Take advantage of a low rate, minimal fees and flexible features with the Australian Unity Kick Starter Home Loan.
If you’re looking for a competitive home loan with useful features, the Australian Unity Kick Starter Home Loan is worth considering. Offering a low variable rate and the ability to make unlimited additional repayments, the loan makes it simple to pay off your loan quickly.
No annual or monthly account-keeping fees apply and the loan offers the flexibility of fee-free redraws. A linked transaction account with no transaction fees and a free Visa debit card are also included.
| Product Name | Australian Unity Kick Starter Home Loan |
|---|---|
| Interest Rate Type | Variable |
| Interest Rate (p.a.) | 3.79% |
| Comp Rate^ (p.a.) | 3.82% |
| Minimum Loan Amount | $200,000 |
| Maximum Loan Amount | $1,000,000 |
| Maximum Loan Term | 30 years |
| Maximum LVR | 80% |
| Maximum Insured LVR | 80% |
| Loan Redraw Facility | Yes |
| Split Loan Facility | No |
| Repayment Type | Principal & Interest |
Pros
- $0 ongoing or redraw fees and pay no fees when making extra repayments.
- 10% off Australian Unity Health Insurance.
- $100 credit with Allianz when purchasing home and contents insurance through Australian Unity.
Cons
- Application fee of $600.
- Minimum redraw of $500.
- Online only lender, no physical branches you can visit.
Things to consider about the Australian Unity Kick Starter Home Loan
Available for the purchase of residential owner-occupied properties only, the Australian Unity Kick Starter Home Loan comes with a maximum loan-to-value (LVR) ratio of 80% which means that you will not have to budget for the extra expense of lender’s mortgage insurance (LMI).
The Australian Unity Kick Starter Home Loan requires principal and interest repayments and it enables you to make unlimited additional repayments whenever your budget allows. A free redraw facility is also included alongside a linked transaction account and insurance discounts.
Features of the Australian Unity Kick Starter Home Loan
- Loan amount. The Australian Unity Kick Starter Home Loan is available for amounts between $200,000 and $1,000,000.
- Maximum LVR. The maximum amount you can borrow with the loan is 80% of the value of the property you wish to purchase. This means that you can avoid paying the added cost of LMI.
- Repayments. This loan is available with principal and interest repayments; there is no interest-only option.
- Additional repayment flexibility. If there’s room in your budget to make additional loan repayments ahead of schedule, you can do so whenever you wish and you will not be charged any fees. This allows you to pay off your debt as quickly as possible.
- Free redraws. You can access additional funds you need through the loan’s free redraw facility. The minimum redraw amount is $500.
- Linked transaction account. The Australian Unity Kick Starter Home Loan also includes a linked transaction account with no transaction fees, plus a free Visa debit card for added convenience.
- Insurance discounts. Australian Unity Kick Starter Home Loan borrowers can also access a 10% discount on Australian Unity Health Insurance, plus $100 of Allianz insurance credit when their home and contents insurance policy is purchased through Australian Unity.
Fees
There are $0 ongoing account keeping fees for this loan as well as $0 fees when you redraw extra repayments. You also get a transaction account attached at no extra cost but below are some of the fees you may pay:
- Establishment fee: $600. This fee covers the administrative costs associated with establishing your loan.
- Discharge fee: $375. This is payable when you close your home loan accounts and your property is released from Australian Unity, there may also be government fees due for this process as well.
How to apply for the Australian Unity Kick Starter Home Loan
If the Australian Unity Kick Starter Home Loan sounds right for you, click the ‘Go to site’ link on this page. You will be securely redirected to the Australian Unity website where you can find out more information about this mortgage product and begin the application process.
You can fill out an online enquiry form if you’d like to be contacted by Australian Unity to discuss your borrowing needs. You will need to provide:
- Your name
- Your email address and phone number
- Your preferred contact time
- Any questions you have about the loan
Additionally, you’ll need to supply a wide range of information during the loan application process, including:
- Proof of income and details regarding your employment
- Information about any assets you own, for example shares or real estate
- Information about any liabilities you have, for example credit card debt
- Details of the property you want to purchase
If you’re in the market for a basic home loan with a competitive rate and a selection of useful features, consider the Australian Unity Kick Starter Home Loan. By comparing this loan with a range of mortgages from other Australian lenders, you’ll be able to find the right loan for your borrowing needs.
