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Mini meca 2020

MOVE Bank Ultra Low Lockit

Advertiser disclosure
Fixed 3 year rate
1.89% p.a.
Comparison Rate
3.24% p.a.
Service fee
$0.00
Upfront fee
$450

Mozo editorial review MOVE Bank Ultra Low Lockit

Last updated: 1 April 2020.

binocular icon
What's hot
  • Low 2.49% fixed three year rate (3.39% comparison rate*)
  • Free extra repayments (up to $10,000 annually)
  • No ongoing service fees
What's not
  • $450 application fee
Mozo snapshot

For many future home owners, there’s nothing more comforting than locking in your home loan rate. And if that sounds like you, why not consider the MOVE Bank Ultra Low Lockit home loan. Featuring a low 2.49% fixed three year rate (3.39% comparison rate*), no ongoing fees and free extra repayments of up to $10,000 a year, this loan works to keep costs low. 


key icon
Key features

If you’re a first home buyer with a 5% deposit, then you might want to check out the MOVE Bank Ultra Low Lockit home loan. Other than a low fixed rate, there are no ongoing fees and free extra repayments (up to $10,000 annually), so you can put every dollar toward your loan. 

While you are expected to make your repayments on a monthly basis, there is the option to take a break from your repayments if you ever need to with a repayment holiday. Borrowers will also be able to save on interest, thanks to the offset account feature as well as take advantage of a variable rate with the split account option. 

Just keep in mind that there a considerable $450 application fee with this loan and once your fixed rate period ends, the loan will then revert to a fixed rate of 3.65%. 


snapshot
Who is it good for

The MOVE Bank Ultra Low Lockit home loan could be a great choice for buyers with a small deposit who like the security of a fixed rate. 


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Any catches

While the MOVE Bank Ultra Low Lockit loan works to keep fees to a minimum, you will have to budget for the $450 application fee. 

Details

Rates and fees information correct as at 17 April 2021. 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

  • 1.89% (3.24%*)

  • n/a

  • n/a

  • n/a

  • n/a

  • 3.65% p.a.

Fees
  • $450.00

  • $0.00

  • n/a

  • $0.00

  • n/a

  • $0.00

  • $150.00

Other financial bits
  • $150,000

  • $3,000,000

  • none

  • 95.00%

Features
  • Monthly

  • yes - free up to $10,000 p.a.

  • yes

  • no

  • none

  • yes

  • no

  • Valuation fee payable at cost. Offer available for a limited time.

  • none

  • 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 MOVE Bank home loans rated by the Mozo community?

Overall
7.2/10
Price
7.0/10
Features
6.2/10
Customer service
7.3/10
Convenience
6.4/10
Trust
7.0/10
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