ME Flexible Fixed Home Loan

Take advantage of flexible borrowing features and no application or account-keeping fees with the ME Flexible Fixed Home Loan

The ME Flexible Fixed Home Loan offers a host of flexible features and options for borrowers. With no application or ongoing account-keeping fees, the loan allows you to put your income towards paying off the amount you borrow rather than contending with extra charges. It also allows you to make up to $30,000 of extra repayments during the fixed rate period, which you can then redraw from those additional funds when you need them.

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Review by

Richard Whitten is a money editor at Finder, and has been covering home loans, property and personal finance for 6+ years. He has written for Yahoo Finance, Money Magazine and Homely; and has appeared on various radio shows nationwide. He holds a Certificate IV in mortgage broking and finance (RG 206) and a Tier 1 Generic Knowledge certification (RG 146).

Expert review

The ME Flexible Fixed Home Loan allows you to fix your interest rate for a period of one, two, three, four, five, six or seven years. Available for owner-occupied and investment purchases as well as construction loans, it features a split loan option if you’d like to take advantage of the benefits of both a fixed and variable rate. If you choose this option, an ME EveryDay Transaction Account can be used to offset the variable component of your loan.

If you would prefer to take out the ME Flexible Home Loan with a variable rate only, this option is also available.

About this loan

What are the features and benefits of the ME Flexible Fixed Home Loan?

  • Minimum loan amount. The ME Flexible Fixed Home Loan is available for amounts starting from $40,000. The maximum amount you can borrow is determined by your income, your ongoing expenses and your ability to make timely repayments.
  • Maximum LVR. The ME Flexible Fixed Home Loan allows you to borrow up to 95% of the value of the property you are purchasing. Just remember that loans of 80% LVR or greater mean you will need to also cover the cost of lenders mortgage insurance (LMI).
  • Offset account. If you choose the loan split option to enjoy the flexibility of a variable rate on a portion of your loan, you can use an ME EveryDay Transaction Account to offset the variable part of your loan.
  • Repayment options. Weekly, fortnightly and monthly repayment schedules are available from ME. Interest-only repayments are also available on all loans for a maximum period of 10 years, while repayment holidays are available subject to approval.
  • Additional repayment flexibility. During the fixed period of your loan, you can make up to $30,000 of additional repayments to help you pay off your home quicker.
  • Redraw facility. The ME Flexible Fixed Home Loan also features a free redraw facility so that if you need to access the additional repayments you have made, you can redraw from those funds without incurring a fee. The minimum redraw amount is $500.
  • Member Package. If you pay an annual fee of $395 you can take out the loan with a Member Package, which allows you to avoid solicitor, valuation and fix/split loan variation fees.

What fees and charges come with this loan?

  • Solicitor fee: $200. This fee helps cover the cost incurred when ME's solicitors prepare the mortgage documents and organise the settlement of your property. However, this fee is waived if you take out a Member Package.
  • Valuation fee: $200. This fee is charged if ME needs to have your property valued, but the charge is waived if you have the Member Package.
  • Agent fee: $110. This fee may be charged if ME's solicitors have to instruct an agent to conduct the settlement of your property.

How to apply

You'll need to be at least 18 years of age and a citizen or permanent resident of Australia or New Zealand if you want to apply for this loan. If you match these criteria and would like to find out more about the ME Flexible Fixed Home Loan, click on the 'Go to Site' link on this page and you'll be redirected to the lender's website.

You can then fill out an online form to book an appointment with an ME mobile banking manager. You'll need to provide:

  • Your name
  • Your email address and phone number
  • Your postcode

A banker will then contact you to arrange a time to meet face to face.

In order to apply for this loan you will need to supply:

  • Information about your employment status and income
  • Details about the purpose of the loan, including information about the property you plan to purchase
  • Details of any assets you own
  • Information about any liabilities and ongoing expenses

The ME Flexible Fixed Home Loan is worth investigating if you're looking for a mortgage with the features outlined above.

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    Default Gravatar
    August 16, 2017

    ate you able to apply for this loan if you are self employed?

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      August 16, 2017

      Hello Kylie,

      Thank you for your inquiry.

      Unfortunately, this is fully-documented loan and regular income requirements such as paystub, financial statements and tax return forms.

      We recommend you consider low-doc loans, which is designed for self-employed individuals, sole traders and investors. Please use the calculator above the lender panel to estimate the costs of repayments prior applying, as well as the requirements.

      Hope this helps.


    Default Gravatar
    January 7, 2016

    Can disability pensioner get a low interest refinance home loan

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      January 8, 2016

      Hi Ros,

      Thanks for your enquiry.

      There are some specialist lenders that may allow you to apply for a home loan while receiving pension benefits. I suggest that you speak with aa licensed mortgage broker A broker can help you understand your financial position and they can leverage their panel of networks to find a lender that’s more inclined to review your application.

      Keep in mind that these types of applications are treated on a case-by-case basis but depending on the type of pension that you’re receiving, most lenders may also view the benefit as a secondary source of income. The lender will need to see that you are capable of repaying the loan and thus you may be required to demonstrate evidence of savings and good credit history.

      Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions before making a decision on whether it is right for you.

      All the best,

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