More Details

Loan Details

 

Lender
https://www.erates.com.au/wp-content/uploads/2019/02/Bank-of-Melbourne.png
Comparison Rate
5.04
Name
Basic Home Loan Promotional Rate 60% - 80% LVR Investment IO
Lender
Bank of Melbourne
Product Name
Basic Home Loan IO
Product Details
New lending only (excludes internal refinances and switches within St.George, Bank of Melbourne and BankSA). Interest only repayments - max 80% LVR (inc LMI). Max I/O term 5 yrs for O/O, 10 yrs for Investment. Normal max LVR policy applies for Industry Specialisation and Medico Sector applications. Family Pledge Option available on this product.
Variable Rate
5.03
Fixed Rate
Fixed Period
Introductory Discount Rate
Discount Period
Application Fees
500
Discharge Fees
350
Ongoing Fees
0
Valuation Fees
0
Lenders Legal Fees
0
Lenders Settlement Fees
100
Minimum Loan Amount
150000
Max Loan Amount
2000000
Owner Occupied
N
Investment
Y
Repayment Option
Interest Only
ACT
N
NSW
N
TAS
N
QLD
N
VIC
Y
SA
N
WA
N
NT
N
Standard Variable
N
Fixed
N
Interest In Advance
N
Reverse Mortgage
N
Basic
Y
No Doc
N
Low Doc
N
Equity
N
Intro
N
Credit Impaired
N
Professional Pack
N
Minimum Loan Term (years)
4
Max Loan Term (years)
30
Rate Details
Basic Home Loan Promotional Discounted Variable Rate 0.85% off the Basic Home Loan Rate (already included)
Fee Details
Internet Banking
Y
Mortgage Offset Available
N
Redraw Details
Redraw fee: $50 in branch / free online
Redraw Facility
Y
Construction
N
Can Make Extra Repayments
Y
Repayments Fortnightly
N
Repayments Monthly
Y
Repayments Weekly
N
Salary Direct Available
N
Portability
Y
Split Available
Y
Split Details
Up to 4 splits avail. Can only be split after settlement