86 400 Neat home loan – variable

With competitive interest rates for both home buyers and investors, this variable rate loan offers flexibility and affordability from a digital lender.

With unlimited extra repayments, the Neat home loan – variable from 86 400 offers both competitive interest rates and the flexibility to repay your home loan faster. Interest rates are lower for those with bigger deposits, and the loan is available for both home buyers and investors, with the choice to make interest-only repayments for a set period.

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Review by


A finance and property journalist of more than 15 years, Sarah is the Senior Editor for Home Loans at Finder. She was previously the Managing Editor of Your Investment Property magazine, Australian Broker magazine, and Your Mortgage, a home loan comparison site. She has written for The Sydney Morning Herald, Canstar, Bupa, Mamamia, Kidspot, Jetstar, Tourism Australia, and she has ghostwritten or edited over 20 books. Sarah also has a Bachelor of Arts in Communication from Griffith University. As a home loans expert, she is a regular media commentator and has a wealth of experience around mortgages, managing money and investing in real estate. Sarah is passionate about showing Australians how to make their money work harder.

Expert review

This variable rate loan has a number of flexible features designed for borrowers who are focused on keeping costs as low as possible and repaying their home loan sooner. It offers competitive rates, with rates dropping further for those with a larger deposit (a 40% deposit or more gets you the cheapest rate) and there are no ongoing fees.

When you apply for the loan, your property valuation is free (up to $300), and you can make unlimited extra repayments. You can also have a redraw account, which allows you to withdraw those extra repayments if you need access to your funds.

As one of the newer lenders operating in Australia, 86 400 is a digital bank that is entirely online, with no “bricks and mortar” locations. It combines a fast online application process with a smartphone app that lets you proactively manage your money and your home loan. This is ideally suited for tech-savvy borrowers who want a low interest rate, flexible features and convenient app-based banking with their loan.

About this loan

What are the features and benefits of the 86 400 Neat home loan – variable?

  • Accessible. The 86 400 Neat home loan – variable is available for both owner-occupiers (home buyers) and property investors. It has different rates for each. Borrowers can also choose interest-only repayments.
  • Loan-to-value ratio. You can borrow up to 80% of your property's value.
  • Features. This loan lets you make unlimited extra repayments, allowing you to funnel money into the loan to pay it off sooner. It also has a redraw facility, so you can access those extra repayments if needed.
  • Fees. The loan has an application fee, but there are no annual and ongoing fees and the initial valuation fee is also free (up to $300).

What fees and charges come with this loan?

86 400 charges some fees with this loan:

  • Application fee: $0. This fee covers the administrative cost of processing a home loan application and it is a one-off fee.
  • Valuation fee: $0. The valuation fee is free up to $300. If the valuation costs more than this, the borrower is required to pay the difference

How to apply

If you'd like to apply for this home loan or just get more information, click the green button and follow the application process to speak to an 86 400 mortgage specialist.

Eligibility

To be eligible for an 86 400 home loan, you will need to meet the following criteria:

  • Be an Australian citizen or permanent resident.
  • Have a good credit history.
  • Be buying a residential property (not vacant land).

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