If you’re after a loan that will give you a low variable rate and a few added perks, then look no further than Qudos Bank’s Low Cost Home Loan Package.For owner occupiers looking to borrow with a 20% deposit, there’s a 3.89% rate, while investors with the same deposit amount will have a rate of 4.54%.
Not only will taking out this packaged loan grant you a complimentary meeting with a Qudos financial planner, there’s also a 10% discount off an Allianz Home and Contents Insurance policy up for grabs.
There’s nothing but flexibility with this loan, as you can make your repayments according to your lifestyle - either on a weekly, fortnightly or monthly basis. But what’s a home loan without a few handy features? Some of the perks include the repayment holiday (that is, if you’ve made your repayments in advance), allowing you to take a break from your mortgage, along with free extra repayments and an offset account. And if you ever need to redraw some of those some of those extra repayments you’ve made, there’s no hassle, thanks to the free redraw facility.
However, we should mention that while there are no application or ongoing fees attached to this loan, there is a $275 discharge fee.
Who it's good for:
The Qudos Bank Low Cost Home Loan package could be a good choice for an owner occupier on a budget, looking to further save on other financial products by bundling them with one institution.
Once you’ve paid off your loan, be aware that there is a $275 discharge fee. There’s also a maximum LVR of 80%, so you will need to have a 20% deposit in order to apply.