Take advantage of a competitive fixed rate and the convenience of consistent repayment amounts with the Fixed Rate Loan from Switzer Home Loans.
If you’re looking for a home loan that combines attractive borrowing features with the convenience of a fixed interest rate, the Fixed Rate Loan from Switzer Home Loans is worth considering. The loan allows you to secure a competitive fixed rate for between one and five years, and is designed for loans of $100,000 or more with a maximum LVR of 80%.
Switzer Home Loans has also waived a number of standard home loan fees on this mortgage, including the application fee, valuation fee and settlement fee, allowing you the flexibility you need to pay your loan off sooner.
| Product Name | Switzer Fixed Rate Home Loans |
|---|---|
| Interest Rate Type | Fixed |
| Comp Rate^ (p.a.) | |
| Minimum Loan Amount | $100,000 |
| Maximum Loan Amount | $3,000,000 |
| Minimum Loan Term | 25 years |
| Maximum Loan Term | 30 years |
| Maximum LVR | 80% |
| Maximum Insured LVR | 90% |
| Mortgage Offset Account | No |
| Loan Redraw Facility | Yes |
| Split Loan Facility | Yes |
| Fixed Interest Option | Yes |
| Loan Portable | Yes |
| Suitable for Investment | Yes |
| Extra Repayment | Yes |
| Available as equity loan/line of credit | Yes |
| Repayment Type | Principal & Interest |
| Application Fee | $0 |
|---|---|
| Lender's Legal Fee | $0 |
| Valuation Fee | $0 |
| Ongoing Fees | $0 p.a. |
| Settlement Fee | $0 |
| Discharge Fee | $295 |
Pros
- $0 annual or monthly fees.
- $0 application fee as it is currently waived.
- Ability to make extra repayments that help pay off the loan sooner.
Cons
- $295 discharge fee when you close out your home loan.
- No redraw facilities to access any extra repayments made into the loan.
- Cannot split the loan to allow access to an offset account.
Who is Switzer Home Loans?
Switzer Home Loans is an Australian-owned non-bank lender launched by veteran financial commentator Peter Switzer. Switzer is partnered with non-bank lender Synergy Home Loans to provide competitive, tailored home loan solutions to meet your needs.
Things to consider about the Switzer Home Loans Fixed Rate Loan
The Switzer Home Loans Fixed Rate Loan is a full doc loan that can be used to buy a home or refinance an existing loan. It is available for both residential and investment purposes. You can lock in a competitive fixed rate for one, two, three, four or five years, and the loan allows you to borrow up to 80% of the property’s purchase price.
Repayments are principal and interest and the Switzer Home Loans Fixed Rate Loan is also available as an equity loan.
Features of the Switzer Home Loans Fixed Rate Loan
- Loan amount. The Switzer Home Loans Fixed Rate Loan allows you to borrow between $100,000 to $3,000,000.
- Loan term. This loan is available for terms of between 25 and 30 years, while you can choose to secure a competitive fixed interest rate for one, two, three, four or five years.
- Maximum LVR. The maximum loan-to-value ratio of this loan is 80%, which means you’ll need to have a deposit of at least 20% of the purchase price saved up in order to qualify for this mortgage.
- Lending service manager. Every Switzer Home Loans borrower gets access to their own lending service manager to provide a personal point of contact. Each manager has a minimum of 10 years banking and lending experience under their belt.
- Loan access. You can access your Switzer Home Loans Fixed Rate Loan online via the Switzer Home Loans website, or over the phone by calling your lending service manager.
- Repayments. Principal and interest repayments towards your loan amount can be made on a weekly, fortnightly or monthly basis.
Fees
Fees you can avoid
- Application fee: $0. This administrative fee is waived for this loan.
- Annual service fee: $0. There is no annual fee on the Switzer Home Loans Fixed Rate Loan.
- Ongoing monthly fee: $0. No ongoing account-keeping fees apply to this loan.
- Valuation fee: $0. Switzer Home Loans will have the value of your property professionally appraised as part of the lending process, but no fee is charged for this service.
- Legal fee: $0. There is no fee charged to cover the lender’s legal costs.
Fees you can’t avoid
- Exit fee: $295. This fee is charged when you discharge your home loan.
- Fixed rate lock fee: $395. If you wish to lock in your fixed interest rate when you apply for your loan and protect it against fluctuations, you’ll need to pay this fee.
How to apply for the Switzer Home Loans Fixed Rate Loan
If the Switzer Home Loans Fixed Rate Loan sounds ideal for you and you’d like to find out more, click the ‘Go to site’ link on this page to be redirected to the Switzer Home Loans website. You can then contact a Switzer Home Loans lending service manager via phone or email to discuss your budget and your borrowing needs.
You can apply for a loan from Switzer Home Loans online or over the phone, or elect to get in touch with the lender via email.
If you’d like to speed up the application process, you can fill out a quick online application form and receive conditional approval online. You’ll need to provide:
- Your name, email address and phone number
- Your age, marital status and number of dependants
- Your preferred contact method and time
- A summary of your income and expenditure, including your monthly income and your ongoing loan payments
- Details of any assets you own, such as real estate, savings and shares
- The location and estimated value of the property you wish to purchase
- Any other comments you have
The Switzer Home Loans Fixed Rate Loan offers several competitive features and is worth considering if you’re looking for a fixed rate loan. Compare this mortgage with other loans on the market and shop around to find the right product for you.
