BEAT Basic variable features
BEAT’s Basic Variable mortgage guarantees to beat any other home loan interest rate* currently on offer* with the option of a Visa Debit card. And what’s more, there are no upfront or ongoing fees. The table below provides more detailed information about our low interest rate mortgage. If this loan looks good to you, contact your local BEAT representative or complete the form today.BEAT FAQs
You probably have questions about BEAT, our home loans and mortgage solutions in general. You’re not alone! Here is a list of common questions and answers that should help you choose the best loan for your needs. For more information contact your local BEAT representative or complete the form today.
| Basics | |
| Loan Term | Any loan term between 5 and 30 years. |
| Minimum Loan Amount | $50,000. |
| Maximum Loan Amount | You can borrow up to $1,000,000 depending on the value of your property. |
| Lenders Mortgage Insurance | Is required if you borrow more than 80% of the value of your property. What is Lenders Mortgage Insurance? |
| Repayments | Interest only (1-5 years) or principal and interest. |
| Repayment Frequency | Weekly, fortnightly or monthly. |
| Features | |
| BEAT Guarantee | We'll beat your home loan interest rate. Guaranteed.* *Based on comparison rates for existing or approved loans for new customers. Excludes fixed rates and limited time offers. Lending criteria apply. |
| Additional Repayments | Anytime, to help you save on interest costs and pay off your loan more quickly. |
| Visa Debit Card | You can link a Visa debit card to your BEAT Basic Variable Home Loan to make redraws or purchases. |
| Redraw Facility | Yes, you can access additional loan payments you have made. |
| Minimum Redraw Amount | With our BEAT Basic Variable Home Loan the minimum you can redraw is $1000. If you would like more flexibility see our BEAT Standard Variable Home Loan. |
| Ability to split loan | There is no option to spilt your loan account with our BEAT Basic Variable Home Loan. If you would like the flexibility to spilt your loan account for different loan purposes then see our BEAT Standard Variable Home Loan. |
| Exit Fees | You can repay your loan in full at any time. Fees and charges may apply if you repay your loan early. |
| Portability | Yes, you can ask to keep the same loan if you sell your property and buy a new one, without having to apply again. Our normal credit criteria will apply. |
| Loan Variation | You are able to increase your loan amount, change from principal and interest to interest only repayments or change the security we hold on your loan. Fees and charges may apply. |
| Comparison Rate Schedule | Download Comparison Rate Schedule here |
| Fees | |
| Application Fee | Nil |
| Settlement Fee | Nil |
| Valuation Fee | Nil |
| Legal Fees | Nil |
| Ongoing Fees | Nil |
| Variation Fee | $750 |
| Redraw Fee | With our BEAT Basic Variable Product there is a $50 fee for every redraw. If you would prefer a no fee option then see our BEAT Standard Variable Home Loan. |
| Visa Debit Card Monthly Fees | $10 per month for 5 transactions then $2.50 per transaction. |
| ATM charge | If you use your VISA Debit card for ATM transactions, the ATM owner will charge you a fee. The fee will be shown on the screen and you can choose whether to proceed and pay the fee or cancel the transaction and no fee will be charged. |
*Applies to the BEAT Basic Variable Product, based on comparison rates for existing or approved loans for new customers. Excludes fixed rates and limited time offers. Lending criteria apply.