ClickLoans Online Home Loan (low doc) Review

Rates and fees last updated on

With a competitive variable rate and no application or ongoing fees, the ClickLoans Online Home Loan (low doc) is worth considering if you’re in the market for a home loan

The ClickLoans Online Home Loan (low doc) offers a competitive variable rate for self-employed borrowers plus a redraw facility, offset account and no ongoing fees which can help you to repay your home loan sooner.

It also offers rate discounts if you keep your LVR below 75%.

Things to consider about the ClickLoans Online Home Loan (low doc)

The ClickLoans Online Home Loan (low doc) is available for the purchase of residential property and is therefore suited for owner-occupiers. This loan allows you to borrow up to a maximum loan-to-value (LVR) ratio of 80%.

With your choice of making fortnightly or monthly repayments, the ClickLoans Online Home Loan (low doc) comes with useful features including a free redraw facility, the ability to make extra repayments and a linked offset account which can help you reduce the amount of interest you pay over the life of the loan.

This product is not available for investment purposes.

Features of the ClickLoans Online Home Loan (low doc)

  • Maximum loan amount. The maximum amount you can borrow with the ClickLoans Online Home Loan (low doc) is $1,500,000, while the minimum loan amount is $100,000.
  • Maximum LVR. The maximum LVR on this loan is 80%. Note that borrowing less than 75% comes with a further rate discount which you can see above.
  • Redraw facility. You can access extra repayments you make towards your loan through a free redraw facility.
  • Repayment flexibility. Choose from a fortnightly or monthly repayment schedule to suit your income stream.
  • Extra repayments. You can make additional principal and interest repayments at any time without incurring a penalty which can help you to repay your loan sooner.
  • Offset account. This loan comes with a linked offset account which can help you reduce the amount of interest payable over the life of the loan.

Fees

There are no ongoing or application fees with this loan. There is one fee you should be aware of:

  • Discharge fee: $250. This fee covers the cost of preparing your loan discharge documents.

How to apply for the ClickLoans Online Home Loan (low doc)

If you think the ClickLoans Online Home Loan (low doc) is right for you, click on the ‘enquire now’ button to be redirected to the ClickLoans webste where you can enquire about this home loan.

In order to apply for the ClickLoans Online Home Loan (low doc) you will need to be an Australian citizen permanent Australian resident for tax purposes.

You’ll also need to provide:

  • Your name, address, date of birth and contact details
  • Your employment information and proof of income
  • Details of any assets you own
  • Details of any liabilities you have

The ClickLoans Online Home Loan offers competitive interest rate with a range of flexible features including the ability to make additional repayments without penalty and an offset account but just make sure you compare several home loans on the market before deciding whether it’s the right product for you.

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This page was last modified on 29 June 2017 at 3:03pm.

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