Homebuyer Special (Offset PI) review

The Homebuyer Special (Offset PI) offers a low rate and no ongoing or application fees as well as a 100% offset account.

If you're looking for a feature-packed home loan that still delivers a low rate and low fees, the Homebuyer Special (Offset PI) could be the product for you.

This product is no longer available

The Homebuyer Special (Offset PI) was a special discounted product that is currently not available. Find more products here.

What do I need to know about this loan?

The Homebuyer Special (Offset PI) is available to owner-occupiers and offers flexible features such as free redraw, unlimited additional repayments and a linked 100% offset account. It's available for residential purchases, but not for investment or vacant land.

What are the feature and benefits of the Homebuyer Special (Offset PI)?

  • Loan purpose. This loan is available to owner-occupiers for either the purchase or construction of a home.
  • Loan amount and loan-to-value ratio (LVR). The Homebuyer Special (Offset PI) has a minimum loan amount of $50,000 and a maximum loan amount of $1,000,000. You can borrow up to 80% of the value of the property you're buying, but amounts above 80% will incur a lenders mortgage insurance (LMI) premium.
  • Offset and redraw. This loan comes with a linked 100% offset account, allowing you to reduce the amount you pay in interest. It also has a free redraw facility, so you can withdraw any extra funds you've paid on your home loan. There's no minimum redraw amount, and you can make redraws online or via telephone banking.
  • Flexible repayments. The Homebuyer Special (Offset PI) allows you to repay your home loan weekly, fortnightly or monthly to suit your pay schedule. You can make unlimited additional repayments without penalty.
  • No ongoing fees. The Homebuyer Special (Offset PI) has no application or ongoing fees, but it does have a settlement fee of $300.
  • Split facility. The Homebuyer Special (Offset PI) allows up to five splits, so you can take advantage of variable and fixed rates.

What fees and charges come with this loan?

  • Settlement fee. $300. The settlement fee covers the costs associated with setting up your home loan.

How do I apply for this loan?

If the Homebuyer Special (Offset PI) looks like it could suit your situation, click the link below to be taken to the site. There, you'll be walked through the online application process.

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