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Rate Buster High Lend 100% Offset Variable Home Loan (LVR < 80%)

For any query, Call: 1300 001 153
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Customise your mortgage repayments by entering your details:

I want to borrow

Loan Term

years

Repayment Frequency

Pros and Cons

Pros:
  • Extra low interest rate for refinancers
  • No ongoing fees
  • 100% full offset account
  • Parents can sign as guarantor
Cons:
  • Repayments may increase if RBA raises rates

Fees and Features

Maximum LVR
Maximum LVR
80%
Interest rate structure
Interest rate structure
Variable
Borrowing range
Borrowing range
$50k - $2m
Total repayments
Total repayments
$375,000
Principal & interest
Principal & interest
Interest only
Interest only
Loan term
Loan term
1 - 30 years
Offset account
Offset account
100% offset account
Extra repayments
Extra repayments
Unlimited extra repayments
Redraw facility
Redraw facility
Redraw fee: $0
Allows split interest
Allows split interest
Suitable For
Suitable ForOwner Occupiers
Applicable States
Applicable StatesACT, NSW, NT, QLD, SA, TAS, VIC, WA
Make Repayments
Make RepaymentsFortnightly, Monthly, Weekly
Estimated upfront fees
Estimated upfront fees
$525.00
Application fee
Application fee
$0
Settlement fee
Settlement fee
$0
Valuation fee
Valuation fee
$250
Legal fee
Legal fee
$275
Ongoing fee
Ongoing fee
$0
Discharge fee
Discharge fee
$0
Property Type
Property Type
SMSF Trustee
SMSF Trustee
Minimum SMSF Amount
Minimum SMSF Amount
Maximum LVR
Maximum LVR
80%
Interest rate structure
Interest rate structure
Variable
Borrowing range
Borrowing range
$50k - $2m
Total repayments
Total repayments
$375,000
Principal & interest
Principal & interest
Interest only
Interest only
Loan term
Loan term
1 - 30 years
Offset account
Offset account
100% offset account
Extra repayments
Extra repayments
Unlimited extra repayments
Redraw facility
Redraw facility
Redraw fee: $0
Allows split interest
Allows split interest
Suitable For
Suitable ForOwner Occupiers
Applicable States
Applicable StatesACT, NSW, NT, QLD, SA, TAS, VIC, WA
Make Repayments
Make RepaymentsFortnightly, Monthly, Weekly
Estimated upfront fees
Estimated upfront fees
$525.00
Application fee
Application fee
$0
Settlement fee
Settlement fee
$0
Valuation fee
Valuation fee
$250
Legal fee
Legal fee
$275
Ongoing fee
Ongoing fee
$0
Discharge fee
Discharge fee
$0
Property Type
Property Type
SMSF Trustee
SMSF Trustee
Minimum SMSF Amount
Minimum SMSF Amount
Other Benefits
You may be eligible for a 0.04% discount after 5 years of good payment conduct, Speak to your credit representative for more information.
Other Restrictions
Loans under $250k incur a $250 valuation fee and $220 legal fee ; Add 0.07% to waive Full Fees

Reduce Home Loans is 100 per cent dedicated to home loans, offering no other financial services. It’s also primarily online, and this simple business model helps Reduce Home Loans keep running costs down and deliver low interest rates.

This Australian owned and operated lender only opened in 2010, so it’s a relative newcomer. However, Reduce Home Loans has won many business awards since, including Money Magazine’s cheapest non-bank home loan in 2016, 2017 and 2018.

FAQs

The best mortgage to suit your needs will vary depending on your individual circumstances. If you want to be mortgage free as soon as possible, consider taking out a mortgage with a shorter term, such as 25 years as opposed to 30 years, and make the highest possible mortgage repayments. You might also want to consider a loan with an offset facility to help reduce costs. Investors, on the other hand, might have different objectives so the choice of loan will differ.

Whether you decide on a fixed or variable interest rate will depend on your own preference for stability in repayment amounts, and flexibility when it comes to features.

If you do not have a deposit or will not be in a financial position to make large repayments right away you may wish to consider asking a parent to be a guarantor or looking at interest only loans. Again, which one of these options suits you best is reliant on many factors and you should seek professional advice if you are unsure which mortgage will suit you best.

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