Yellow Brick Road's fixed rate home loan, the Flexi Option (Fixed), could be a good option for owner occupiers or investors wanting to safeguard themselves against future rate increases. Depending on the variation of the loan you choose, fixed rates can be locked in for periods of 1 to 5 years on loans starting from $10,000, with up to 90% of a property’s value able to be borrowed. Extra repayments of up to $20,000 can be made towards the loan balance, plus borrowers will have access to a redraw facility and an optional offset account (for $10/month). There are a number of one-off fees attached to the loan though, all of which you'll bhe able to read about in more detail in the linked reviews below.
Product | Fixed 3 year rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments |
---|---|---|---|---|---|
6.64% p.a. |
7.49% p.a. |
|
$395 |
||
6.54% p.a. |
7.08% p.a. |
|
$395 |
||
6.44% p.a. |
6.29% p.a. |
|
$395 |
||
6.74% p.a. |
7.43% p.a. |
|
$395 |
||
6.84% p.a. |
7.60% p.a. |
|
$395 |
||
6.74% p.a. |
6.74% p.a. |
|
$395 |
||
6.74% p.a. |
7.43% p.a. |
|
$395 |
||
6.64% p.a. |
6.53% p.a. |
|
$395 |
There are also several variable rate home loans available to both investors and owner occupiers from Yellow Brick Road: the Essential Options and the Flexi Option Home Loan. As the name suggests, the Essential Options loan has few features (extra repayments and redraws are included though) but a lower rate, and it's available on loan amounts from $150,000 with up to 95% of the property's value able to be borrowed. The Flexi Option loan on the other hand comes with a higher interest rate, but it offers a greater range of loan amounts (anywhere from $10,000 up to $2,000,000). There are no ongoing service fees with either loan, but you will need to watch out for a number of one-off fees.
Product | Rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments |
---|---|---|---|---|---|
6.79% p.a. |
6.84% p.a. |
$0.00 |
$539 |
||
6.69% p.a. |
6.74% p.a. |
$0.00 |
$539 |
||
6.79% p.a. |
6.84% p.a. |
$0.00 |
$539 |
||
6.69% p.a. |
6.74% p.a. |
$0.00 |
$539 |
||
6.89% p.a. |
6.92% p.a. |
$0.00 |
$396 |
||
7.34% p.a. |
7.37% p.a. |
$0.00 |
$396 |
||
7.09% p.a. |
7.12% p.a. |
$0.00 |
$396 |
||
7.84% p.a. |
7.87% p.a. |
$0.00 |
$396 |
||
7.34% p.a. |
7.37% p.a. |
$0.00 |
$396 |
||
7.85% p.a. |
7.88% p.a. |
$0.00 |
$396 |
||
7.80% p.a. |
7.83% p.a. |
|
$395 |
||
6.18% p.a. |
6.21% p.a. |
|
$395 |
||
7.25% p.a. |
7.28% p.a. |
|
$395 |
||
6.14% p.a. |
6.17% p.a. |
|
$395 |
||
7.67% p.a. |
7.70% p.a. |
|
$395 |
||
6.99% p.a. |
7.04% p.a. |
$0.00 |
$539 |
||
6.89% p.a. |
6.94% p.a. |
$0.00 |
$539 |
||
6.99% p.a. |
7.04% p.a. |
$0.00 |
$539 |
||
6.89% p.a. |
6.94% p.a. |
$0.00 |
$539 |
||
7.09% p.a. |
7.12% p.a. |
$0.00 |
$396 |
||
7.34% p.a. |
7.37% p.a. |
$0.00 |
$396 |
||
7.14% p.a. |
7.17% p.a. |
$0.00 |
$396 |
||
7.59% p.a. |
7.62% p.a. |
$0.00 |
$396 |
||
7.49% p.a. |
7.52% p.a. |
$0.00 |
$396 |
||
7.67% p.a. |
7.70% p.a. |
|
$395 |
||
6.34% p.a. |
6.37% p.a. |
|
$395 |
||
6.69% p.a. |
6.72% p.a. |
|
$395 |
||
7.87% p.a. |
7.90% p.a. |
|
$395 |
||
6.59% p.a. |
6.62% p.a. |
|
$395 |
||
6.44% p.a. |
6.47% p.a. |
|
$395 |
The variable, fixed and package home loans from Yellow Brick Road have a Family Guarantee option available which allows an immediate family member to support your loan application using the equity in their own home. This could provide a way for borrowers with a low deposit to get into the market.
Make additional repayments and redraw those extra funds online and without charge when you opt for a variable rate or package home loan with Yellow Brick Road. Fixed rate customers will also be able to use both features, though extra repayments are capped.
Yellow Brick Road has generously added a free lock rate feature on all fixed rate applications to ensure you’re protected against interest rate rises between the formal approval and settlement date so long as settlement takes place within 90 days of the loan contract date.
Mozo users have rated Yellow Brick Road home loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.
14 Reviews
Have over a million dollars in equity and they were looking into some options and would ring me back or at the least said would email me. it’s been a week and still nothing. I made one phone call after them and got my loan. 0/10 rating Definitely would not recommend.
Read full reviewHave over a million dollars in equity and they were looking into some options and would ring me back or at the least said would email me. it’s been a week and still nothing. I made one phone call after them and got my loan. 0/10 rating Definitely would not recommend.
Absolutely hopeless. Been waiting a month, have constantly told them the date my interest rate is going up and when I need this completed by. Have had to chase and follow up many many times. My rate goes up, they've failed to send me contracts. Turns out they took so long that interest rates went up and now the lower interest offer that i accepted, no longer stands...yesterday they said I'd get contracts. RBA put rates up 2 weeks ago. These people are useless and have cost me hundreds of dollars.
Read full reviewAbsolutely hopeless. Been waiting a month, have constantly told them the date my interest rate is going up and when I need this completed by. Have had to chase and follow up many many times. My rate goes up, they've failed to send me contracts. Turns out they took so long that interest rates went up and now the lower interest offer that i accepted, no longer stands...yesterday they said I'd get contracts. RBA put rates up 2 weeks ago. These people are useless and have cost me hundreds of dollars.
Review based on the fact that I had finished my loan but was told I had to pay $900 to discharge the loan. Apparently they charge $495 for a loan discharge fee + 300+ for lawyers fees because they don't have in house lawyers onsite. I call BS on RESI Home-loans!
Read full reviewReview based on the fact that I had finished my loan but was told I had to pay $900 to discharge the loan. Apparently they charge $495 for a loan discharge fee + 300+ for lawyers fees because they don't have in house lawyers onsite. I call BS on RESI Home-loans!
Representative was always available at their office or at our place. She explained everything clearly, was friendly and professional and explained the process! Approval was nice and quick and we were always kept in the loop. You received a letter if the interest rates changed and it was reflected in your statement. What frustrated me was that when the Reserve bank did start to move rates down, you had to ring them up and request a review of your loan. Change (or not) was approved on the day. I always did my homework and could see that better offers were available so when you pointed that out, they’d usually drop to a rate that was very close to the one I’d researched. Because of their excellent customer service we stayed with them. We have now finished paying off our mortgage but we would still recommend them. They provided that 'good feel' personal touch! Something banks and many other financial institutions have forgotten how to do!
Read full reviewRepresentative was always available at their office or at our place. She explained everything clearly, was friendly and professional and explained the process! Approval was nice and quick and we were always kept in the loop. You received a letter if the interest rates changed and it was reflected in your statement. What frustrated me was that when the Reserve bank did start to move rates down, you had to ring them up and request a review of your loan. Change (or not) was approved on the day. I always did my homework and could see that better offers were available so when you pointed that out, they’d usually drop to a rate that was very close to the one I’d researched. Because of their excellent customer service we stayed with them. We have now finished paying off our mortgage but we would still recommend them. They provided that 'good feel' personal touch! Something banks and many other financial institutions have forgotten how to do!
The Rooty Hill shop customer service person is more interested in flogging a product than customer service. Do not see this guy.
Read full reviewThe Rooty Hill shop customer service person is more interested in flogging a product than customer service. Do not see this guy.
If you decide that a Yellow Brick Road home loan is for you, here are some of the documents and information you may find helpful to assemble before you start your online application: