Variable Plus Home Loan F485D 80% 85% Variable Plus Home Loan - F485D - 80% - 85% - (Principal & Interest) (Owner Occupied)

  • 4.06%
    p.a Standard Variable
  • 4.22%
    p.a Comparison**
  • $919
    Upfront fees
  • $345
    Annual fees
  • 85%
    Max LVR
  • $1,888
    Per Month*

About Better Choice Home Loans

Better Choice is a mortgage manager that offers a large scope of home loan and commercial loan alternatives. Through our Accredited Introducer system and a constantly developing database of existing clients, we connect brokers and purchasers across the nation to understand their common objectives.

Standard Variable

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

Monthly repayment*
$1,888
rate per annum
4.06%

Loan to Value Ratio

Borrow up to the maxium of 85% 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
85%
Capitalise LMI
Yes

Availability

For Equity and Owner Occupied in NSW, NT, QLD, SA, WA, VIC, TAS, and ACT.

Term
15 - 30 years
Min
$150,000
Max
$1,100,000

Eligibility

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

Financials
Full Doc
Credit History
Conforming
Genuine Saving
Not 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
$250.0
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
Internet Banking
Yes
Telephone Banking
Yes
Credit Card
No
BPay Option
Yes
Portability of Loan
Yes
Professional Pack
Yes
Check Account
No
Direct Salary Credit
Yes
Free Transactions
Yes
Minimum Redraw
Yes
Redraw Fee
Yes

Repayments

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

Interest Only Option
No
Max Interest Only
0 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
$919
Valuation
$286
Legal/Solicitor
$303
Settlement
$330

Ongoing Fees

Monthly and annual fees and charges during the loan period.

Total
$345
Ongoing Yearly
$345

Exit Fees

Fees associated with prematurely ending the loan.

Total
$1,198
Exit
$938
Early Repayment
$0
Switch To Fixed
$260

Notes

Standard variable loan available with 100% Offset Account.

LVR Notes

Max 85% includes Purchase & Refinance O/O. Also includes Debt Consolidation and Equity Release. Max 80% LVR for Interest Only loans

Notes

Not required

Fee Notes

NIL Application & Valuation Fee (First valuation is free, all additional valuations are at cost per security)

*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