Aussie Optimizer 1 Year Discounted Basic Variable Home Loan

Rates and Fees verified correct on December 11th, 2016

Enjoy a range of discounted rates and flexible features with the Aussie Optimizer 1 Year Discounted Basic Variable home loan

The Aussie Optimizer 1 Year Discounted Basic Variable home loan offers you a discounted variable rate for the first year, with better discounts offered if you keep your Loan to Value Ratio (LVR) under 80%.

This helps you reduce your home loan costs during the crucial first year of moving in, during which it's not uncommon to have to pay for unexpected repairs and extra purchases such as new furniture.

This loan also offers flexibility in terms of repayments and allows you to take advantage of split rates, revert to a fixed rate home loan and even make interest-only payments.

Interest Rate Max Insured LVR Max LVR
$100k+ LVR <= 80% (Investor) I/O
4.47% p.a.
Comparison Rate
4.61% p.a.
80% 80%
$100k+ LVR <= 80% (Investor) P&I
4.32% p.a.
Comparison Rate
4.46% p.a.
80% 80%
$100k+ LVR <= 80% (Owner Occupier) I/O
4.22% p.a.
Comparison Rate
4.36% p.a.
80% 80%
$100k+ LVR 80.01% to 90% (Investor) I/O
4.57% p.a.
Comparison Rate
4.71% p.a.
90% 80%
$100k+ LVR 80.01% to 90% (Investor) P&I
4.37% p.a.
Comparison Rate
4.51% p.a.
90% 80.01%
Product NameAussie Optimizer 1 Year Discounted Basic Variable Home Loan
Interest Rate TypeVariable
Comp Rate^ (p.a.)
Minimum Loan Amount$100,000
Maximum Loan Amount$5,000,000
Maximum Loan Term30 years
Maximum LVR80%
Maximum Insured LVR90%
Mortgage Offset AccountNo
Mortgage 100% OffsetNo
Loan Redraw FacilityYes
Split Loan FacilityYes
Fixed Interest OptionYes
Loan PortableYes
Suitable for InvestmentYes
Extra RepaymentYes
Available as equity loan/line of creditNo
Repayment TypePrincipal & Interest and Interest Only Options
Application Fee$0
Lender's Legal Fee$0
Valuation Fee$300
Ongoing Fees$0 p.a.
Settlement Fee$0
Discharge Fee$400

Pros

  • Lower rate for the first year
  • Lower rate if your LVR is under 80%
  • No application fees

Cons

  • Portability fee of $300
  • Not available for investors
  • Minimum deposit of 10% required

Things to consider about the Aussie Optimizer 1 Year Discounted Basic Variable home loan

This loan is classified as a honeymoon rate loan, meaning it offers a lower rate for one year, and then after this year your rate will increase. There are two different rates for this loan, one for LVRs under 80% and one for LVRs between 80.01 and 90%.

The Aussie Optimizer 1 Year Discounted Basic Variable home loan is best suited for residential purposes. This loan is a full documentation loan, meaning that you must be able to supply the full range of income evidence required, including payslips.

If you can’t supply these income documents, you might be interested in the Aussie Low Doc Home Loan, which is suitable for those who are self-employed or don’t have a steady employed.

Features of the Aussie Optimizer 1 Year Discounted Basic Variable home loan

  • Loan amount. The minimum you can borrow on this home loan is $100,000 and a maximum is $5,000,000. Aussie will determine how much you can actually qualify for with the possibility of approving amounts of up to 90%of the property value.
  • Payment frequency. This loan offers the flexibility to make repayments that suit your income. There are options to make fortnightly or monthly principal and interest repayments, with an option to make interest-only repayments on your loan for a maximum period of five years.
  • Flexible loan structure. You can convert to a fixed rate at any time with the Aussie Optimizer 1 Year Discounted Basic Variable home loan. You can also split your home loan for free at any time before settlement.
  • Redraw facility. You are allowed to make additional repayments on your Aussie Optimizer 1 Year Discounted Basic Variable home loan at any time and access those repayments whenever you want. You can also access the funds quickly via the internet, phone, BPAY, ATM or EFTPOS. Redraws are free if carried out over the internet or via the telephone.

Fees

Fees you can avoid
  • Application fee. This is usually a one-off fee that covers the setting up of the loan. The Aussie Optimizer 1 Year Discounted Basic Variable home loan has no application fee.
  • Valuation fee. Aussie will cover the first valuation worth up to $300 for your property.
  • Loan settlement fee. You don’t have to worry about paying this with the Aussie Optimizer 1 Year Discounted Basic Variable home loan since this loan has no settlement fee.
  • Redraw fees. You can redraw additional repayments on your Aussie Optimizer 1 Year Discounted Basic Variable home loan for free if you redraw the funds online or via telephone access.
  • Loan conversion fees. You can convert to a fixed rate at any time during the loan term at no extra cost if you need to be certain of what your repayments will be for a certain period.
  • Split loan costs. You can also split the rate on your Aussie Optimizer 1 Year Discounted Basic Variable home loan at no extra cost.
  • Discharge fee. If you wish to exit your home loan early, you will have to pay a discharge fee of $400.
  • Loan variation fees. The Aussie Optimizer 1 Year Discounted Basic Variable home loan has a variation fee of $300 if you opt to apply for an increase to your principal amount after settling your current home loan. The variation is however, subject to approval by the bank.
Fees you can’t avoid

There are no major fees which are unavoidable with this loan, but as always, there might be smaller fees and charges which you’ll have to pay for. For this reason it’s highly recommended you read the terms and conditions for the Aussie Optimizer 1 Year Discounted Basic Variable home loan before applying.

Know how much you want to borrow? Use our calculator to find out what your repayments will be

How to apply for the Aussie Optimizer 1 Year Discounted Basic Variable home loan

If you’d like to apply for this home loan, please click ‘Go to Site’ to speak to Aussie about this loan.

Please note that you will need to satisfy the following eligibility criteria:

  • You must be above the age of 18.
  • You are required to be an Australian Citizen with permanent residency in Australia.

The following documents will also be required:

  • Proof of income - Bank statements, pay slips and tax returns
  • Employer details - Contact details, names and addresses.

The Aussie Optimizer 1 Year Discounted Basic Variable home loan gives you flexible financing for residential purposes, with discounted interest rates and a range of features.

Compare different home loans on finder.com.au and apply for one that offers you what you what today.


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Aussie Optimizer 1 Year Discounted Basic Variable Home Loan Interest Rate History vs RBA Cash Rate Graph


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This page was last modified on 10 July 2015 at 12:32.

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Aussie Optimizer 1 Year Discounted Basic Variable Home Loan

  • Interest Rate

    N/A

  • Comparison Rate

    N/A

  • App Fee / Annual Service Fee

    $0 / $0

  • Max LVR

    80%

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