The Smart Booster Variable Investor Bundle allows investors who also have an owner-occupier mortgage to get a very low rate for both loans. Here's how it works.
Borrowers who bundle their investment and owner-occupier mortgages with loans.com.au can get a very low investment rate with the Smart Booster Variable Investor Bundle. This is one of the lowest investment rates on the market. Unlike similar investor/owner-occupier combination products, you can also get an equally low rate on your owner-occupier loan too.
As a discount variable rate, this low rate will revert to a higher rate after the one-year discount period.
You'll need to take out an owner-occupier loan with loans.com.au to qualify for this product. You will also need a 20% deposit.
| Product Name | loans.com.au Smart Booster Discount Variable Home Loan |
|---|---|
| Interest Rate Type | Variable |
| Comp Rate^ (p.a.) | |
| Minimum Loan Amount | $50,000 |
| Maximum Loan Amount | $1,000,000 |
| Minimum Loan Term | 15 years |
| Maximum Loan Term | 30 years |
| Maximum LVR | 80% |
| Maximum Insured LVR | 80% |
| Mortgage Offset Account | No |
| Mortgage 100% Offset | No |
| Loan Redraw Facility | Yes |
| Split Loan Facility | Yes |
| Fixed Interest Option | Yes |
| Loan Portable | Yes |
| Suitable for Investment | Yes |
| Extra Repayment | Yes |
| Repayment Type | Principal & Interest and Interest Only Options |
| Application Fee | $0 |
|---|---|
| Lender's Legal Fee | $0 |
| Valuation Fee | $220 or at cost |
| Ongoing Fees | $0 p.a. |
| Settlement Fee | $300 |
| Discharge Fee | $0 |
Pros
- Competitive rates
- Flexible repayments
- Low fees
Cons
- Requires a 20% deposit
- You need to have an owner occupier loan with loans.com.au to qualify
- There is a $300 settlement fee
What do I need to know about this loan?
The loans.com.au Smart Booster Variable Investor Bundle is for investors who already have a loans.com.au owner-occupier loan. This investor loan has discount variable rates for both principal-and-interest and interest-only repayments.
What are the features and benefits of the loans.com.au Smart Booster Variable Investor Bundle?
- Loan amount. This loan has a minimum loan amount of $50,000 and a maximum loan amount of $1,000,000.
- Loan to value ratio (minimum deposit). The maximum insured loan to value ratio on this loan is 80%. You will therefore need a 20% deposit to get this loan.
- Owner-occupier loan. You can get this investment loan if you have one of loans.com.au's owner-occupier loans. It doesn't matter which product as long as it's an owner-occupier loan. Compare a wider range of loans.com.au mortgages to see some owner-occupier loans. If you have an existing loan that isn't with loans.com.au you could refinance to this lender and then apply for the Smart Booster Variable Investor Bundle.
- Extra repayments. This loan allows you to make extra repayments and has a redraw facility so you can take out some of those extra repayments if needed.
- More options. This loan is portable and has a loan-split option, allowing you to divide the loan into multiple fixed and variable portions.
What fees and charges come with this loan?
The loans.com.au Smart Booster Variable Investor Bundle only has two one-off fees, which is fewer than most home loans.
- Settlement fee: $300. This one-off fee covers the cost of loan settlement.
- Valuation fee: $220 or at cost. This fee covers the lender's cost to get your investment property valued.
How do I apply for this loan?
If you are interested in the Smart Booster Variable Investor Bundle from loans.com.au or just want to learn more, click the green button and leave your details. A lending specialist from loans.com.au will get in touch and give you the help you need.
