What you get with this home loan
The flexibility of a transaction account built into your home loan, and a number of features.
With the Aussie Optimizer Line of Credit Loan you can:
- Draw money from your loan whenever you need, with no transaction fees.
- Access your home loan free through the Aussie website or request a cash card and cheque book.
- Split the loan – no fee to split your loan and fix the sub accounts after settlement.
- Choose to pay interest only for up to 15 years, before the loan switches to principal and interest repayments.
- Choose between fortnightly & monthly payments.
- Access our BPAY functionality.
- Capitalise interest and make no repayments, up to your credit limit.
You'll also get online access to view all transactions associated to your loan, and monthly statements. 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.
- No transaction fees.
- It's free to split the loan after settlement.
- An annual fee of $198 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.