Aussie Classic Plus Standard
Variable Rate
The Aussie Classic Plus Variable rate loan with a low ongoing management fee for those borrowing over $350,000. Includes a range of features, and competitive interest rates to suit your particular situation.
You can get discounted variable rates depending on the amount you borrow compared to the value of the property (Loan to Valuation Ratio). The lower the loan to valuation ratio the higher the discount.
Interest Rate
Variable Rate -
Loan Size
Minimum - $350,000
Maximum - $2,000,000
Maximum Loan to Valuation Ratio
90%
Loan Repayments
Principal & Interest or Interest Only
Interest Only: Maximum term of 5 yrs
Payment Frequency
Fortnightly or Monthly
Paid By
Direct Debit or Direct Salary Crediting
Additional Payments
Yes, any time free of charge
Access
Internet, Phone, B Pay, ATM, EFTPOS
LMI Capitalisation
means you have the option to borrow the cost of the insurance as part of your loan
Yes up to maximum LVR of 92%
Valuation Fee
1st valuation is free, $200 for 2nd and subsequent valuations
Solicitors Fee
Advised by solicitor
Ongoing Fee
$15 per month
Redraw
Yes
No fees via internet or telephone banking. Automatic redraw min. $1,000 via self service telephone or website, after access set up.
Split Loan
Yes at no extra cost
Pre settlement up to 2 splits
Maximum 6 splits available
Convert to fix
Yes at no extra cost
Portability
means you can transfer your mortgage to another property
$600
Discharge Fee
$965 for (Year 1-5)
$215 thereafter
Variation
you can apply for an increase to the principal 6 months after settlement. All loan variations are subject to approval
$410 variation fee
What you get with this home loan
Not only a range of discounted rates, but it also comes with great flexible features.
- Get discounted variable rates depending on the amount you borrow compared to the value of the property (loan to value ratio). The lower the LVR the higher the discount.
- Redraw - make additional repayments to reduce your interest and redraw the extra funds whenever you need them.
- Split the loan – fix the rate on part of it. It’s free to do this before settlement.
- Convert to a fixed rate – any time that you need to be certain about the amount of your monthly repayments.
- Choose to pay interest only.
- Choose between fortnightly and monthly repayments.
- Access our Bpay functionality.
- Get a deposit card and access any redraw via ATM, transactional fees may apply.
You’ll also get online access to view all transactions associated with your loan, and a printed statement every 6 months. For additional statements you’ll be charged $15.
This loan is portable, but if you choose to switch the property acting as security there is a $600 fee.
What you need to know about this loan
- It’s only for residential properties.
- The maximum loan term is 30 years.
- It’s free to request a redraw via our website or our customer service team.
- It’s free to split the loan after settlement.
- There are no deferred establishment fees.
- A monthly fee of $15 is payable.
Amount you can borrow
We assess the maximum amount that can be borrowed on a case by case basis. We generally consider a few things such as the size of your deposit and the Loan to Value Ratio (LVR). The LVR is the percentage of the property’s value you wish to borrow.
How to make this loan work best for you
Get your salary paid into your loan account and redraw the funds you need. Remember, redraws are free if you request them online. This way you can reduce the amount of interest you need to pay and save money.