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Rate Lovers Variable Home Loan (Principal and Interest) (LVR 80%-90%)

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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 upfront or ongoing fees
  • Extra repayments + redraw services
  • Free redraw facility
Cons:
  • Discharge fee at end of loan
  • Repayments may increase if RBA raises rates
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Fees and Features

Maximum LVR
Maximum LVR
90%
Interest rate structure
Interest rate structure
Variable
Borrowing range
Borrowing range
$50k - $850k
Total repayments
Total repayments
$426,300
Principal & interest
Principal & interest
Interest only
Interest only
Loan term
Loan term
1 - 30 years
Offset account
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
$0
Application fee
Application fee
$0
Settlement fee
Settlement fee
$0
Valuation fee
Valuation fee
$0
Legal fee
Legal fee
$0
Ongoing fee
Ongoing fee
$0
Discharge fee
Discharge fee
$895
Property Type
Property Type
SMSF Trustee
SMSF Trustee
Minimum SMSF Amount
Minimum SMSF Amount
Maximum LVR
Maximum LVR
90%
Interest rate structure
Interest rate structure
Variable
Borrowing range
Borrowing range
$50k - $850k
Total repayments
Total repayments
$426,300
Principal & interest
Principal & interest
Interest only
Interest only
Loan term
Loan term
1 - 30 years
Offset account
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
$0
Application fee
Application fee
$0
Settlement fee
Settlement fee
$0
Valuation fee
Valuation fee
$0
Legal fee
Legal fee
$0
Ongoing fee
Ongoing fee
$0
Discharge fee
Discharge fee
$895
Property Type
Property Type
SMSF Trustee
SMSF Trustee
Minimum SMSF Amount
Minimum SMSF Amount
Other Benefits
0.07% discount on rate after 60 months (if loan amount <$200k)
Other Restrictions
For loan amounts under $200k, valuation fee $250 and legal fee $297 applies.

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.

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