This table is in variable rate order and shows some of the residential mortgage products currently available for a $300,000 loan. Initial set up fees, maximum loan-to-valuation ratios (LVRs) and 3 year fixed rates are also shown.
Loans below 6.50% pa are very competitive:
Lender | Loan |
Variable
% |
$ Setup Fee |
LVR |
3 Year
Fixed % |
PLAN Lending/nab | Low Rate <75% | 6.25 | nil | 75 | 5.88** |
Suncorp | Money Manager<80% | 6.30 | nil | 80 | 5.99 |
PLAN Lending/nab | Low Rate 75-90% | 6.35 | nil | 90+LMI | 5.98 |
PLAN Lending/nab | Performance Plus<75% | 6.35 | nil | 75 | 5.98 |
Aust First Mortgage | Complete ProPack<75% | 6.35 | 275 | 75 | 6.69 |
Bankwest | Premium Select<75% | 6.35 | nil | 75 | 6.29 |
Homeside/nab | HomePlus<75% | 6.35 | nil | 75 | 6.24 |
Heritage Bldg Soc | Discount Variable | 6.35 | 600 | 95 | 5.95 |
Police&Nurses C U | Easy Pay Plus<75% | 6.39 | 692 | 75 | 6.20 |
Macquarie | Classic<80% | 6.39 | nil | 80 | 5.99 |
ANZ | Breakfree<80% | 6.40 | nil | 80 | 6.14 |
Bankwest | Super Start 3 year | 6.40 | nil | 95+LMI | 6.29 |
CBA | MAV Variable<80% | 6.41 | 150 | 80 | 6.33 |
Adelaide Bank | Variable SmartSaver | 6.44 | 495 | 95+LMI | 6.49 |
Bankwest | Premium Select >75% | 6.45 | nil | 95+LMI | 6.29 |
PLAN Lending/nab | Performance Plus 75-90% | 6.45 | nil | 90+LMI | 6.08 |
Aust First Mortgage | Complete ProPack | 6.45 | 275 | 90+LMI | 6.69 |
Citibank | Basic <70% | 6.45 | 600 | 70 | 5.94 |
Homeside/nab | HomePlus 75-90% | 6.45 | 162 | 90+LMI | 6.24 |
ANZ | Breakfree>80% | 6.45 | nil | 92 | 6.14 |
ING | Simplifier Smartpack | 6.46 | 719 | 95+LMI | 5.99 |
CBA | MAV Variable 80-90% | 6.46 | 150 | 90+LMI | 6.33 |
AMP | Variable Propack | 6.47 | 295 | 90+LMI | 5.99 |
Macquarie | Classic >80% | 6.49 | nil | 90 | 5.99 |
CBA | 3 year Rate Saver | 6.49 | 750 | 95+LMI | 6.48 |
Police&Nurses C U | Dream Home Loan | 6.49 | 1342 | 95+LMI | 6.20 |
Rock Bldg Soc | Rock Star Special | 6.49 | 200 | 90+LMI | 6.19 |
——————————————————————————————————————————————————- | |||||
ANZ |
Simplicity Plus Special | 6.50 | 600 | 92 | 6.29 |
Bank of Melbourne | Advantage | 6.50 | 100 | 95+LMI | 6.24 |
AMP | Basic Spring Special | 6.52 | 545 | 90+LMI | 5.99 |
Citibank | Basic | 6.52 | 649 | 80 | 5.94 |
Heritage Bldg Soc | Basic | 6.53 | 600 | 95 | 5.95 |
Police&Nurses C U | Easy Pay Plus | 6.54 | 692 | 95+LMI | 6.20 |
Adelaide Bank | Variable SmartFit | 6.54 | 495 | 95+LMI | 6.49 |
Aust First Mortgage | Complete Variable | 6.80 | 275 | 90+LMI | 6.77 |
CBA | MAV Variable>90% | 6.56 | 150 | 95+LMI | 6.33 |
Bank of Melbourne | Basic | 6.57 | 600 | 95+LMI | 6.39 |
ANZ | Simplicity Plus | 6.60 | 600 | 92 | 6.29 |
Suncorp | Back to Basics | 6.60 | nil | 95+LMI | 5.99 |
Bankwest | Premium | 6.60 | nil | 95+LMI | 6.29 |
Homeside/nab | HomePlus | 6.60 | 162 | 95 | 6.24 |
CBA | No Fee | 6.61 | nil | 95+LMI | 6.48 |
ING | Simplifier | 6.62 | 220 | 95+LMI | 5.99 |
PLAN Lending/nab | Performance Plus>90% | 6.63 | nil | 95+LMI | 6.26 |
Phoenix Circle C U | Standard | 6.65 | 600 | 95 | – |
Westpac | Flexi First | 6.66 | 600 | 95+LMI | 6.39 |
Westpac | Rocket | 6.66 | nil | 95+LMI | 6.19 |
Citibank | Basic>80% | 6.66 | 649 | 85 | 5.94 |
Notes * | * PLAN Lending currently offers 5.73% fixed for 3 years if a loan is split 50/50 fixed/variable <75% LVR |
: | maximum LVR is 95% for purchases and 90% for refinances |
: | +LMI indicates lenders willing to add the Lender’s Mortgage Insurance premium to the base loan |
: | “low doc” loans are available up to 80% of value, but at higher rates than the “full doc” rates shown above |
: | monthly / Professional Package fees may also apply on some loans |
Barry LeBrocq
Melbourne Mortgage Finance
Patterson Lakes, VIC 3197
Mob 0437417042
Web www.melbournemortgagefinance.com.au
Disclaimer: The above information is intended as general information only and does not address specific personal situations. Loan products, interest rates and fees change frequently without notice. Please call Melbourne Mortgage Finance to verify details and discuss your specific needs and loan eligibility.