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Find your ideal investment property with our competitive variable rate
The rate above includes a honeymoon discount of 0.60%p.a. for 2 years
Investment, variable, principal & interest, LVR 70% or less.
Special Discount Rate is available for new business only.
Click Interest Rates below for LVR >70% loans.
A variable residential investment loan ideal for both experienced and first time investors. Benefit from a variable interest rate and take advantage of flexible repayment options of weekly, fortnightly or monthly. Extra repayments are allowed without penalty.
The rate is reduced if the loan-to-value ratio (LVR) is <= 70% (see rates below). LVR is the amount you are borrowing represented as a percentage of the value of the property you are buying e.g. $400,000 loan divided by $500,000 property value is 80%.
| Features | LVR <=70% | LVR > 70% |
| Repayment Arrangement | Principal & Interest | Principal & Interest |
| Minimum amount | $50,000 | $50,000 |
| Maximum amount | 70% of property value. | 80% of property value. 95% of property value with mortgage insurance |
| Loan period | Up to 30 years | Up to 30 years |
| Repayment frequency | Weekly, fortnightly or monthly | Weekly, fortnightly or monthly |
| Interest only available | Yes - click here for more info | Yes - click here for more info |
| Additional repayments accepted | Yes | Yes |
| Redraw available | Yes | Yes |
| Redraw Fee | $0 | $0 |
| Minimum redraw amount | No minimum | No minimum |
| Offset account available | Yes | Yes |
| Offset fee | $150 p.a. | $150 p.a. |
| Establishment fee | $350 | $350 |
| Bridging Establishment fee | N/A | N/A |
| Monthly fee | $0 | $0 |
| Annual fee | $150 | $150 |
| Early break fee | No | No |
| Investment Home Sweet Home Loan | LVR | Interest rate p.a. | Comparison rate p.a. | Standard Rate p.a. |
| Principal & Interest | <=70% | 5.39% p.a. | 6.09% p.a. | 5.99% p.a. |
| Principal & Interest | >70% | 5.54% p.a. | 6.24% p.a. | 6.14% p.a. |
Find the answer to your frequently asked questions here
The amount you can borrow for an investment loan is dependent on several factors such as (but not limited to):
Would you like to calculate how much you may be able to borrow? Use our Borrowing Power Calculator to find out.
We're here to help, get in touch today by phone, in person or complete our loan enquiry form to arrange for someone to contact you
Note: The results from the calculators should be used as an indication only. Results do not represent either quotes or pre-qualifications for a loan.
Deposit
The biggest initial cost is the deposit. This could range from 5% and above of the value of the property.
Stamp Duty
Stamp duty is a tax on written documents and on certain transactions including:
Stamp duty is imposed by state and territory governments and the rate of stamp duty varies according to the type and value of the transaction involved.
Registration fees
Registration fees are payable on a property purchase and on a mortgage.
Whenever a property changes hands, the change of ownership must be recorded with the appropriate State Titles Office. A document known as a Transfer of Land must be lodged, the cost of which varies in each State/Territory. Please contact your solicitor/conveyancer who should perform this task on your behalf.
There is also a government charge to register your mortgage document. We will pay the applicable state authority on your behalf. You will be charged at cost.
Legal Fees
Legal expenses for the average home purchase include:
Searches and inspections
Contracts should never be exchanged until the necessary searches and inspections have been completed. Searches and inspections may include the following:
Title search
A Certificate of Title obtained from the Titles Office by your solicitor/conveyancer provides details of who owns the property and who else has an interest in it. This is a good way to research if there are any mortgages, caveats, restrictive covenants etc on the property which would affect the transfer of title.
Building inspection and pest report
The report completed by your building inspector will detail any building flaws, e.g. structural issues with the building or roof, damp etc. The pest report should detail any evidence of pest infestation. It will enable you to assess the cost of any required treatment.
Your loan must be secured by a registered mortgage over a residential property.
Security is a way the lender ensures that the loan is repaid. Normally the security offered is the property the borrower is borrowing for. The security could be a house or apartment.
In the unlikely event a borrower is in severe financial difficulty and can’t pay their loan, the security (house or apartment) could be sold by the lender to recoup the amount that’s outstanding on the loan.
Speak to a Horizon Bank lending specialist and let us help you on your journey.
As is required when purchasing an owner occupied house, there is insurance needed to be taken out on the property. This can be home & contents insurance or Landlords Insurance. When you aren’t living in a property it’s hard to protect it, so getting investment property insurance has been designed to do it for you. With Landlords Insurance you can have peace of mind knowing that the insurance helps to cover the costs if a tenant causes damage, steals from you or defaults on rent payments (optional cover).
We are pleased to offer our members a range of insurance policies through CGU Insurance.
Get in touch today to get a quick quote on Landlords Insurance.
