With a discounted variable rate, a redraw facility and no monthly fees, the Mortgage House Summer Home Loan 80 (12mth discounted variable-special) is worth considering for your next home loan application
If you’re thinking of purchasing property, the Mortgage House Summer Home Loan 80 offers a competitive interest rate of for the first 12 months, which then reverts back to the Mortgage House standard variable rate after this introductory period.
This home loan allows you to make additional repayments at any time without incurring penalty which means you can pay off your loan early.
With a 100% offset and redraw facility, loan splitting, salary credit and direct debiting options, the Mortgage House Summer Home Loan 80 comes with useful features to help you free yourself from debt sooner.
Things to consider about the Mortgage House Summer Home Loan 80
As a full documentation loan, this product offers a discounted variable rate of for the first 12 months to help you manage your periodic repayments.
With a maximum loan-to-value ratio (LVR) of , the Mortgage House Summer Home Loan 80 offers principal and interest repayment options, this product is available for purchase and refinance purposes.
Features of the Mortgage House Summer Home Loan 80
- Maximum loan amount. While there is no maximum amount you can borrow with this home loan, the minimum loan size is .
- Maximum LVR. The maximum LVR on this home loan is , which means you will not have to worry about taking out LMI (Lender’s Mortgage Insurance).
- Offset account. The Mortgage House Summer Home Loan 80 features a 100% offset account which can help reduce your interest payments. Free access to the funds in your offset account is available at more than 2,000 Bendigo Bank and Suncorp ATMs Australia-wide.
- Repayment options. With this loan, you can make additional repayments at any time without incurring penalty. This can help you pay off your loan earlier.
- Redraw facility. The Mortgage House Summer Home Loan 80 offers access to the additional repayments you have made though a free redraw facility which provides you with increased flexibility if you need to access the funds quickly.
- Loan split option. You can split the Mortgage House Summer Home Loan 80 if you wish to take advantage of the benefits of having both a fixed and variable rate.
- Payment options. You can make loan repayments via direct debit, direct credit, salary credit, deposit card and BPAY.
Fees you can avoid
- Monthly fee: With no ongoing monthly fee, you can focus on meeting your mortgage repayments.
- Rate lock fee. A $0 rate lock fee means you can secure a competitive rate without having to worry about the associated fees.
- Package fee. This loan comes with no package fee which means you can enjoy the benefits of useful features of Mortgage House products without worrying about paying a premium for package fees.
Fees you can’t avoid
- Application fee. This home loan comes with a application fee to cover the cost of setting up your home loan.
- Settlement fee. The settlement fee covers the cost involved with the settlement of your property.
- Discharge fee. A discharge fee applies when you’ve repaid your loan in full.
How can I apply for the Mortgage House Summer Home Loan 80?
If you’d like to apply for the Mortgage House Summer Home Loan 80, you’ll need to be an Australian resident or permanent citizen and over 18 years of age. You will also need to have a good credit history.
If the Mortgage House Summer Home Loan 80 sounds right for you, click on the ‘Go to Site’ link on this page to be taken to the Mortgage House website where you can complete an enquiry form to request more details about the loan.
You will need to provide the following information:
- Your name
- Your postcode
- Your phone number and email address
- Any comments or questions you have
Once you’ve submitted the form, a Mortgage House lending specialist will be in touch as soon as possible to answer any questions that you have about the home loan.
The Mortgage House Summer Home Loan 80 is worth considering if you’re looking to borrow funds to purchase an owner-occupied home. However, before you choose this or any other loan, make sure to compare mortgages from a range of lenders to ensure that you make an informed decision.