ClickLoans Online Variable Home Loan Review

Rates and fees last updated on

Enjoy a competitive variable rate and the convenience of managing your mortgage online with the ClickLoans Online Variable Home Loan.

Finding the time to visit a lender to complete a home loan application process can be a challenge, but the ClickLoans Online Variable Home Loan can be managed online, which allows you to save time during the application process and enjoy convenient access to your mortgage.

Featuring a competitive variable interest rate, the ClickLoans Online Variable Home Loan also offers no application fee, redraw facilities and limited fees.

Interest Rate Max Insured LVR Max LVR
Owner Occupier ≤ 80% LVR, P&I
3.69% p.a.
Comparison Rate
3.69% p.a.
80% 80%
Product NameClickLoans The Online Home Loan
Interest Rate TypeVariable
Comp Rate^ (p.a.)
Minimum Loan Amount$100,000
Maximum Loan Amount$2,000,000
Maximum Loan Term30 years
Mortgage Offset AccountYes
Mortgage 100% OffsetYes
Loan Redraw FacilityYes
Split Loan FacilityYes
Fixed Interest OptionNo
Loan PortableYes
Suitable for InvestmentYes
Extra RepaymentYes
Repayment TypePrincipal & Interest
Application Fee$0
Lender's Legal Fee$363
Valuation Fee$0
Ongoing Fees$0 p.a.
Settlement Fee$0
Discharge Fee$250
Early Termination Fee$250

Pros

  • 100% offset account ($198 fee applies)
  • Flexible repayment options

Cons

  • No physical branches
  • $250 discharge fee when closing your loan accounts.
  • Legal fee of $363.

Details to consider about ClickLoans Online Variable Home Loan

The ClickLoans Online Variable Home Loan is offered to owner-occupiers looking to purchase a home or refinance an existing loan. Available for loans of up to $2,000,000, the Online Variable Home Loan is managed entirely online. The online application process takes about 30 minutes to complete, while your proof of ID and other loan application documents can all be taken care of without having to visit a branch.

ClickLoans offers a 100% mortgage offset account with this full doc loan so that you can minimise the amount of interest you pay on the money you borrow. Extra payments are allowed to help you pay off your loan as quickly as your budget allows.

Features of the ClickLoans Online Variable Home Loan

  • Loan amount. The ClickLoans Online Variable Home Loan is available for amounts ranging from $100,000 up to $2,000,000.
  • Maximum LVR. With a maximum LVR of 80%, this loan requires you to have a minimum 20% deposit.
  • Offset account. ClickLoans offers a 100% offset account with this mortgage so you can keep your interest repayments to a minimum. An annual $198 fee applies if you select this feature.
  • Repayment options. Repayments towards a ClickLoans Online Variable Home Loan can be made on a weekly, fortnightly or monthly basis, whichever suits your budget. Additional repayments are also allowed at any time.
  • Free redraw facility. You can access your extra repayments at any time through the loan’s free redraw facility. The minimum redraw amount is $50.
  • 100% online. Every aspect of this loan is completely managed online, with no need to visit a branch or set up a face-to-face meeting with a mobile lender. The online application process takes around 30 minutes and your identification can also be verified digitally.
  • Loan split option. You can split your ClickLoans Online Variable Home Loan for extra convenience and flexibility.

Fees

There are no application or settlement fees with this loan, but you will be required to pay $198 a year if you want an offset account. Please see the fees below that you will be asked to pay with this loan:

  • Late payment fee: $20. You will only be charged this fee if you miss a loan repayment.
  • Legal fee: $363. This fee covers all the legal costs the lender incurs when assessing your application and setting up your home loan.
  • Exit fee (discharge fee): $250. This fee covers the administrative costs associated with discharging your loan.
  • Early termination fee: $250. You’ll need to pay this fee if you pay off your loan ahead of schedule.
  • Offset account fees: $198 ClickLoans charges a $198 fee for using an offset account.

How to apply for the ClickLoans Online Variable Home Loan

If you’d like to find out more details about the ClickLoans Online Variable Home Loan, click the ‘go to site’ link on this page to be redirected to the ClickLoans website. You can then research the loan in further detail and if it sounds right for you, begin the online application process.  You’ll need to:

  • Specify you want a loan to purchase a home or refinance an existing loan
  • Provide your expected loan amount
  • Provide the expected purchase price of the property
  • Select your preferred repayment method: principal and interest or interest only
  • Provide details about your credit history
  • Provide details about your current employment status
  • Supply proof of ID
  • Demonstrate proof of income and savings
  • Provide information regarding any assets you own (for example shares and real estate) and any liabilities or ongoing expenses

The online application process takes around 30 minutes, but you can phone ClickLoans or request a call back if you would prefer to speak to a lending expert.


The ClickLoans Online Variable Home Loan offers a range of flexible features and borrowing options if you want the convenience of an online loan. Compare it with other mortgage products to decide whether or not it’s the perfect loan for your needs.

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This page was last modified on 7 August 2017 at 1:38pm.

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