Southern Cross Credit Union Basic Home Loan

The details shown below are for an owner occupier taking out a principal & interest loan between $10,000 and $400,000 with an LVR below 80%

The details shown below are for an investor taking out a principal & interest, interest only loan between $10,000 and $400,000 with an LVR below 80%

Choose the version of this loan that suits you best

  • Owner Occupier (Principal & Interest)

    LVR < 80%

    Loan: $10,000 $400,000

  • Investor (Principal & Interest, Interest Only)

    LVR < 80%

    Loan: $10,000 $400,000

3.68% p.a.

3.74% p.a.

$0.00

Southern Cross Credit Union Basic Home Loan

3.68% p.a.

3.74% p.a.

$0.00

3.98% p.a.

4.04% p.a.

$0.00

Southern Cross Credit Union Basic Home Loan

3.98% p.a.

4.04% p.a.

$0.00

Mozo Review   Southern Cross Credit Union Basic Home Loan Review

Last updated: 21 March 2019.

What's hot:
  • Low 3.68% variable rate (3.74% comparison rate*)

  • Free extra repayments

  • Zero ongoing service fee

  • 2019 Mozo Experts Choice Award

What's not:
  • $430 legal fee

  • $300 discharge fee

Mozo snapshot:

With a competitive 3.68% variable interest rate (3.74% comparison rate*) and no ongoing service fees to worry about throughout the life of the loan, Southern Cross Credit Union’s Basic Home Loan could be the mortgage you’ve been waiting for. The loan even comes with the ability to make extra repayments for free and it's a 2019 Mozo Experts Choice Award winner! Not bad, eh?

Key features:

An interest rate can really make or break a home loan. But with a low variable rate of 3.68% (3.74% comparison rate*) for owner occupiers making principal and interest repayments and 3.98% (4.04% comparison rate*) for investors, the Basic Home Loan from Southern Cross Credit Union really delivers.

When it comes to borrowing, both owner occupiers and investors will be able to take out a loan between $10,000 and $400,000 with a maximum LVR of 80% (meaning a deposit of at least 20% is needed). And while this is a variable rate loan, there is a split account option which means you’ll be able to split the Basic Home Loan into two parts - one with a variable rate and the other with a fixed rate.

Southern Cross Credit Union also gives it’s Basic Home Loan customers access to a number of handy features including the opportunity to get on top of their loan by making extra repayments (for fee) and to tap into any extra repayments which are made through the online redraw facility ($10 fee per redraw).

When it comes to the other costs associated with the Basic Home Loan, Southern Cross Credit Union doesn’t charge an application fee or any ongoing service fees. However, borrowers may need to pay a legal fee ($430), valuation fee ($300) and settlement fee ($150) at the start of the loan, as well as a discharge fee ($300) once the loan is paid out in full.

Who it's good for:

The Basic Home Loan from Southern Cross Credit Union with it’s competitive rates could be a great value option for both owner occupiers and investors alike, especially for those looking for a split rate option or the chance to make free extra repayments.

Any catches?

While the Basic Home Loan doesn’t come with any application or ongoing service fees, there are a number of other costs (including legal, valuation, settlement and discharge fees) that borrowers will need to take into account.

Details

Rates and fees information correct as at 25 April 2019. 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
  • 3.68% p.a.

  • n/a

  • 0 Months

  • none

  • 3.74% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • $430.00

  • $300.00

  • $150.00

  • none

  • $0.00

  • $300.00

Other financial bits
  • $10,000

  • $400,000

  • none

  • 80.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes - fees apply

  • $0.00

  • yes

  • no

  • 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.

Details

Rates and fees information correct as at 25 April 2019. 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
  • 3.98% p.a.

  • n/a

  • 0 Months

  • none

  • 4.04% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • $430.00

  • $300.00

  • $150.00

  • none

  • $0.00

  • $300.00

Other financial bits
  • $10,000

  • $400,000

  • none

  • 80.00%

Features
  • Investor

  • Principal & Interest, Interest Only

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes - fees apply

  • $0.00

  • yes

  • no

  • 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 Southern Cross Credit Union home loans rated by the Mozo community?

Overall customer rating
9.3/10
Price
8.0/10
Features
6.5/10
Customer service
9.5/10
Convenience
8.0/10
Trust
9.5/10
Southern Cross Credit Union

About Southern Cross Credit Union

Southern Cross Credit Union has a range of financial products and services for its members. Southern Cross offers an extensive range of products in home, personal, business and investment loans, low doc loans, a range of debit card options, savings accounts, term deposits and insurance products for its members.

See Southern Cross Credit Union home loans

Promoted

UBank

UBank

UHomeLoan - Discount Offer

3.59% p.a. variable

3.59% p.a.

$0

Promoted

HSBC

HSBC

Home Value Loan

3.59% p.a. variable

3.61% p.a.

$150

Promoted

Virgin Money

Virgin Money

Reward Me Variable Rate Home Loan

3.69% p.a. variable

3.83% p.a.

$150

Promoted

ME

ME

Flexible Home Loan (Fixed)

3.94% p.a.
fixed 3 years

4.87% p.a.

$400

Promoted

Heritage Bank

Heritage Bank

Discount Variable Home Loan

3.67% p.a. variable

3.69% p.a.

$150

Promoted

Newcastle Permanent

Newcastle Permanent

Variable Home Loan (Premium Plus Package)

3.89% p.a. variable

4.29% p.a.

$0

Promoted

Macquarie

Macquarie

Basic Home Loan (Fixed)

3.69% p.a.
fixed 3 years

3.79% p.a.

$0

Promoted

Athena

Athena

Variable Home Loan

3.59% p.a. variable

3.57% p.a.

$488

Promoted

UBank

UBank

UHomeLoan - Discount Offer

3.59% p.a.

3.59% p.a.

$0

Promoted

HSBC

HSBC

Home Value Loan

3.59% p.a.

3.61% p.a.

$150

Promoted

Athena

Athena

Variable Home Loan

3.59% p.a.

3.57% p.a.

$488

Promoted

Heritage Bank

Heritage Bank

Discount Variable Home Loan

3.67% p.a.

3.69% p.a.

$150

Promoted

State Custodians

State Custodians

Low Rate Home Loan with Offset

3.58% p.a.

3.60% p.a.

$0

Promoted

RACQ Bank

RACQ Bank

Mortgage Saver Special

3.69% p.a.

3.69% p.a.

$0

Promoted

loans.com.au

loans.com.au

Smart Home Loan

3.48% p.a.

3.50% p.a.

$520

Promoted

Mortgage House

Mortgage House

Red Prime

3.49% p.a.

3.56% p.a.

$940

Promoted

UBank

UBank

UHomeLoan (Fixed)

3.74% p.a.
fixed 3 years

4.01% p.a.

$395

Promoted

loans.com.au

loans.com.au

Fixed Home Loan

3.59% p.a.
fixed 3 years

3.89% p.a.

$520

Promoted

Virgin Money

Virgin Money

Reward Me Fixed Rate Home Loan - First Home Buyer Special

n/a

n/a

$0

Promoted

Macquarie

Macquarie

Basic Home Loan (Fixed)

3.69% p.a.
fixed 3 years

3.79% p.a.

$0

Promoted

ME

ME

Flexible Home Loan (Fixed)

3.94% p.a.
fixed 3 years

4.87% p.a.

$400

Promoted

NAB

NAB

Tailored Home Loan (Fixed, Choice Package)

3.79% p.a.
fixed 3 years

4.89% p.a.

$0

Promoted

Bankwest

Bankwest

Complete Fixed Home Loan (Package)

3.98% p.a.
fixed 3 years

4.52% p.a.

$250

Promoted

Bank of Queensland

Bank of Queensland

Fixed Rate

3.69% p.a.
fixed 3 years

4.48% p.a.

$450

Promoted

UBank

UBank

UHomeLoan - Discount Offer

3.59% p.a.

3.59% p.a.

$0.00

Promoted

HSBC

HSBC

Home Value Loan

3.59% p.a.

3.61% p.a.

$0.00

Promoted

Heritage Bank

Heritage Bank

Discount Variable Home Loan

3.67% p.a.

3.69% p.a.

$0.00

Promoted

Athena

Athena

Variable Home Loan

3.59% p.a.

3.57% p.a.

$0.00

Promoted

State Custodians

State Custodians

Low Rate Home Loan with Offset

3.58% p.a.

3.60% p.a.

$0.00

Promoted

Mortgage House

Mortgage House

Red Prime

3.49% p.a.

3.56% p.a.

$0.00

Promoted

loans.com.au

loans.com.au

Smart Home Loan

3.48% p.a.

3.50% p.a.

$0.00

Promoted

loans.com.au

loans.com.au

Essentials Variable

3.64% p.a.

3.66% p.a.

$0.00

*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.