Aussie Optimizer Standard 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 Standard Variable Rate Home Loan – Key Features
The Aussie Optimizer Standard Variable Rate Home Loan has the following key features:
- Residential properties only
- Zero transaction fees with online banking
- $0 ongoing maintenance fees
- $100,000 Minimum loan
- $2,000,000 Maximum loan
- Easy access to account via:
- Internet
- Telephone
- B Pay
- Competitive interest rate options:
- 7.06% Variable interest rate
- 7.11% Comparison rate
- Convert your loan to a fixed interest rate at no additional charge and at any time
- A maximum of 30 years to repay the loan
- Repayment options:
- Fortnightly or once a month
- Interest only – to a maximum of 5 years Principal and interest
- Payment methods:
- Direct debit order
- Direct salary deduction
- Make additional payments on the instalment at no additional charge
- Free redraw facility through self-help facility
- Free printed statement every 6 months
Other Features Include:
Additional features for this loan type includes:
- 90% Maximum LVR (Loan to Valuation Ratio)
- 90% LVR maximum for a LMI Capitalisation
- Redraw – A facility which permits clients to access available cash from their loan account. An example could be when a salary is paid into the account or when higher than required monthly repayments are made.
- $1000 minimum redraw via self-help Internet facility
- $2000 minimum redraw via manual facility of the Customer Service team
Self-help Advantages
Utilise the website from anywhere in the world and enjoy the following advantages:
- Access to your home loan account
- Free transactions
- Request a cash card
- Request a cheque book
Optional Possibilities
Utilise the Aussie Optimizer Standard Variable Rate Home Loan and have access to the following flexible features:
- Convert to a 100% fixed interest rate loan during the loan term at no additional cost.
- 2 Split options allowed before settlement of loan, and at no additional cost with a maximum of 3 splits allowed in total. Split loans are referred to when a loan is split up in 2 with different interest rate types i.e. variable & fixed rates. A $300 fee is applicable for a split after settlement.
- Or choose to only repay interest.
Need to change your loan?
- Adjust your loan according to your personal situation by applying for a loan variation; approval is subject to a $410 fee.
Fees
There are no unknown hidden costs when utilising this loan type. Fees that may be charged to this particular home loan include:
- $0 application fees
- $0 ongoing fees
- Zero initial valuation cost, thereafter $200 per evaluation
- Zero charges for first 2 splits prior to settlement
- Zero charges when converting the loan to a fixed interest type
- Solicitor’s fees: to be notified upon application
- Additional statements: $15
- $50 charges are levied when utilising redraw facilities via the Customer Service team – Zero fees apply when utilising the self-help Internet facility.
- $100 Loan settlement fee
- $300 For every split after settlement
- $400 Discharge loan fee
- $410 Variation of loan fee
- $600 Loan portability charge when applicable property is held as collateral by the bank
Tips
The Aussie Optimizer Standard Variable Rate Home Loan can really work for you. By using the following information individuals can further amplify savings on interest, time and bank charges.
- Apply for cheque books, cash cards and redraw facilities online
- Deposit additional funds into the account and save huge amounts on interest. Use the redraw facility to access and withdraw these funds when required. Do this by:
- Depositing your salary directly into the account
- Paying higher instalments
How Much Can I Borrow?
Each application is considered on a merit basis and approval is subject to a few factors such as:
- Deposit paid
- LVR
- The loan size
- Credit rating
LVR or “Loan to Value Ratio” is the loan sum wished to be borrowed, calculated in percentage, against the price of the property i.e. 90%.
Conclusion
The Aussie Optimizer Standard Variable Rate Home Loan has competitive interest rates and flexible features to provide optimum value to its clients. Use the self-help facilities such as Internet banking to save on banking charges and time, and which allows for greater management of the account. Save huge amounts on interest by depositing your salary into the account and utilising the redraw facility.
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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