loans.com.au 3 Years Fixed Special Home Loan Review

Rates and Fees verified correct on December 6th, 2016

The loans.com.au 3 Years Fixed Special Home Loan, is a no-frills loan with the security of a fixed rate.

If you’re looking for a simple home loan that offers the confidence and consistency of a competitive fixed rate, the loans.com.au 3 Year Fixed Special Home Loan is an option worth considering. Available for owner-occupied purchases and with no ongoing fees, the loan allows you to lock in the rate on your home loan.

Things to consider about the loans.com.au 3 Year Fixed Special Home Loan

The loans.com.au 3 Years Fixed Special Home Loan is a no-frills mortgage available to owner-occupiers only. With a maximum loan to valuation ratio (LVR) of , it allows borrowers to lock in a competitive interest rate for three years and is a full doc loan. Repayments can be made on a principal and interest basis, while borrowers can choose from a weekly, fortnightly or monthly repayment schedule.

Features of the loans.com.au 3 Years Fixed Special Home Loan

  • Loan amount. The minimum available loan amount is and a maximum limit of .
  • Maximum LVR. The loans.com.au 3 Years Fixed Special Home Loan allows you to borrow up to  of the purchase price of the property.
  • Repayments. This loan lets you make either principal and interest repayments and you can also choose a repayment schedule to suit your budget: weekly, fortnightly or monthly.
  • Loan term. This loan is available for terms of between  and .
  • No ongoing fees. There are no monthly or annual account-keeping fees to pay with this loan.
  • Loan split. You are allowed to divide your mortgage into a maximum of five separate accounts (the interest rate of the extra splits may be different than the rate quoted here).

Fees

  • Rate lock fee: . This fee is charged to lock in the fixed interest rate that applies at the time of applying and is optional with this special.
  • Valuation fee: . This fee covers the cost the lender incurs to have the property professionally valued there may be additional valuation fees depending on your situation.
  • Settlement fee: . This fee is payable upon settlement of your mortgage.
  • Discharge fee: . This discharge fee is payable when you have finished paying off your loan.
  • Discharge documentation fee: $250. This fee covers the administrative costs associated with preparing your loan discharge documents.

How to apply for the loans.com.au 3 Years Fixed Special Home Loan

If you’d like to read more about the details and benefits of the loans.com.au 3 Years Fixed Special Home Loan, click the “Go to site” link on this page to be redirected to the loans.com.au website. You can then contact the lender to discuss your borrowing needs, or alternatively begin the fast and easy online application.

It takes about three minutes to fill in a loans.com.au online application form. Once your form has been received, you’ll be invited to arrange an appointment with a lending manager to finalise your application.

If you decide to apply for this combo loan, you’ll need to provide the following information:

  • Your personal details. You’ll need to supply your name, contact details and a valid form of photo ID.
  • Details of your income. Recent payslips can be used to provide evidence of your income and your employment status.
  • Details of your assets. You can provide details of any assets you own, for example, shares or other property, to boost your borrowing power.
  • Details of your expenses. The lender will need to know of any liabilities you have, for example, credit card debt or an outstanding car loan.
  • Property details. Loans.com.au will need to know the address of the property you want to purchase and its sale price.

The below diagram is courtesy of loans.com.au and represents the loan application process after you contact them.

loans.com.au application process

The loans.com.au 3 Years Fixed Special Home Loan is well worth a look if you want a basic home loan with the security of a fixed interest rate. Compare it with other loans in the market to find the best loan for your needs.

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This page was last modified on 29 June 2016 at 13:53.

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