Macquarie Bank Offset Flyer Home Loan Package

Rates and Fees verified correct on December 9th, 2016

Earn Qantas Points with your home loan so you can travel and see the world

Free Qantas membership

Qantas membership is usually $89.50 but Macquarie Bank will also waive this as part of the loan.

Macquarie Bank is at the forefront of innovation, especially when it comes to home loans. Taking out any of their Flyer home loans means you'll earn Qantas Points as you pay off your loan, and the Offset Flyer Home Loan Package has a range of features which make the loan competitive in addition to this.

Interest Rate Max Insured LVR Max LVR
Investor
4.19% p.a.
Comparison Rate
4.58% p.a.
95% 80%
Owner Occupier
3.94% p.a.
Comparison Rate
4.33% p.a.
95% 80%
Product NameMacquarie Bank Offset Flyer Home Loan
Interest Rate TypeVariable
Comp Rate^ (p.a.)
Minimum Loan Amount$150,000
Maximum Loan Amount$5,000,000
Maximum LVR80%
Maximum Insured LVR95%
Mortgage Offset AccountYes
Mortgage 100% OffsetYes
Loan Redraw FacilityYes
Split Loan FacilityYes
Suitable for InvestmentYes
Extra RepaymentYes
Available as equity loan/line of creditNo
Repayment TypePrincipal & Interest and Interest Only Options
Application Fee$0
Lender's Legal Fee$363
Valuation Fee$0
Ongoing Fees$398 p.a.
Settlement Fee$0
Discharge Fee$400

Pros

  • Earn Qantas Points with this loan
  • 100% offset account available

Cons

  • Annual service fee of $398
  • Legal fees of $363

Things to consider about this loan

The Macquarie Bank Offset Flyer Home Loan is available for those purchasing, refinancing and building a property. It's not available with a family guarantee but is a flexible loan which can be used to buy a home or an investment property.

How do you earn Qantas Points with this loan?

You can earn 160,000 Qantas Points on a loan of $500,000 over five years. Here's how it works.

  • You get 10,000 Qantas Points for every $100,000 you drawdown at settlement (this means 50,000 points for a loan of $500,000)
  • 1,000 Qantas Points each month that your loan balance is greater than $150,000
  • 25,000 Qantas Points on both the third year anniversary and the fifth year anniversary of the settlement of your loan, provided your loan is still above $150,000.

This could net you one return flight to Los Angeles and a return flight to Bangkok.

The Qantas Frequent Flyer Program has a huge range of rewards for those who don't want flights, such as merchandise, car rental and more.

Features of the Flyer Offset Home Loan

  • Offset account - As the name suggests, this loan has a 100% offset account attached to it. Offset accounts can net you a large amount of savings in interest and shorten your loan term.
  • Maximum LVR - The maximum LVR of this loan is 95%. If you borrow more than 80% LVR you'll need to pay Lender's Mortgage Insurance (LMI).
  • Split your loan into multiple sub-accounts - You can split this home loan into different sub-accounts and use a mixture of variable rates, fixed rates, principal and interest repayments and interest-only repayments.
  • Interest-only option - You can pay interest only on your repayments for up to five years. This decreases the amount you pay because you're not putting any of your repayment towards the principal.
  • Additional repayments - You can make unlimited additional repayments on this loan to pay it off earlier. If you opt to split your loan the fixed rate portions is capped at 5% of the loan amount per year for additional repayments.
  • Discounts - The Offset Flyer Home Loan will see you pay no annual fee if you decide to take out a Macquarie Visa Platinum Card.

Fees and Charges:

Fees you can avoid

  • Application fee - You won’t have to pay an application fee as part of this loan saving you a few hundred dollars.
  • LMI - As mentioned above, LMI is charged if you borrow over 80% of the property value and the amount you’ll pay will depend on a range of factors.

Fees you can't avoid

  • Account management fee: $398 - This loan has a management fee which is charged each year (Annual fee is payable in two instalments of $199 every six months). This fee can cover up to five loans.

How to apply for this home loan

To apply or get more information about this home loan contact a mortgage broker or visit the Macquarie Bank website.


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Macquarie Bank Offset Flyer Home Loan Package Interest Rate History vs RBA Cash Rate Graph


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This page was last modified on 21 September 2016 at 14:15.

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Macquarie Bank Offset Flyer Home Loan

  • Interest Rate

    N/A

  • Comparison Rate

    N/A

  • App Fee / Annual Service Fee

    $0 / $398

  • Max LVR

    80%

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