ME Flexible Home Loan review

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Customise a loan to suit your lifestyle and borrowing needs when you take out a Flexible Home Loan from ME.

The ME Flexible Home Loan is all about choice and customisation. Available with a wide range of features and optional inclusions, the loan lets you tailor a mortgage to suit your individual needs.

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Expert review

Marc Terrano

Review by


Marc Terrano is a lead publisher and growth marketer at Finder. He has previously worked at Finder as a publisher for frequent flyer points and home loans, and as a writer, podcast host and content marketer. Marc has a Bachelor of Communications (Journalism) from the University of Technology Sydney. He’s passionate about creating honest and simple reviews and comparisons to help everyone get value for money.

Expert review

The ME Flexible Home Loan can be used for both owner-occupied and investment loans. Available for fixed rate periods of between one and seven years, while new loan applicants can receive a 0.30% p.a. discount on ME’s variable rate.

The ME Flexible Home Loan also features a 100% offset account to allow you to minimise your interest repayments across the life of your loan. Interest-only repayments are available on all loans for periods of up to 10 years, while you can also make additional repayments and then access those extra funds through a redraw facility.

About this loan

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

  • Maximum loan amount. The minimum amount you can borrow with the ME Flexible Home Loan is $40,000. The maximum amount you can borrow is determined based on the value of the property, your income, your ongoing commitments and your ability to repay the loan.
  • Maximum LVR. This loan is available with a maximum LVR of 80%, but you'll need to take out mortgage insurance if your LVR is 80% or greater.
  • 100% Offset account. The ME Flexible Home Loan comes with an ME EveryDay Transaction Account, with the funds in your transaction account used to offset the amount you borrow. This allows you to keep your interest payments to a minimum.
  • Repayment flexibility. You can choose from a weekly, fortnightly or monthly repayment schedule. Repayment holidays are also available, which allow you to take a pause from making repayments when an important lifestyle change occurs.
  • Additional repayments. Borrowers who choose a variable rate loan can make unlimited additional repayments at any time, while borrowers with a fixed rate can make up to $30,000 of extra repayments during the fixed rate period.
  • Redraw facility. You can redraw cash from your extra repayments at any time. No charge applies to redraws but the minimum amount allowed is $500.
  • Member Package. The Flexible Home Loan is also available as part of the ME Member Package, which allows you to access a lower variable rate and avoid solicitor fees, valuation fees and fix/split loan variation fees. However, you will have to pay a $395 annual fee.

What fees and charges come with this loan?

  • Application fee: $0
  • Account-keeping fee: $0
  • Redraw fee: $0
  • LMI: $0 (If you borrow less than 80% LVR)
  • Fixed/split loan variation fee: $150. This fee must be paid if you make a request to fix or split your loan after settlement.
  • Rate lock fee: $500. If you're willing to pay this fee you can lock in your fixed interest rate on the day you apply for your loan.
  • Solicitor fee: $200. This helps covers the costs ME incurs when its solicitors prepare your mortgage and arrange the settlement of your property. However, this fee is waived if you have a Member Package.
  • Valuation fee: $200 This fee is charged when ME has your property valued, but can be waived if you have a Member Package.
  • Agent fee: $110. This fee is paid when the lender's solicitors must instruct an agent to arrange settlement.

How to apply

If you're 18 years or older and a citizen or permanent resident of Australia or New Zealand, you're eligible to apply for the ME Flexible Home Loan. If you've compared your options and think it's the ideal loan for you, click the link on this page to be securely redirected to the ME website. You can then arrange a time for a mobile banking expert to come to you and discuss your borrowing needs.

If you choose to apply for the loan you will need to supply details about:

  • The purpose of the loan and the amount you wish to borrow.
  • Your income, such as recent payslips and tax assessment notices.
  • Your assets, including shares and any other forms of income.
  • Your liabilities, including credit card debts and other ongoing expenses.

There's plenty to like about the ME Flexible Home Loan but it's essential that you compare a range of loans before choosing one that meets your borrowing requirements. Start comparing loans at finder.com.au today.

Home Loan Offers

Important Information*
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Westpac Flexi First Option Home Loan - Basic Variable Rate (Owner Occupier, P&I)

Up to $3,000 refinance cashback. A flexible and competitive variable rate loan. Eligible borrowers refinancing $250,000 or more can get $2,000 cashback per property plus a bonus $1,000 for their first application. Other conditions apply.

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St.George Basic Home Loan - LVR 60% to 80% (Owner Occupier, P&I)

Up to $4,000 refinance cashback. With this competitive variable rate loan from St.George, refinancers borrowing $250,000+ can get up $4,000 cashback and borrow up to 90% of the property's value. (Terms, conditions & exclusions apply).

Logo for Athena Liberate Home Loan - 70% to 80% LVR Owner Occupier, P&I
Athena Liberate Home Loan - 70% to 80% LVR Owner Occupier, P&I

A competitive variable rate mortgage for owner occupiers $0 application and $0 ongoing fees. This interest rate falls over time as you pay off the loan.

Logo for UBank UHomeLoan Variable Rate - Discount Offer for Owner Occupiers, Variable P&I Rate
UBank UHomeLoan Variable Rate - Discount Offer for Owner Occupiers, Variable P&I Rate

Take advantage of a low-fee mortgage with a special interest rate of just 2.34% p.a. and a 2.34% p.a. comparison rate.

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