loans

flexibility of fixed or variable interest rate

You can have part of your loan calculated at a variable interest rate or part calculated at a fixed interest rate. A minimum of $20,000 exists for loans that are split between fixed and variable amounts (i.e. minimum $10,000 fixed and minimum $10,000 variable).

fixed interest rate for up to 3 years

The choice is yours - fix your rate for 1, 2 or even 3 years for consistency.

rates

^ Fixed Loan fixed rates are indicative only. Actual rate will be set at time of funding. Fixed rate will revert to the Basic Home Loan rate at the conclusion of the fixed period unless mecu is advised to re-fix.

* The comparison rate is based on a loan of $150,000 for 25 years. Fees and charges may be applicable. Click on Comparison Rate   to read more. Fixed Loan fixed rates are indicative only. Actual rate will be set at time of funding.

IMPORTANT: The Comparison Rate applies only to the example given. Different amounts and terms will result in different Comparison Rates. Cost such as redraw fees, early repayment fees, and cost savings such as fee waivers, are not included in the Comparison Rate but may influence the cost of the loan.

Mortgage Loans Significant Terms and Conditions

• New loans come with free Loan Protection Insurance up to $120,000 for eligible borrowers (excluding Basic, Fixed and $500k+ Home Loans).
• To qualify for the goGreen Home Loan, the home financed must have an energy rating of 6 stars or more under the Nationwide House Energy Rating scheme . If you are borrowing more than $500k or are a first home buyer you qualify for those product's lower interest rates.
• To qualify for the Premium Home Loan $250k+ or Premium Investment Loan $250K+, the loan amount borrowed must be a minimum of $250,000.
• To qualify for the Premium Home Loan $500k+ or Premium Investment Loan $500K+, the loan amount borrowed must be a minimum of $500,000.
• To qualify for the First Home Buyers Loan, members must be eligible for the First Homeowners Grant.
• Variable interest rates apply to mortgage loan products other than fixed rate loans.
• Loan Establishment Fee $595.
• Maximum Loan Term is 30 years, except for Bridging Loans where the term is 1 year and Interest Only Loans which are 5 year terms.
• A break fee may apply on the Premium First Home Buyers Loan, $250k+ and $500k+ Loan Products (Home & Investment), goGreen Home Loan, Fixed Rate Mortgage Loans and the Basic Home Loan, if the loan is repaid within 3 years.
  
• Full terms, conditions, fees and charges are available on request and on application. Contact mecu for further details.