Illawarra Home Loans Bank Beater Home Loan
Posted June 15th, 2011
and last modified January 19th, 2012
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
Benefits of the Bank Beater Home Loan
This fantastic new offer will help you save thousands with one of the most competitive rates on the Australian home loan market. With an incredibly low non-introductory rate, the Bank Beater keeps ahead of the other standard variable loans on offer from the big four to keep repayments low for the life of the loan. If that’s not enough, successful applicants will pay no valuation, application or legal fees saving you a massive $935.00. This great offer has already received solid attention from the media with Channel 7’s Morning Show listing the Bank Beater as the 2nd best variable rate home loan in the county in their recent Mortgage Price War segment. The only other loan to top the Bank Beater requires customers to put a minimum deposit of 20% compared to the 10% offered by Illawarra Home Loans.
Who is the Bank Beater Suited Towards?
While some other lenders may only welcome borrowers looking to refinance, the Bank Beater remains an excellent option for first home buyers, up-graders, re-financiers, property investors or those looking to consolidate debt.
The Bank Beater is open to new customers with no previous account needed to be eligible.
Features of the Bank Beater
- Low Interest Rate. Enjoy one of the best standard variable rates on the market with no introductory period.
- High Loan to Value Ratio. Borrow up to 90% of the property’s value.
- Interest Only Repayments. Take advantage of interest only repayments for up to 10 years.
- Range of Repayment Options. Direct debit, salary credit and deposit book.
- Additional Repayments. Make additional repayments on your loan when extra funds are available.
- 24/7 Access to Your Funds. Enjoy 24 hour Internet and telephone access so you can remain close to your funds.
- Line of Credit Option Available. 25-30 with 15 years interest only term.
- Redraw Facility. Feel secure knowing you can withdraw funds from your loan when needed.
- Split Facility. Split your loan up to four times and secure a great rate.
- Loan is Portable. Transfer your loan amount with no exit fees.
- Flexible Repayment Frequency. Repay your loan either weekly, fortnightly or monthly.
- Loan Access Card. Extra convenience with a loan access card.
Fees
- Application Fee – $0
- Transfer Fee – $0
- Legal Fee – $0
- Valuation Fee – $0
- Settlement Fee – $0
- Exit Fee – $0
- Fee for Fixing – $0
- Early Termination Fee – $0
- Service Fee – $345
How to Apply for the Bank Beater
If you would like to take advantage of this low rate simply visit the Illawarra Home Loans website and fill out a safe and easy online application. The whole process will only take a matter of minutes and an Illawarra Home Loans mortgage professional will contact you with your pre-approval.
Read the Illawarra Home Loans Bank Beater Home Loan terms and conditions.
| Minimum Loan Amount | $250,000 | |
|---|---|---|
| Maximum Loan Amount | $1,000,000 | |
| Maximum LVR | 90% | |
| Mortgage Offset Account | Yes | |
| Loan Redraw Facility | Yes | |
| Split Loan Facility | Yes | |
| Fixed Interest Option | Yes |
| Interest Rate Type | Fixed | |
|---|---|---|
| Interest Rate | 6.07% | |
| Comparison Rate | 6.35% | |
| 1 Year Fixed Rate | 5.93% | |
| 2 Year Fixed Rate | 5.81% | |
| 3 Year Fixed Rate | 5.96% | |
| 4 Year Fixed Rate | 6.10% | |
| 5 Year Fixed Rate | 6.25% | |
| Repayment Type | Interest Only | |
| Repayment Frequency | Weekly | |
| Extra Repayments | Yes |
| Application Fee | $0 | |
|---|---|---|
| Valuation Fee | $0 | |
| Service Fee | $345 | |
| Exit Fee | $0 |
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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