Can’t decide whether you want to fix your home loan interest rate or keep it variable?
Obligation FREE Pre-approval $0 Set up costs~ Borrow up to 90% Save Thousands: With a rate that stays low for the life of the loanGet The Best Of Both Loans
For a limited time we have a special low fixed rate for people like you who want the security of repayments that remain stable, huge savings on interest by locking in a low rate but, also having the flexibility of hedging your bets with the Bank Beater variable rate and enjoying all of the Bank Beater features.
Up To 50% Fixed
Rates as low as 5.65% p.a.
Online Banking
Option to Rate Lock^ early to secure rate
50% + Variable
5.72% p.a. + Bonus Rate Cut after 5 years
FREE Online Redraw + 100% Offset
Featured on Sunrise (channel 7)
Key Features:
Bank Beater 50% Split Home Loan: Overview
The Bank Beater 50% Split gives you the best of both worlds with your home loan split into 50% Fixed and 50% variable.
| Bank Beater 50% Split Home Loan – General Features: | |
|---|---|
| Loan Amount: | $250,000 – $1,000,000 $1,000,000 – $4,000,000 option for multiple properties (different conditions and rates apply, contact us for more info) |
Purpose: | Purchase / Refinance / Debt Consolidation / Limited Cash Out / Investment / NRAS approved |
| How much can I borrow? | Up to 90% of the property value |
| Loan Term: | 15 – 30 years |
| Available For: | Owner-Occupied Property (purchase of home) | Investment Property |
| Online Banking: | |
| Phone Banking: | |
| Interest Only Option: | 1 – 10 years |
| Minimum Portion Amount: | $10,000 |
| Interest Payments: | Interest calculated daily and charged to the account monthly |
| Repayment Options: | Direct Debit, Salary Credit, Deposit Book (additional charges may apply). Dynamic Repayment is available (after any Interest Only period has expired). |
| Repayment Options: | Principal and Interest, Interest Only Frequency: Weekly, Fortnightly, Monthly |
| Repayment Frequency: | Weekly, Fortnightly, Monthly |
| Additional Statements: | Available upon request or online |
| Statement Frequency: | Usually end June and December however monthly if an access card is issued |
| Eligibility: | PAYG or Self Employed (with full documentation) |
Bank Beater Variable Features
With an incredibly low 5.72% p.a. variable rate, beaten down even further by 0.05% p.a. after 5 years, the Bank Beater Home Loan keeps your mortgage repayments low for the life of the loan.
Featured on Channel 7’s Sunrise and The Morning Show, our Bank Beater Home Loan was rated as one of the best variable rate home loans in the county on both programs.
The Bank Beater Home Loan was also awarded as Highly Commended as a finalist for the Financial Review Smart Investor Blue Ribbon Awards 2011 for Variable Rate Home Loan.
| Variable Rate Features: | |
|---|---|
| Interest Rate: | 5.72% p.a. for 5yrs then 5.67%2 p.a. | 6% p.a.* comparison rate |
| Bonus Rate Cut: | 0.05% p.a. rate cut applied after 5 years |
| Online Redraw: | FREE |
| 100% Offset Account: | |
| Line of Credit Option: | |
| Dynamic Repayments: | Available for variable P & I only |
| Direct Debits / Credits: | |
| BPay: | |
| Internal Portion Transfer: | |
| Inward Deposit Book Payments: | |
| Outward Cheques (if a Line of Credit split exists): | |
Request a Call Back
Apply For Pre-Approval
Bank Beater 50% Fixed Features
By fixing your interest rate now you can lock in a rate as low as 5.65% p.a. (for 1 year) and for the next 1-5 years it means that you know exactly how much your mortgage will cost and in these uncertain financial times you can take control of your money and create some stability for your family.
Take control and secure this limited offer rate before time runs out!
New! Rate Lock
Don’t risk waiting 6 weeks to lock in your fixed rate! Secure your fixed rate at sooner with our new rate lock feature. Find out more.
| Fixed Rate Features | |
|---|---|
| Fixed Interest Rates: | 1 year – 5.65% p.a. | Comparison Rate – 5.94%* p.a. 2 year – 5.67% p.a. | Comparison Rate – 5.94%* p.a. 3 year – 5.74% p.a. | Comparison Rate – 5.97%* p.a. 4 year – 5.93% p.a. | Comparison Rate – 6.04%* p.a. 5 year – 5.99% p.a. | Comparison Rate – 6.09%* p.a. |
| How much can I fix? | You can fix up to 50% of the loan on the special Bank Beater 50% Split rate |
| Fixed Rate Terms: | 1 – 5 years |
| Early Rate Lock Option: | see fees tab for cost |
| Reverts to Bank Beater Variable? | After the fixed period your rate will revert to the low interest Bank Beater Variable rate |
Have questions about fixed rates? Find out more.
Request a Call Back
Apply For Pre-Approval
Set Up Costs Are On The House!
Apply for a Bank Beater Fixed Home Loan and the set up costs are on the house saving you $935.00.
| Fees & Freebies | |
|---|---|
| Application Fee: | FREE |
| Valuation Fee: | FREE for loans that proceed to settlement |
| Lenders Basic Legal Fees: | FREE |
| Getting our Consultants to do your paperwork: | FREE |
| Annual Fee: | $345 |
| Lenders Mortgage Insurance: | Paid by the borrower when LVR is over 80%. Can be added to the loan above the max LVR of 90%. |
| Early Rate Lock Option: | This is an optional feature and costs $385 for loans <$300,000. For loans >$300,001 the cost is 0.15% x loan balance + 10% GST |
| Title Insurance Fees: | from $132 (for loans under $600,000); higher for larger amounts |
| Fixed Rate Break Costs: | Break costs may apply if loan is repaid during any fixed rate period |
Request a Call Back
Complete our short call back request form, select a time and day that suits you and a qualified home loan consultant will contact you to discuss your options.
Apply For Pre-Approval
Complete our simple 3 step online application
select a call back time and day that suits you
A qualified consultant will call you obligation free
We’ll Even Do Your Paperwork!
At Illawarra Home Loans we understand that your time is best spent looking for your dream property rather than wasting your time on mountains of paperwork. So why not let our Home Loan Experts do the paperwork for you?
Our Home Loan Experts have a talent for getting most of the information we need for your application from a casual chat so you have more time to find your dream home at a bargain price.
Request a Call Back
Complete our short call back request form, select a time and day that suits you and a qualified home loan consultant will contact you to discuss your options.
Apply For Pre-Approval
Complete our simple 3 step online application
select a call back time and day that suits you
A qualified consultant will call you obligation free
*Comparison rates for an amount of $150,000 over 25 years. Conditions fees and charges apply to all loans. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Fixed rate shown is only available for up to 50% of the loan and is subject to change until the loan is settled. **After your fixed term has expired the variable rate will revert to the Bank Beater Home Loan variable rate current at that time. 1Valuation fee will be charged if loan does not proceed to settlement. ^Rate Lock feature is an option feature of the fixed portion for a fee (as outlined in the fee table on this page) and allows you to lock in the fixed rate upon unconditional approval. ~Set up costs refer to the application fee, valuation fee and lenders basic legals. 2Rate cut of is applied to the variable rate after 5 years is 0.05% p.a., rate advertised is based on today’s rates and is correct as at 18 Oct 2012. Conditions apply.
