Macquarie Bank Home loans 1.11% Discount!

Posted Monday, 04 February 2013 at 17:16 by Shape Home Loans
Tagged: interest rates | Promotional rate | news
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Macquarie Bank- Discount of 0.96% - 1.11% for the LIFE of the loan

For a limited time only, till 30th of June- we can guarantee a discount for the life of the loan of 0.96% -1.11% off the standard variable rate depending on your loan amount and LVR.

Features of Macquarie bank:

No fee home loan ( Basic home loan)
Package home loan with 100% offset account ( Full featured home loan)
100% offset accounts
Split loans up to 10
Equity release allowed
Unlimited extra repayments
Low fixed rates
Interest only allowed for investors
Trust purchase allowed
Upfront valuation supported

Loans between $150,000- $1,000,000

Loan Ratio ( LVR) conditions	Discount	Rate as of 4th Feb 2013
<80% LVR ( 20% deposit/equity)	-1.01%	5.44%
>80% LVR ( less than 20% deposit/equity)	-0.96%	5.49%

Loans over $1,000,000 ( Case by case)

Loan Ratio ( LVR) conditions	Discount	Rate as of 4th Feb 2013
<80% LVR ( 20% deposit/equity)	-1.11%	5.34%
>80% LVR ( less than 20% deposit/equity)	-1.06%	5.39%

*Total loan amount can be aggregated lending, meaning it can be for more than one security/property.

Example 1: First home buyer @ 90% LVR

After saving up for 3 years, Tanya and John decides to buy their first home with an 10% deposit.

Property value: $450,000

Deposit: 10%

LVR: 90%

Loan amount:$405,000

Standard Macquarie Bank's rate: 6.45%

Discount: -0.96%

Rate: 5.49%

Example 2: Refinance + New pre-approval @ 80% LVR

Sarah has an $520,000 home loan with one of the Big 4 banks secured against a property that she bought two years ago for $650,000. Her interest current rate is 5.71%.

Her property has gone up in value, and has been re-valued at $730,000 and she has also saved up $80,000 cash, she wishes to purchase her first investment property.

Refinance current home loan with an equity release, using a split loan structure.

Loan refinanced: $520,000

New property value: $730,000

Equity at 80% LVR value: $64,000 ( 730x80% - 520)

Equity of $64,000 can be used as deposit towards the new investment property, also since we have organize a split loan the interest paid on this new loan ($64,000) is also tax deducible.

New Investment Property value: $550,000

Deposit: 20%

LVR: 80%

Loan amount:$440,0000

TOTAL loan: $1,024,000

Total LVR: 80%

Standard Macquarie Bank's rate: 6.45%

Discount: -1.11%

Rate: 5.34%

A Saving of $3,122 per year in interest from this refinance/new discounted rate