The most important aspect of any home loan is arguably the interest rate, so you want to make sure you have a good one. At BIDeloan they've replaced commissions with fixed fees, which means you can access low, wholesale rates.
Rates start as low as 3.39% (3.76% comparison rate) but keep in mind this may change depending on your LVR, the kind of repayments you're making and whether you're an investor or not.
With this loan you’re able to borrow between $150,000 and $1,500,000, with a maximum LVR of 80%. BIDeloan also lets you choose between paying off your loan weekly, fortnightly or monthly.
Find yourself wanting to pay make some extra repayments, but worried about the fees? Well, don’t be, as you can make as many extra repayments as you want for free. You can redraw that money for no extra cost too.
If you’re looking to have part of your loan be a fixed rate and part of your loan be a variable rate, then you’ll be happy to find out this loan offers a split rate option. It also comes with an offset account if you want access to money, while lowering your interest amount.
Who it's good for:
The loan is good for investors and homeowners who want to utilise the range of features this loan offers to offset all the fees that it comes with. There's also the option to bundle your investment and owner-occupier loans together.
The BIDeloan SMARTeloan comes with a number of fees, which need to be considered before agreeing to this loan, including a $345 annual fee and a $1,499 application fee.