Yard Variable Home Loan

The Variable Home Loan from Yard is a variable rate home loan with some of the market's lowest rates. Here's what you need to know.

Yard is an online Australian lender. Its Variable Home Loan offers homebuyers and investors competitive rates. You can add an offset account for a small fee.

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Richard Whitten

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Richard Whitten is a money editor at Finder, and has been covering home loans, property and personal finance for 6+ years. He has written for Yahoo Finance, Money Magazine and Homely; and has appeared on various radio shows nationwide. He holds a Certificate IV in mortgage broking and finance (RG 206), a Tier 1 Generic Knowledge certification and a Tier 2 General Advice Deposit Products (RG 146) certification.

Expert review

The Yard Variable Home Loan has rates for investors and owner-occupiers, including an interest-only investment rate.

You can add a 100% offset account to this loan for a small fee.

About this loan

What are the features and benefits of the Yard Variable Home Loan?

  • Loan amount. The Yard Variable Home Loan has a minimum loan amount of $150,000 and a maximum loan amount of $1,000,000
  • Loan-to-value ratio (minimum deposit). This product's maximum insured loan-to-value ratio is 90%, meaning you can get it with a 10% deposit. But most rates require a 20% deposit.
  • Extra repayments. You can make extra repayments with this loan. It also has a redraw facility, allowing you to withdraw your extra repayments.
  • Flexibility. This loan is portable, meaning you can transfer it to a new property if upgrading. It also has a split facility, allowing you to divide the loan into fixed and variable portions.

What fees and charges come with this loan?

This loan has several fees you should be aware of:

  • Settlement fee: $445. This one-off fee covers the cost of loan settlement.
  • Offset fee (optional): If you choose to add an offset account to this loan there is a $120 annual fee.
  • Valuation fee: $253. This fee covers the lender's cost to have your property valued prior to settlement.
  • Discharge fee: $500. You pay this fee when exiting the loan.
  • Legal fee: $395. This fee covers the lender's conveyancing costs.

How to apply

If you are interested in the Yard Variable Home Loan or want more information, just click the green button and leave your details. A lending specialist from Yard will get in touch with you and help you take the next step.

  1. Yard Variable Home Loan information page
  2. Yard Variable Home Loan TMD

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2 Comments

    Default Gravatar
    Brian
    August 17, 2022

    I have a few black marks as a result of loss of businesses through Covid. I am working on them. Do I qualify for any loans. I owe $0.65m on a $1.22m residential house.

    Reply
      AvatarFinder
      Richard
      August 26, 2022

      Hi Brian,

      If you have any negative marks on your credit report, your options may be limited. Luckily, there are specialist lenders who offer bad credit home loans for Australian borrowers. Bad credit mortgages typically have higher interest rates and more fees, but if a regular lender can’t help, it may be your best chance.

      But you may be eligible to get a home loan from Yard if you:

      – Are at least 18 years old
      – Are an Australian permanent resident
      – Receive a salary from an employer or you are self-employed (2 years ABN registration). Professionals (e.g. Doctors, Lawyers, IT Professionals) who have recently become self-employed and have traded under an ABN for at least 6 months can be considered
      – Have no previous defaults greater than $1,500.

      You could enquire with Yard before submitting a full application and ask about your specific circumstances.

      Kind regards,
      Richard

      Reply
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