Lock in a competitive rate without sacrificing flexibility.
The SCU Standard Fixed Rate Home Loan features a sharp fixed rate along with features such as a split facility, a redraw account and the ability to make extra repayments.
The loan is available to owner-occupiers.
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What are the features and benefits of the SCU Standard Fixed Rate Home Loan?
- Loan amount and purpose. This loan has a minimum loan amount of $25,000 and a maximum loan amount of $5,000,000. It's available to borrowers purchasing a home to live in.
- Loan-to-value ratio. The SCU Standard Fixed Rate Home Loan has a maximum LVR of 95%, but be aware that borrowing more than 80% means you'll need to pay for lenders mortgage insurance (LMI).
- Flexible repayments. You can make your repayments weekly, fortnightly or monthly. Unlike many fixed rate home loans, the SCU Standard Fixed Rate Home Loan allows additional repayments.
- Redraw facility. You can withdraw any additional repayments you've made using the loan's redraw facility. There's a minimum redraw amount of $100 and a redraw fee of $20.
- Split facility. You can split the SCU Standard Fixed Rate Home Loan into fixed and variable rate portions.
What fees and charges come with this loan?
- Switching fee: $300. You will only have to pay this fee if you switch to a different SCU mortgage.
- Legal fee: $286. This fee covers the legal cost of setting up your loan.
- Valuation fee: $209. This fee covers the lender's cost to value your property. This fee may vary by state.
- Discharge fee: $180. The discharge fee applies when you close out your home loan, either when the loan ends or when you refinance.
How do I apply for this loan?
If you're interested in the SCU Standard Fixed Rate Home Loan, you can click the link below. You'll be redirected to SCU's website where you'll be walked through the application process.