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ME Flexible Home Loan review

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.

Offered with competitive variable or fixed rates, or as a split loan, the ME Flexible Home Loan lets you use the money in your EveryDay Transaction Account to offset your loan amount. There are no application or ongoing account-keeping fees to contend with and additional repayments are allowed.

Interest Rate Max Insured LVR Max LVR
LVR <= 80% (Investor, P&I)
5.07% p.a.
Comparison Rate
5.09% p.a.
80% 80%
LVR <= 80% (Owner Occupier, P&I)
4.31% p.a.
Comparison Rate
4.33% p.a.
80% 80%
LVR > 80% (Investor, P&I)
5.37% p.a.
Comparison Rate
5.39% p.a.
95% 80%
LVR > 80% to 90% (Owner Occupier, P&I)
4.61% p.a.
Comparison Rate
4.63% p.a.
90% 80%
LVR >90% (Owner Occupier, P&I)
4.61% p.a.
Comparison Rate
4.63% p.a.
95% 80%
Product NameME Flexible Home Loan
Interest Rate TypeVariable
Comp Rate^ (p.a.)
Minimum Loan Amount$40,000
Maximum LVR80%
Maximum Insured LVR80%
Mortgage Offset AccountYes
Mortgage 100% OffsetYes
Loan Redraw FacilityYes
Split Loan FacilityYes
Fixed Interest OptionYes
Suitable for InvestmentYes
Extra RepaymentYes
Available as equity loan/line of creditNo
Repayment TypePrincipal & Interest
Application Fee$0
Lender's Legal Fee$200
Valuation Fee$200
Ongoing Fees$0 p.a.
Settlement Fee$0
Discharge Fee$350


  • 100% offset account
  • No application fees
  • No annual fees


  • Valuation fee of $200
  • Solicitor fee of $200
  • Discharge fee of $350

Things to consider about ME Flexible Home Loan

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.

The ME Flexible Home Loan is also available for construction purposes.

Features 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 for the ME Flexible Home Loan

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 today.

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ME Flexible Home Loan

  • Interest Rate


  • Comparison Rate


  • App Fee / Annual Service Fee

    $0 / $0

  • Max LVR


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