Freedom Variable – Owner Occupied Fact Sheet

The Variable home loan is aimed at those looking for greater flexibility with their loan. The Variable account comes with a 100% offset account which allows for additional lump sum payments and higher loan repayments. This loan is perfect for those looking for greater flexibility within their lives.

Product Overview

Maximum Loan amount Single Security:
$1,500,000 (80% LVR)
$850,000 (95% LVR)
Loan to Value Ratio (LVR) Up to 95%
Loan Term 30 Years
Loan Options Principal and Interest loans (P&I) and Interest Only
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
Equity 5% genuine savings
Acceptable Securities Categories 1&2
Residential properties up to 25 acres
Residential properties greater than 50sqm
(exclusive to balconies and parking)
Split Loans Available. Up to 4 splits
Redraw Available
Offset Available
Repayment Frequency Weekly, fortnightly or monthly repayments
Voluntary Repayments Extra repayments may be made at any time without penalty
Transaction Fees Unlimited free internet & Phone banking transactions available on your offset account.
Free Transactions for Online banking transfers, Phone Banking transfers,
BPay and direct debits

Set up Fees

Application Fee $385
Valuation Fee $250 or at cost
Solicitors Fee $300 or at cost
Yearly Fee $0
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 $300
Manually Redraw $25
Ad Hoc Statement Fee $15
Discharge Administration Fee $0 when with Freedom Lend over 5 years
$535 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.