Aussie Select Line of Credit Home Loan review

Access the equity in your home with a line of credit home loan.

The Aussie Select Line of Credit Home Loan is a line of credit loan that offers rate discounts depending on your borrowing amount. The loan lets you access the equity in your home for any purpose. It also offers the flexibility of unlimited additional repayments and a free internet redraw.

Interest Rate Max Insured LVR Max LVR
(LVR <= 70%) (Investor)
4.79% p.a.
Comparison Rate
80% 80%
(LVR <= 70%) (Owner Occupier)
4.29% p.a.
Comparison Rate
70% 70%
(LVR 70.01% to 80%) (Investor)
4.79% p.a.
Comparison Rate
80% 70.01%
(LVR 70.01% to 80%) (Owner Occupier)
4.29% p.a.
Comparison Rate
80% 70.01%
(LVR 80.01% to 90%) (Investor)
4.89% p.a.
Comparison Rate
90% 80%
(LVR 80.01% to 90%) (Owner Occupier)
4.39% p.a.
Comparison Rate
90% 80%
Product NameAussie Select Line of Credit
Interest Rate TypeVariable
Comp Rate^ (p.a.)
Minimum Loan Amount$100,000
Maximum Loan Amount$5,000,000
Minimum Loan Term25 years
Maximum Loan Term30 years
Maximum LVR80%
Maximum Insured LVR90%
Mortgage Offset AccountNo
Mortgage 100% OffsetNo
Loan Redraw FacilityYes
Split Loan FacilityYes
Suitable for InvestmentYes
Available as equity loan/line of creditNo
Repayment TypeInterest Only
Application Fee$0
Ongoing Fees$15 monthly ($180 p.a.)
Settlement Fee$0
Discharge Fee$535

Pros

  • Flexible repayment
  • Free internet redraw

Cons

  • A $15 monthly service fee applies
  • A $535 discharge fee applies

What do I need to know about this loan?

The Aussie Select Line of Credit Home Loan lets you access the equity of your residential property, and allows you to borrow up to 90% of the value of your equity. It carries no application or settlement fees, and has a low monthly fee.

What are the features and benefits of the Aussie Select Line of Credit Home Loan?

  • Loan amount and loan-to-value ratio (LVR). This loan has a minimum loan amount of $100,000 and a maximum loan amount of $5 million. You can borrow up to 90% of the value of your equity, but borrowing above 80% will incur a lenders mortgage insurance (LMI) premium.
  • Repayment type and frequency. Repayments on the Aussie Select Line of Credit Home Loan are interest-only, and are made monthly. The loan allows unlimited additional repayments without penalty.
  • Rate discounts. The Aussie Select Line of Credit Home Loan offers discounted variable rates based on the amount you borrow and your LVR.
  • Free redraw. The Aussie Select Line of Credit Home Loan allows free internet redraws so you can access any additional payments you’ve made. There is a $50 charge for phone redraws.
  • Low fees. The Aussie Select Line of Credit Home Loan carries no application or settlement fee, and has a low ongoing monthly fee.

What fees and charges come with this loan?

  • Monthly fee: $15. The Aussie Select Line of Credit Home Loan has a ongoing monthly fee.
  • Discharge fee: $535. This fee is charged when you discharge your loan by either paying it off or refinancing to another lender.

How do I apply for the Aussie Select Line of Credit Home Loan?

If you think the Aussie Select Line of Credit Home Loan suits your needs, click the button below. You’ll be taken to a brief form and asked to fill out a few details, and an Aussie Home Loans specialist will contact you within 1 business day to walk you through the application process.

The Aussie Select Line of Credit Home Loan offers flexible repayments and lets you unlock the equity in your home when you need it.


Enquire about this home loan
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Aussie Select Line of Credit

  • Interest Rate

    N/A

  • Comparison Rate

    N/A

  • App Fee / Annual Service Fee

    $0 / $15

  • Max LVR

    80%

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