ME Bank Investment Loans and Interest Only Home Loans
The ME Bank Investment Loans and Interest Only Home Loans
The ME Bank Investment Loans and Interest Only Home Loans have been specifically designed to offer the most value to investors. A zero deposit is required if enough equity is available in your existing property. Take advantage of the various options to save money, either by opting for a fixed interest loan term or by repaying interest only instalments for up to 5 years. Use the available redraw facilities, and enjoy easy access to your loan account via free telephone and online banking.
Compare with other ME Bank Home Loans
Key Features of the Loan
Key features of this loan option include:
- Loan purposes:
- Live-in
- Investments
- Interest rate:
- Variable from 7.24%
- Fixed – either one, three or five years from 6.35% p.a.
- Combination between fixed and variable
- Interest only for up to 5 years or
- Principle and interest
- $40 Minimum loan amount ($20,000 for Tasmania)
- Up to 95% Loan to Value Ratio (LVR)
- For investment purposes:
- Zero deposit required if enough equity is available in an existing property
- Available Top up loans greater than $10,000
- 5 to 30 Years loan period
- Repayment cycle only once a month
- Zero charges when switching interest rates
- $0 establishment fees
- $0 account maintenance fee
- Zero penalty for additional payments on variable loan option
- Redraw facility available
- $500 Minimum redraw for online transactions
- $2000 Minimum when redrawing using Customer Service facilities
- Available split facility:
- At no charge
- Access to account via:
- Telephone banking (free)
- Internet banking (free)
As an additional service, ME Bank will let a Mobile Banking Manager meet you at your home or place of work to explain the loan type, and to sign up interested individuals.
Important to note
It is important to note that additional fees may be incurred for certain choices made with this home loan type. For example, zero charges apply when home loan owners want to switch from variable to fix interest rates or visa versa, but a prepayment fee will apply when the change is made prematurely from a fixed to variable before the full term of the fix period was served.
Other Possible Fees
Some other fees may apply to the account. Some of these include:
- $150 Valuation fee
- $150 Solicitor fee
- $110 Agent fee
- $150 Production of title
- $200 Full discharge of mortgage
It is therefore very important that approved applicants know exactly which fees or charges could apply in order to determine whether it indeed is still the most viable option.
Related posts:
- Commonwealth Bank Interest In Advance Fixed Rate Investment Home Loan
- ME Bank Standard Home Loan
- Adelaide Bank SmartDoc Home Loan
- Illawarra Home Loans Bank Beater 50% Split ($250,000 – $1,000,000)
- ME Bank Super Fund Members Package Home Loan
- Illawarra Home Loans. Bank Beater 95% Plus Home Loan
- Interest Only Home Loans
- Commonwealth Bank Complete Home Loan Standard
- AMP Bank Home Loans
- Suncorp Bank Split Rate Home Loan
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 Mortgage of the Year 2012 – this multi-award winner features 100% offset and a loyalty 0.25% rate drop after 5 years. | 6.02% | 6.23% | $0 / $345 | 95% | $150,000 / $1,000,000 |
|
Ask A Question