MOVE Bank Ultra Low Lockit

2.74% p.a.

3.82% p.a.

$0.00

MOVE Bank Ultra Low Lockit

2.74% p.a.

3.82% p.a.

$0.00

Mozo Review   MOVE Bank Ultra Low Lockit Review

Last updated: 21 January 2020.

What's hot:
  • Low 2.74% fixed three year rate (3.82% 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 2.74% fixed three year rate (3.82% comparison rate*), no ongoing fees and free extra repayments of up to $10,000 a year, this loan works to keep costs low. 


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 4.15%. 


Who it's 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. 


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 29 January 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

  • 2.74% (3.82%*)

  • n/a

  • n/a

  • n/a

  • n/a

  • 4.15% p.a.

Fees
  • $450.00

  • $0.00

  • $0.00

  • $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

  • none

  • none

  • Receive $1,000 for new applications for loan amounts of $400,000 or more received before 29 May 2020 and settled by 30 June 2020 with a MOVE Bank Savings Account.

*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 customer rating
7.6/10
Price
7.3/10
Features
6.4/10
Customer service
7.8/10
Convenience
7.2/10
Trust
7.5/10

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*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.