Auswide Bank

Line of Credit Investment Loan

Advertised Rate

6.03%

Variable

Comparison Rate*

6.19%

Maximum LVR
80%
Real Time Rating™

0.98

/ 5
Monthly Repayment

$1,804

based on $300,000 loan amount for 25 years at 6.19%

Advertised Rate

6.03%

Variable

Comparison Rate*

6.19%

Maximum LVR
80%
Real Time Rating™

0.98

/ 5
Monthly Repayment

$1,804

based on $300,000 loan amount for 25 years at 6.19%

Calculate your repayments for this loan

I'd like to borrow

$

Loan term

years

Your estimated repayment

$1,804

based on $300,000 loan amount for 25 years at 6.19%

Auswide Bank home loans are available through brokers who can help find the right loan and manage your application at no charge.

Azm Khan

5.0
43 Reviews

Get expert advice from a home loans specialist.

I am really passionate about helping people achieve their property dreams. As a student, my main interest was finance and since completing my Master's degree in Accounting, I studied to be qualified as a Certified Practicing Accountant (CPA) and worked in the finance world for over 10 years. In 2014, after purchasing my first home through a mortgage broker and seeing first hand the value provided by Mortgage Brokers, I decided to better utilise my skills to the benefit of my clients. Since starting my Mortgage Broker business, I have helped over 300 clients with their home loan and have settled over $120 million loans. So if you are looking for someone with expertise and experience to assist you with your home loan, I will be thrilled to have a chat. I am available anytime when you are ready.

Preferred time

Response time: in 2 days | Our brokers call during business hours between 9.00am to 6.00pm.

Barry Wilkinson

5.0
94 Reviews

Get expert advice from a home loans specialist.

I’ve spent 18 years working for myself as a mortgage broker, and in that time I’ve come to know how to best support clients as they go through the lending process. It’s about more than just a sharp home loan rate, it’s about becoming a part of the client’s financial team and helping them to identify financial opportunities that they might not see themselves. I also saw the value (for the client and for our team) in staying in regular contact with clients to make sure their loans are working for them and their financial situation. While I started in the industry with a major lender, after 2 years I became a broker where I could access a range of lenders and could match my clients with the best products to suit their needs. I genuinely love helping my clients into their properties, or helping people to refinance to adjust to their circumstances. I really enjoy coaching people along the way with tips and habits to help them pay off their loan quicker or identifying other financial opportunities that they might think is applicable to them. Education is critical, and over the years I’ve become a financial coach of sorts, showing clients the importance of budgeting and financial management and how it can benefit their financial wellbeing in the long term. My biggest recommendation is to write down your financial goals (1-3 years goals and 3-5 years goals) and patiently work towards them. It’s the small things that make a big difference. I also really value staying in touch with clients over many years, seeing them through different life stages and helping to adjust their lending to suit each new stage. When I’m not working with and for my clients, I love keeping fit, spending time with my young family, supporting my local football club and catching up with friends/family – and watching my beloved Glasgow Celtic play either on TV or live back in my country of birth, Scotland.

Preferred time

Response time: in 2 hours | Our brokers call during business hours between 9.00am to 6.00pm.

Glenn Rowan

5.0
29 Reviews

Get expert advice from a home loans specialist.

Qualified in Mortgage Broking / Mortgage Broking Management (Diploma). Home Loans, Commercial Loans, Asset finance & Equipment Finance, Business finance , Personal loans and debt consolidation are services I offer, as well as Property Investment sourcing. During my career I have worked in various roles within the finance & property sector spanning over 20 years. I have worked for Real Estates, Property Investment companies and spent time at Financial Planning Firms which motivated me to complete my RG146 – Financial Planning (Diploma). I now and for the last 10 years have specialised in making peoples dreams come true plus have helped clients increase their wealth. What I really enjoy is helping people through the mortgage process, be it Residential or Commercial and knowing that they have chosen the right loan. I will be with you every step of the way, making the process streamlined.

Preferred time

Response time: in 32 minutes | Our brokers call during business hours between 9.00am to 6.00pm.

Pros and Cons

Pros and Cons

    • No extra repayments
    • No redraw and no offset
    • Ongoing fee
    • Discharge fee at end of loan

    Features and Fees

    Auswide Bank Features and Fees

    Details

    Maximum LVR

    80%

    Total Repayments

    Next LVR

    Interest rate type

    Variable

    Borrowing range

    Suitable for

    Investors, Line of Credit

    Loan term range

    1 - 30 years

    Principal & interest

    Interest only

    Applicable states

    ACT, NSW, NT, QLD, SA, TAS, VIC, WA

    Make repayments

    Fortnightly, Monthly, Weekly

    Features

    Extra repayments

    Not Allowed

    Redraw facility

    Split interest facility

    Loan portable

    Repayment holiday available

    Allow guarantors

    Available for first home buyers

    Fees

    Total estimated upfront fees

    $600

    Application fee

    $600

    Valuation fee

    $0

    Settlement fee

    $0

    Other upfront fee

    $0

    Ongoing fee

    $10 monthly

    Discharge fee

    $350

    Application method

    Online

    Phone

    In branch

    Pros and Cons

      • No extra repayments
      • No redraw and no offset
      • Ongoing fee
      • Discharge fee at end of loan

      Auswide Bank Features and Fees

      Details

      Maximum LVR

      80%

      Total Repayments

      Next LVR

      Interest rate type

      Variable

      Borrowing range

      Suitable for

      Investors, Line of Credit

      Loan term range

      1 - 30 years

      Principal & interest

      Interest only

      Applicable states

      ACT, NSW, NT, QLD, SA, TAS, VIC, WA

      Make repayments

      Fortnightly, Monthly, Weekly

      Features

      Extra repayments

      Not Allowed

      Redraw facility

      Split interest facility

      Loan portable

      Repayment holiday available

      Allow guarantors

      Available for first home buyers

      Fees

      Total estimated upfront fees

      $600

      Application fee

      $600

      Valuation fee

      $0

      Settlement fee

      $0

      Other upfront fee

      $0

      Ongoing fee

      $10 monthly

      Discharge fee

      $350

      Application method

      Online

      Phone

      In branch

      FAQs

      What is the difference between a fixed rate and variable rate?

      A variable rate can fluctuate over the life of a loan as determined by your lender. While the rate is broadly reflective of market conditions, including the Reserve Bank’s cash rate, it is by no means the sole determining factor in your bank’s decision-making process.

      A fixed rate is one which is set for a period of time, regardless of market fluctuations. Fixed rates can be as short as one year or as long as 15 years however after this time it will revert to a variable rate, unless you negotiate with your bank to enter into another fixed term agreement

      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 however fixed rates do offer customers a level of security by knowing exactly how much they need to set aside each month.

      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 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.

      Does Australia have no cost refinancing?

      No Cost Refinancing is an option available in the US where the lender or broker covers your switching costs, such as appraisal fees and settlement costs. Unfortunately, no cost refinancing isn’t available in Australia.

      Will I have to pay lenders' mortgage insurance twice if I refinance?

      If your deposit was less than 20 per cent of your property’s value when you took out your original loan, you may have paid lenders’ mortgage insurance (LMI) to cover the lender against the risk that you may default on your repayments. 

      If you refinance to a new home loan, but still don’t have enough deposit and/or equity to provide 20 per cent security, you’ll need to pay for the lender’s LMI a second time. This could potentially add thousands or tens of thousands of dollars in upfront costs to your mortgage, so it’s important to consider whether the financial benefits of refinancing may be worth these costs.

      Is there a limit to how many times I can refinance?

      There is no set limit to how many times you are allowed to refinance. Some surveyed RateCity users have refinanced up to three times.

      However, if you refinance several times in short succession, it could affect your credit score. Lenders assess your credit score when you apply for new loans, so if you end up with bad credit, you may not be able to refinance if and when you really need to.

      Before refinancing multiple times, consider getting a copy of your credit report and ensure your credit history is in good shape for future refinances.

      Will I be paying two mortgages at once when I refinance?

      No, given the way the loan and title transfer works, you will not have to pay two mortgages at the one time. You will make your last monthly repayment on loan number one and then the following month you will start paying off loan number two.

      If I don't like my new lender after I refinance, can I go back to my previous lender?

      If you wish to return to your previous lender after refinancing, you will have to go through the refinancing process again and pay a second set of discharge and upfront fees. 

      Therefore, before you refinance, it’s important to weigh up the new prospective lender against your current lender in a number of areas, including fees, flexibility, customer service and interest rate.

      Can I refinance if I have other products bundled with my home loan?

      If your home loan was part of a package deal that included access to credit cards, transaction accounts or term deposits from the same lender, switching all of these over to a new lender can seem daunting. However, some lenders offer to manage part of this process for you as an incentive to refinance with them – contact your lender to learn more about what they offer.

      What is a standard variable rate (SVR)?

      The standard variable rate (SVR) is the interest rate a lender applies to their standard home loan. It is a variable interest rate which is normally used as a benchmark from which they price their other variable rate home loan products.

      A standard variable rate home loan typically includes most, if not all the features the lender has on offer, such as an offset account, but it often comes with a higher interest rate attached than their most ‘basic’ product on offer (usually referred to as their basic variable rate mortgage).

      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.

      When should I switch home loans?

      The answer to this question is dependent on your personal circumstances – there is no best time for refinancing that will apply to everyone.

      If you want a lower interest rate but are happy with the other aspects of your loan it may be worth calling your lender to see if you can negotiate a better deal. If you have some equity up your sleeve – at least 20 per cent – and have done your homework to see what other lenders are offering new customers, pick up the phone to your bank and negotiate. If they aren’t prepared to offer you lower rate or fees, then you’ve already done the research, so consider switching.

      What is a split home loan?

      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.

      How do I refinance my home loan?

      Refinancing your home loan can involve a bit of paperwork but if you are moving on to a lower rate, it can save you thousands of dollars in the long-run. The first step is finding another loan on the market that you think will save you money over time or offer features that your current loan does not have. Once you have selected a couple of loans you are interested in, compare them with your current loan to see if you will save money in the long term on interest rates and fees. Remember to factor in any break fees and set up fees when assessing the cost of switching.

      Once you have decided on a new loan it is simply a matter of contacting your existing and future lender to get the new loan set up. Beware that some lenders will revert your loan back to a 25 or 30 year term when you refinance which may mean initial lower repayments but may cost you more in the long run.

      What is an investment loan?

      An investment loan is a home loan that is taken out to purchase a property purely for investment purposes. This means that the purchaser will not be living in the property but will instead rent it out or simply retain it for purposes of capital growth.

      What is equity? How can I use equity in my home loan?

      Equity refers to the difference between what your property is worth and how much you owe on it. Essentially, it is the amount you have repaid on your home loan to date, although if your property has gone up in value it can sometimes be a lot more.

      You can use the equity in your home loan to finance renovations on your existing property or as a deposit on an investment property. It can also be accessed for other investment opportunities or smaller purchases, such as a car or holiday, using a redraw facility.

      Once you are over 65 you can even use the equity in your home loan as a source of income by taking out a reverse mortgage. This will let you access the equity in your loan in the form of regular payments which will be paid back to the bank following your death by selling your property. But like all financial products, it’s best to seek professional advice before you sign on the dotted line.

      Remaining loan term

      The length of time it will take to pay off your current home loan, based on the currently-entered mortgage balance, monthly repayment and interest rate.

      How can I get ANZ home loan pre-approval?

      Shopping for a new home is an exciting experience and getting a pre-approval on the loan may give you the peace of mind that you are looking at properties within your budget. 

      At the time of applying for the ANZ Bank home loan pre-approval, you will be required to provide proof of employment and income, along with records of your savings and debts.

      An ANZ home loan pre-approval time frame is usually up to three months. However, being pre-approved doesn’t necessarily mean you will get your home loan. Other factors could lead to your home loan application being rejected, even with a prior pre-approval. Some factors include the property evaluation not meeting the bank’s criteria or a change in your financial circumstances.

      You can make an application for ANZ home loan pre-approval online or call on 1800100641 Mon-Fri 8.00 am to 8.00 pm (AEST).

      How can I apply for a first home buyers loan with Commonwealth Bank?

      Getting a home loan requires planning and research. If you are considering a home loan with the Commonwealth Bank, you can find the information you need in the buying your first home section of the bank’s website.

      You can see the steps you should take before applying for the loan and use the calculators to work out how much you can borrow, what your monthly repayments would be and the upfront costs you’d likely pay.

      You can also book a time with a Commonwealth first home loan specialist by calling 13 2221.

      CommBank publishes a property report that may help you understand the real estate market. The bank has also created a CommBank Property App that you can use to search for property.  The link to download this app is available on the same webpage.

      If you are eligible for the First Home Loan Deposit Scheme, CommBank will help you process your application. The scheme helps first home buyers to purchase a home with a low deposit. You can read details about this scheme here and speak with a CommBank home lending specialist to understand your options.

      Where can I get all the information about an ANZ first home buyer’s loan?

      As a first home buyer, you may require help and hand-holding, and as such ANZ has the buying your first home section on its website full of important information. ANZ also has a form in this section you can fill out to get a free consultation from an ANZ First Home Coach and create your own plan for buying your first home. This coach will help you understand where your current income is being spent and plan for your home loan repayments. You’ll get a clear picture of the costs involved in purchasing a property and how to budget or save for these costs. The coach will help you understand different deposit options and manage your accounts to enhance your savings.

      There are three types of ANZ first home loans - Standard Variable, Fixed, and Equity Manager. The features, interest rates, and terms for each are different, and you can compare them here.

      When they apply for an ANZ home loan, first home buyers can also get guidance on applying for the First Home Owner Grant (FHOG). This is a one-off government grant that may be available to you when you’re buying your first home. The eligibility criteria for FHOG differs between the different states and territories, which is why it’s helpful to have expert advice when applying.