Our Home Loan and Mortgage Products
VARIABLE RATE HOME LOAN
Utilising a cost effective internet business model that doesn’t have to pay branch overheads or broker commissions simply means QuickDirect’s variable rate home loan is very competitive. It comes with all of the features you expect including unlimited free redraws, salary crediting and flexible repayment options as well as a great rate.
To view our current Variable home loan rate click here.
This QuickDirect Variable loan is the perfect loan if you are:
- A first home buyer
- Wanting to upgrade your home to a more expensive property
- Wanting to renovate your existing home
- Looking for a better home loan deal or consolidating expensive debt
- An investor looking for a competitive variable rate loan
Features include:
| Loan amounts |
Minimum Loan of $50,000. Maximum loan of $2,000,000 (minimum of $25,000 in combination or split). |
| Interest rate type |
Variable rate only. |
| Term |
10 to 30 years. |
| Repayment type |
Principal and Interest (amortising) or Interest only up to 5 years. |
| Combination and splits |
Can split advantage rate up to 4 accounts (will consider more) or combine with Fixed Rate Loan or Line of Credit loans. |
| Repayment options |
Direct Debit or Salary Crediting either monthly or fortnightly.
Internet or telephone transfers from pre-nominated account for additional repayments. |
| Additional repayments |
Allowable with no limit on variable rate loans. |
| Redraw facility |
No minimum redraws via Internet or telephone banking to pre-nominated account (not available on interest only accounts). |
| Withdrawals |
Cash withdrawals not available other than electronic transfers as above. |
| Salary crediting |
Available on all loans. |
| Ability to switch |
Can switch all or part of loan limit to another product. |
| Statement issued |
Bi-annual. |
| Deferred Establishment Fee |
During year 1 1.00% of original loan amount
During year 2 0.80%
During year 3 0.60%
During year 4 0.40%
During year 5 0.20%
Year 6 onward 0.00%> |
| Other Fees |
Nil |
| Substitution |
Can substitute security within loan limit. |