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Key Features

You can SAVE hundreds
with this loan

*T&Cs Apply
  • Offset Account
    Yes
  • Redraw Facility
    Yes
  • Additional Repayments
    Yes
  • Loan Type
    1 Year Fixed
  • Min Loan
    Max Loan
    $100,000.00
    No maximum
  • Settlement Fee
    $250
  • Monthly Fee
    $10
  • Discharge Fee
    $450
  • Internet Access
    Yes
  • LVR
    90%
  • Repayment Type
    Principal & Interest
  • Loan Splitting
    Yes

Repayments Calculator

The interest rate for the loan.
% p.a.
What is the length of time to repay the loan?
years
How much do you want to borrow?
$
What is the type of the loan?

Principal
& Interest

Interest Only

Your Repayments

  • Weekly
  • Fortnightly
  • Monthly

$1,798.65 per month

Important Disclaimer: This is intended as a guide only. Details of terms and conditions, interest rates, fees and charges are available upon application. Mortgage House's prevailing credit criteria apply. We recommend you seek independent legal and financial advice before proceeding with any loan.

Loan Details

  •  
    Interest Rate
    Comparison Rate
    The Comparison Rate is based on a loan of $150,000.00 over 25 years. Fees and charges may be payable. WARNING: The comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
  • Owner Occupied
    3.97% p.a.
    4.49% p.a.
  • Investor LOAN DETAILS
    4.32% p.a.
    4.86% p.a.
  • Maximum LVR
    90%
     
  • Minimum Loan Size
    $100,000.00
     
  • Maximum Loan Size
    No maximum
     
  • Fixed Rates
    Yes
     
  • Loan Splitting
    The ability to have many separate accounts under one loan for which there may be multiple purposes, e.g personal and investment splits, fixed and variable splits, etc.
    Yes
     
Repayment Options
  • Principal & Interest
    A loan in which both the principal and the interest are repaid over the term of the loan. Amortisation or amortising is another word for these loans that are gradually being paid off over a set period of time (the loan term). P&I can also be the abbreviation term for Principal & Interest.
    Yes
     
  • Interest Only
     
     
  • Additional Repayments
    Money IN - Allows you to make additional repayments without penalty.
    Yes
     
  • Direct Debits
    Money IN - A direct debit is an automatic payment that is set up to repay your home loan. You specify the frequency and repayment amount as well as the bank or transaction account that the repayment is to be drawn from and this payment will occur automatically on the set due date.
    Yes
     
  • Salary Credit
    Money IN - A manual payment to a loan account either via internet transfer or employee payroll transfer
    Yes
     
  • Direct Credits
    Money IN - The ability for an external party to pay directly into a borrower's loan account
    Yes
     
  • Deposit Card
    Money IN - A card used at the post office to deposit your repayments (they can be your normal repayments that are due or additional repayments)
    Yes
     
  • Bpay In
    Money IN - The ability to pay your loan via a unique biller code from another financial institution
    Yes
     
  • Capitalising of Interest
     
     
  • Line of Credit
     
     
Loan Purpose
  • Purchase
    Where you are buying a property
    Yes
     
  • Refinance
    Where you are looking to move your current loan from one lender to another
    Yes
     
  • Debt Consolidation
    Where you are looking to move multiple loans into one loan
    Yes
     
  • Construction
    Where you are building a new property
    Yes
     
  • Vacant Land
    Where you are purchasing land with no immediate intent to build the new property straight away
    Yes
     
  • Equity Release
    Where you are looking to release cash from equity you have built up in your property
    Yes
     
  • Business Purpose
    Where you are looking to use funds for a business use
    Yes
     
Features
  • 100% Offset Facility
    A non-interest earning account where 100% of the balance is offset against the home loan to reduce the total interest payable.
    Yes
     
  • Redraw Facility
    Money OUT - If you have made any lump sum or additional principal repayments to your loan account in excess of the standard repayment amount, you can access or draw back those extra repayments.
    Yes
     
  • No Monthly Fees
     
     
  • No Package Fee (excluding Stretch Feature)
    No fee to pay each & every year.
    Yes
     
  • No Rate Lock Fee
     
     
  • Stretch Package Feature
    The ability to include a credit card facility at home loan rates into your home loan facility
    Yes
     
  • Low Deposit Option
     
     
  • Toggle Feature
    An innovative new loan feature that allows you to maximise your interest savings through and intelligent offset Toggle system
    Yes
     
  • Relocation Feature
    The ability to purchase you next home prior to you selling your current property
    Yes
     
  • Repayment Sweep of Credit Card
    Money OUT - Allows your loan to automatically clear your credit card linked to this loan back to zero each month.
    Yes
     
  • Internet Access
    The access via the internet to view & administer your home loan.
    Yes
     
  • Phone Access
    The access via the phone to administer your home loan.
    Yes
     
  • ATM / EFTPOS Debit Card
    Money OUT - An ATM card is included on this loan in order for you to withdraw cash or make purchases for living purposes.
    Yes
     
  • 3rd Party Direct Debits
    Money OUT - You can pass your loan account number & BSB to another financial institution in order to take money periodically from your home loan account.
    Yes
     
  • Repayment Required
    Each repayment cycle (normally monthly) a repayment must be made, regardless if you have redraw available in the loan account.
    Yes
     
  • Cheque Book
     
     
  • LMI Premium Capitalisation
    The ability to capitalise the Lenders Mortgage Insurance premium on top of your required loan amount
    Yes
     
  • 3rd Party Protocol Friendly
    Money IN and Money OUT - A payment made to a loan account or an amount taken from a loan account either via internet transfer, employee payroll transfer or by an external party
    Yes
     
  • Loan Switching
    You can switch you loans variable interest rate to a fixed interest rate (subject to the terms and conditions of your loan)
    Yes
     
  • Up to 40 Year Loan Term
     
     
  • Up to 30 Year Loan Term
     
     
  • Up to 25 Year Loan Term
     
     
  • SMSF Loans
     
     
  • Deposit Bond
    A deposit bond acts as a substitute for the cash deposit in between signing a contract and settlement and can be issued for all or part of the deposit amount required, up to 10% of the purchase price. At settlement, the purchaser is required to pay the full purchase price including the deposit.
    Yes
     
  • NRAS Option
     
     
  • Bpay Out
    Money OUT - The ability to pay your loan via a unique biller code to another financial institution
    Yes
     
  • No LMI Premium Payable By Borrower
     
     
  • Mortgage Insurance not Required
     
     
  • Loan Portability
    A feature that enables a home loan to be transferred from one property to another, without refinancing. It can be of benefit by savings on loan set-up fees and government loan security duty.
    Yes
     
Fees
  • Monthly Fee
    $10
     
  • Package Fee
    No package fee
     
  • Rate Lock Fee
    No rate lock fee
     
  • Application Fee
    No application fee
     
  • Valuation Fee
    Up to $300 free^
     
  • Settlement Fee
    $250
     
  • Discharge Fee
    $450
     
^Mortgage House will pay up to $300 per property, any excess valuation fees are payable by the borrower(s)
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What are the features of this fixed rate home loan?

Our 1 Year Fixed Mortgage is what is called a progressive fixed rate mortgage. This means you have access to a few of the features usually only offered with variable rate mortgages. Three of the most important ones with our 1 Year Fixed Mortgage are access to an offset account, a redraw facility, and the option to make additional payments. An offset account means you can establish a non-interest earning account alongside mortgages to dip into when you need it. The amount of money in that account can offset the amount of interest payable on your loan. The offset can vary between a full interest rate offset at the loan rate to a partial offset, depending on the structure of the loan.. A redraw facility means you can take money out of your mortgage account as you need it, if you have made a lump sum payment or extra repayments over time. That can make the rate mentioned above even more attractive. However there can still be limitations to how much extra you are allowed to pay back without attracting fees. It’s also important to look at the comparison rate, which can give you an idea of the overall rate equivalent once you take into consideration any fees and charges.

How are fixed rate home loans beneficial for me?

Fixed rate mortgages are what they sound like – a loan with a fixed mortgage rate for a fixed period of time. They can help you avoid the fluctuations of a variable interest rate, which can be good for budgeting and for those looking for security in their repayment amounts. To a lot of people, fixed rate mortgages can help them reduce the risk of defaulting on their loan. Like all fixed rate loans, our 1 Year Fixed Mortgage will revert back to a standard variable interest rate loan, or you can refix it for a new term. Fixed rate mortgages can often have a higher interest rate at times than a variable rate, but you can escape any rises if the variable rate rises during your fixed rate term.

Advantage - 1 Year Fixed

How do I find out what repayments are for fixed rate loans?

Fixing mortgage payments for 1 year gives you the security of knowing exactly what your repayments will be for 12 months. And finding out exactly how much those repayments will be is simple, even before you sign on the dotted line. The repayments calculator above can give you all the information you need to know exactly what your repayments will be, whether you choose to make payments weekly, fortnightly or monthly. But, our calculators can do much more. They can give you a guide as to how much you may be able to borrow, based on your income and monthly expenses. They can also give you an indication of how much stamp duty you may pay when buying a new home. And they can also help with your budgeting, to give you an indication of how much money you may have left at the end of the month to put towards your 1 Year Fixed Mortgage.

How, and why, do home loan rates differ?

Fixed rate mortgages like this one are not the only type of interest rate loan available. The other is a variable interest rate loan. Variable mortgages have interest rates that can change, depending on a number of factors. The official Reserve Bank cash rate is one variable, as is the price of money for banks and lenders. Variable rates can be lower than fixed rate mortgages at times, but your fixed rate will not increase over the agreed term of the loan, whereas a variable rate may. A variable rate may also drop. Borrowing money for an investment can be a little more risky, so often, as is the case with this 1 Year Fixed Mortgage, the interest rate can be a little higher. Also, make sure you are aware of the comparison rates lenders will promote when marketing mortgages. These rates are designed to give you a big-picture idea of how much the loan can cost, once you include the fees and charges, and any introductory rate finishes. Banks and lenders have to display comparison rates by law, to make it easier for consumers to understand the full costs.

How long is a fixed term?

Most fixed rate mortgages will only be fixed for a short period of time compared to the 30-year period the usual variable rate loans can run for. Most lenders will offer fixed rate loans for up to 10 years. Variable loans also have fixed terms. Our 1 Year Fixed Mortgage will revert to a standard variable rate after 1 year, but you can also extend or refix your mortgage for another agreed term if you wish. You can also look at other options such as a split loan, which allows you to split your loan into both a variable rate and a fixed interest rate term.

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