Mortgage House Advantage Fixed Rate (Special) Home Loan Review

Get a competitive fixed rate and a 100% offset account when you take out a Mortgage House Advantage Fixed (Special) Home Loan.

The Advantage Fixed (Special) 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 and you can also make unlimited extra repayments. You will need a 30% deposit to get this loan.

Product NameMortgage House Advantage Home Loan (Special) 2 Year Fixed
Interest Rate TypeFixed
Interest Rate (p.a.)3.49%
Comp Rate^ (p.a.)3.85%
Minimum Loan Amount$150,000
Maximum Loan Amount$5,000,000
Maximum LVR70%
Maximum Insured LVR70%
Mortgage Offset AccountYes
Mortgage 100% OffsetYes
Loan Redraw FacilityYes
Split Loan FacilityYes
Fixed Interest OptionYes
Available as equity loan/line of creditYes
Repayment TypePrincipal & Interest
Application Fee$600
Valuation Feeup to $300 free
Ongoing Fees$10 monthly ($120 p.a.)
Settlement Fee$449
Discharge Fee$450

Pros

  • Competitive fixed rate
  • 100% offset account
  • No application fee

Cons

  • Requires a 30% deposit
  • There is a $10 monthly fee
  • There is a $449 settlement fee

Who is Mortgage House

Mortgage House is a leading non-bank home loan brand in Australia. It began operations as a mortgage broker in 1986, and now has more than 25 home loan centres across Australia offering customers an array of products and services.

Things to consider about the Mortgage House Advantage Fixed (Special) Home Loan

The Mortgage House Advantage Fixed (Special) 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.

The Mortgage House Advantage Fixed (Special) Home Loan features

  • Maximum loan amount. While there is no maximum amount on any of these loans, the minimum you can borrow is $150,000.
  • Maximum LVR. With a maximum LVR of 70%, you will need to save a 30% deposit.
  • Offset account. The Advantage Fixed (Special) 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 (Special) Home Loans. This allows you to access your additional repayments should you ever need extra funds.

Fees

  • Monthly fee: $10 This is an ongoing account service and maintenance fee that must be made on a month-to-month basis.
  • Application fee : $600. There is no application fee with this product.
  • Settlement fee: $449. 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 (Special) 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 (Special) Home Loan.

If you’d like more details about either loan, click the the green button above. You’ll need to fill out a form with your contact details and a lending specialist from Mortgage House will get in touch. To complete a full home loan application you will need:

  • 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
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Mortgage House Advantage Home Loan (Special) 2 Year Fixed

  • Interest Rate

    3.49% p.a.

  • Comparison Rate

    3.85% p.a.

  • App Fee / Annual Service Fee

    $600 / $10

  • Max LVR

    70%

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