ME Flexible Fixed Home Loan with Member Package

If you’re looking for the certainty of a fixed rate along with flexible and convenient features, consider the ME's Flexible Fixed Home Loan with Member Package

The ME Flexible Fixed Home Loan with Member Package offers a competitive fixed rate along with a variety of terms, extra repayment options and features such as a free redraw facility. In exchange for an annual package fee, borrowers can save on interest rates and other fees.

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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 with Member Package offers fixed rate terms of between one and seven years and gives borrowers the option of splitting their loan into fixed and variable portions. The loan is available for both owner occupiers and investors and investors have the option of paying interest one year in advance.

The loan offers rate discounts and waived fees in exchange for a $395 annual package fee.

About this loan

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

  • Loan term: 30 years.
  • Minimum loan amount: The minimum amount available to borrow is $40,000.
  • Interest-only repayments: Interest-only repayments are available, with an interest-only period of up to 5 years for owner occupiers and up to 10 years for investors. Investors can also pay up to one year's interest in advance. Please note that the rates quoted on this page are for principal and interest loans. For interest only loans, the rates may differ.
  • Rate lock: The ME Flexible Fixed Home Loan with Member Package offers borrowers the option of paying a fee in order to lock in their application rate for 90 days. This guards against any rate rises between application and settlement.
  • Extra repayments: Fixed rate borrowers can make up to $30,000 extra repayments over the life of the fixed period without incurring a penalty.
  • Free redraw facility: This loan offers unlimited free redraws, with a minimum redraw amount of $500.

What fees and charges come with this loan?

  • Package fee: $395 per annum. Paying this fee entitles you to the interest rate discount and waived legal and valuation fees.
  • Lenders mortgage insurance: Varies. This fee is payable if you borrow more than 80% of the property's value.
  • Rate lock: $500. This fee allows borrowers to lock in their rate for 90 days from the date of application.

How to apply

If you want to apply for an ME home loan, you'll need to be at least 18 years of age and a citizen or permanent resident of Australia or New Zealand. If you've compared your options and decided that the ME Flexible Fixed Home Loan with Member Package sounds like the right loan for you, click the link on this page to be redirected to the ME website.

Once there, you can fill out an enquiry form, which will ask you to provide:

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

An ME mobile banking expert will be in touch with you shortly after you have submitted the form to arrange a convenient time to meet you and help you find the right mortgage.

To apply for an ME home loan, you'll need to supply:

    • Details of your income and your most recent tax return
    • Details of the purpose of the loan
    • Information about your assets, liabilities and ongoing expenses
    • Details about the property you plan to purchase

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