With a low, low 1-year fixed rate of just 1.98% (2.41% comparison rate*) and a competitive revert rate, borrowers will struggle to find a more attractive deal to reduce their mortgage repayments than the Star Classic Fixed Home Loan from Homestar.
There’s no other place to start than with the interest rate because the Star Classic Fixed Home Loan really does offer one of the lowest fixed rates around.
Owner-occupier borrowers with an LVR below 80% will be able to grab a 1-year fixed rate of just 1.98% (2.41% comparison rate*) on loans between $150,000 and $850,000.
While that’s obviously an eye-catching rate, the revert rate (the one you’ll get after the fixed period ends) is still a super competitive 2.39% (2.42% comparison rate*) available with the Star Classic Variable Home Loan.
Homestar customers will be able to take advantage of a few handy features as well, including the ability to make free extra repayments towards the loan (capped at $20k p.a.) and to redraw those additional payments down the track with an online redraw facility.
There are some fees borrowers will need to budget for though, including a $495 application fee and $535 discharge fee (but Homestar will waive this if the loan ends up going to full term). On the plus side, there's no ongoing service fee to worry about.
Just bear in mind that this is a limited time offer, so if you’re interested, you’ll need to act fast! You'll need to apply by 31 October 2020 and have the loan settled by 31 January 2021 in order to qualify.
With one of the sharpest 1-year fixed rates around and a very reasonable revert rate, the Star Classic Fixed Home Loan from online lender Homestar could be a great option for any owner- occupier borrowers looking to keep their repayments to a minimum.
The Star Classic Fixed Home Loan is only available to properties located in metro areas.
n/a
n/a
n/a
n/a
1.98% (2.41%*)
n/a
2.06% (2.38%*)
n/a
n/a
n/a
n/a
2.39% p.a.
$495.00
$0.00
$0.00
$0.00
n/a
$0.00
$535.00
$150,000
$850,000
none
80.00%
Weekly, Fortnightly, Monthly
yes - free up to $20,000 p.a.
no
yes - free
$0.00
yes
no
Metro areas only. Loan applications must be received by 31 October 2020 and settled by 31 January 2021.
$535 discharge fee waived if the loan goes to full term.
none
Homestar is a Sydney and Melbourne based company that offers home loans Australia wide, due to Homestar being a web and phone based non-bank lender that works to save you money. Homestar has been providing low rates on its home loans since 2004.
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