Investors can maximise their tax effectiveness with this interest-only home loan.
The Tic:Toc Investor Interest-Only Variable Rate Home Loan offers investors a way to maximise their tax deductible debt by paying only the interest portion of their loan. It also offers some helpful features and the ability to make extra repayments.
| Product Name | Tic:Toc Investor Interest Only Variable Rate Home Loan |
|---|---|
| Interest Rate Type | Variable |
| Comp Rate^ (p.a.) | |
| Minimum Loan Amount | $50,000 |
| Maximum Loan Amount | $2,000,000 |
| Minimum Loan Term | 15 years |
| Maximum Loan Term | 25 years |
| Mortgage Offset Account | Yes |
| Mortgage 100% Offset | Yes |
| Loan Redraw Facility | Yes |
| Split Loan Facility | No |
| Loan Portable | No |
| Suitable for Investment | Yes |
| Extra Repayment | Yes |
| Available as equity loan/line of credit | No |
| Repayment Type | Interest Only |
| Application Fee | $0 |
|---|---|
| Lender's Legal Fee | $0 |
| Valuation Fee | $0 |
| Ongoing Fees | $0 p.a. |
| Settlement Fee | $0 |
| Discharge Fee | $325 |
Pros
- 100% offset account (with fee)
- Redraw facility
Cons
- A discharge fee of $325 applies
What do I need to know about this loan?
The Tic:Toc Investor Interest-Only Variable Rate Home Loan is available to investors in residential property.
What are the feature and benefits of the Tic:Toc Investor Interest-Only Variable Rate Home Loan?
- Loan amount and purpose. The Tic:Toc Investor Interest-Only Variable Rate Home Loan is only available to investors who are purchasing residential property. It has a minimum loan amount of $50,000 and a maximum loan amount of $2,000,000.
- Loan-to-value ratio. The Tic:Toc Investor Interest-Only Variable Rate Home Loan has a maximum LVR of .
- Repayment frequency. Repayments must be made monthly. It's important to remember that interest-only repayments won't reduce the principal amount. However, you can make as many additional repayments as you like towards the principal.
- Redraw facility. If you've made additional repayments towards the loan principal, the Tic:Toc Investor Interest-Only Variable Rate Home Loan allows you to withdraw these funds using the redraw facility. Keep in mind that there's a minimum redraw amount of $500.
- 100% offset account. The Tic:Toc Investor Interest-Only Variable Rate Home Loan offers a 100% offset account for an additional $10 per month.
What fees and charges come with this loan?
- Discharge fee: $325. This fee is charged when you close your home loan account, either by repaying your loan or refinancing.
How do I apply for this loan?
If you're interested in the Tic:Toc Investor Interest-Only Variable Rate Home Loan you can click the link below. You'll be redirected to the Tic:Toc website where you'll be walked through the quick, 20-minute application process.
