Auswide Bank

Line of Credit Home Loan

Advertised Rate

5.51%

Variable

Comparison Rate*

5.67%

Maximum LVR
80%
Real Time Rating™

0.98

/ 5
Monthly Repayment

$1,705

based on $300,000 loan amount for 25 years

Advertised Rate

5.51%

Variable

Comparison Rate*

5.67%

Maximum LVR
80%
Real Time Rating™

0.98

/ 5
Monthly Repayment

$1,705

based on $300,000 loan amount for 25 years

Calculate repayment for Auswide Bank product

I'd like to borrow

$

Loan term

years

Your estimated repayment

$1,705

based on $300,000 loan amount for 25 years

Based on your details, Auswide Bank is available through brokers

Collins Mayaki

4.8
87 Reviews

Get expert advice from a home loan specialist.

Collins is a qualified mortgage broker. Request a callback to discuss your home loan needs.

Response time: in 31 minutes

Our brokers call during business hours between 9.00am to 6.00pm.

Glenn Rowan

5.0
29 Reviews

Get expert advice from a home loan specialist.

Glenn is a qualified mortgage broker. Request a callback to discuss your home loan needs.

Response time: in 33 minutes

Our brokers call during business hours between 9.00am to 6.00pm.

Gali Alon

5.0
13 Reviews

Get expert advice from a home loan specialist.

Gali is a qualified mortgage broker. Request a callback to discuss your home loan needs.

Response time: in 4 hours

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

    Auswide Bank Features and Fees

    Auswide Bank Features and Fees

    Details

    Maximum LVR

    80%

    Total Repayments

    Next LVR

    Interest rate type

    Variable

    Borrowing range

    Suitable for

    Line of Credit, Owner Occupiers

    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

      Line of Credit, Owner Occupiers

      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

      Auswide Bank is available through brokers

      FAQs

      What is a building in course of erection loan?

      Also known as a construction home loan, a building in course of erection (BICOE) loan loan allows you to draw down funds as a building project advances in order to pay the builders. This option is available on selected variable rate loans.

      What is an ombudsman?

      An complaints officer – previously referred to as an ombudsman -looks at formal complaints from customers about their credit providers, and helps to find a fair and independent solution to these problems.

      These services are handled by the Australian Financial Complaints Authority, a non-profit government organisation that addresses and resolves financial disputes between customers and financial service providers.

      Mortgage Calculator, Loan Amount

      How much you intend to borrow. 

      Mortgage Calculator, Loan Results

      These are the loans that may be suitable, based on your pre-selected criteria. 

      Mortgage Balance

      The amount you currently owe your mortgage lender. If you are not sure, enter your best estimate.

      Does Real Time Ratings' work for people who already have a home loan?

      Yes. If you already have a mortgage you can use Real Time RatingsTM to compare your loan against the rest of the market. And if your rate changes, you can come back and check whether your loan is still competitive. If it isn’t, you’ll get the ammunition you need to negotiate a rate cut with your lender, or the resources to help you switch to a better lender.

      What factors does Real Time Ratings consider?

      Real Time RatingsTM uses a range of information to provide personalised results:

      • Your loan amount
      • Your borrowing status (whether you are an owner-occupier or an investor)
      • Your loan-to-value ratio (LVR)
      • Your personal preferences (such as whether you want an offset account or to be able to make extra repayments)
      • Product information (such as a loan’s interest rate, fees and LVR requirements)
      • Market changes (such as when new loans come on to the market)

      What is the ratings scale?

      The ratings are between 0 and 5, shown to one decimal point, with 5.0 as the best. The ratings should be used as an easy guide rather than the only thing you consider. For example, a product with a rating of 4.7 may or may not be better suited to your needs than one with a rating of 4.5, but both are probably much better than one with a rating of 1.2.

      Mortgage Calculator, Loan Term

      How long you wish to take to pay off your loan. 

      How does a redraw facility work?

      A redraw facility attached to your loan allows you to borrow back any additional repayments that you have already paid on your loan. This can be a beneficial feature because, by paying down the principal with additional repayments, you will be charged less interest. However you will still be able to access the extra money when needed.

      Mortgage Calculator, Interest Rate

      The percentage of the loan amount you will be charged by your lender to borrow. 

      How common are low-deposit home loans?

      Low-deposit home loans aren’t as common as they once were, because they’re regarded as relatively risky and the banking regulator (APRA) is trying to reduce risk from the mortgage market.

      However, if you do your research, you’ll find there is still a fairly wide selection of banks, credit unions and non-bank lenders that offers low-deposit home loans.

      What is a specialist lender?

      Specialist lenders, also known as non-conforming lenders, are lenders that offer mortgages to ‘non-vanilla’ borrowers who struggle to get finance at mainstream banks.

      That includes people with bad credit, as well as borrowers who are self-employed, in casual employment or are new to Australia.

      Specialist lenders take a much more flexible approach to assessing mortgage applications than mainstream banks.

      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.

      Why should you trust Real Time Ratings?

      Real Time Ratings™ was conceived by a team of data experts who have been analysing trends and behaviour in the home loan market for more than a decade. It was designed purely to meet the evolving needs of home loan customers who wish to merge low cost with flexible features quickly. We believe it fills a glaring gap in the market by frequently re-rating loan products based on the changes lenders make daily.

      Real Time Ratings™ is a new idea and will change over time to match the frequently-evolving demands of the market. Some things won’t change though – it will always rate all relevent products in our database and will not be influenced by advertising.

      If you have any feedback about Real Time Ratings™, please get in touch.

      How much information is required to get a rating?

      You don’t need to input any information to see the default ratings. But the more you tell us, the more relevant the ratings will become to you. We take your personal privacy seriously. If you are concerned about inputting your information, please read our privacy policy.

      What is bridging finance?

      A loan of shorter duration taken to buy a new property before a borrower sells an existing property, usually taken to cover the financial gap that occurs while buying a new property without first selling an older one.

      Usually, these loans have higher interest rates and a shorter repayment duration.

      Savings over

      Select a number of years to see how much money you can save with different home loans over time.

      e.g. To see how much you could save in two years by switching mortgages,  set the slider to 2.

      Who offers 40 year mortgages?

      Home loans spanning 40 years are offered by select lenders, though the loan period is much longer than a standard 30-year home loan. You're more likely to find a maximum of 35 years, such as is the case with Teacher’s Mutual Bank

      Currently, 40 year home loan lenders in Australia include AlphaBeta Money, BCU, G&C Mutual Bank, Pepper, and Sydney Mutual Bank.

      Even though these lengthier loans 35 to 40 year loans do exist on the market, they are not overwhelmingly popular, as the extra interest you pay compared to a 30-year loan can be over $100,000 or more.

      Mortgage Calculator, Loan Purpose

      This is what you will use the loan for – i.e. investment.