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

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

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 Review

Rates and fees information correct as at 25 June 2018.

Review published: 23 July 2014

What's hot:

  • Low 3.69% variable rate for owner occupiers

  • 100% 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%, loans over 90% LVR the rate is 4.17%. 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 fully featured 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.  

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

Product Type Overall Rating Price Features Service Convenience Trust
9.0

Based on 1
Illawarra Home Loans home loans reviews

10.0 10.0 9.0 8.0 10.0

Read Illawarra Home Loans home loan reviews by the Mozo community

Latest review of Illawarra Home Loans Bank Beater Home Loan

Illawarra Home Loans

Illawarra Home Loans Bank Beater Home Loan (Owner Occupier, LVR<80%) home loan review

Overall rating   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.

Full review

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

Less

Graham (NSW), reviewed over 4 years ago

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

Currently showing

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

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

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

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

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

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

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>.

*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.

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