Mortgage House Advantage Fixed Rate Home Loan Review

Rates and Fees verified correct on December 6th, 2016

Pay minimal fees and take advantage of a 100% offset account when you take out a Mortgage House Advantage Fixed Home Loan.

The Advantage Fixed Home Loan from Mortgage House allows you to lock in a competitive fixed rate and take advantage of the security that comes with knowing how much each repayment will be. These loans are offered with a 100% offset account, allowing you to keep your interest payments to a minimum, while there are no monthly or annual fees, package fees or rate lock fees, and you can also make unlimited extra repayments.

Interest Rate Max Insured LVR Max LVR
1 Year Fixed (Investor)
4.14% p.a.
Comparison Rate
4.60% p.a.
90% 80%
1 Year Fixed (Owner Occupier)
3.99% p.a.
Comparison Rate
4.56% p.a.
90% 80%
1 Year Fixed (LVR 90%+)
4.2% p.a.
Comparison Rate
4.43% p.a.
95% 90%
2 Year Fixed (Owner Occupier)
3.99% p.a.
Comparison Rate
4.52% p.a.
90% 80%
2 Year Fixed (Investor)
4.14% p.a.
Comparison Rate
4.57% p.a.
90% 80%
2 Year Fixed (LVR 90%+)
4.2% p.a.
Comparison Rate
4.43% p.a.
95% 90%
3 Year Fixed (Owner Occupier)
3.99% p.a.
Comparison Rate
4.48% p.a.
90% 80%
3 Year Fixed (LVR 90%+)
4.2% p.a.
Comparison Rate
4.42% p.a.
95% 90%
3 Year Fixed (Investor)
4.14% p.a.
Comparison Rate
4.54% p.a.
90% 80%
4 Year Fixed (LVR 90%+)
4.49% p.a.
Comparison Rate
4.47% p.a.
90% 80%
4 Year Fixed (Owner Occupier)
4.34% p.a.
Comparison Rate
4.57% p.a.
90% 80%
4 Year Fixed (Investor)
4.44% p.a.
Comparison Rate
4.62% p.a.
90% 80%
5 Year Fixed (Owner Occupier)
4.49% p.a.
Comparison Rate
4.62% p.a.
90% 80%
5 Year Fixed (Investor)
4.59% p.a.
Comparison Rate
4.68% p.a.
90% 80%
5 Year Fixed (LVR 90%+)
4.59% p.a.
Comparison Rate
4.50% p.a.
90% 90%
Product NameMortgage House Advantage Fixed Rate Home Loan
Interest Rate TypeFixed
Comp Rate^ (p.a.)
Minimum Loan Amount$100,000
Minimum Loan Term5 years
Maximum Loan Term30 years
Maximum LVR80%
Maximum Insured LVR90%
Mortgage Offset AccountYes
Mortgage 100% OffsetYes
Loan Redraw FacilityYes
Split Loan FacilityYes
Fixed Interest OptionYes
Loan PortableYes
Suitable for InvestmentYes
Extra RepaymentYes
Available as equity loan/line of creditNo
Repayment TypePrincipal & Interest and Interest Only Options
Application Fee$300
Valuation Fee$0
Ongoing Fees$10 monthly ($120 p.a.)
Settlement Fee$200
Discharge Fee$450

Pros

  • 100% offset account.
  • There is $300 application fee.
  • Redraw facility.

Cons

  • There is $450 exit fee.
  • Settlement fee of $200.

Things to consider about the Mortgage House Advantage Fixed Home Loan

The Mortgage House Advantage Fixed Home Loan is available for those looking to purchase a residential property. This loan requires full documentation and proof of income from borrowers, and are also available for construction purposes.

There are no penalties for making additional repayments on any of these loans, and you can enjoy the flexibility of making extra repayments at any time that suits you. A free redraw facility is also offered so that you can access those funds if required.

Features of the Mortgage House Advantage Fixed Home Loan

  • Maximum loan amount. While there is no maximum amount on any of these loans, the minimum you can borrow is $100,000.
  • Maximum LVR. With a maximum LVR of 90%, the Mortgage House Advantage Fixed Home Loans will require you to take out lender’s mortgage insurance (LMI) if you borrow more than 80% LVR.
  • Offset account. The Advantage Fixed Home Loan features a 100% offset account, allowing you to keep your interest payments to a minimum.
  • Additional repayments. You can make unlimited additional repayments towards your loan without incurring any penalties. These repayments can be made at any time and allow you to pay off your mortgage ahead of schedule.
  • Redraw facility. A free redraw facility is offered with the Mortgage House Advantage Fixed Home Loans. This allows you to access your additional repayments should you ever need extra funds.
  • Salary credit. You can pay off your loan using the free salary credit option available from Mortgage House.

Fees

Fees you can avoid

  • Annual fee: $10
  • Package fee: $0
  • Rate lock fee: $0
  • Redraw fee: $0
  • Additional repayment fee: $0
  • LMI: $0 (if you borrow less than 80% LVR)

Fees you can’t avoid

  • Monthly fee: $10 This is an ongoing account service and maintenance fee that must be made on a month-to-month basis.
  • Application fee: $300. You’ll need to pay this charge if you borrow less than $250,000.
  • Settlement fee: $200. This fee covers the costs associated with your property purchase settlement.
  • Discharge fee: $450. This fee is charged when you pay off your mortgage and your loan is discharged.

How to apply for the Mortgage House Advantage Fixed Home Loan

If you’re an Australian citizen or permanent resident and at least 18 years of age, you may be eligible to apply for the Mortgage House Advantage Fixed Home Loan.

If you’d like more details about either loan, click the ‘Go to Site’ or ‘Find out more’ link on this page to be taken to the Mortgage House website. You’ll then be able to provide:

  • Your name
  • Your postcode
  • Your phone number and email address
  • Your comments and/or questions

A Mortgage House lending expert will contact you to discuss your borrowing requirements. If you wish to apply for one of these fixed loans, you’ll need to supply:

  • Information about your employment status and proof of income
  • Details of any assets you own
  • Details of your liabilities and ongoing expenses
  • Information about the property you want to buy

The Mortgage House Advantage Fixed Home Loans are worth considering if you want a loan with a competitive fixed rate and a host of flexible features. Just make sure that you compare these loans with a range of similar products on the market to find the right loan for you.

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

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This page was last modified on 21 October 2016 at 13:07.

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Mortgage House Advantage Fixed Rate Home Loan

  • Interest Rate

    N/A

  • Comparison Rate

    N/A

  • App Fee / Annual Service Fee

    $300 / $10

  • Max LVR

    80%

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