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ME Flexible Home Loan with Member Package

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Access a discounted interest rate and a range of flexible borrowing features when you take out an ME Flexible Home Loan With Member Package

ME’s Flexible Home Loan offers a competitive variable rate, flexible repayment options, a 100% offset facility and a range of other features to make it as easy as possible to purchase your next home. However, if you pay an annual fee of $395 you can take out an ME Flexible Home Loan With Member Package, which waives a number of fees and also entitles you to a discounted interest rate.

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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

It waives the solicitor fee, valuation fee, and fees for fixing or splitting your loan that apply to the lender’s standard Flexible Home Loan. In exchange for these savings, you’re required to pay an annual fee of $395.

Available for owner-occupier and investment borrowers, the ME Flexible Home Loan With Member Package also features a 100% offset account and a choice of flexible repayment options. Construction lending is also available.

About this loan

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

  • Maximum loan amount. While no maximum loan amount is listed, the minimum amount you can borrow is $40,000.
  • Maximum LVR. The ME Flexible Home Loan With Member Package allows you up to borrow up to 80% of the value of your property, but borrowing more than 80% LVR means you will also have to manage the cost of lender's mortgage insurance (LMI).
  • 100% offset account. You can link the variable component of your loan to an ME EveryDay Transaction Account, which can be used to offset the amount you have borrowed and minimise the interest payments you are required to make.
  • Repayment options and flexibility. The loan allows you to make principal and interest or interest-only repayments, and you can choose to repay the amount you borrow on a weekly, fortnightly or monthly schedule. Additional repayments can be made on the ME Flexible Home Loan With Member Package at any time without having to worry about extra fees, and the same goes for paying your loan off ahead of schedule. Keep in mind that electing to make interest only payments can change the interest rate offered with this loan.
  • Redraw facility. You can access the extra repayments you have made at any time without incurring a fee. The minimum redraw amount is $500.
  • Interest rate discount. Paying the annual Member Package fee entitles you to a 0.20% p.a. interest rate discount.

What fees and charges come with this loan?

  • Application fee: $0
  • Valuation fee: $0
  • Legal fee: $200
  • Redraw fee: $0
  • Annual package fee: $395. Paying this fee entitles you to the interest rate discount and to have legal and valuation fees waived.
  • Agent fee: $110. You'll need to pay this fee if ME's solicitors need to get an external agent to oversee the settlement of your property.

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. So if you've compared your borrowing options and decided that the ME Flexible 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 and 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 submit the form to arrange a convenient time to meet 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
  • The purpose of the loan
  • Information about your assets, liabilities and ongoing expenses
  • Details about the property you plan to purchase

The ME Flexible Home Loan With Member Package has plenty to offer to the right borrower, so make sure to compare it with similar mortgage products to find out if it's the right loan for you.

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.

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

Up to $4,000 refinance cashback. A competitive variable rate loan from St.George. Refinancers borrowing $250,000 or more can get $4,000 cashback (Other terms, conditions and 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 2.49% p.a. and a 2.49% p.a. comparison rate.

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  1. Default Gravatar
    October 1, 2018

    What home loans do you offer without annual fees, please? I really don’t think an annual fee of $400 is a reasonable exchange for a $400 one off legal and valuation fee. This is not competitive against other loans on offer that are 0$ fees. Thanks!

    • Avatarfinder Customer Care
      October 2, 2018

      Hello Teresa,

      Thank you for your comment.

      It’s important to check the fees before applying for a home loan. You may want to check this page wherein the loans offer you no ongoing monthly administrative fees, no exit fees and no annual fees, making it more affordable to own a home and repay the mortgage. However, please also keep in mind that there are still charge fees for offset or redraw facilities, which might add a considerable cost to your loan. After comparing the home loans products on the page, please click the Go to Site button to apply. Please ensure your eligibility before submitting an application for the loan.

      Best to speak with a mortgage broker to discuss options based on your needs.

      Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.


  2. Default Gravatar
    April 2, 2016

    If I want to have a credit card with ME bank along with my home loan account and everyday transaction account- is that possible? ie. so I can see all three accounts on my online banking.

    Would the credit card & rewards program cost extra?

    • Avatarfinder Customer Care
      April 7, 2016

      Hi C,

      Thanks for getting in touch.

      Unfortunately you can’t combine other ME products with the Flexible Home Loan with the Member Package. However, you could have these as stand-alone accounts.

      With the Member Package, please note that you would pay an annual $395 fee while valuation and solicitor fees are waived.

      Please get in touch with ME Bank directly if you have further enquiries.

      Kind regards,

  3. Default Gravatar
    January 12, 2016

    Is there a maximum additional payments amount into the offset account?

    • Default Gravatar
      January 14, 2016

      Hi Paul,

      Thank you for contacting a financial comparison website and general information service.

      The offset account that you can link to the variable portion of this loan is the ME Bank EveryDay Transaction account so similar to other transaction accounts there is no limit to the payments you make into it, if you would like more information on the account please see our page on it here.


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