Pay your home loan off sooner without the extra features you don't need
The Aussie Optimiser Variable Rate Home Loan offers a competitive variable interest rate as well as account management fee. If you are borrowing over $350,000 then you may want to consider this loan.
Key features of the Aussie Optimizer Variable Rate Home Loan
|Product Name||Aussie Optimizer Variable Rate|
|Interest Rate Type||Variable|
|Comp Rate^ (p.a.)|
|Minimum Loan Amount||$350,000|
|Maximum Loan Amount||$5,000,000|
|Minimum Loan Term||5 years|
|Maximum Loan Term||30 years|
|Maximum Insured LVR||95%|
|Mortgage Offset Account||No|
|Mortgage 100% Offset||No|
|Loan Redraw Facility||Yes|
|Split Loan Facility||Yes|
|Fixed Interest Option||No|
|Suitable for Investment||Yes|
|Available as equity loan/line of credit||No|
|Repayment Type||Principal & Interest and Interest Only Options|
|Lender's Legal Fee||$363|
|Ongoing Fees||$0 p.a.|
|Early Termination Fee||$0|
- There is $0 application fee
- There is $0 monthly fee to pay
- You can make extra payments without penalty
- You can withdraw excess funds from the mortgage with the redraw facility (minimum redraw amount applies)
- There is a settlement fee of $100
- A $400 discharge fee applies when you close your home loan account
- Minimum loan size is $350000
Things to consider about the Aussie Optimizer Variable Rate Home Loan
The Aussie Optimizer Variable Rate Home Loan is an option for any individual looking for a residential property. It has flexible interest rates and loan options available in order to cater for any individual.
It's only available for residential properties and is available as a full documentation loan. If you’re looking for a low documentation option you can contact Aussie to explore your options.
Features of the Aussie Optimizer Variable Rate Home Loan
- Easy access to loan. You can access your account via internet, telephone and B-Pay
- Flexible repayment options. Change to a fixed interest rate at any time with no additional costs, choose to repay monthly or fortnightly. You can also have interest-only repayments for a maximum of five years or principal and interest repayments. You also have the option of paying by direct salary, direct debit and optional additional payments made anytime free of charge.
- Redraw facility. This facility let's you access the additional funds you repay on your loan whenever you need it. This gives you the flexibility to withdraw your extra repayments for when you need to fund at unexpected times. $1,000 redraw minimum for automatic self-help transaction through use of website.
- Discounted variable rates. These are subject to the LVR - the lower the LVR the higher the discount.
- Split your loan. This feature is free of charge and at anytime, but with a maximum of two splits prior to settlement and a maximum of six in total. This simply means you can apply for a fixed rate on a part of your loan. No charges will be levied if done before settlement.
- Loan portability. Loan portability allows you to bring your loan with you if you sell your property and buy a new one - saving you the costs of applying for a new loan. Loan variations may be opted for, but are subject to approval and only up to six months after settlement. After settlement, another loan may be applied for to the original loan amount.
Fees you can avoid
- Application fees. $0.
- Valuation fees. $0 charges for 1st valuation, thereafter $300
- Additional statements. $15 is charged only if you need additional statements.
- Redraw fee. $0 online, or $50 when applying through the customer service team.
- Split fee. $300 charges when wanting to split the loan after settlement and after maximum amount of splits have been utilised.
- Discharge fee. $400.
Fees you can’t avoid
- Settlement fee. $100 loan settlement fee
- Solicitors fees to be advised
Calculate your repayments by filling in some of your details
How to apply
If you think the Aussie Optimizer Variable Rate Home Loan is for you then clicking ‘Enquire Now’ will open a form which you can fill out to speak to a local Aussie broker. After filling out your details you'll receive a call back within one business day.
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Aussie Optimizer Variable Rate Home Loan Interest Rate History vs RBA Cash Rate Graph
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