This is a flexible standard variable home loan designed to meet your needs, and it has a competitive interest rate with no monthly account-keeping fees.
The CUA Standard variable home loan comes with a competitive standard variable rate of and a host of features such as a redraw facility, interest only repayments and the option to make lump sum repayments without any penalties. With no monthly bookkeeping fees and a 100% offset facility available, this loan could be affordable for your situation and it offers you flexible repayment options to help you pay it off at your own convenience.
- The CUA Standard variable home loan was awarded a Bronze Medal in the Building Society 'Mortgage of the Year Awards 2012'.
|Product Name||CUA Standard Variable Home Loan|
|Interest Rate Type||Variable|
|Comp Rate^ (p.a.)|
|Maximum Loan Term||30 years|
|Maximum Insured LVR||95%|
|Mortgage Offset Account||Yes|
|Mortgage 100% Offset||Yes|
|Loan Redraw Facility||Yes|
|Split Loan Facility||Yes|
|Fixed Interest Option||No|
|Suitable for Investment||Yes|
|Available as equity loan/line of credit||No|
|Repayment Type||Principal & Interest and Interest Only Options|
|Ongoing Fees||$0 p.a.|
- $0 ongoing fee.
- 100% offset account .
- Extra repayments are available.
- $600 Application fee.
- $200 discharge fee.
Things to consider about the CUA Standard variable home loan
With a comparison rate of and a host of features, the CUA Standard variable home loan could be a great option to consider when looking to finance the purchase of a new home. If approved, you can get further advances on your home loan even access funds for construction or investment.
There is an option to make additional repayments if you come into some extra cash flow, helping you repay your loan sooner and save on interest fees. The actual amount you can borrow on a CUA Standard variable home loan is determined by your income, current debts/liabilities and the dependents you have.
Features of the CUA Standard variable home loan
- Redraw facility. The loan has a free redraw facility on advanced payments, allowing you access any lump sum or additional repayments you have put down on your loan. If you need some financial breathing space or just need funds for a holiday, home renovation or other purposes, you can easily access your extra repayments at any time without any penalties.
- 100% Offset account. You can link your CUA bank account to your home loan to offset your loan account’s balance and reduce your interest charges. Interest will only be charged on the home loan minus the amount you have in your offset account.
- Interest-only repayments. Keep your repayments to a minimum with this feature that lets you pay interest only on the loan for a limited period. This could be an advantage as the equity on your investment could increase over time. You could also use the rent from your investment property to cover your loan repayment costs in the long term.
- Further advances. You can take on further borrowing from CUA if your home has increased in value since purchasing it. This is could be an alternative to remortgaging, and you can even end up getting a better rate than you have on your main mortgage.
There are no ongoing account keeping fees with this loan, below are the fees you will pay:
- Loan establishment fee. There is a $600 one-off establishment fee on a new CUA Standard variable home loan. This fee is charged at the commencement of your loan and goes toward covering documentation costs. The fee is charged once your home loan money is deposited into your nominated loan account.
How to apply for the CUA Standard variable home loan
Please note that you will have to fulfil the following requirements before starting your loan application :
- Be over the age of 18.
- Be a permanent Australian citizen.
- Be employed or have a regular income.
Please also provide the following documents so that your loan application is finalised:
- Your name, address, contact details and current email address.
- Your identification details i.e. your driver’s licence, Passport, Medicare card and Birth Certificate.
- Occupation, sources of income, your time in current job, copies of your last two pay slips and Group Certificate.
- Provide details of your existing home loans, car loans, personal loans or line of credit loans and credit cards.
- Details of your current assets such as property, vehicles, cash deposits, shares and superannuation.
If you are looking for a flexible home loan with a competitive comparison and interest rate and no early payout fees, check out the CUA Standard variable home loan and compare it to our other featured home loans to find a product that suits your needs.
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CUA Standard Variable Home Loan Interest Rate History vs RBA Cash Rate Graph
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