The details shown below are for an owner occupier taking out a principal & interest loan of at least $100,000 with an LVR below 70%
The details shown below are for an investor taking out a principal & interest loan of at least $100,000 with an LVR below 70%
The details shown below are for an investor taking out a interest only loan of at least $100,000 with an LVR below 70%
Choose the version of this loan that suits you best
| Availability | Loan type | LVR | Min loan amount | Max loan amount | |
|---|---|---|---|---|---|
| | Owner Occupier | Principal & Interest | < 70% | $100,000 | |
| | Investor | Principal & Interest | < 70% | $100,000 | |
| | Investor | Interest Only | < 70% | $100,000 |
Owner Occupier (Principal & Interest)
LVR < 70%
Loan: $100,000
Investor (Principal & Interest)
LVR < 70%
Loan: $100,000
Investor (Interest Only)
LVR < 70%
Loan: $100,000
With competitive variable interest rates from 2.09% (2.14% comparison rate*) and a number of useful features, the Bank of Sydney's BOSBasic Home Loan could be a hit with owner occupiers or investors. There are a few fees to budget for though, and because of the maximum LVR threshold of 70%, it's unlikely to be a suitable option for many first home buyers.
First things first, the BOSBasic Home Loan from Bank of Sydney is available to both owner occupiers and investors, but each iteration of the loan comes with a maximum loan-to-value ratio (LVR) of 70% which means borrowers will either need a large deposit or some built up equity if they're looking to refinance.
Variable interest rates start at a relatively competitive 2.09% (2.14% comparison rate*) for owner occupiers making principal and interest repayments, or 3.20% (3.25% comparison rate*) for investors.
There are also plenty of features attached to the loan. Along with the option to make free extra repayments and use a free redraw facility ($2,000 minimum redraw applies), borrowers take a repayment holiday and even split their loan between fixed and variable rates. However, there's no offset account available, and repayments can only be made on a monthly basis.
There are also a few upfront fees to factor in, including a $600 application fee and a $150 settlement fee. Legal and valuation fees are also payable at cost, but the good news is that Bank of Sydney will cover up to $475 in legal fees and up to $420 in valuation fees. There's also no ongoing service fee to worry about.
If you're looking for a home loan that comes with most of the bells and whistles in the way of features, plus a competitive variable rate, the BOSBasic should definitely pique your interest.
There are a few conditions for this one. To be able to apply, you’ll need to show you’ve been working at the same job for at least a year. Beyond that, the property itself will have to be an existing residential property situated in a metro postcode, and unfortunately the BOSBasic isn’t available for homes in NT, WA and TAS. Properties in Queensland will face some restrictions too.
| 2.09% p.a. | |
| n/a | |
| n/a | |
| n/a | |
| 2.14% p.a. | |
| n/a | |
| n/a | |
| n/a | |
| n/a | |
| n/a | |
| n/a | |
| n/a | |
| n/a |
| $600.00 | |
| $0.00 | |
| $0.00 | |
| $150.00 | |
| n/a | |
| $0.00 | |
| $300.00 |
| $100,000 | |
| none | |
| none | |
| 70.00% |
| Owner Occupier | |
| Principal & Interest | |
| Monthly | |
| yes - free | |
| yes | |
| yes - free | |
| $2,000.00 | |
| yes | |
| no | |
| Valuation & legal fees payable at cost. Up to $475 in legal fees and up to $420 in valuation fees covered by Bank of Sydney. Existing residential dwellings in metro postcodes only. | |
| none | |
| none |
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
| 3.20% p.a. | |
| n/a | |
| n/a | |
| n/a | |
| 3.25% p.a. | |
| n/a | |
| n/a | |
| n/a | |
| n/a | |
| n/a | |
| n/a | |
| n/a | |
| n/a |
| $600.00 | |
| $0.00 | |
| $0.00 | |
| $150.00 | |
| n/a | |
| $0.00 | |
| $300.00 |
| $100,000 | |
| none | |
| none | |
| 70.00% |
| Investor | |
| Principal & Interest | |
| Monthly | |
| yes - free | |
| yes | |
| yes - free | |
| $2,000.00 | |
| yes | |
| no | |
| Valuation & legal fees payable at cost. Up to $475 in legal fees and up to $420 in valuation fees covered by Bank of Sydney. Existing residential dwellings in metro postcodes only. | |
| none | |
| none |
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
| 3.40% p.a. | |
| n/a | |
| n/a | |
| n/a | |
| 3.45% p.a. | |
| n/a | |
| n/a | |
| n/a | |
| n/a | |
| n/a | |
| n/a | |
| n/a | |
| n/a |
| $600.00 | |
| $0.00 | |
| $0.00 | |
| $150.00 | |
| n/a | |
| $0.00 | |
| $300.00 |
| $100,000 | |
| none | |
| none | |
| 70.00% |
| Investor | |
| Interest Only | |
| Monthly | |
| yes - free | |
| yes | |
| yes - free | |
| $2,000.00 | |
| yes | |
| no | |
| Valuation & legal fees payable at cost. Up to $475 in legal fees and up to $420 in valuation fees covered by Bank of Sydney. Existing residential dwellings in metro postcodes only. | |
| none | |
| none |
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
Newcastle Permanent
Fixed Rate Home Loan (Premium Plus Package)
2.19% p.a.
fixed 3 years
3.61% p.a.
loans.com.au
Smart Booster Home Loan
1.85% p.a.variable for 24 months and then 2.25% p.a. variable
2.21% p.a.
Newcastle Permanent
Fixed Rate Home Loan (Premium Plus Package)
2.19% p.a.
fixed 3 years
3.61% p.a.
Newcastle Permanent
Fixed Rate Home Loan (Premium Plus Package)
2.19% p.a.
fixed 3 years
3.61% p.a.
loans.com.au
Smart Booster Home Loan
1.85% p.a.variable for 24 months and then 2.25% p.a.
2.21% p.a.
$0.00
Bank of Queensland
Economy
1.98% p.a.
2.15% p.a.
$10.00 monthly
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
