1. Interest rates are current as at
03-Jul-2024 and is are subject to change. The variable interest rate may include a discount or margin that is applied to the product’s variable reference rate. Discounts are offered to new home loan applications only. The discount cannot be used with any other rate promotion. Existing applications, internal refinances, top ups, additional advances or variations of existing home loans are not eligible. We may change or withdraw any discount or margin at any time.
2. Home Loan comparison rates are based on a loan of $150,000 for a term of 25 years, repaid monthly. For variable loans with interest only repayments, the comparison rates are based on an initial 5 year interest only period. WARNING: These comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in different comparison rates. The comparison rates for fixed loans with interest only repayments are based on the interest- only period being equal to the fixed rate term.
3. A current fixed rate can be secured for 90 days by paying a $500 rate lock request fee. At settlement you will get the better of the two rates.
4. The repayments quoted in this calculator are based on the inputs that you have populated and should be used as a guide only. When calculating repayments for a variable interest rate, we have assumed that the rate stays the same for the duration of the loan term, as we cannot predict future rate changes. The repayments quoted for fixed interest rates are only applicable for the duration of the initial fixed rate period. Any applicable fees and charges or other amounts that may be charged to your loan (e.g. Lenders Mortgage Insurance if you are borrowing more than 80% of the value of your property) have not been included in these calculations.
5. All postcodes accepted - Subject to LVR restrictions; other conditions may apply.
6.
ME Cashback terms and conditions
A $3,000 cash back offer is available on refinances of an existing home loan from another financial institution with a minimum new lending of $700,000 and a loan to value ratio (LVR) of up to 80%. To be eligible for this offer, applications must be received from 15 June 2024 and settle within 120 days of the loan application date.
This offer is not available where any of the loan proceeds are for the refinance, restructure, switches, or top ups of home loans from ME or from other lenders within the Bank of Queensland (BOQ) Group which includes BOQ, BOQ Specialist and Virgin Money (Australia). This offer is available to Owner Occupier and Investors on all ME home loan products but is not available to applications for owner-occupied loans with interest only repayments. A home loan application involving both a purchase and refinance is not eligible.
Only one cash back will be paid per qualifying home loan application regardless of the number of borrowers. In the case of multiple qualifying applications, only one cash back will be paid per separate security property. The cash back amount will be paid within 60 days of loan settlement into the ME Everyday Transaction Account (ETA) held by the borrower first listed on the application. In the event the first listed borrower doesn’t hold an ETA, the cash back will be credited to the home loan it applies to. Terms, conditions, fees, and charges apply. Applications are subject to credit approval. The offer can be withdrawn or varied at any time.
7. 100% parental leave for servicing must be Government or Employer paid income before returning to work. Understanding of capacity for loan repayment(s) during any unpaid period of the parental leave must be demonstrated and verified with supporting document. This may include but is not limited to savings or investments held (only applicable for unpaid period). Meeting this requirement, ME will consider return to work income too.
8. Up to $7,500 add-back for novated lease Limited to the lesser of $7,500 or the annual lease repayments.
9. 100% of overtime can be used for Doctors, Nurses & Medical/healthcare professionals and frontline and key workers in healthcare, outpatient, residential care, social assistance and disability support services, Primary and Secondary Teachers, and pre-school/early childhood educators including kindergarten and child care services, Ambulance Officers, Fire Fighters and Police Officers, Australian Defence Force employees, Australian Border Force employees and Corrective Services employees within correctional centres, detention centres and prison services. Otherwise, overtime used at 80%.
10. Refinancing with multiple debts - Debts being consolidated must show good conduct, with no more than one missed payment over the last six months for home loans and personal loans and three months for credit cards.