Freedom Fixed – Owner Occupied Fact Sheet

The Fixed Owner Occupied home loan is aimed at those looking for lock in their loan for greater budgeting and predictability. The Fixed account loan comes with options to make additional repayments of up to $20,000 per year. This loan is perfect for those that do not want to worry about their loan and to spend more time with their lives.

Product Overview

Maximum Loan amount Single Security: $5,000,000
Minimum Loan amount $50,000
Loan to Value Ratio (LVR) Up to 95%
Loan Term 30 Years
Loan Options Principal and Interest loans (P&I), and Interest Only (I/O)
Credit History Clear Credit History
Lenders Mortgage Insurance Payable when borrowing greater than 80% Loan to Value Ratio (LVR)
Loan Purpose Purchase or refinance of an owner occupied property
Cash Out Limited to 20% security value and maximum of $100,000
Acceptable Securities Categories 1&2
Residential properties up to 25 acres
Residential properties greater than 50sqm
(exclusive to balconies and parking)
Guaranteed Rate Option No rate lock fee applies to secure fixed rate
Split Loans Available
Redraw N/A
Offset Available at $10 per month
Repayment Frequency Principal & Interest loans – weekly fortnightly or monthly repayments
Interest Only – monthly repayments
Voluntary Repayments Up to $20,000 per year above minimum repayments may be made without penalty
Transaction Fees Unlimited free internet & Phone banking transactions available.
Free Transactions for Online banking transfers, Phone Banking transfers,
BPay and direct debits

Set up Fees

Application Fee $0 ($250 rebated)
Valuation Fee $0
Solicitor Documentation Fee $0
Yearly Fee $0
Offset Fee (optional) $10 per month
3rd party solicitor costs at cost
3rd party government costs at cost

Post Settlement Fees

Loan Account Variation Fee $150
Loan Facility Variation Fee $300 plus Third Party Costs*
Settlement Cancellation Fee $150
Manually Redraw $25
Ad Hoc Statement Fee $15
Discharge Administration Fee $0 when with Freedom Lend over 5 years
$325 when less than 5 years

* Third Party Costs are costs incurred by services providers external to Freedom Lend and will vary depending on the nature of the service and request. These costs are passed on directly to the applicants.