The details shown below are for an owner occupier taking out a principal & interest loan between $500,000 and $3,000,000 with an LVR below 80%
The details shown below are for an owner occupier taking out a principal & interest loan between $150,000 and $499,999 with an LVR below 80%
Choose the version of this loan that suits you best
| Availability | Loan type | LVR | Min loan amount | Max loan amount | |
|---|---|---|---|---|---|
| | Owner Occupier | Principal & Interest | < 80% | $500,000 | $3,000,000 |
| | Owner Occupier | Principal & Interest | < 80% | $150,000 | $499,999 |
Owner Occupier (Principal & Interest)
LVR < 80%
Loan: $500,000 $3,000,000
Owner Occupier (Principal & Interest)
LVR < 80%
Loan: $150,000 $499,999
With a seriously competitive variable rate of just 2.59% (2.62% comparison rate*), the Straightforward Home Loan is one likely to impress budget savvy borrowers. But it’s not just a great rate that makes MOVE Bank’s home loan stand out. It also allows home buyers to make free extra repayments and redraws.
If you’re looking for funding to buy your first home, chances are that the first thing on your home loan checklist is a low rate to keep your repayments down. This is where the MOVE Bank Straightforward Home Loan really delivers, with a seriously low 2.59% variable rate (2.62% comparison rate*) for owner occupiers making principal and interest repayments.
The MOVE Bank home loan could be suitable for a range of borrowers, with a minimum loan amount of $150,000 all the way up to $3,000,000, and prospective homeowners can borrow with a deposit of 20% or more.
The Straightforward Home Loan doesn’t just offer a low rate though, it also offers borrowers the opportunity to choose their repayment schedule (either fortnightly or monthly) and make extra repayments on their loan for free. And anyone that does manage to make extra repayments will be able to dip into them for free using MOVE Bank’s handy online redraw facility.
When it comes to fees, the MOVE Bank Straightforward Home Loan does come with a $450 application fee as well as a $150 discharge fee once you’ve paid out your mortgage in full. The good news is that MOVE doesn’t charge any ongoing service fee so you won’t need to worry about allocating that in your budget.
Because the Straightforward Home Loan from MOVE Bank is only available for new lending, it could be a great option for owner occupiers looking to get into the market for the first time - especially with the competitive low variable rate.
As you might expect from a ‘Straightforward’ basic Home Loan, borrowers won’t have access to an offset account, though they will be able to make reduce their interest with the use of handy perks like free extra repayments and a free online redraw facility
2.59% p.a.
n/a
n/a
n/a
2.62% 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
$500,000
$3,000,000
none
80.00%
Owner Occupier
Principal & Interest
Fortnightly, Monthly
yes - free
no
yes - free
none
yes
no
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.
2.69% p.a.
n/a
n/a
n/a
2.72% 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
$150,000
$499,999
none
80.00%
Owner Occupier
Principal & Interest
Fortnightly, Monthly
yes - free
no
yes - free
none
yes
no
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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2.81% p.a.
$248.00 yearly
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2.32% p.a.
$0.00
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2.22% p.a.
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$0.00
