Interest Only Loan Fixed for 1 year
Our Interest Only option offers you flexibility on your home loan.
Category: Home Loans Last Updated November 13, 2023 Effective May 3, 2024
General Lending Rates
Rates listed below are for a VARIABLE P&I product. Additional Information
Interest Rate
5.75% PA
5.75% PA
Comparison Rate
6.22%PA*
6.22%PA*
Product rates will vary depending upon your financial position< LVR, and other criteria. The product may also vary depending upon the rate type, repayment type, or loan purpose. We encourage you to contact us for a full understanding of the product and terms.
Product Features
- Redraw
- Offset
- Unlimited Txns
- Digital Banking
- Npp Enabled
- Npp Payid
- Notifications
- Other Additional Information: Additional repayments. Unlimited additional repayments and early payout options. Early payout incurs break costs.
- Other Additional Information: Automatic Repayments can be set up from salary, LCU account, or external account
- Other Additional Information: No ongoing Fees. No annual, monthly or weekly fees
- Other Additional Information: Family Guarantee. Need help with your deposit? Talk to LCU about getting the bank of mum and dad to help out.
- Other Additional Information: Interest calculated daily and applied monthly
- Other Additional Information: Repayment type Interest Only
Product Eligibility
- Natural Person
- Residency Status - At Least One Borrower Must Be An Australian Resident.
- Min Age - 18.
- Employment Status - Income Required To Service Loan. Applicant Must Meet Lcu Lending Criteria.
- Other Additional Information: Security on Australian Residential Property (1st mortgage)
- Other Additional Information: Maximum borrowing capacity (LVR) is 80% of valuation, 70% for land or rural properties, with no LMI or 95% with LMI
- Other Additional Information: Minimum loan term is 1 year
- Other Additional Information: Loan will be renegotiated at the end of the term - max term 30 years.
- Other Additional Information: Must be a shareholder owning a $10 share. Each shareholder holds an equal share regardless of their balance. Shareholders have a say in how we are run. "Own your Bank". $10 share is refunded if you choose to close your account.
Bank Fees and Charges
- Valuation Fee (Variable), Amount: 0.00.
- Solicitors Fees (Variable), Amount: 0.00.
- Registration Fees (Variable), Amount: 0.00.
- Pexa Electronic Lodgement Fee (Variable), Amount: 0.00.
- Contract Variation Fee (Event), Amount: 200.00.
- Mortgage Discharge Fee (Event), Amount: 200.00.
- Mortgage Discharge Solicitors Fee (Variable), Amount: 0.00.
- Ipex Transfer Fee (Variable), Amount: 0.00.
- Bank Cheque For Settlement (Variable), Amount: 0.00.
- Lenders Mortgage Insurance (Variable), Amount: 0.00.
- Other Certificates And Reports (Variable), Amount: 0.00.
- Land Title Search (Variable), Amount: 0.00.
- Consent For A Second Mortgage (Variable), Amount: 0.00.
Limitations & Restrictions (Constraints)
- Min Limit of 50000.00
- Max Limit of 2800000.00
…
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