Liberty Financial Sharp Home Loan Review

Rates and Fees verified correct on December 8th, 2016

With a competitive variable rate and no ongoing fees, the Liberty Sharp Home Loan is an effective borrowing solution for owner-occupiers and investors alike.

Liberty Financial offers flexible home loans to suit the needs of borrowers who might not meet the lending criteria of some of the major lenders. The Liberty Sharp Home Loan is designed to offer a competitive home loan for both owner-occupiers and investors, combining a low variable rate with no ongoing fees.

With a maximum loan-to-value (LVR) ratio of 95%, the Liberty Sharp Home Loan allows you to qualify for a mortgage if you only have a small deposit saved. It also allows unlimited additional repayments and offers a redraw facility if you need access to funds.

Interest Rate Max Insured LVR Max LVR
LVR 70% (Owner Occupier)
3.79% p.a.
Comparison Rate
3.86% p.a.
70% 70%
LVR > 80% (Investor)
5.24% p.a.
Comparison Rate
5.31% p.a.
95% 80%
LVR > 80%(Owner Occupier)
4.99% p.a.
Comparison Rate
5.06% p.a.
95% 80%
LVR >70% and ≤ 80% (Investor)
4.39% p.a.
Comparison Rate
4.46% p.a.
95% 80%
LVR >70% and ≤ 80% (Owner Occupier)
4.14% p.a.
Comparison Rate
4.11% p.a.
80% 80%
LVR ≤ 70% (Investor)
4.04% p.a.
Comparison Rate
4.11% p.a.
95% 80%
Product NameLiberty Financial Sharp Home Loan
Interest Rate TypeVariable
Comp Rate^ (p.a.)
Minimum Loan Amount$100,000
Maximum Loan Amount$500,000
Maximum LVR80%
Maximum Insured LVR95%
Mortgage Offset AccountNo
Loan Redraw FacilityYes
Split Loan FacilityNo
Fixed Interest OptionNo
Loan PortableNo
Suitable for InvestmentYes
Extra RepaymentYes
Available as equity loan/line of creditNo
Repayment TypePrincipal & Interest

Application Fee$995
Lender's Legal Fee$0
Valuation Fee$0
Ongoing Fees$0 p.a.
Settlement Fee$0
Discharge Fee$395

Pros

  • $0 ongoing fees.
  • Fee free extra repayments.
  • Maximum LVR of 95%.
  • Suitable for both owner occupiers and investors.

Cons

  • $50 fee to redraw extra repayments made into the loan.
  • $995 application fee.
  • $395 discharge fee for closing the home loan accounts.

Things to consider about the Liberty Financial Sharp Home Loan

The Liberty Financial Sharp Home Loan can be used to buy your own home or an investment property. With no ongoing fees, the loan offers the best variable rate available from Liberty.

A maximum LVR of 95% gives you greater borrowing power than many other mortgages, but you’ll need to factor the cost of lender’s mortgage insurance (LMI) into your calculations if you’re borrowing more than 80% LVR.

Features of the Liberty Financial Sharp Home Loan

  • Loan amount. The Liberty Financial Sharp Home Loan is available for loan amounts between $100,000 and $500,000.
  • Maximum LVR. This loan allows you to borrow up to 95% of the purchase price of the property. However, if you borrow more than 80% LVR the cost of LMI premiums will be rolled over into your home loan.
  • Repayment schedule. The Liberty Financial Sharp Home Loan allows you to make repayments on a weekly, fortnightly or monthly basis to suit your budget. Repayments are made on a principal and interest basis.
  • Additional repayments. You can make additional repayments to your loan at any time without penalty, which allows you to pay off your debt at a pace that suits you.
  • Redraw facility. If you need access to extra repayments that you’ve made towards your loan, the Liberty Sharp Home Loan comes with a redraw facility. However, a $50 redraw fee applies.
  • Non-genuine savings. When assessing your home loan application, Liberty accepts non-genuine savings, which makes it easier for you to qualify for a loan.
  • Repayment holiday. If you experience financial hardship, Liberty allows you to take a break from mortgage repayments for a set period until you get your finances under control.
  • 90-day pre-approval. Liberty offers pre-approvals for the Liberty Financial Sharp Home Loan that are valid for up to 90 days. This gives you increased bargaining power when house hunting.

Fees

Fees you can avoid

  • Ongoing fee: $0. There are no ongoing account-keeping fees with the Liberty Financial Sharp Home Loan.
  • Valuation fee: $0. The lender will not charge you a fee to cover the cost of having the value of the property appraised.
  • Settlement fee: $0. There is no fee charged for administrative costs surround the settlement of your property purchase.

Fees you can’t avoid

  • Application fee: $995. This fee is charged to cover the administrative cost of establishing your loan.
  • Redraw fee: $50. This fee applies whenever you redraw from the money you have paid towards your loan.
  • Discharge fee: $395. A discharge fee is incurred when you pay out your Liberty Sharp Home Loan.

How to apply for the Liberty Financial Sharp Home Loan

If the Liberty Sharp Home Loan sounds like it’s right for you, click the ‘Go to site’ link on this page. You’ll be redirected to the Liberty website where you can find out more about the features and benefits of the loan and begin the application process.

While you can phone Liberty direct if you wish, you can also fill out your details online to apply for an indicative pre-approval amount.

You’ll need to provide:

  • Contact details. Provide your full name, email address and phone number.
  • Loan information. Provide details about your proposed loan, including the amount you want to borrow, the value of the property you want to purchase, the purpose of the loan and the location of the property.
  • Borrower details. Provide the income and expenses of all borrowers.
  • Dependants. Specify the number of dependants you have.
  • Employment information. Provide details about your employment and your credit history.

The Liberty Financial Sharp Home Loan offers a number of attractive features to suit the needs of investors and also those looking to buy their own home. However, before you decide on any one home loan, make sure to compare it with a range of other mortgages to find the loan that best matches your requirements.

Liberty Financial Sharp Home Loan Review Interest Rate History vs RBA Cash Rate Graph

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This page was last modified on 20 March 2016 at 20:15.

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Liberty Financial Sharp Home Loan

  • Interest Rate

    N/A

  • Comparison Rate

    N/A

  • App Fee / Annual Service Fee

    $995 / $0

  • Max LVR

    80%

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