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 Name||Yellow Brick Road Rate Smasher Home Loan|
|Interest Rate Type||Variable|
|Interest Rate (p.a.)||3.68%|
|Comp Rate^ (p.a.)||3.68%|
|Minimum Loan Amount||$100,000|
|Maximum Loan Amount||$750,000|
|Minimum Loan Term||1 year|
|Maximum Loan Term||30 years|
|Maximum Insured LVR||70%|
|Mortgage Offset Account||No|
|Loan Redraw Facility||Yes|
|Fixed Interest Option||No|
|Suitable for Investment||No|
|Available as equity loan/line of credit||No|
|Repayment Type||Principal & Interest|
|Lender's Legal Fee||$330|
|Ongoing Fees||$0 p.a.|
- $0 application fee
- $0 ongoing fees
- Flexible repayment options
- 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.
- 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.
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