Homestar Advantage Loan
-
variable rate
6.63 % -
comparison rate
6.64%
-
ongoing fee
$0.00
-
upfront fee
$0
-
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Rates
- Variable rate
- 6.63%
- Intro rate
- none
- Intro rate term
- none
- Intro rate type
- none
- Comparison Rate*
- 6.64%
- Fixed 1 year rate
- none
- Fixed 2 year rate
- none
- Fixed 3 year rate
- none
- Fixed 4 year rate
- none
- Fixed 5 year rate
- none
- Fixed 7 year rate
- none
- Fixed 10 year rate
- none
- Fixed loan revert rate
- none
Fees
- Application fee
- $0.00
- Legal fee
- $0.00
- Valuation fee
- $0.00
- Settlement fee
- $0.00
- Other upfront fee (% of loan)
- none
- Service fee
- $0.00
- Exit fee
- $500
Features
- Repayment Frequency
- Weekly, Fortnightly, Monthly
- Extra repayments
- yes
- Repayment holidays
- none
- Redraw facility
- yes
- Minimum redraw amount
- $0.00
- Split account
- yes
- Offset account
- no
- Other restrictions
- none
- Other benefits
- none
Other financial bits
- Minimum loan amount
- $100,000
- Maximum loan amount
- $2,000,000
This is how the Mozo community has rated Homestar for home loans.
| Product Type | Overall | Price | Features | Service | Convenience | Trust |
|---|---|---|---|---|---|---|
| Overall | 6.4 | 7.0 | 6.6 | 5.8 | 3.8 | 5.4 |
| Homestar home loans | 6.4 5 REVIEWS | 7.0 | 6.6 | 5.8 | 3.8 | 5.4 |
Homestar
The HomeStar® group of companies were incorporated in 2004 and the business was formally launched in 2005. The business started with a newsagency based distribution model which has moved in-line with the global trends to be a web-based home lending specialist.
HomeStar is a non-bank lender, but uses secure bank funds to its customers through its unique personal service and fast turnaround proposition. Without the costs associated with banks like branches, exorbitant executive salaries and huge marketing spend they are able to save you money.
Some recent reviews of Homestar home loans
| Marc from New South Wales, a Homestar home loan customer. | 2Overall Rating | ||
Don't be fooled by their low, low interest rates advertised on their website for home loans.
Once you've signed up, after a few months they jack up the interest rates on their variable products to levels above their website advertised rates. This is apparently the honeymoon bait for new customers, so don't get caught!
Apparently there is fine print somewhere that says that, which I haven't been able to find yet.
You have been warned...
Reviewed 3 months ago
Homestar responded:Marc, like all lenders HomeStar’s rates are subject to the cost of its wholesale funds. Recently one of our wholesale lenders increased its rate to us by 0.05% for all existing customers. Unfortunately, we had no option but to pass this rate rise on to our clients. This is the first time we have had an ‘out-of-cycle’ (i.e. above the RBA) rate rise imposed on us in the history of our relationship with the lender. On this basis we hope and expect this is a one-off event. Most importantly, HomeStar did not profit from any of this rate rise – it was a cost imposed on us that we were obliged to pass on. |
|
| Clay from New South Wales, a Homestar home loan customer. | 8Overall Rating | ||
| Application process was straight-forward. Correspondence via email mostly. Post-application, banking is handled by ING Bank. Website is functional. There are free redraws, and you can use early repayment funds to pay bills by BPay, making it work almost similar to an offset account. Raises rates for existing customers by 0.05% greater than for new customers. Reviewed 5 months ago |
|
| Bruce from Queensland, a Homestar home loan customer. | 9Overall Rating | ||
| Good interest rate, good loan features, easy to deal with. Reviewed 6 months ago |
|
| Julian from New South Wales, a Homestar home loan customer. | 10Overall Rating | ||
| Great product and service - i would definitely recommend HomeStar Reviewed 6 months ago |
|
| A Mozo reviewer from Victoria, a Homestar home loan customer. | 3Overall Rating | ||
| Only use them for the low interest rate. Terrible customer service and no offset account. Reviewed about 1 year ago |
|
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