33%

$0 weekly
Qudos Bank
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4.29%

Variable

$600

4.33%

$0 weekly
Qudos Bank
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4.29%

Variable

$600

4.33%

$0 weekly
Qudos Bank
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4.29%

Variable

$600

4.33%

$0 weekly
Qudos Bank
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Qudos Bank customer service

Qudos Bank customers are able to phone a number of specialised phone lines that cover general member enquiries, financial planning andinsurance services. There is also a line for those experiencing financial hardship. Customers can also contact the bank via email, online or visit a branch. 

  • Customer service centre (phone)
  • Mobile app
  • Online banking
  • Email
  • Branch

How to Apply

Potential Qudos Bank home loan customers can apply for a loan in a number of ways. Customers can make an in-person or Skype appointment with a Qudos Bank employee, or apply online using the online application form on the bank’s website. They can also apply in person at a Qudos Bank branch or by phone. Before applying for a home loan it is advisable to think about how much money you could conceivably borrow given your financial situation and income. You will also need to provide documentation when applying for a home loan. This will include:

  • Personal identification material.
  • Proof of income and employment.
  • Proof of other assets, income and earnings.
  • Details on current debts, loans and liabilities.
  • Personal insurance documents.

About Qudos home loans

Qudos Bank is a challenger lender that aims to outcompete the big four banks on price and customer service.

Qudos Bank provides home loans to both owner-occupiers and investors, including first home buyers and refinancers.

Qudos offers no-frills home loans, full-featured home loans, low-deposit home loans and line-of-credit home loans.

Borrowers can choose between variable interest rates and fixed interest rates, and also have the option of paying principal and interest or interest only.

Depending on which loan they choose, borrowers can also get:

  • Offset accounts
  • Redraw facilities
  • Unlimited extra repayments
  • No upfront fees
  • No ongoing fees
  • Qantas points
  • Insurance discounts

Compared to the rest of the market, Qudos Bank’s interest rates and fees tend to range from very low to moderate.

Borrowers can apply for Qudos Bank home loans in-branch or over the internet.

Qudos home loan rates

Qudos Bank mortgage rates tend to range from very low to moderate, although they differ from loan to loan and borrower to borrower.

As a general rule, borrowers receive lower interest rates if they’re owner-occupiers, pay principal and interest and have a deposit of at least 20 per cent.

Conversely, borrowers generally receive higher interest rates if they’re investors, pay interest only and have a deposit of under 20 per cent.

Also, Qudos Bank’s no-frills and packaged home loans tend to come with lower interest rates than their other mortgage products.

Qudos Bank interest rates can be fixed or variable. Qudos also offers borrowers the option of ‘split loans’ – mortgages that are part fixed and part variable.

Qudos home loans review

Qudos Bank is a challenger bank that tends to offer lower interest rates and lower fees than the average home loan lender, with pricing ranging from very low to moderate.

Qudos may be a good option for borrowers who want a competitive alternative to Australia’s big four banks.

The lender, which has branches in four states, caters to the full range of home loan customers:

  • Owner-occupiers
  • Investors
  • First home buyers
  • Upgraders
  • Refinancers

Qudos also offers a range of mortgage options:

  • No-frills home loans
  • Full-featured home loans
  • Low-deposit home loans
  • Line-of-credit home loans

Qudos mortgages have maximum terms of 30 years, and include various interest and repayment options:

  • Variable rates
  • Fixed rates
  • Split loans (part variable, part fixed)
  • Principal and interest
  • Interest-only

Each home loan product has different features, but options include:

  • Offset accounts
  • Redraw facilities
  • Unlimited extra repayments
  • No upfront fees
  • No ongoing fees
  • Qantas points
  • Insurance discounts

Learn more about Qudos Bank

What is a bad credit home loan?

A bad credit home loan is a mortgage for people with a low credit score. Lenders regard bad credit borrowers as riskier than ‘vanilla’ borrowers, so they tend to charge higher interest rates for bad credit home loans.

If you want a bad credit home loan, you’re more likely to get approved by a small non-bank lender than by a big four bank or another mainstream lender.

What is 'principal and interest'?

‘Principal and interest’ loans are the most common type of home loans on the market. The principal part of the loan is the initial sum lent to the customer and the interest is the money paid on top of this, at the agreed interest rate, until the end of the loan.

By reducing the principal amount, the total of interest charged will also become smaller until eventually the debt is paid off in full.

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.

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.

How common are low-deposit home loans?

Low-deposit home loans aren’t as common as they once were, because they’re regarded as relatively risky and the banking regulator (APRA) is trying to reduce risk from the mortgage market.

However, if you do your research, you’ll find there is still a fairly wide selection of banks, credit unions and non-bank lenders that offers low-deposit home loans.

Does Australia have no-deposit home loans?

Australia no longer has no-deposit home loans – or 100 per cent home loans as they’re also known – because they’re regarded as too risky.

However, some lenders allow some borrowers to take out mortgages with a 5 per cent deposit.

Another option is to source a deposit from elsewhere – either by using a parental guarantee or by drawing out equity from another property.

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

What are the pros and cons of no-deposit home loans?

It’s no longer possible to get a no-deposit home loan in Australia. In some circumstances, you might be able to take out a mortgage with a 5 per cent deposit – but before you do so, it’s important to weigh up the pros and cons.

The big advantage of borrowing 95 per cent (also known as a 95 per cent home loan) is that you get to buy your property sooner. That may be particularly important if you plan to purchase in a rising market, where prices are increasing faster than you can accumulate savings.

But 95 per cent home loans also have disadvantages. First, the 95 per cent home loan market is relatively small, so you’ll have fewer options to choose from. Second, you’ll probably have to pay LMI (lender’s mortgage insurance). Third, you’ll probably be charged a higher interest rate. Fourth, the more you borrow, the more you’ll ultimately have to pay in interest. Fifth, if your property declines in value, your mortgage might end up being worth more than your home.

What happens to my home loan when interest rates rise?

If you are on a variable rate home loan, every so often your rate will be subject to increases and decreases. Rate changes are determined by your lender, not the Reserve Bank of Australia, however often when the RBA changes the cash rate, a number of banks will follow suit, at least to some extent. You can use RateCity cash rate to check how the latest interest rate change affected your mortgage interest rate.

When your rate rises, you will be required to pay your bank more each month in mortgage repayments. Similarly, if your interest rate is cut, then your monthly repayments will decrease. Your lender will notify you of what your new repayments will be, although you can do the calculations yourself, and compare other home loan rates using our mortgage calculator.

There is no way of conclusively predicting when interest rates will go up or down on home loans so if you prefer a more stable approach consider opting for a fixed rate loan.

Do the big four banks have guarantor home loans?

Yes, ANZ, Commonwealth Bank, NAB and Westpac all offer guarantor home loans. These mortgages are also offered by many other banks, credit unions and building societies.

What is a variable home loan?

A variable rate home loan is one where the interest rate can and will change over the course of your loan. The rate is determined by your lender, not the Reserve Bank of Australia, so while the cash rate might go down, your bank may decide not to follow suit, although they do broadly follow market conditions. One of the upsides of variable rates is that they are typically more flexible than their fixed rate counterparts which means that a lot of these products will let you make extra repayments and offer features such as offset accounts.

What is the difference between fixed, variable and split rates?

Fixed rate

A fixed rate home loan is a loan where the interest rate is set for a certain amount of time, usually between one and 15 years. The advantage of a fixed rate is that you know exactly how much your repayments will be for the duration of the fixed term. There are some disadvantages to fixing that you need to be aware of. Some products won’t let you make extra repayments, or offer tools such as an offset account to help you reduce your interest, while others will charge a significant break fee if you decide to terminate the loan before the fixed period finishes.

Variable rate

A variable rate home loan is one where the interest rate can and will change over the course of your loan. The rate is determined by your lender, not the Reserve Bank of Australia, so while the cash rate might go down, your bank may decide not to follow suit, although they do broadly follow market conditions. One of the upsides of variable rates is that they are typically more flexible than their fixed rate counterparts which means that a lot of these products will let you make extra repayments and offer features such as offset accounts.

Split rates home loans

A split loan lets you fix a portion of your loan, and leave the remainder on a variable rate so you get a bet each way on fixed and variable rates. A split loan is a good option for someone who wants the peace of mind that regular repayments can provide but still wants to retain some of the additional features variable loans typically provide such as an offset account. Of course, with most things in life, split loans are still a trade-off. If the variable rate goes down, for example, the lower interest rates will only apply to the section that you didn’t fix.

What is a guarantor?

A guarantor is someone who provides a legally binding promise that they will pay off a mortgage if the principal borrower fails to do so.

Often, guarantors are parents in a solid financial position, while the principal borrower is a child in a weaker financial position who is struggling to enter the property market.

Lenders usually regard borrowers as less risky when they have a guarantor – and therefore may charge lower interest rates or even approve mortgages they would have otherwise rejected.

However, if the borrower falls behind on their repayments, the lender might chase the guarantor for payment. In some circumstances, the lender might even seize and sell the guarantor’s property to recoup their money.

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.

What is breach of contract?

A failure to follow all or part of a contract or breaking the conditions of a contract without any legal excuse. A breach of contract can be material, minor, actual or anticipatory, depending on the severity of the breaches and their material impact.