Mortgage House Advantage Home Loan 80 (no offset)

A low-rate, basic home loan with helpful features like portability and a redraw facility.

The Mortgage House Advantage Home Loan 80 (no offset) offers borrowers a low variable rate and no ongoing or application fees. Plus, if you refinance your current variable rate home loan to Mortgage House, they’ll pay up to 100% of your switching costs (terms and conditions apply).

Product NameMortgage House Advantage Variable Home Loan - 80 (PAYG Special No Offset)
Interest Rate TypeVariable
Interest Rate (p.a.)3.64%
Comp Rate^ (p.a.)3.67%
Minimum Loan Amount$300,000
Maximum Loan Amount$5,000,000
Minimum Loan Term5 years
Maximum Loan Term30 years
Maximum LVR80%
Maximum Insured LVR80%
Mortgage Offset AccountNo
Mortgage 100% OffsetNo
Loan Redraw FacilityYes
Split Loan FacilityYes
Fixed Interest OptionYes
Loan PortableYes
Suitable for InvestmentNo
Extra RepaymentYes
Available as equity loan/line of creditYes
Repayment TypePrincipal & Interest
Application Fee$0
Ongoing Fees$0 p.a.
Settlement Fee$200
Discharge Fee$450

Pros

  • A highly portable loan
  • Free redraws
  • No application or ongoing fees

Cons

  • No offset account
  • A $200 fee applies
  • A $450 fee applies

Details to consider about the Mortgage House Advantage Home Loan 80 (no offset)

The Mortgage House Advantage Home Loan 80 (no offset) is available for owner-occupiers for purchase or refinance. The loan doesn’t have a 100% offset account, but offers a low variable rate.

Features of the Mortgage House Advantage Home Loan 80 (no offset)

  • Loan amount and loan-to-value ratio (LVR). This loan has a minimum loan amount of $300,000, and you can borrow up to 80% of the value of the property you’re buying.
  • Flexible repayments. The Mortgage House Advantage Home Loan 80 (no offset) allows weekly, fortnightly or monthly repayments.
  • Loan portability. If you move house while you have the Mortgage House Advantage Home Loan 80 (no offset), your home loan can move with you.
  • Free redraw. The Mortgage House Advantage Home Loan 80 (no offset) offers unlimited free redraws, which allows you to access any extra repayments you’ve made.
  • Low fees. The Mortgage House Advantage Home Loan 80 (no offset) has no application or ongoing fees, but there is a $200 settlement fee.

Fees

  • Settlement fee: $200. The Mortgage House Advantage Home Loan 80 (no offset) carries a $200 settlement fee.
  • Discharge fee: $450. This fee is charged when you discharge your loan by either paying it off or refinancing to another lender.

How to apply for the Mortgage House Advantage Home Loan 80 (no offset)

If you’ve compared your options and think the Mortgage House Advantage Home Loan 80 (no offset) could be right for you, hit the button below to be taken to Mortgage House’s site. You should have a few pieces of information on hand when applying for the loan:

    • Personal information. You’ll need to provide your name, date of birth and full contact details.
    • Financial information. Mortgage House will want to know details about your income, assets and any liabilities you have.
    • Loan information. Mortgage House will want to know the loan purpose, as well as the amount you’re applying for.

The Mortgage House Advantage Home Loan 80 (no offset) offers a low variable interest rate and handy features that can help you take control of your home loan. Add it to your comparison today.


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2 Responses

  1. Default Gravatar
    MichelionaMay 14, 2018

    I need to borrow about $80,000 to cover the short fall in a house I am buying. I already own 2 houses outright, with no mortgages on either of them. I will sell one to cover the cost of a new one I am in the process of buying. When the house I already own sells, I can pay the $80,000 back. I would only need the loan for less than one year as houses in this area are selling fast.
    What is the best and cheapest way to do this? Bridging finance? Personal loan? Mortgaging one property?

    • Staff
      JeniMay 15, 2018Staff

      Hi Micheliona,

      Thank you for getting in touch with finder.

      Since you have mentioned options to borrow $80,000, I suggest not to go with a personal loan as it has the highest interest rate among all of your options.

      While we are not allowed to provide specific recommendations, let me give you general information to help you make a better choice. Please check out this link to compare which lenders to talk to about bridging finance. Now, to compare your options if you are considering getting a home loan, please visit this page.

      I hope this helps.

      Have a great day!

      Cheers,
      Jeni

Mortgage House Advantage Variable Home Loan - 80 (PAYG Special No Offset)

  • Interest Rate

    3.64% p.a.

  • Comparison Rate

    3.67% p.a.

  • App Fee / Annual Service Fee

    $0 / $0

  • Max LVR

    80%

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