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Hunter United Interest Only Home Loan

Advertiser disclosure

The details shown below are for an owner occupier taking out a interest only loan of at least $300,000 with an LVR below 80%

The details shown below are for an investor taking out a interest only loan of at least $300,000 with an LVR below 80%

Choose the version of this loan that suits you best

  • Owner Occupier (Interest Only)

    LVR < 80%

    Loan: $300,000

  • Investor (Interest Only)

    LVR < 80%

    Loan: $300,000

Rate
3.49% p.a.
Comparison Rate
3.49% p.a.
Service fee
$0.00
Upfront fee
$0
Rate
3.69% p.a.
Comparison Rate
3.69% p.a.
Service fee
$0.00
Upfront fee
$0

Mozo editorial review Hunter United Interest Only Home Loan

Last updated: 4 December 2020.

binocular icon
What's hot
  • No ongoing fees
  • Unlimited free extra repayments
  • First redraw per month is free
What's not
  • $250 minimum redraw
Mozo snapshot

The Hunter United Interest Only Home Loan offers interest-only, owner-occupier variable rates from 3.49% (3.49% variable rate*) for up to two years on loans of at least $300,000. There are very few fees and the loan comes with the option to make unlimited extra repayments, as well as a redraw facility and a repayment holiday feature.

key icon
Key features

The Hunter United Interest Only Home Loan allows owner occupiers to pay off the interest on their loans for terms of up to two years at a variable rate of 3.49% (3.49% variable rate*). For investors, this interest-only period is extended to five years, though the rate is a slightly higher 3.69% (3.69% comparison rate*). 

As a new borrower taking out a loan of $300,000 or more you won’t have to pay any ongoing, application or valuation fees, though there is an $80 discharge fee and any legal fees will be charged at cost.

As for features, extra repayments can be made at no extra cost to you, and you’ll also be able to take a repayment holiday if your financial circumstances change and you need to ease the burden a bit. The loan also comes with a redraw facility, but only your first redraw of the month is free (minimum redraw of $250). 

Repayments can be made on a weekly, fortnightly or monthly basis and you can easily set up auto-payments to make sure you don’t fall behind.

snapshot
Who is it good for

The Hunter United Interest Only Home Loan could be a good option for property investors  or owner occupiers looking to keep the cost of their monthly repayments low for a few years with the help of interest-only repayments.

question icon
Any catches

While this loan does come with a redraw facility, there is a minimum redraw of $250 and only the first redraw of the month is free. It's also worth bearing in mind that borrowers will need to refinance to another loan at end of interest-only period.

Details

Rates and fees information correct as at 24 January 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 3.49% p.a.

  • n/a

  • n/a

  • n/a

  • 3.49% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • n/a

  • $0.00

  • $80.00

Other financial bits
  • $300,000

  • none

  • none

  • 80.00%

Features
  • Owner Occupier

  • Interest Only

  • Weekly, Fortnightly, Monthly

  • yes

  • yes

  • yes - 1st redraw per month free

  • $250.00

  • yes

  • no

  • Legal fee is charged at cost. 2 year variable rate IO repayments term, loan must be refinanced to another loan product at end of period.

  • 1 free redraw a month

  • 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.

Details

Rates and fees information correct as at 24 January 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 3.69% p.a.

  • n/a

  • n/a

  • n/a

  • 3.69% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • n/a

  • $0.00

  • $80.00

Other financial bits
  • $300,000

  • none

  • none

  • 80.00%

Features
  • Investor

  • Interest Only

  • Weekly, Fortnightly, Monthly

  • yes

  • yes

  • yes - 1st redraw per month free

  • $250.00

  • yes

  • no

  • Legal fee is charged at cost. 5 year variable rate IO repayments term, loan must be refinanced to another loan product at end of period.

  • 1 free redraw a month

  • 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.

Customer Reviews

How are Hunter United home loans rated by the Mozo community?

Overall
8.1/10
Price
9.1/10
Features
8.9/10
Customer service
8.6/10
Convenience
7.9/10
Trust
8.1/10
Thumbnail icon for Hunter United

About Hunter United

Hunter United is a community based financial institution that serves the Hunter Valley region. Hunter United is a conservative and responsible lender that specialises in providing valued financial services to its customers. The financial services that Hunter United offers include savings, loans, credit cards and investment products. Hunter United offers competitive rates to both borrowers and lenders within its banking, insurance and superannuation services.

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