Reduce Rate Slasher Variable Home Loan
The Reduce Rate Slasher Variable mortgage is a very competitive variable rate loan with an optional offset account.
About this loan
What are the features and benefits of the Reduce Rate Slasher Variable Home Loan?
- Purpose. This product is available for both home buyers (owner-occupiers) and investors.
- Deposit size. You can borrow up to 90% of your property's value.
- Offset account. The loan has a 100% offset account but it's entirely optional, and there's a $10 monthly fee if you choose to use this feature.
- Helpful features. The loan has a redraw facility with no minimum redraw amount. You can also split the loan into fixed and variable portions.
What fees and charges come with this loan?
The Reduce Rate Slasher Variable Home Loan keeps fees fairly low, although there is an application fee and a few other fees to watch out for.
- Application fee: $0. You pay this fee when applying for the loan.
- Legal fee: At cost. disbursements payable. This fee covers the legal costs with processing the loan.
- Valuation fee: At cost. Third-party valuation fees are not charged by the lender but will apply at cost.
- Offset fee (optional): $10. This is a monthly fee that only applies if you add an offset account to the loan.
How to apply
To apply for this product or to get more information, click the green button and follow the application process to speak to a Reduce Home Loans mortgage specialist. They'll talk you through eligibility requirements and assist you with the application.