SmartFit Variable SmartFit Variable LVR <90% (Owner Occupied)

  • 3.99%
    p.a Standard Variable
  • 4.08%
    p.a Comparison**
  • $495
    Upfront fees
  • $180
    Annual fees
  • 90%
    Max Lvr
  • $1,860
    Per Month*

About Adelaide Bank

Adelaide Bank focus on strong customer relationships, user-friendly products and fast service. As unique mortgage brokers, they offer a more personalised approach, reliability and direct access their decision makers. Their range of home loan products present a streamlined approach to home lending which appeals to a broad range of customers, boasting on providing great all-round value to their current and new customers.

Standard Variable

Repayments calculated to take into account ongoing monthly and anual fees.

Monthly repayment*
$1,860
rate per annum
3.99%

Loan to Value Ratio

Borrow up to the maxium of 90% of the value of the property.

Lenders Mortgage Insurance, or LMI, will be payable on most loans where the borrowings are greater than 80% of the value of the property.

However, you may be able to capitalise LMI into your loan, increasing the overall loan amount by about 2% (in order to cover the cost of the insurance). Contact a loan market broker to find out how LVR and LMI might impact the cost of your loan repayments.

Lvr
90%
Capitalise LMI
Yes

Availability

For ["Bridging", "Equity", "Owner Occupied"], in ["NSW", "NT", "QLD", "SA", "WA", "VIC", "TAS", "ACT"].

Term
5 - 30 years
Min
$10,000
Max
$5,000,000

Eligibility

The level of financial documentaion and credit history required to apply for the loan.

Financials
Full Doc
Credit History
Conforming
Genuine Saving
Required

Redraw Facility

Get quick access to cash by drawing on the loan to pay for renovations or other purchases.

Redraw Facility
Yes
Min Redraw
$500.0
Redraw fee
$0

Banking Features

Given the wide range of loans on offer – with different interest rates, product features and fees – it pays to shop around to find the loan that fits your needs and circumstances. Some loans offer features that may be appropriate for your situation and result in savings over the life of the loan.

Some features you may wish to consider include:

  • an offset account;
  • ability to make extra repayments;
  • a redraw facility; and
  • linked credit card and savings accounts;
  • ability to split your loan between fixed and variable interest rates
Offset Account
Yes
Redraw Available
Yes
Credit Card
No
Internet Banking
Yes
Telephone Banking
Yes
BPay Option
Yes
Portability of Loan
Yes
Professional Pack
No
Check Account
No
Direct Salary Credit
Yes
Free Transactions
Yes
Minimum Redraw
Yes
Redraw Fee
No

Repayments

You can make your repaments Fortnightly, Monthly, and Weekly.

Interest Only Option
Yes
Max Interest Only
7 years

Upfront Fees

Upfront fess associated with estabilishing the loan. Other loan set-up fees, such as valuation fees and lender's mortgage insurance, and Government charges, such as registration fees and stamp duty on property transfer, have not been included. These will be determined after application.

Total
$495
Application
$375
Settlement
$120

Ongoing Fees

Monthly and annual fees and charges during the loan period.

Total
$180
Ongoing Monthly
$15

Exit Fees

Fees associated with prematurely ending the loan.

Total
$325
Exit
$325
Early Repayment
$0
Switch To Fixed
$0

Notes

The SmartSuite Home Loan is designed to provide a streamlined approach to home lending that will appeal to a broad range of customers. Both SmartFit and SmartFix offer a fully featured home loan with all the benefits of a 100% offset account, which allows the customer to see at a glance what their offset balance and loan balance is on their statement. Standard residential loan purposes such as: - Purchase or refinance of an owner-occupied or investment property - Debt consolidation - Equity loans for investment or personal purposes Go-Between Application restrictions: - No construction - No land - No company applicants - No trust applicants - No overseas applicants - No non-permanent Australian resident applicants - No applicants who have been self employed for less than 2 years. Repayments: Monthly repayments (irrespective of any additional repayments) must be made prior to or on the anniversary date of settlement. More frequent payments are permitted (weekly/fortnightly). Monthly repayments must be debited from the offset balance. Monthly Statement available. Principal and Interest: Principal and interest repayments are required during full term of the loan. Note: Standard scheduled repayments are required regardless of the offset benefit. Interest Only: LVR <90% Only Select up to 10 years interest only, converting to principal & interest for the remainder of the loan term. At the end of the initial interest only period a further

LVR Notes

LMI is required on loans with >80% LVR. 90% maximum LVR (including LMI)

Notes

Genuine savings of 5% is required over a 3 month period on a Full Doc loan if the LVR is over 80%. Under 80% no genuine savings required.

Fee Notes

Loan Variation Fee: $200 (refer to fees for further detail); Split Loan Fee: $100 per split; Search Processing Fee: $50 per search. Additional documentation fee $200 (consolidation of the additional security documentation fee and; company trust fee); Manual Redraw Fee: $0; Additional $200 app fee and end debt fees apply for Go-Between loans. Additional fees are payable if more than one security property.

*Monthly Repayments

Monthly repayments are calculated to take into account the loan amount, repayment term and ongoing fees and charges over the life of the loan.

  • Variable rate loans show the monthly repayments at the current rate.
  • Fixed rate loans show the monthly repayment during the fixed period only.
  • Monthly repayment calculations are an approximate guide only. Speak to a LoanMarket Mortgage broker to understand the exact cost of a loan given your particular circumstances.

**Comparison Rates

A comparison rate is a tool to help consumers identify the true cost of a loan. It factors in the interest rate, loan amount, repayment term and ongoing fees and charges and displays this as a single percentage rate that can be used to compare various loans from different lenders.

Monthly Repayment and Comparison Rate* calculations do not include:

  • The use of account features such as early repayments and offset accounts which vary widely among loans and can reduce the cost of a loan significantly.
  • Cost savings such as fee waivers or special rate discounts.
  • Fees and charges associated with loan options or events that may or may not be used by the borrower, such as early repayment or redraw fees
  • Lenders Mortgage Insurance (LMI) which may be required to secure the loan and can increase the cost of the loan.
  • Government charges such as stamp duty or mortgage registration fees.
  • Fees and charges which aren’t available at the time the comparison rate is provided