Apply Obligation Free
- Low 6.28% p.a.
- Bonus Rate Cut
- 100% Offset Account
- FREE online Redraw
With an incredibly low 6.28% 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 TV
The Bank Beater Home Loan has been featured on TV as one of the lowest variable rate home loans in the country on programs including:
Plus, the Bank Beater Home Loan was awarded a Highly Commended honour as a finalist for the Financial Review Smart Investor Blue Ribbon Awards 2011 for Variable Rate Home Loan.
| Bank Beater Home Loan – Key Features: | |
|---|---|
| Interest Rate: | 6.28% p.a. for 5yrs then 6.23%2 p.a. | 6.56% p.a.* comparison |
| Bonus Rate Cut: | 0.05% p.a. rate cut applied after 5 years |
| How much can I borrow? | Up to 90% of the property value |
| Online Redraw: |  FREE |
| 100% Offset Account: | |
| Line of Credit Option: | |
| Online Banking: | |
| Phone Banking: | |
| Interest Only Option: | 1 – 10 years |
| Dynamic Repayments: | Available for variable P & I only |
| Direct Debits / Credits: | |
| BPay: | |
| Internal Portion Transfer: | |
| Inward Deposit Book Payments: | |
| Outward Cheques (with Line of Credit split): | |
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
| Bank Beater 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 |
| Loan Term: | 15 – 30 years |
| Available For: | Owner-Occupied Property (purchase of home) | Investment Property |
| 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) |
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
Set Up Costs Are On The House!
Apply for a Bank Beater 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%. |
| Title Insurance Fees: | from $132 (for loans under $600,000); higher for larger amounts |
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’ve Been Financing The Australian Dream Since 1989
The care and service you’ll get as an Illawarra Home Loans customer is backed by over 20 years experience from directors David Underhill and Martin Anstee who have been helping people in the Illawarra and beyond with their finances since 1989.
We’re Backed By The RMBS Program
lllawarra home loans funding is supported by the Australian Government $16 billion RMBS program which gives us the flexibility of the big blokes with the care, experience and attention that you deserve.
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 rate 6.56% p.a. 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. ^ Rate drop after 5 years is 0.05% p.a., rate advertised is based on today’s rates. ~Set up costs refer to the application fee, valuation fee and lenders basic legals. Whilst every attempt has been made to ensure the accuracy of the contents, Illawarra Home Loans Pty Limited will not be liable for any loss or damage arising from conclusions derived through the use of such information. The above information is a guide only. Any loan application made is subject to formal consideration at the discretion of the lender and Lenders Mortgage Insurer and no approval is implied from the above information. Fees, terms and conditions apply. Correct as at 17 Feb 2012.
