The outstanding feature of the Liberty Sharp home loan is its low variable rates starting from just 3.79% if you are an owner occupier with an LVR under 60% (e.g a deposit over 40%). The following rates apply, depending on your borrowing requirements:
Owner occupier, LVR 60-70%: 3.89%
Owner occupier, LVR 70-80%: 4.24%
Owner occupier, LVR 80-95%: 4.99%
Investor, LVR <70%: 4.14%
Investor, LVR 60-70%: 4.24%
Investor, LVR 70-80%: 4.59%
Investor, LVR 80-95%: 5.34%
Apart from offering competitive interest rates, we should also mention there are some great features on offer. The Liberty Sharp home loan comes with weekly, fortnightly and monthly repayment options and extra repayments are free. You can redraw extra repayments any time but there is a $50 redraw fee and the minimum amount you'll be able to redraw is $1,000.
The Liberty Sharp home loan starts at $100,000 and goes to a maximum of $500,000.
While the upfront fee is a high $995, there are no ongoing fees with the Liberty Sharp Home Loan which means all your monthly repayments go towards paying off your home loan not lender fees. At the end of the loan you'll be up for a $395 discharge fee.
Who it's good for:
With its $500,000 maximum loan amount, sharp interest rates and no ongoing fees the Liberty Sharp home loan is an ideal home loan for first home buyers and investors.
There isn't an offset account attached to the loan but there is a redraw facility if you make extra repayments and decide that you need the money later on.