Variable Rate Loan Variable Rate Loan $200-$499k LVR 90%> (Principal & Interest) (Owner Occupied)

  • 4.28%
    p.a Standard Variable
  • 4.34%
    p.a Comparison**
  • $250
    Upfront fees
  • $120
    Annual fees
  • 95%
    Max Lvr
  • $1,912
    Per Month*

About Loan Market Go

With a Loan Market Go loan, get expert help from your Loan Market broker to select from a range of simple and easy to understand loans at highly competitive rates. You can feel secure knowing your loan is funded by Advantedge, part of the National Australia Bank Group.

Standard Variable

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

Monthly repayment*
$1,912
rate per annum
4.28%

Loan to Value Ratio

Borrow up to the maxium of 95% 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
95%
Capitalise LMI
Yes

Availability

For ["Construction", "Owner Occupied", "Vacant Land"], in ["NSW", "NT", "QLD", "SA", "WA", "VIC", "TAS", "ACT"].

Term
25 - 30 years
Min
$200,000
Max
$499,999

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
$100.0
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
No
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
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
$250
Establishment
$250

Ongoing Fees

Monthly and annual fees and charges during the loan period.

Total
$120
Ongoing Yearly
$120

Exit Fees

Fees associated with prematurely ending the loan.

Total
$295
Exit
$295
Early Repayment
$0
Switch To Fixed
$0

Notes

Please Note: For investment purposes where the LVR is above 85% the maximum interest only period is 5 years. Documentation Requirements: - Borrower declaration - A&L statement - Borrower Account Statements or, - Completed and signed Accountants declaration with covering letter. Revolving Loan Facility - the capacity to draw down on funding up to an approved credit limit Free account access via internet and phone. Combination with Performance Plus facility available. Unlimited free transactions with Debit Card access through any rediATM or NAB ATM and free cheque book facility. Repayments through Direct Salary Credit or bank account Direct Debit. Facility can be split up to four times (minimum $20,000 per split). Where LVR <=60% Limited $100,000. For refinance, cash out is limited to $50,000. To support the request, documentary evidence for use of funds must be provided. Where LVR >60% Cash out limit is subject to LMI Insurer restrictions. Lender may request supporting documentation as to use of funds.

LVR Notes

Base LVR of above 90% subject to loading of 0.15% and purpose must be purchase of established property for owner occupied only. LVR above 90% excludes investment purposes/refinance/vacant land/construction/debt consolidation/cash out/equity release/LOC/IO loans greater than 5 years. Max LVR 95% inclusive of LMI cap. Maximum loan amounts remain subject to LVR and Location Classification *For Genuine Savings Exception Option (GSXO), only available on lmiHOME™ and lmiINVEST™ applications which are Full Documentation Income Type, up to a Maximum Loan Amount of $800k and where the LVR for the loan is greater than 85.00%. Other eligibility criteria such as but not limited to Location Classifications also apply.

Notes

For loans above 85% LVR, genuine equity of at least 5% of purchase price must be evidenced for a minimum of three months and can comprise of: Bank savings; Term deposits; Shares; Existing equity in real estate. If LVR > 80% and First home buyer loans, at least 5% of purchase price must be provided from genuine savings.

Fee Notes

Split Fee $100 Other Fees $475: - $105 Title Insurance Fee - $250 Loan Processing Fee - $120 Re-documentation Fee where changes are made to a loan that require legal documents to be redone - At Cost for Settlement Agent Fees to cover settlement costs and Government charges

*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