Members Equity Super Members Home Loan (SMHL) Offset
If you have savings that are not being used, why not put them to good use? Mortgage offset accounts reduce the interest rate you pay on the loan. They allow you to offset your savings onto the loan to reduce the interest payments while still having full access to the funds. The Members Equity SMHL Offset home loan is a discounted variable rate home loan with the additional bonus of an offset account. You will receive the discounted interest rate simply if you are a member of pre-approved superannuation funds or ATCU affiliated unions. By reducing the interest that is charged to your account you will end up paying saving money on the loan. The interest offset account is as good as a discount on interest rates if you have savings. The interest rate that is offered with the Members Equity SMHL Offset home loan is 7.54%
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Features of the Members Equity SMHL Offset
The Members Equity SMHL Offset home loan offers a variety of features that will help you save. This section will show you all the features and the borrowing conditions that apply to the Members Equity SMHL Offset home loan. These features are:
- Mortgage offset account. The main feature of the Members Equity SMHL Offset home loan is the free mortgage offset account. This account allows you to offset your savings on the loan. When interest is calculated, the total amount owing on the loan will be reduced by the amount of funds in your offset account. This will save you money on interest payments throughout the loan.
- Flexible repayment options. The Members Equity SMHL Offset home loan allows you to change the repayment frequency to suit your needs. The Members Equity SMHL Offset home loan allows you to choose from weekly, fortnightly and monthly repayments.
- Borrowing conditions. The Members Equity SMHL Offset home loan allows you to borrow from $50,000 up to $2,000,000. The other restrictions are that you can only borrow up to 95% of the property valuation. However, if you borrow over 80% of the loan to value ration you will have to pay mortgage insurance.
- You can make additional repayments. The Members Equity SMHL Offset home loan allows you to make additional repayments whenever you may like. There is no limit or charges associated with making additional repayments. Furthermore, you can redraw these additional payments by using the redraw facility. There are no fees associated with the redraw facility but you will have to redraw a minimum of $500.
- You can split the loan. By splitting the loan you are able to select a part of your loan to be under a different loan scheme. This can be useful as you will not feel the full negative effects of a particular loan type while still being able to gain some of the benefits. The Members Equity SMHL Offset home loan offers the split loan feature with no extra fees or charges.
- No fees and charges. The Members Equity SMHL Offset home loan does not charge you fees while you are paying off or applying for the loan. The only fee you will pay is an exit fee of $200.
Variable rate home loans often come with a range of features that can help you save money. The Members Equity SMHL Offset home loan offers a great feature rich package while also providing a reduced interest rate. The reduced interest rate is offered to those people who are a member of pre-approved superannuation funds or ATCU affiliated unions. By taking advantage of the interest offset account and all the other features of the Members Equity SMHL Offset home loan you can be sure you are getting the best home loan that is available. If you would like to know more about the Members Equity SMHL Offset home loan please contact us.
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- ME Bank Super Fund Members Package Home Loan
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- membersequity.com.au/ Members Equity Online Banking
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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 |
 
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 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 |
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 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 |
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 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 |
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