The details shown below are for an owner occupier taking out a principal & interest loan between $50,000 and $3,000,000 with an LVR below 95%
The details shown below are for an investor taking out a principal & interest loan between $50,000 and $3,000,000 with an LVR below 90%
Choose the version of this loan that suits you best
| Availability | Loan type | LVR | Min loan amount | Max loan amount | |
|---|---|---|---|---|---|
| | Owner Occupier | Principal & Interest | < 95% | $50,000 | $3,000,000 |
| | Investor | Principal & Interest | < 90% | $50,000 | $3,000,000 |
Owner Occupier (Principal & Interest)
LVR < 95%
Loan: $50,000 $3,000,000
Investor (Principal & Interest)
LVR < 90%
Loan: $50,000 $3,000,000
If you’re looking for a low-deposit home loan to get your foot on the property ladder sooner, then the MOVE Bank Standard Variable Rate Home Loan could be a worthy contender. Owner occupiers can borrow with a minimum 5% deposit and investors with a minimum 10% deposit. Plus, there are no monthly service fees to worry about and plenty of flexible features to enjoy, like free extra repayments and a fee-free redraw facility.
When it comes to flexibility, the MOVE Bank Standard Variable Rate Home Loan has all of the bells and whistles. Both owner-occupiers and investors have the option to open a 100% offset account to save on interest, as well as the ability to make free extra repayments and access a free redraw facility should they need to ‘dip’ into those extra repayments.
Plus, this home loan lets you choose between weekly, fortnightly and monthly repayments, and comes with a repayment holiday feature. There’s also a split account option available if you want to split the loan between the Standard Variable and another MOVE Bank home loan.
Owner occupiers
With the Standard Variable, you can borrow any amount between $50,000 and $3 million, at variable rates of 3.65% p.a. (3.68% p.a. comparison rate*) for owner occupiers. While these aren’t the most competitive rates around^, the good news is you won’t need to save up a 20% deposit before taking out a MOVE Bank Standard Variable Rate Home Loan since it allows owner occupiers to borrow up to 95% of the property value.
Investors
The Standard Variable also offers investors loan amounts between $50,000 and $3 million, at variable rates from 4.09% p.a. (4.13% p.a. comparison rate*). Investors taking out this home loan can borrow up to 90% of the property value.
In terms of fees, this home loan has no monthly service fees, although you’ll need to factor in a $450 upfront fee and a $150 discharge fee once you’ve finished repaying your loan.
^The average rate in the Mozo database for $400,000 variable home loans with a 95% LVR (owner-occupier, principal & interest) is 3.96% p.a., as of 2 March 2020.
The MOVE Bank Standard Variable Rate Home Loan will suit home buyers looking to get into the property market with only a 5-10% deposit saved up. It also suits borrowers who want a loan packed with flexible features like a 100% offset account and repayment holidays.
Just bear in mind this home loan comes with a few fees, including a $450 application fee and a $150 discharge fee.
And if you’re borrowing with a deposit below 20%, you’ll have to pay Lenders Mortgage Insurance.
3.65% p.a.
n/a
n/a
n/a
3.68% p.a.
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
$450.00
$0.00
n/a
$0.00
n/a
$0.00
$150.00
$50,000
$3,000,000
none
95.00%
Owner Occupier
Principal & Interest
Weekly, Fortnightly, Monthly
yes - free
yes
yes - free
none
yes
yes
Valuation fee payable at cost
none
Receive $1,000 for new applications for loan amounts of $500,000 or more received before 30 June 2020 and settled by 31 July 2020 with a MOVE Bank Savings Account.
4.09% p.a.
n/a
n/a
n/a
4.12% p.a.
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
$450.00
$0.00
n/a
$0.00
n/a
$0.00
$150.00
$50,000
$3,000,000
none
90.00%
Investor
Principal & Interest
Weekly, Fortnightly, Monthly
yes - free
yes
yes - free
none
yes
yes
Valuation fee payable at cost
none
Receive $1,000 for new applications for loan amounts of $500,000 or more received before 30 June 2020 and settled by 31 July 2020 with a MOVE Bank Savings Account.
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fixed 3 years
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2.60% p.a.
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fixed 3 years
3.44% p.a.
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2.39% p.a.
2.42% p.a.
$0.00
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2.69% p.a.
$0.00
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Newcastle Permanent
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2.94% p.a.
3.34% p.a.
$395.00 yearly