Australian Unity Variable Home Loan

Rates and Fees verified correct on December 4th, 2016

Pay your loan off sooner with a competitive variable rate and avoid monthly and annual account-keeping fees.

The Australian Unity Variable Home Loan offers a competitive interest rate to all borrowers, including those who borrow less than $500,000 or those who want to borrow up to $2,000,000. This variable rate home loan does not attract any monthly or annual account-keeping fees, which can lead to noticeable savings in the long run, and it also gives you repayment flexibility to help you pay your loan off sooner and save in the form of interest.

Interest Rate Max Insured LVR Max LVR
$200K to $499K
4.73% p.a.
Comparison Rate
4.75% p.a.
80% 80%
$500K+
4.63% p.a.
Comparison Rate
4.65% p.a.
80% 80%
Product NameAustralian Unity Variable Home Loan
Interest Rate TypeVariable
Comp Rate^ (p.a.)
Maximum Loan Term30 years
Maximum LVR80%
Maximum Insured LVR80%
Loan Redraw FacilityYes
Suitable for InvestmentYes
Extra RepaymentYes
Available as equity loan/line of creditNo
Repayment TypePrincipal & Interest and Interest Only Options
Application Fee$600
Ongoing Fees$0 p.a.
Discharge Fee$300

Things to consider about the Australian Unity Variable Home Loan

This loan is suitable for residential and investment purposes, refinancing or debt consolidation. This loan is a full documentation loan, meaning those who are self employed or do not enjoy a steady income will need to compare low doc loans elsewhere.

Features of the Australian Unity Variable Home Loan

  • Loan amount. With this loan you can borrow up to $2,000,000.
  • Maximum LVR. You can borrow up to 80% of the property's LVR.
  • Repayment flexibility. This loan allows you to make principal and interest payments weekly, fortnightly or monthly. You can also make interest-only payments if you meet certain criteria, and this option is ideal for investors as well as individuals who want lower initial repayments. You also have the option to make unlimited extra repayments without attracting any penalties, allowing you to save money in the form of interest. Making extra repayments also enables you to build equity in your home sooner.
  • Redraw facility. A redraw facility gives you round-the-clock access to funds you’ve previously paid towards your mortgage, and you can access these funds 24 hours after lodgement. Unlimited access to these funds comes in the form of ATM and EFTPOS access, while you can also access these funds online and through phone transactions.

Fees

Fees you can avoid

  • Ongoing fees: $0. Some loans will charge monthly maintenance fees. This loan has no monthly fee.
  • Valuation fee: $0. Every lender will require a valuation of your property before approving your loan, and this loan doesn't charge for this.

Fees you can't avoid

  • Mortgage discharge fee: $300. This fee is charged when you pay out your loan.
  • Application fee: $600. Many loans charge an upfront application fee to cover the costs of processing your application, but this loan doesn’t.

How to apply for the Australian Unity Variable Home Loan

If you would like to apply for a home, please speak to a mortgage broker. As part of the application process, you’ll need to meet the following eligibility criteria:

  • You should not have a poor credit history
  • You should be a permanent resident of Australia
  • You should not be younger than 18 years old

To establish your creditworthiness, Australian Unity will assess your employment and financial information. You’ll need to provide:

  • Your employer's name and contact details
  • Your gross annual income
  • Your average monthly expenses
  • A list of all your assets and liabilities

While the Australian Unity Variable Home Loan offers a competitive interest rate and gives you good repayment flexibility, it’s still a good idea to compare your options. Make sure you look through a few offers before deciding on the right loan for you.


Enquire about this home loan

Australian Unity Variable Home Loan Interest Rate History vs RBA Cash Rate Graph


Enquire about this home loan
Was this content helpful to you? No  Yes

Related Posts

This page was last modified on 10 September 2015 at 15:05.

Ask a Question

You are about to post a question on finder.com.au

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Disclaimer: At finder.com.au we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the finder.com.au privacy policy, receive follow up emails related to finder.com.au and to create a user account where further replies to your questions will be sent.

Australian Unity Variable Home Loan

  • Interest Rate

    N/A

  • Comparison Rate

    N/A

  • App Fee / Annual Service Fee

    $600 /

  • Max LVR

    80%

Ask a question
feedback