Aussie Optimizer Standard Fixed Rate Home Loan

Rates and Fees verified correct on December 4th, 2016

A fixed rate loan that lets borrowers make additional repayments on their loan

It's not often that a mortgage with a fixed rate of interest lets borrowers make additional repayments without incurring a penalty. But the Aussie Optimizer Fixed Rate loan lets you do just that.

This loan is fixed for a period and Aussie also offer a range of fixed rate loans, from one to five years. If you're looking for a variable rate of interest, Aussie also offer the Optimizer Standard Variable Rate Home Loan.

Aussie Optimizer Standard Fixed Rate loan Overview

Interest Rate Max Insured LVR Max LVR
1 Year Fixed Rate (Investor) I/O
4.39% p.a.
Comparison Rate
4.49% p.a.
95% 80%
1 Year Fixed Rate (Owner Occupier) P&I
3.99% p.a.
Comparison Rate
4.18% p.a.
95% 90%
1 Year Fixed Rate (Owner Occupier) I/O
4.19% p.a.
Comparison Rate
4.20% p.a.
95% 80%
1 Year Fixed Rate (Investor) P&I
4.39% p.a.
Comparison Rate
4.36% p.a.
95% 80%
2 Year Fixed Rate (Owner Occupier) P&I
3.94% p.a.
Comparison Rate
4.15% p.a.
95% 90%
2 Year Fixed Rate (Owner Occupier) I/O
4.14% p.a.
Comparison Rate
4.19% p.a.
95% 80%
2 Year Fixed Rate (Investor) I/O
4.24% p.a.
Comparison Rate
4.45% p.a.
95% 80%
2 Year Fixed Rate (Investor) P&I
4.09% p.a.
Comparison Rate
4.30% p.a.
95% 80%
3 Year Fixed Rate (Owner Occupier) I/O
4.19% p.a.
Comparison Rate
4.20% p.a.
95% 80%
3 Year Fixed Rate (Owner Occupier) P&I
3.99% p.a.
Comparison Rate
4.15% p.a.
95% 90%
3 Year Fixed Rate (Investor) P&I
4.09% p.a.
Comparison Rate
4.28% p.a.
95% 80%
3 Year Fixed Rate (Investor) I/O
4.24% p.a.
Comparison Rate
4.43% p.a.
95% 80%
4 Year Fixed Rate (Owner Occupier) I/O
4.39% p.a.
Comparison Rate
4.27% p.a.
95% 80%
4 Year Fixed Rate (Owner Occupier) P&I
4.19% p.a.
Comparison Rate
4.20% p.a.
95% 90%
4 Year Fixed Rate (Investor) P&I
4.34% p.a.
Comparison Rate
4.35% p.a.
95% 80%
4 Year Fixed Rate (Investor) I/O
4.54% p.a.
Comparison Rate
4.52% p.a.
95% 80%
5 Year Fixed Rate (Owner Occupier) P&I
3.99% p.a.
Comparison Rate
4.12% p.a.
95% 90%
5 Year Fixed Rate (Owner Occupier) I/O
4.19% p.a.
Comparison Rate
4.20% p.a.
95% 80%
5 Year Fixed Rate (Investor) I/O
4.34% p.a.
Comparison Rate
4.44% p.a.
95% 80%
5 Year Fixed Rate (Investor) P&I
4.14% p.a.
Comparison Rate
4.27% p.a.
95% 80%
Product NameAussie Optimizer Fixed Rate Home Loan
Interest Rate TypeFixed
Comp Rate^ (p.a.)
Minimum Loan Amount$100,000
Maximum Loan Amount$5,000,000
Minimum Loan Term1 year
Maximum Loan Term30 years
Maximum LVR80%
Maximum Insured LVR95%
Mortgage Offset AccountNo
Mortgage 100% OffsetNo
Loan Redraw FacilityNo
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$363
Valuation Fee$0
Ongoing Fees$0 p.a.
Settlement Fee$100
Discharge Fee$400
Early Termination Fee$0

Pros

  • There is $0 application fee.
  • There is $0 ongoing service fees.
  • Pay additional payments without penalty during the fixed term.

Cons

  • There is a $100 settlement fee.
  • No redraw facility during the fixed term.
  • A $400 discharge fee applies when you close your home loan account.

Things to consider about this loan

The Aussie Optimizer Fixed Rate Home Loan has a maximum loan size of $5,000,000 - any loan amount over this will be assessed on a case by case basis. Aussie will consider things like the size of the deposit and the loan to value ratio (LVR) when judging an applicant who wishes to borrow over the maximum amount. The minimum loan size is $100,000.

At the end of the fixed rate loan term, this loan will revert to the Aussie Basic Variable Rate Home Loan. However, there are break costs if you choose to end the fixed rate term early. This loan can be used for residential purposes only, if you're looking at constructing a dwelling, you may want to consider loans more suitable for construction.


Aussie Optimizer Standard Year Fixed Rate Home Loan features

  • Loan terms: This loan is available for a period of up to 30 years. Although this product is set at a fixed rate of interest, once the fixed interest period has finished, borrowers have the option of locking in for another fixed period, for one to five years or letting the loan revert to the standard variable rate.
  • LVR: The maximum loan to value ratio for this loan is 80%. This means you can borrow up to 80% of the value of the property you wish to purchase. If you're willing to pay lender's mortgage insurance, you can borrow up to 95% LVR. This amount includes LMI capitalisation. An LVR of 95% makes this a great loan for first home buyers who are looking to break into the property market, but may not have the deposit required by some lenders.
  • Repayment flexibility: This loan offers borrowers flexibility in the way they pay their loan and how often they choose to pay it. Choose between principal and interest or interest-only repayments. Interest-only repayments are a great way to cut down on mortgage repayments but there are limits to how long interest-only payments are accepted - interest-only repayments can be made for a maximum period of five years.
  • Repayment frequency: Borrowers can also choose their repayment frequency, whether it be fortnightly or monthly. Payments can be made via online facilities and direct debit.
  • Additional repayments. Value adding features like the ability to make additional repayments during the fixed term without penalty also offers flexibility to borrowers. Additional repayments are a great way to get ahead on your home loan and often incur a penalty with made during the fixed rate period, borrowers are free to make additional repayments up to 5% of the total value of the loan without incurring additional charges. It is worth mentioning that this loan does not offer a redraw facility. Any repayments made onto the loan can not be redrawn during the fixed loan period.
  • Account access: Borrowers can access their account over the internet or via telephone. Accessing your account through these channels

Aussie Optimizer Standard Fixed Rate Home Loan fees

There are fees associated with this loan that the borrower can and can't avoid.

Fees you can avoid:

  • Ongoing fees: $0. Once your loan has been set up, there are no ongoing or account maintenance fees payable.
  • Break costs: if you choose to break your fixed rate term early, break costs will apply.

Fees you can't avoid:

  • Application fee: $0. This is a fee charges for the processing of your application.
  • Settlement fee: $100. This is charged when your loan has been settled.
  • Solicitors fees and disbursements: These are fees to cover solicitor's costs in addition to any fees a solicitor has incurred while processing your case.
  • Discharge fee: $400. This is a fee payable when you exit your mortgage contract at the end of the loan period.

Find out what your repayments will be in a few seconds

Applying for this loan

If you are considering this loan and want to take steps to find out more information from an Aussie Mortgage Specialist, click the enquire button to be securely redirected to the Aussie Mortgage Broking Service. From here, you will need nothing more than your basic personal information to arrange a time for an Aussie mortgage broker to contact you, discuss your needs and how this is suited to a Aussie loan.


Enquire about this home loan

Aussie Optimizer Standard Fixed Rate Home Loan Interest Rate History vs RBA Cash Rate Graph


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This page was last modified on 1 July 2015 at 10:58.

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2 Responses to Aussie Optimizer Standard Fixed Rate Home Loan

  1. Default Gravatar
    Louise | January 29, 2015

    Hi

    Could i please have asomeone make contact with me about refinancing my home loan?

    Many thanks
    Louise

    • Staff
      Shirley | January 29, 2015

      Hi Louise,

      Thanks for your question.

      This is certainly possible, if you click on ‘go to site’ you’ll be taken to a page where you can put in a few of details, and an Aussie consultant will get in touch with you about your enquiry.

      Cheers,
      Shirley

Aussie Optimizer Fixed Rate Home Loan

  • Interest Rate

    N/A

  • Comparison Rate

    N/A

  • App Fee / Annual Service Fee

    $0 / $0

  • Max LVR

    80%

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