Whether you’re looking for a home loan for your own humble abode or an investment property, the Flexible Home Loan with ME’s Member Package has you covered. Depending on the LVR and loan amount, variable rates can be as low as 3.69% (4.11% comparison rate). You’ll also have the option to split your loan between variable and fixed rates, with terms as long as 7 years.
ME’s Flexible Home Loan (Member Package) also gives you an extensive range of options when it comes to repayments. For a start, you’ll have the option to make principal and interest or interest only repayments on your home loan and you can do this on a weekly, fortnightly or monthly basis.
If you feel like you’re ahead of the curve you can also make fee-free additional repayments or if it all gets a bit much you have the chance to take a repayment holiday, too. It is worth keeping in mind that even though you’re able to make fee-free redraws on your Flexible Home Loan, there is a $500 minimum in place.
If you’re only after a small sum of cash the good news is you can still get your hands on the Flexible Home Loan for a loan of $40,000 and there is no maximum loan amount, as long as you can meet your repayments. You can also save on interest over the life of the loan by opening taking up ME’s offer of an offset account.
Although the Member Package comes with a $395 annual fee, the trade off is it delivers a few neat extras like no valuation or top up fees on your Flexible Home Loan.
Who it's good for:
If you’re a homeowner or investor that wants a full suite of home loan features at a competitive rate and you don’t mind stumping up $395 each year, the Flexible Home Loan with ME’s Member Package could be the loan you’ve been looking for.
Aside from the annual service fee, just bear in mind that all redraws will have to be worth more than $500.