Aussie Optimizer Plus Variable Rate Home Loan
What happens when I click Enquire Now?
- Clicking Enquire Now will take you to the lender's website
- After completing the contact form, a mortgage expert will contact you
- The mortgage expert will ensure you find the right loan, calculate your repayments, and explains all the associated fees
- After going through the enquiry process you will be able to know how much you can borrow, begin your application when you are ready to apply and be approved for a home loan
Aussie Optimizer Plus Variable Rate Home Loan – Key Features
The Aussie Optimizer Plus Variable Rate Home Loan has the following key features:
- Residential properties only apply
- Free application
- Low continuous monthly maintenance fee
- Zero deferred establishment fees
- Minimum loan of $350,000
- Maximum loan of $2,000,000
- Easy access to loan account via:
- Internet
- Telephone
- B Pay
- EFTPOS
- ATM
- Competitive interest rate options:
- Variable interest rate of 7.06% – includes a potential discount feature
- Comparison Rate of 7.28%
- Opt for a fixed interest rate at no additional costs and at any time
- Up to 30 years loan repayment term
- Repayment options:
- Every 2 weeks or once a month
- Interest only – to a maximum of 5 years or,
- Principal and interest
- Payment methods:
- Direct debit order
- Direct salary deduction
- With optional additional payments made free of charge and at any time
- Free redraw facility through Customer Service or website
- Free printed statement every 6 months
Other Features Include:
Additional features for this loan type includes:
- Maximum LVR (Loan to Valuation Ratio) of 80%
- LMI Capitalisation option up to a maximum of 82% LVR
- Redraw – This facility allows clients to access funds from their account if additional payments over and above the applicable monthly repayment have been made.
- Redraw minimum for self-help transactions through use of website: $1000
- Obtain a deposit card for easy redraw of funds from an ATM – fee for transactions may apply
Optional Possibilities
The Aussie Optimizer Plus Variable Rate Home Loan includes various options when it comes to loan type and interest rates. These include:
- Enjoy a reduction in variable rates which are linked to the LVR. The lower the LVR the higher the discount.
- Opt for a fixed interest rate at any time with zero charges to the account.
- 2 Split options on your loan any time prior to settlement with no additional fees. Up to 6 splits allowed in total. Split loans are referred to when a loan is subject to 2 different interest rate types i.e. variable & fixed rates. Zero fees apply when opting to split the loan after settlement.
- Or choose to only repay interest.
Need to change your loan?
- You may opt for a loan variation, but applications are subject to approval and can only be made 6 months after settlement. After settlement, another loan may be applied for to the original loan amount.
Fees
There are no unknown hidden costs and fees include:
- Application fee: $0
- Deferred establishment fees: zero
- Loan settlement fee: $100
- Charges for 1st valuation: Free, thereafter $200
- Solicitors fees: Variable and will be advised upon application
- Monthly maintenance or ongoing fee: $198
- Additional statements: $15
- Redraw charges using Customer Service team: – it is free online or with telephone banking
- Discharge of loan fee: $400
- Porting your loan? $600 fee charged when property form part of the bank’s security
Tips
Let the home loan work for you. Follow the following tips to ensure optimum overall value of your loan. Do this by:
- Paying your salary into your loan account and therefore saving on interest.
- Repaying extra funds on your monthly instalment and redrawing it when needed.
- Applying for your redraw facility online you will save time and money.
How Much Can I Borrow?
Every new application is considered on a basis of merit. Some standard factors influencing the approval of the loan are the following:
- The loan size
- Credit rating
- Deposit paid
- LVR
LVR stands for “Loan to Value Ratio” which refers to the loan amount you wish to obtain against the value of the property – calculated in percentage i.e 80%
Contact Numbers
In need of more information? Feel free to contact the Customer Service team and obtain adequate advice or simply go online.
- Customer Service: 13 16 34
- For manual redraw applications contact: No need to Customer Service: #13 33 33
Conclusion
The Aussie Optimizer Plus Variable Rate Home Loan is the ideal option for any individual looking to purchase a property for $350 000 or more. The self-help features linked to this loan will save you both time and money, and allow for greater hands-on management of the account.
Read the official terms and conditions
Top Home Loans
| Home Loan | Details | Interest Rate (p.a.) | Comp Rate^ (p.a.) | App Fee / Ongoing Fee | Max LVR | Min & Max Borrowing | |
|---|---|---|---|---|---|---|---|
 Loans.com.au - Dream Catcher | A home loan offer with a $0 application fee and one of the lowest available home loan interest rates. | 5.85% | 6.21% | $0 / $375 | 80% | $50,000 / $750,000 |
 
|
 Bankwest Online Home Loan | A low interest rate home loan with a $0 application fee and ongoing maintenance fees. This offer is exclusively available by applying online. | 5.97% | 5.97% | $0 / $0 | 80% | $100,000 / $1,000,000 |
|
 Illawarra Home Loans Bank Beater Home Loan | A low variable rate, beaten down even further by 0.05% p.a. after 5 years. | 6.07% | 6.35% | $0 / $345 | 90% | $250,000 / $1,000,000 |
|
 State Custodians Mortgage Company Standard Variable Offset Loan | Awarded the 2011 Non bank Lender of the Year this feature-packed loan rewards customers with a bonus rate drop of 0.25% after 5 years. | 6.02% | 6.23% | $0 / $345 | 95% | $150,000 / $1,000,000 |
|
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