Illawarra Home Loans Bank Beater Home Loan

The details shown below are for an owner occupier taking out a principal & interest loan between $250,000 and $1,000,000 with an LVR below 80%

The details shown below are for an owner occupier taking out a principal & interest loan between $250,000 and $1,000,000 with an LVR below 90%

The details shown below are for an owner occupier taking out a principal & interest loan between $250,000 and $1,000,000 with an LVR below 95%

The details shown below are for an investor taking out a principal & interest loan between $250,000 and $1,000,000 with an LVR below 80%

The details shown below are for an investor taking out a principal & interest loan between $250,000 and $1,000,000 with an LVR below 90%

The details shown below are for an investor taking out a principal & interest loan between $250,000 and $1,000,000 with an LVR below 95%

Choose the version of loan that suits you best

  • Owner Occupier (Principal & Interest)

    LVR < 80%

    Loan: $250,000 $1,000,000

  • Owner Occupier (Principal & Interest)

    LVR 80%-90%

    Loan: $250,000 $1,000,000

  • Owner Occupier (Principal & Interest)

    LVR 90%-95%

    Loan: $250,000 $1,000,000

  • Investor (Principal & Interest)

    LVR < 80%

    Loan: $250,000 $1,000,000

  • Investor (Principal & Interest)

    LVR 80%-90%

    Loan: $250,000 $1,000,000

  • Investor (Principal & Interest)

    LVR 90%-95%

    Loan: $250,000 $1,000,000

3.69% p.a.variable for 60 months and then 3.64% p.a.

4.04% p.a.

$345.00 yearly

Illawarra Home Loans Bank Beater Home Loan

3.69% p.a.variable for 60 months and then 3.64% p.a.

4.04% p.a.

$345.00 yearly

3.97% p.a.variable for 60 months and then 3.92% p.a.

4.31% p.a.

$345.00 yearly

Illawarra Home Loans Bank Beater Home Loan

3.97% p.a.variable for 60 months and then 3.92% p.a.

4.31% p.a.

$345.00 yearly

4.17% p.a.variable for 60 months and then 4.12% p.a.

4.51% p.a.

$345.00 yearly

Illawarra Home Loans Bank Beater Home Loan

4.17% p.a.variable for 60 months and then 4.12% p.a.

4.51% p.a.

$345.00 yearly

4.37% p.a.variable for 60 months and then 4.32% p.a.

4.71% p.a.

$345.00 yearly

Illawarra Home Loans Bank Beater Home Loan

4.37% p.a.variable for 60 months and then 4.32% p.a.

4.71% p.a.

$345.00 yearly

4.57% p.a.variable for 60 months and then 4.52% p.a.

4.90% p.a.

$345.00 yearly

Illawarra Home Loans Bank Beater Home Loan

4.57% p.a.variable for 60 months and then 4.52% p.a.

4.90% p.a.

$345.00 yearly

4.77% p.a.variable for 60 months and then 4.72% p.a.

5.10% p.a.

$345.00 yearly

Illawarra Home Loans Bank Beater Home Loan

4.77% p.a.variable for 60 months and then 4.72% p.a.

5.10% p.a.

$345.00 yearly

Mozo Review   Illawarra Home Loans Bank Beater Home Loan Review

Last updated: 11 September 2018.

What's hot:
  • 3.69% variable rate (4.04% comparison rate) for owner occupiers

  • Free extra repayments and redraw facility

  • Offset account

What's not:
  • $345 annual service fee

Mozo snapshot:

In the market for a low rate, full feature home loan that can help you save on interest repayments? The Bank Beater Home Loan will beat out all the competition with a rewarding 3.69% variable rate for those savvy owner occupiers who have an LVR up to 80%. And there are good times ahead because after 60 months you'll enjoy a bonus rate drop of 0.05% discount on your loan. 

Key features:

The Illawarra Home Loans Bank Beater Home Loan has a tiered rate depending on your loan to property value ratio (LVR). The best rates are available for borrowers who have an LVR up to 80% at 3.69% for 60 months. If you're borrowing between 80-90% LVR the rate is 3.97% (4.31% comparison rate), loans over 90% LVR the rate is 4.17%(4.51% comparison rate). After 5 years you will also get a bonus rate drop of 0.05% discount for all loans.

With the Bank Beater Home Loan you can borrow as little as $250,000 up to $1,000,000 for loan terms 15 up to 30 years. Tailor the repayments to suit your lifestyle with options for weekly, fortnightly or monthly repayments.

Upfront fees have been scrapped like the $330 application fee, $275 lenders legal fees and you will get a refund for your valuation fee (up to the value of $330) for loans that proceed to settlement.

But this loan isn't fee free. There is a $345 annual service fee attached to the loan so be sure to use all of the top features that come standard with the loan like 100% offset account and redraw.

Who it's good for:

Borrowers who are looking outside the big banks for a full feature loan with a top rate.

Any catches?

Don't live in the Illawarra area? No problem, Illawarra home loans are available no matter where you live in Australia as its an online mortgage lender. You can do your home loan application from the comfort of your lounge room or talk to one of their home loan experts over the phone.  

Details

Rates and fees information correct as at 21 October 2018.

Rates
  • 3.64% p.a.

  • 3.69% p.a.

  • 60 Months

  • Variable

  • 4.04% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $330.00

  • $0.00

  • $0.00

  • $0.00

  • none

  • $345.00 yearly

  • $300.00

Other financial bits
  • $250,000

  • $1,000,000

  • none

  • 80.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • yes

  • yes

  • $0.00

  • yes

  • yes

  • 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.

Details

Rates and fees information correct as at 21 October 2018.

Rates
  • 3.92% p.a.

  • 3.97% p.a.

  • 60 Months

  • Variable

  • 4.31% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $330.00

  • $0.00

  • $0.00

  • $0.00

  • none

  • $345.00 yearly

  • $300.00

Other financial bits
  • $250,000

  • $1,000,000

  • 80.00%

  • 90.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • yes

  • yes

  • $0.00

  • yes

  • yes

  • 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.

Details

Rates and fees information correct as at 21 October 2018.

Rates
  • 4.12% p.a.

  • 4.17% p.a.

  • 60 Months

  • Variable

  • 4.51% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $330.00

  • $0.00

  • $0.00

  • $0.00

  • none

  • $345.00 yearly

  • $300.00

Other financial bits
  • $250,000

  • $1,000,000

  • 90.00%

  • 95.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • yes

  • yes

  • $0.00

  • yes

  • yes

  • 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.

Details

Rates and fees information correct as at 21 October 2018.

Rates
  • 4.32% p.a.

  • 4.37% p.a.

  • 60 Months

  • Variable

  • 4.71% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $330.00

  • $0.00

  • $0.00

  • $0.00

  • none

  • $345.00 yearly

  • $300.00

Other financial bits
  • $250,000

  • $1,000,000

  • none

  • 80.00%

Features
  • Investor

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • yes

  • yes

  • $0.00

  • yes

  • yes

  • 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.

Details

Rates and fees information correct as at 21 October 2018.

Rates
  • 4.52% p.a.

  • 4.57% p.a.

  • 60 Months

  • Variable

  • 4.90% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $330.00

  • $0.00

  • $0.00

  • $0.00

  • none

  • $345.00 yearly

  • $300.00

Other financial bits
  • $250,000

  • $1,000,000

  • 80.00%

  • 90.00%

Features
  • Investor

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • yes

  • yes

  • $0.00

  • yes

  • yes

  • 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.

Details

Rates and fees information correct as at 21 October 2018.

Rates
  • 4.72% p.a.

  • 4.77% p.a.

  • 60 Months

  • Variable

  • 5.10% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $330.00

  • $0.00

  • $0.00

  • $0.00

  • none

  • $345.00 yearly

  • $300.00

Other financial bits
  • $250,000

  • $1,000,000

  • 90.00%

  • 95.00%

Features
  • Investor

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • yes

  • yes

  • $0.00

  • yes

  • yes

  • 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.

Customer Reviews

How are Illawarra Home Loans home loans rated by the Mozo community?

Overall customer rating
9.3/10
Price
10.0/10
Features
10.0/10
Customer service
9.7/10
Convenience
9.0/10
Trust
10.0/10

Latest review of Illawarra Home Loans Bank Beater Home Loan

  • Overall
    9/10
    Cheap home loan with all the features at no cost

    Attracted to them by their great rate and product flexibility. Good honest team to deal with.

    Attracted to them by their great rate and product flexibility. Good honest team to deal with.

    Price
    10/10
    Features
    10/10
    Customer service
    9/10
    Convenience
    8/10
    Trust
    10/10

    Graham | New South Wales

    reviewed almost 5 years ago

Illawarra Home Loans

About Illawarra Home Loans

Illawarra Home Loans is a non-bank lender of competitive low rate home loans. Established in 1989, Illawarra Home Loans has tailored home loan packages for first home buyers, property investors and people looking to refinance their home loan. It is a member of the Mortgage Industry Associations of Australia and a member of the Finance Brokers Association of Australia. Illawarra Home Loans can also be found on our Q&#38;A forum, Mozo Answers, answering questions. <a href="http://mozo.com.au/answers/profiles/Elise%20Denis/47147">View Profile</a>.

See Illawarra Home Loans home loans

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3.64% p.a. variable

3.66% p.a.

$520

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Low Rate Home Loan with Offset

3.68% p.a. variable

3.69% p.a.

$0

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Discount Variable Home Loan

3.67% p.a. variable

3.69% p.a.

$150

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3.59% p.a. variable

3.61% p.a.

$150

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3.72% p.a. variable

4.12% p.a.

$0

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Back to Basics

3.79% p.a. variable

3.80% p.a.

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3.65% p.a. variable

3.66% p.a.

$0

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3.69% p.a. variable

3.73% p.a.

$600

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3.64% p.a.

3.66% p.a.

$520

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Base Variable Rate Home Loan

3.69% p.a.

3.73% p.a.

$600

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UHomeLoan - Offer

3.59% p.a.

3.59% p.a.

$0

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3.59% p.a.

3.61% p.a.

$150

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Discount Variable Home Loan

3.67% p.a.

3.69% p.a.

$150

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Reward Me Variable Rate Home Loan

3.64% p.a.

3.78% p.a.

$150

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Back to Basics

3.79% p.a.

3.80% p.a.

$0

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Basic Home Loan

3.65% p.a.

3.66% p.a.

$0

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Smart Loan Fixed (Package)

3.99% p.a.
fixed 3 years

4.31% p.a.

$520

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Queensland Country Credit Union

Ultimate Fixed Home Loan (Package)

n/a

n/a

$0

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UBank

UBank

UHomeLoan (Fixed)

3.74% p.a.
fixed 3 years

4.01% p.a.

$395

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Beyond Bank

Beyond Bank

Fixed Rate Total Home Loan (Package)

3.83% p.a.
fixed 3 years

4.90% p.a.

$0

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Newcastle Permanent

Newcastle Permanent

Fixed Rate Home Loan

3.99% p.a.
fixed 3 years

4.82% p.a.

$0

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Virgin Money

Virgin Money

Reward Me Fixed Rate Home Loan

3.87% p.a.
fixed 3 years

4.02% p.a.

$150

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bcu

bcu

Fixed Rate Home Loan

3.90% p.a.
fixed 3 years

4.78% p.a.

$600

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UHomeLoan (Fixed)

3.74% p.a.
fixed 3 years

4.01% p.a.

$395

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Essentials Variable

3.64% p.a.

3.66% p.a.

$0.00

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State Custodians

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Low Rate Home Loan with Offset

3.68% p.a.

3.69% p.a.

$0.00

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Heritage Bank

Heritage Bank

Discount Variable Home Loan

3.67% p.a.

3.69% p.a.

$0.00

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HSBC

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Home Value Loan

3.59% p.a.

3.61% p.a.

$0.00

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Bank Australia

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Basic Home Loan

3.65% p.a.

3.66% p.a.

$0.00

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UHomeLoan - Offer

3.59% p.a.

3.59% p.a.

$0.00

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Mystery Bank Deal

3.54% p.a.

3.60% p.a.

$0.00

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Virgin Money

Reward Me Variable Rate Home Loan

3.68% p.a.

3.82% 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.