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Review by

Richard Whitten is a money editor at Finder, and has been covering home loans, property and personal finance for 6+ years. He has written for Yahoo Finance, Money Magazine and Homely; and has appeared on various radio shows nationwide. He holds a Certificate IV in mortgage broking and finance (RG 206) and a Tier 1 Generic Knowledge certification (RG 146).

Expert review

As mentioned above, there are a range of criteria you should be aware of before applying for this loan.

About this loan

What are the features and benefits of the Bank of Sydney Expect More Home Loan Package?

  • 100% offset account. This loan comes with a 100% offset account. This is a linked transaction account which you can deposit funds into. Any funds in the account work to reduce the interest payable on your home loan.
  • Low fees. This loan waives the annual fee for the life of the loan, and covers legal fees up to $400, and valuation fees up to $330. There is no application fee and no fees for using the redraw facility.
  • Maximum LVR. The maximum amount you can borrow with the loan is 90% of the value of the property you wish to purchase.
  • Extra repayments. You can make extra repayments on this loan to make faster progress paying it off. If you have a fixed rate, this is limited to $10,000 per year without penalties applying.
  • Redraw facility. If you want to withdraw the extra repayments you've put into this loan, you can use the free redraw facility to do so. The minimum redraw amount is $2,000.
  • Split rates. You can split this loan into fixed portions. Bank of Sydney offers fixed terms of one, two, three and five years.

What fees and charges come with this loan?

This loan has no application fees or redraw fees. Legal fees of up to $400 and valuation fees of up to $330 are waived too. The annual fee is also waived for the life of the loan. If your valuation or legal fees exceed these limits you'll have to pay extra charges.

  • Discharge fee of $300. You'll have to pay this when exiting the loan.
  • Switching fee of $350. If you decide to switch to another Bank of Sydney loan you'll have to pay this.
  • Late payment fee of $20. Making a late repayment will come with this fee.

How to apply

If you're interested in this loan and want to find out more or apply, click the green "go to site" buttons on this page. This will securely take you to the Bank of Sydney website.

From here you can request a call back from Bank of Sydney to start a discussion about this loan and find out the next steps.

You'll want to get a few details together before contacting Bank of Sydney, such as information about your property, employment and more.
If you proceed with your application, make sure you have supporting evidence of your income and employment.

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