The Liberty Star Home Loan is available to both owner occupiers and investors and offers enticing rates starting from just 3.79% (Principal&Interest) for owner occupier borrowers with an LVR under 60% (e.g you need a deposit of more than 40%). This rate climbs up to:
- 3.89% for owner occupiers with an LVR between 60%-70%
- 4.24% for owner occupiers with an LVR between 70%-80%
- 4.99% for owner occupiers with an LVR between 80%-95%
- 4.14% for investors with an LVR under 60%
- 4.24% for investors with an LVR between 60%-70%
- 4.59% for investors with an LVR between 70%-80%
- 5.34% for investors with an LVR between 80%-95%
No matter your LVR, loan amounts are available between $50,000 and $1,500,000. While the Liberty Star Home Loan comes with no upfront fees, there is a $295 annual service fee to consider.
Apart from a low starting rate and no upfront fees, the home loan also comes with a huge amount of flexibility. You can choose to repay both the principal and interest or alternatively opt for interest only repayments. There's also the choice of either weekly, fortnightly or monthly repayments, so you can set up your repayments to match your pay cycle.
Additional payments can be made without extra charge and you can choose to dip into that extra cash through the redraw facility. Keep in mind there is a minimum redraw amount of $1,000. If you prefer to keep your money stashed in an offset account, you'll be happy to hear that this home loan also comes with a 100% offset facility.
Who it's good for:
Perfect for any owner occupier or investor borrowers looking for a low rate home loan free of any hefty upfront fees and with a great amount of flexibility too.
While there are no upfront fees, you'll need to budget for the $295 ongoing fee. Plus we should also mention there is a $395 discharge fee.