Yellow Brick Road Rate Smasher Home Loan

Rates and Fees verified correct on December 4th, 2016

Get a low variable as well with no application or ongoing fees on a basic home loan

Yellow Brick Road's Rate Smasher Home Loan offers the basic features of a home loan without paying for extra features you may not need.

Owner occupier borrowers looking to refinance or take out their first mortgage can benefit from no account management or application fees, as well as the flexibility and accessibility on offer.

Product NameYellow Brick Road Rate Smasher Home Loan
Interest Rate TypeVariable
Interest Rate (p.a.)3.68%
Comp Rate^ (p.a.)3.68%
Minimum Loan Amount$100,000
Maximum Loan Amount$750,000
Minimum Loan Term1 year
Maximum Loan Term30 years
Maximum LVR70%
Maximum Insured LVR70%
Mortgage Offset AccountNo
Loan Redraw FacilityYes
Fixed Interest OptionNo
Loan PortableNo
Suitable for InvestmentNo
Extra RepaymentYes
Available as equity loan/line of creditNo
Repayment TypePrincipal & Interest
Application Fee$0
Lender's Legal Fee$330
Valuation Fee$0
Ongoing Fees$0 p.a.
Discharge Fee$400

Pros

  • $0 application fee
  • $0 ongoing fees
  • Flexible repayment options

Cons

  • No offset account
  • $400 discharge fee
  • Low maximum Loan-to-Value Ratio

Details to consider about the Yellow Brick Road Rate Smasher Home Loan.

This loan is suitable for owner occupiers looking to purchase or refinance. It is not available for construction or investment purposes. There is a maximum loan-to-value ratio (LVR) of 70%, which means you will need 30% deposit. There is no guarantee option.

Features of the Yellow Brick Road Rate Smasher Home Loan.

  • Maximum loan amount. You can borrow up to $750,000 with this loan and a minimum of $100,000.
  • Loan term. You can have your loan changed from the standard 30 years after settlement with approval from your Yellow Brick Road adviser.
  • Loan-to-value ratio. This loan is only available for those looking to borrow no more than 70% of the property value.
  • Repayment flexibility. Yellow Brick Road offers flexible payment options, and payments can be made via Direct Debit or Salary Credit. You can also make unlimited additional repayments with no fees, and redraw facilities are available on variable rate accounts.
  • Account access. You can have 24/7 access to your loan online or over the phone.
  • Fees. This loan has no ongoing monthly or annual account management fees.
  • Option to switch. Borrowers have the option to switch to a fixed rate loan from the Empower Range.

Fees

  • Application fee: $0.
  • Ongoing fees: $0.
  • Valuation fee: $0 for single properties.
  • Documentation fee: $330 + GST
  • Mortgage discharge fee: $400

How to apply for the Yellow Brick Road Rate Smasher Home Loan.

Follow the secure link on this page to Yellow Brick Road's website and fill out their application form. You will need to provide personal details, contact information, the purpose of your loan and your approximate gross annual household income. A Yellow Brick Road wealth manager will get in contact and set up an appointment with you.

Eligibility criteria

To be eligible for the Rate Smasher home loan you need to meet the following criteria:

  • The purpose of the loan is for purchase or refinance of an owner-occupied property
  • PAYG applicants need a minimum employment term of 12 months
  • Self-employed applicants need a minimum employment term of two years

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Yellow Brick Road Rate Smasher Home Loan Interest Rate History vs RBA Cash Rate Graph


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This page was last modified on 7 October 2016 at 10:30.

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6 Responses to Yellow Brick Road Rate Smasher Home Loan

  1. Default Gravatar
    BR | February 8, 2016

    Hi, I need to borrow $240,000 to buy a home, with a deposit of $170,000, I have equity in my home of $850,000.

    • Staff
      Marc | February 9, 2016

      Hi BR,
      thanks for the question.

      I would recommend contacting Yellow Brick Road directly regarding your situation to discuss your options.

      Cheers,
      Marc.

  2. Default Gravatar
    Katherine | March 30, 2015

    I am looking to refinance after separating ….I am currently on Centrelink payments along with starting a small business…. could I be eligible for a loan, if not would you look at an option of using a guarantor as security?

    • Staff
      Shirley | March 31, 2015

      Hi Katherine,

      Thanks for your question.

      Please note that finder.com.au is an online comparison service and does not represent Yellow Brick Road.

      If you would like to discuss your eligibility or options, please get in touch with Yellow Brick Road directly.

      If Centrelink is your sole source of income, you may find that your options are somewhat limited. You may be able to use a guarantor for your loan.

      Cheers,
      Shirley

  3. Default Gravatar
    rix | September 30, 2014

    if i have $100,000 after a payout of my home loan and i want to build a house in Gosnells WA. I earn $60,000 full time job government and part time 5,000 government job per annum. I am separated and currently receive $1,500 per month for the children.

    • Staff
      Shirley | October 1, 2014

      Hi Rix,

      Thanks for your question.

      If you’re interested in this loan, please click on ‘go to site’ to submit an enquiry with YBR. Unfortunately we can’t assess your eligibility as don’t handle the application process.

      If you decide to apply for a product or service through our website you will be dealing directly with the provider of that product or service and not with us.

      Cheers,
      Shirley

Yellow Brick Road Rate Smasher Home Loan

  • Interest Rate

    3.68% p.a.

  • Comparison Rate

    3.68% p.a.

  • App Fee / Annual Service Fee

    $0 / $0

  • Max LVR

    70%

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