Aussie Select Basic Variable Rate Home Loan

Rates and Fees verified correct on December 9th, 2016

Want competitive rates, flexibility, and fair fees with Aussie Home Loans?

Most would-be homeowners all want the same things from a home loan, and the Aussie Select Basic Variable Rate Home Loan ticks all those boxes of competitive rates with a range of features, making it an attractive possibility for those looking for a new mortgage.

Aussie is currently offering all new investment customers who take out a new Select Investment loan, refinance their current loan to Aussie or increase their loan by more than $250,000 with an LVR of up to 70% $1,000 cashback.

The offer is available to all loans unconditionally approved before 31 March 2016 and settled by 30 June 2016. Other terms and conditions may apply please see the Aussie Home Loans website for more information.

Interest Rate Max Insured LVR Max LVR
<$500k (LVR <= 80%) (Investor)
4.09% p.a.
Comparison Rate
4.10% p.a.
80% 80%
<$500k (LVR <= 80%) (Owner Occupier)
3.89% p.a.
Comparison Rate
3.90% p.a.
80% 80%
<$500k (LVR > 90%) (Investor)
4.35% p.a.
Comparison Rate
4.36% p.a.
95% 90%
<$500k (LVR > 90%) (Owner Occupier)
4.25% p.a.
Comparison Rate
4.25% p.a.
95% 90%
<$500k (LVR 80.01% to 90%) (Investor)
4.19% p.a.
Comparison Rate
4.20% p.a.
90% 80.01%
<$500k (LVR 80.01% to 90%) (Owner Occupier)
3.99% p.a.
Comparison Rate
4.00% p.a.
90% 80.01%
$500k<$1m (LVR <= 80%) (Investor)
4.09% p.a.
Comparison Rate
4.10% p.a.
80% 80%
$500k<$1m (LVR > 90%) (Investor)
4.35% p.a.
Comparison Rate
4.36% p.a.
95% 90%
$500k<$1m (LVR 80.01% to 90%) (Investor)
4.19% p.a.
Comparison Rate
4.20% p.a.
90% 80.01%
$500k+ (LVR <= 80%) (Owner Occupier)
3.89% p.a.
Comparison Rate
3.90% p.a.
80% 80%
$500k+ (LVR > 90%) (Owner Occupier)
4.2% p.a.
Comparison Rate
4.21% p.a.
95% 90%
$500k+ (LVR 80.01% to 90%) (Owner Occupier)
3.99% p.a.
Comparison Rate
4.00% p.a.
90% 80.01%
Product NameAussie Select Basic Variable
Interest Rate TypeVariable
Comp Rate^ (p.a.)
Minimum Loan Amount$100,000
Maximum Loan Amount$500,000
Minimum Loan Term1 year
Maximum Loan Term30 years
Maximum LVR80%
Maximum Insured LVR95%
Mortgage 100% OffsetNo
Loan Redraw FacilityYes
Split Loan FacilityYes
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

  • 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)

Cons

  • There is a settlement fee of $0
  • A $400 discharge fee applies when you close your home loan account
  • Minimum loan size is $100000

Note: The rates above are reflective of Loans with 70.01% – 80% LVR with loan amount between $350k-$500k

Extra loan details:

  • Repayment type - Interest-only and principal and interest
  • Overpayments - Yes, unlimited
  • Management fees - No

Loan features and benefits:

  • Very competitive interest rates, with special discounts available depending on how much you borrow.
  • High loan to value ratio of up to 70.01% – 80%.
  • Unlimited overpayments with no charges help you repay the debt faster.
  • Flexible repayments so you can choose how often you make payments.
  • No ongoing account management or admin fees.
  • Redraw facility so you can borrow from any equity you have.

Discounted rates for bigger deposits.

One of the easiest ways to save money on a home loan is to reduce your interest rates.

With the Aussie Select Basic Variable Rate Home Loan those who borrow less money will benefit
from additional discounts. In other words, if you have a big deposit set aside Aussie will
reward you with preferential interest rates.

Although this is a variable rate product, you have the facility to split the loan and fix part of the interest rate. This is a great feature for those who'd like the security and protection from potential interest rate and repayment rises.

Save money with no management fees

Another attractive feature about this home loan is that Aussie don't charge you any ongoing management or account administration fees. You will have to pay the standard application fee and valuation fee, but after that all you'll be repaying is what you've borrowed.

You can take this home loan for a term of up to 30 years if you wish, but you should aim to repay the loan as early as possible. That way you'll save money in interest and pay far less overall.

With the facility to make unlimited overpayments without charge there's no excuse for not repaying a little extra when finances allow.

saving on no management fees

Pros

  • Discounted interest rates.
  • Flexible repayments.
  • The loan is portable.
  • No management fees.
  • High LVR available.
  • Application fee of $0.

Who would this product suit?

This home loan can be suitable for most budgets. Savvy consumers with a good deposit ready will benefit from lower rates, so this is could be ideal for those who've planned ahead. You can borrow up to $500,000 with this product, but those looking for a bigger loan will need an excellent credit rating and a higher than average salary.

The Aussie Select Basic Variable Rate Home Loan offers flexibility, affordability and accessibility, making it a "must-see" for anyone looking to get onto (or move up) the property ladder.


How to apply?

If you would like to make an enquiry or would like to contact Aussie directly for an application click below and you will be securely directed to their website.


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Aussie Select Basic Variable Rate Home Loan Interest Rate History vs RBA Cash Rate Graph


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This page was last modified on 19 May 2016 at 10:39.

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Aussie Select Basic Variable

  • Interest Rate

    N/A

  • Comparison Rate

    N/A

  • App Fee / Annual Service Fee

    $0 / $0

  • Max LVR

    80%

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