Enjoy a fixed rate home loan with the flexibility to make extra repayments
When you fix your home loan you know your repayments won't change. It's a great way to gain control over your household budget. A fixed rate home loan can be an option to consider for people who are looking for certainty with their mortgage repayments.
| Product Name | Aussie Select Basic Fixed Rate Home Loan |
|---|---|
| Interest Rate Type | Fixed |
| Comp Rate^ (p.a.) | |
| Minimum Loan Amount | $100,000 |
| Maximum Loan Amount | $5,000,000 |
| Maximum Loan Term | 30 years |
| Maximum LVR | 80% |
| Maximum Insured LVR | 90% |
| Mortgage Offset Account | No |
| Mortgage 100% Offset | No |
| Loan Redraw Facility | No |
| Split Loan Facility | Yes |
| Loan Portable | Yes |
| Suitable for Investment | Yes |
| Extra Repayment | Yes |
| Available as equity loan/line of credit | No |
| Repayment Type | Principal & 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 | $535 |
Pros
- There are $0 application fee.
- There is $0 annual service fee.
- Make additional payments up to 5% of the loan amount each year during the fixed term.
Cons
- There is a $0 settlement fee.
- A $535 discharge fee applies when you pay off your home loan.
Features of the Aussie Select Basic Fixed Rate
The Aussie Select Basic Fixed Rate Home Loan offers several features to borrowers including:
- Loan to Value Ratio (LVR): There's a maximum LVR of 80% - 90%, with Lender's Mortgage Insurance (LMI) payable for amounts above 80%.
- Loan Term: This loan can be taken out for a term of up to 30 years, giving you the flexibility to pay off your loan at a pace which suits you.
- Minimum amount: This loan can be taken out for a minimum amount of $100,000 up to amounts of $5,000,000, subject to LVR and lending criteria.
- Repayment flexibility. You can set your payments to principal and interest repayments, or you can choose the interest-only option. The maximum interest-only period allowed is five years. Your payment frequency can also be changed from the standard monthly payments over to fortnightly repayments if this suits you better.
- Extra repayments. You are able to make extra payments that are over and above your regular minimum repayment amounts. Be aware that your additional payments are limited to 5% of the loan balance each year before penalties may be charged. For example, if your loan balance is $300,000 you can make an additional $15,000 in payments on top of your normal minimum payment amounts each year without being penalised.
Purposes you could use the Aussie Select Basic Fixed Rate Home Loan for
The Aussie Select Basic Fixed Rate Home Loan is suitable for personal residential purposes and for investment use. You're able to purchase an existing home or refinance a current mortgage from another lender. This loan however isn't suitable for constructing a new dwelling. You can borrow up 90% of the property value with this loan. However, any loan amount that exceeds 80% of the property value may incur a Lender's Mortgage Insurance fee.
Fees
Fees you can avoid
- Ongoing account keeping fees: $0. There aren't any ongoing account keeping fees with this loan.
- Application fee: $0. There is also no application fee with this loan.
- Settlement fee: $0. This fee is charged to prepare your loan documents when you take out your loan.
Fees you can't avoid
- Valuation fee: The first valuation fee up to $300 is free with this loan.
- Discharge fee: $535. The fee is charged when you have paid off your loan to cover the cost of discharging the mortgage documents.
Please be advised that additional break costs may apply if you repay your entire home loan balance during the fixed term.
How to apply for this loan
If you're ready to apply for this home loan, you can simply click on the 'Enquire Now' button on this page. This will open a form where you can enter your contact information. A local Aussie broker will get in contact with you within one business day.
Enquire about this home loan
Hi,
Can I make additional repayments through Auspost (or any other means) instead of online?
Thanks
Hi Ana,
Thanks for your enquiry.
If you’d like to make additional repayments other than online, you can do so at an Aussie branch.
Thanks,
Belinda
Thinking of purchasing an investment property and was wondering what are the fees for borrowing 85%, 90% and 95% LVR based on a property valued at 900k ?
Thanks
Vito
Hi Vito,
Thanks for your question.
There is no specific ‘LVR fee’ associated with the Aussie Select Basic Fixed home loan, so all the standard fees and charges apply. Please refer to the fees tab for a list of fees you could be liable for*:
Legal fee – $363
Settlement fee – $100
Exit fee – $400
*Correct at the time of writing.
If you’d like, you can click to ‘go to site’ to get in touch with a home loan consultant from Aussie for a full disclosure of the fees you could be liable for.
Cheers,
Shirley