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Mortgage House Monthly Repayment Saver Home Loan - Fixed Consolidation Special

Fixed 3 year rate
2.54% p.a.
Comparison Rate*
2.81% p.a.
Service fee
$0.00
Upfront fee
$840

Mozo editorial review Mortgage House Monthly Repayment Saver Home Loan - Fixed Consolidation Special

Last updated: 8 July 2020.

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What's hot
  • 2.54% p.a. fixed 3 year rate (2.81% p.a. comparison rate*)
  • Borrow 10% of outstanding mortgage balance for debt consolidation or equity release
What's not
  • $445.00 settlement fee
  • $450 discharge fee
Mozo snapshot

The Mortgage House Monthly Repayment Saver Home Loan offers competitive fixed rates on 3 and 5 year terms, along with plenty of handy features to help you save on interest, like an offset account and the ability to make free extra repayments. Plus if you’re looking to consolidate some debt or access your home's equity, you’ll be able to borrow 10% of the outstanding mortgage balance.

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Key features

With this home loan from Mortgage House, you’ll be able to lock in a fixed term for either 3 years or 5 years, with interest rates sitting at 2.54% p.a. (2.81% p.a. comparison rate*) for the 3-year option and 2.79% p.a. (2.86% p.a. comparison rate*) for the 5-year option.

It also comes with a number of nifty features, such as the ability to borrow 10% of the outstanding mortgage balance for debt consolidation or equity release at the same rate. Repayments can be made on a weekly, fortnightly or monthly basis, and if you want to pay down your loan faster, you’ll be able to do so at no extra cost. Plus, if at some point you decide you need those extra repayments back, you can retrieve them using the free redraw facility. Just keep in mind there is a minimum redraw amount of $20.

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Who is it good for

Home buyers that are after a feature-rich fixed rate home loan will appreciate this offering from Mortgage House.

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Any catches

As far as fees go, you’ll only have to budget for a few one-off charges, namely the $395 legal fee, the $445 settlement fee, and the $450 discharge fee. And as with most fixed rate home loans, the interest rate the loan reverts to once the fixed term ends is a bit higher. This one is 2.84% p.a.

Details

Rates and fees information correct as at 23 October 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • 2.54% (2.81%*)

  • n/a

  • 2.79% (2.86%*)

  • n/a

  • n/a

  • 2.84% p.a.

Fees
  • $0.00

  • $395.00

  • $0.00

  • $445.00

  • n/a

  • $0.00

  • $450.00

Other financial bits
  • $150,000

  • $5,000,000

  • none

  • 80.00%

Features
  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes - free

  • $20.00

  • yes

  • yes

  • none

  • 10% of the outstanding mortgage balance can be borrowed for debt consolidation or equity release at the same rate.

  • 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 Mortgage House home loans rated by the Mozo community?

Overall
5.0/10
Price
5.9/10
Features
6.6/10
Customer service
4.9/10
Convenience
4.9/10
Trust
4.5/10

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2.59% p.a. variable

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Macquarie

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2.54% p.a. variable

2.81% p.a.

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Smart Home Loan

2.48% p.a. variable

2.50% p.a.

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HSBC

HSBC

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2.29% p.a.
fixed 3 years

2.95% p.a.

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Athena

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AcceleRATES Variable Home Loan

2.34% p.a. variable

2.34% p.a.

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Homestar

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2.29% p.a. variable

2.32% p.a.

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UBank

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UHomeLoan - Discount Offer

2.49% p.a. variable

2.49% p.a.

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Suncorp

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2.49% p.a.
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3.28% p.a.

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Bank of Queensland

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Economy

2.59% p.a. variable

2.76% p.a.

Promoted

Macquarie

Macquarie

Offset Home Loan (Package)

2.54% p.a.

2.81% p.a.

Promoted

loans.com.au

loans.com.au

Smart Home Loan

2.48% p.a.

2.50% p.a.

Promoted

HSBC

HSBC

Home Value Loan

2.59% p.a.

2.60% p.a.

Promoted

Athena

Athena

AcceleRATES Variable Home Loan

2.34% p.a.

2.34% p.a.

Promoted

Homestar

Homestar

Star Essentials Home Loan

2.29% p.a.

2.32% p.a.

Promoted

UBank

UBank

UHomeLoan - Discount Offer

2.49% p.a.

2.49% p.a.

Promoted

Suncorp

Suncorp

Back to Basics

2.68% p.a.

2.69% p.a.

Promoted

Bank of Queensland

Bank of Queensland

Economy

2.59% p.a.

2.76% p.a.

Promoted

loans.com.au

loans.com.au

Fixed Home Loan

n/a

n/a

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HSBC

HSBC

Fixed Rate Home Loan

2.29% p.a.
fixed 3 years

2.95% p.a.

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Homestar

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Star Classic Fixed Home Loan

2.06% p.a.
fixed 3 years

2.38% p.a.

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UBank

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UHomeLoan (1 Year Fixed)

n/a

n/a

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Suncorp

Suncorp

Fixed Home Loan (Home Package Plus)

2.49% p.a.
fixed 3 years

3.28% p.a.

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Bank of Queensland

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2.25% p.a.
fixed 3 years

3.41% p.a.

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IMB Bank

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2.39% p.a.
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3.08% p.a.

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AMP Bank

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3.07% p.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.