Prime Home Loan - Non-Genuine Savings (Principal and Interest) ($50k-$1.15m)
- Last updated on 09 Aug 2020
Discounted Variable Rate (OO P&I)
Make the move to UBank's award winning home loan
2.49%
Variable
2.49%
Discounted Variable Rate (Owner Occupied Principal & Interest)
3.86%
Variable
3.90%
$1,408
based on $300,000 loan amount for 25 years
Pros
- No ongoing fees
- 100% full offset account
- Suitable for low deposits
- Extra repayments + redraw services
Cons
- Discharge fee at end of loan
- Repayments may increase if RBA raises rates
Maximum LVR 95% | Interest rate structure Variable |
Borrowing range $50k - $1.2m | Total Repayments $506,880 |
Principal & interest | Interest only |
Loan term range 15 - 30 years | Offset account 100% offset account |
Extra repayments Unlimited extra repayments | Redraw facility Redraw fee: $0 |
Allows split interest | Suitable For Owner Occupiers |
Applicable States ACT, NSW, NT, QLD, SA, TAS, VIC, WA | |
Total estimated upfront fees $330 | Application fee $0 |
Settlement fee $0 | Valuation fee $330 |
Legal fee $0 | Other upfront fee $0 |
Ongoing fee $0 | Discharge fee $300 |
Property Type | SMSF Trustee |
Minimum SMSF Amount |
Resimac is a non-bank lender that’s been operating since 1985. In 2016, the business merged with specialised Australian mortgage provider, Homeloans.com.au.
Resimac is an ASX-listed lender that focuses on providing a broad range of home loans, an exclusive customer benefits program, and a network of over 12,000 broker partners.
Resimac doesn’t have traditional branches, but has a number of satellite sales offices nationwide. Resimac is also a Carbon Conscious lender and plants a tree for every settled home loan.
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FAQs
You can only check your rates once. However we will send you, via email, the link to the result page so that you may return to it.
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No. While we will do our best to show a list of loans that may suit your needs, if you choose to apply to refinance, it is up to the lender to approve or disapprove your loan based on your individual circumstances, after you have submitted all your paperwork.
This can sometimes take up to 30 days, so it is important to find out exactly what the criteria is for the loan, and what you need in terms of paperwork. RateCity does not make any suggestions taking into account your personal and individual needs.
To work out how much you could save, we run the home loan details you’ve provided through our database, and search for similar home loan options that we think would be suitable for you.
We then calculate the costs of these loan options over 15 years (to keep our calculations consistent) and compare them to the cost calculations for your current home loan.
Your $100 gift card works just like a digital VISA debit card and can be used anywhere that these cards are accepted until its balance runs out.
When you check your home loan rate, you’ll supply some basic information about your current loan, including the amount owing on your mortgage and your current interest rate.
We’ll compare this information to the home loan options in the RateCity database and show you which home loan products you may be eligible to apply for.
We use your current mortgage details to calculate the potential savings if you were to change lenders, and also to help us point you to loans that may meet your needs.
For example – if you live in the house you own, we’ll make sure we show you the owner-occupier rates, which are typically cheaper than investor rates. Or if you have less than 20% equity in your property, then we won’t show you the deals that require a greater amount of equity.
This competition is only available to Australian residents who are over 18 and check their home loan interest rate at RateCity. However, you are not required to refinance your home loan or apply for any financial products.
You can still enter if you don’t have a home loan yet – enter how much you plan to borrow and the details of the property you’re considering, and we’ll compare mortgage offers that may suit your needs and estimate how much you could save compared to a loan with an average interest rate.
If your entry is selected as our winner, we’ll notify you in writing within two business days of the draw. Your name will also be published online on the RateCity from 22/05/2020.
You can only enter the draw for the chance to win $1 million once. However, you can get additional entries by inviting your friends to check their own home loan rates.
When you complete your initial entry, you’ll receive a unique URL that you can send to your friends. For each friend that checks their home loan rates using this URL, you’ll receive one additional entry into the draw.