Basic Home Loan
- Basic home loan products removes the bells and whistles in exchange for a comparatively lower interest rate, lower or no ongoing fees and reduced or waived application fee.
- Basic home loans have minimal features and generally doesn’t have offset facility, ATM card, cheque book or Bpay.
Basic loans are not suitable for all applicants, generally speaking the facility will not offer the same special interest rate discounts for people borrowing over $1,000,000. Simple loans are most suited to:
- Loan amounts under $250,000: With a basic loan, you get the benefit of a lower standard variable rate even though you don’t qualify for discounts under a profession loan package.
- Don’t need bells and whistles: With a basic loan you only pay for the loan facility. It is perfect for people who don’t need a credit card, offset account, additional cheque account, access to ATM card, ability to use Bpay facility.
- Simplicity: Anyone who wants a basic product and easy to use solution should apply for a basic loan.
Talk to our Everrich Finance team and we can recommend a lender suitable for you.