Line of Credit Home Loan Package up to Line of Credit Home Loan Package - (up to $749K) LVR 80% (Owner Occupied)

  • 4.09%
    p.a Standard Variable
  • 4.25%
    p.a Comparison**
  • $0
    Upfront fees
  • $398
    Annual fees
  • 80%
    Max Lvr
  • $1,898
    Per Month*

About Macquarie Bank

Macquarie Group is a leading provider of financial, advisory, investment and funds management services. Their global operations include offices in the world's major financial centres. Their breadth of expertise covers advisory and capital markets, trading and hedging, funds management, asset finance, financing, research and retail financial services. The diversity of Macquarie Group’s operations, combined with a strong capital position and robust risk management framework, has contributed to our 45-year record of unbroken profitability.

Standard Variable

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

Monthly repayment*
$1,898
rate per annum
4.09%

Loan to Value Ratio

Borrow up to the maxium of 80% 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
80%
Capitalise LMI
No

Availability

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

Term
1 - 30 years
Min
$150,000
Max
$749,999

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
$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
Yes
Internet Banking
Yes
Telephone Banking
Yes
BPay Option
Yes
Portability of Loan
Yes
Professional Pack
Yes
Check Account
Yes
Direct Salary Credit
Yes
Free Transactions
Yes
Minimum Redraw
No
Redraw Fee
No

Repayments

You can make your repaments Fortnightly and Monthly.

Interest Only Option
Yes
Max Interest Only
5 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
$0

Ongoing Fees

Monthly and annual fees and charges during the loan period.

Total
$398
Ongoing Yearly
$398

Exit Fees

Fees associated with prematurely ending the loan.

Total
$400
Exit
$400
Early Repayment
$0
Switch To Fixed
$0

Notes

To be eligible for the discount variable rate on Package loans, borrowers must apply for and activate their Macquarie Bank credit card as part of the Package. To retain the discount, borrowers must keep Macquarie Bank credit card open for the life of the loan. Terms, conditions and limitations apply to Package loans. For more information, refer to the Macquarie Package Terms and Conditions. Fee-free upfront valuations – Available for property loans up to $2 million The Line of Credit has been designed to help investors maximise access to equity and optimise their investment opportunities. This fully transactional product offers multiple accounts and interest capitalisation within a global facility. The global facility feature means that provided the total outstanding facility balance across all accounts remains below the total facility credit limit, individual account limits are only notional. Standard residential loan purposes apply such as: - Purchase or refinance an owner-occupied or investment property - Equity loans for investment or personal purposes Key Features: - Interest Capitalisation - Global Facility - Cash Card - Deposit card - Cheque Book - Maximum 10 loan splits after settlement (fees may apply) - Internet and phone access Package Benefits: As part of the package, borrowers are entitled to the following: - A discount on both the variable and fixed interest rates on the mortgage (provided the client retains their activated

LVR Notes

No LMI required. Maximum loan amount $5m at <=70%, $2,000,000 at 80% LVR, $850k at 90% LVR, $750k at 95% LVR (Only available for Owner Occupied, must be purchase and P&I only, not applicable for IO) - Max LVR 80% for all owner occupied interest only loans including line of credit

Notes

Evidence of savings required(minimum 5% where LVR is greater than 85%, minimum 10% for investment loans where LVR > 85%). A minimum deposit of 15 per cent required for loan amount greater than $2,000,000

Fee Notes

$110 Valuation update fee payable if original valuation was obtained 3 months or more before settlement $50 Manual Redraw / Advance Fee payable for overnight redraws. $60 General consent fee payable for loan conversions from IO to P& I or P& I to IO. Excludes any statutory costs. For optimum package 1 general consent fee associated with a variation is waived per year. Fees: The $363 Standard Documentation fee will be waived for all lodgements. If other costs are incurred relating to the docu

*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