Mortgage House Advantage Discounted Variable Home Loan Review

Rates and Fees verified correct on December 11th, 2016

Pay no application or ongoing fees with the Mortgage House Advantage Discounted Variable Home Loan and enjoy an introductory low rate

The Mortgage House Advantage Discounted Variable Home Loan is a full documentation loan that offers a discounted rate for a 6-month introductory period. If you are refinancing to this loan Mortgage House will pay all the costs of switching your loan to them as well as dealing with your current lender directly so less hassle for you.

Discount introductory rate for 6 months.

Mortgage House are offering a discounted variable rate of 3.42% p.a. for the first 6-months which will revert to a rate of 4.19% p.a. after the 6-month introductory period.

Interest Rate Max Insured LVR Max LVR
6 Month Introductory Offer
3.42% p.a.
Comparison Rate
4.04% p.a.
70% 70%
LVR 80%
3.72% p.a.
Comparison Rate
4.15% p.a.
80% 80%
Product NameMortgage House Advantage Discounted Variable Home Loan
Interest Rate TypeVariable
Comp Rate^ (p.a.)
Minimum Loan Amount$150,000
Maximum Loan Term30 years
Mortgage Offset AccountYes
Mortgage 100% OffsetYes
Loan Redraw FacilityYes
Split Loan FacilityYes
Loan PortableYes
Suitable for InvestmentNo
Extra RepaymentYes
Available as equity loan/line of creditNo
Repayment TypePrincipal & Interest
Application Fee$0
Valuation Fee$0
Ongoing Fees$0 p.a.
Settlement Fee$200
Discharge Fee$450

Pros

  • If refinancing Mortgage House will pay all switching costs.
  • 100% offset account attached.
  • $0 application or ongoing fees.

Cons

  • $200 settlement fee for setting up you loan.
  • $450 discharge fee when you close your loan accounts.
  • Not available for investors.

Things to consider about the Mortgage House Advantage Discounted Variable Home Loan.

The Mortgage House Advantage Discounted Variable Home Loan is suited to owner occupiers who are purchasing residential property. There is no maximum loan amount for this loan as long as you borrow less than the associated loan-to-value ratio (LVR) you also benefit from minimal fees including no legal, valuation or ongoing fees.

This loan also comes with a redraw facility and a portability feature which offers you increased flexibility should your situation change.

Features of the Mortgage House Advantage Discounted Variable Home Loan

  • Loan amount. The Mortgage House Advantage Discounted Variable Home Loan allows you to borrow from $150,000 with no maximum as long it is under the maximum LVR.
  • Loan term. The loan is available for terms up to 30 years.
  • Repayment options. This loan allows you to choose between weekly, fortnightly and monthly repayment schedules to suit your situation.
  • Additional repayments. You can make extra repayments towards your loan amount at any time without incurring a penalty.
  • Redraw facility. You can access the extra repayments you make towards the loan through a free redraw facility.
  • Portability. The Mortgage House Advantage Discounted Variable Home Loan comes with a portability feature which means that if you decide to move houses, you can take the loan with you.
  • Account access. A dedicated online account allows you to check on the state of your mortgage whenever it is convenient to you and take charge of your home loan repayments.

Fees of the Mortgage House Advantage Discounted Variable Home Loan

This loan has no application or ongoing fees but below are a few fees it does have:

Fees you can’t avoid

  • Settlement fee: $200. Charged for the finalising of your loan with Mortgage House.
  • Discharge fee: $450. When closing your loan accounts you will be charged this fee.

How to apply for the Mortgage House Advantage Discounted Variable Home Loan

If you’d like to enquire about the Mortgage House Advantage Discounted Variable Home Loan, click on the green 'Go to site' button to be redirected to the Mortgage House website. You can then submit an online form and a Mortgage House representative will be in touch to discuss your borrowing needs.

You’ll need to supply:

  • Your name
  • Your email address and phone number
  • Your postcode
  • Any questions you would like answered

A Mortgage House home loan expert will then contact you to chat about your requirements. If you decide to apply for this loan you will need to provide a range of information including:

  • Proof of identity
  • Employment information and proof of income
  • Details about any assets and liabilities in your name
  • Information about the property you are buying

The Mortgage House Advantage Discounted Variable Home Loan offers attractive features to owner-occupiers including competitive interest, the ability to make additional repayments and a redraw; however you should compare a number of home loans on the market before deciding which one is right for you.

Mortgage House Advantage Discounted Variable Home Loan Review Interest Rate History vs RBA Cash Rate Graph

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This page was last modified on 11 April 2016 at 18:04.

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2 Responses to Mortgage House Advantage Discounted Variable Home Loan Review

  1. Default Gravatar
    tracey | April 7, 2016

    we owe 46 acres in heathcote vic do you lend on acreage
    as a lot of banks do not?
    we would like to build our home on it

    • Staff
      Belinda | April 8, 2016

      Hi Tracey,

      Thanks for getting in touch.

      You’ve come through to finder.com.au which is an online comparison website, so please note that we are not a lender and we do not represent Mortgage House.

      If you’d like to compare a range of construction or owner-occupier loans, you can visit this page.

      Most lenders treat these applications on a case-by-case basis so it would be best for you to speak to a mortgage broker or to contact the lender directly.

      Thanks,
      Belinda

Mortgage House Advantage Discounted Variable Home Loan

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  • App Fee / Annual Service Fee

    $0 / $0

  • Max LVR

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