PMG Standard Variable/Fixed Home Loan
Review: PMG Standard Variable/Fixed Home Loan
Home owners across Australia often find that the Pacific Mortgage Group is the best company to turn to for a home loan. The company was set up in 2000 and it is now known to be one of the most popular and well respected online mortgage providers in the country. It has won more than 20 awards and these include ‘Australia’s cheapest home loan’ and ‘Mortgage of the Year’. If you want a home loan you can trust then PMG certainly seems to be one of the best options open to you.
The goal of the company is to offer the most affordable home loans for all types of homeowner.
Who Qualifies for a PMG Standard Variable/Fixed Home Loan?
Basically anybody looking for a mortgage can benefit from the PMG standard variable/fixed home loan. Whether you are a first time buyer or if you are looking to buy to let, there will be a plan to suit you.
The standard variable/fixed home loan comes in a variety of packages. You will need to talk to a member of staff to see which plan would best suit your needs. Providing you are an Australian citizen and you are over 18, you could benefit from this home loan.
The Key Benefits of the PMG Home Loan
The first thing that you should look into before making a decision is whether the benefits are good enough? After all, you want to find the best possible deal.
The key benefits of the PMG standard variable/fixed loan include:
- Flexible Repayment Options
- A Low Standard Variable and Fixed Interest Rate
- Unlimited Redraw Facility
- No Fees
- High Maximum Loan Amount
These are the main benefits that you can expect from the loan. The main one that you will likely be interested in is the low interest rates. The PMG standard variable loan comes with a low interest rate of 5.93%
The fixed loans will vary depending upon how long you take them out for. The 2 year fixed loan will charge 5.94% If you switch to a 3 year fixed loan then that will charge you 6.09%. Finally a 5 year fixed loan will cost you 6.60% interest.
The actual term that you can take advantage of varies from 1-30 years. You can talk over your needs and requirements with a member of staff. They will be able to tell you whether you qualify for a long term loan.
The other main benefit that you will be interested in is the no fees promise. You will not be charged any administration fees or any monthly/annual fees. You receive a free valuation and free settlement fees too. Not many other mortgage providers give you this kind of guarantee. It’s also worth pointing out that if you cancel the home loan while it is being processed, you will be charged a valuation fee. This will likely be for $236.50.
If you like having the flexibility of paying when it suits you then this could be the home loan for you. You can choose to pay weekly, fortnightly or monthly if you would prefer. You can also choose to pay more off when you can.
Sometimes you might get a little bonus for example and you may want to use that to pay off some of your mortgage. If so then this usually shouldn’t be a problem. It also gives you the advantage of redrawing the money if you need to.
With this loan you will receive free, unlimited redraws. This is great news if you have paid more than you have needed to on your mortgage and you now need additional funds. Life doesn’t always run how you expect it to. Therefore you need to know that you can get the cash that you need when you need it. By redrawing some of what you have overpaid, it could help you out in times of need.
Overall the PMG standard variable/fixed home loan is a great option. You are guaranteed a low rate and flexibility. Thousands of people recommend PMG and it isn’t hard to see why. Take a look at the website and enquire to see just how this home loan could help you.
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