Rate Lovers Variable Home Loan (Interest Only) (LVR < 80%)
- Last updated on 03 Jun 2020
Home Value Home Loan
specialGet a low variable interest rate loan with no ongoing fees. Plus you can make extra repayments and free redraw online.
Home Value Loan
based on $350,000 loan amount for 25 years
- No upfront or ongoing fees
- Extra repayments + redraw services
- Free redraw facility
- Repayments may decrease if RBA cuts rates
- Discharge fee at end of loan
- Repayments may increase if RBA raises rates
Interest rate structure
$50k - $850k
Principal & interest
Loan term range
1 - 30 years
Unlimited extra repayments
Redraw fee: $0
Allows split interest
ACT, NSW, NT, QLD, SA, TAS, VIC, WA
Estimated upfront fees
Minimum SMSF Amount
100% offset available by adding 0.05% to your rate.
For loan amounts under $200k, valuation fee $250 and legal fee $297 applies.
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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.