Basic Home Loans

Mortgage Broker

No frills home loan with low interest rates and fees

Basic home loans are perfect for a first home buyer, home buyer or property investor if they do not require all the features attached to variable rate loans or professional packaged loans.

Often these loans come with a discounted interest rate and low up front and or ongoing fees unlike fully featured loans that offer 100% offset Accounts, free redraw, fee free accounts and credit cards.

There are some excellent basic home loans about that allow you to reduce your mortgage just as effective as a loan with all the bells and whistles. Below is a list of features you should look out for.

What to look for

  • Ability to make extra repayments

  • Nil or low up front and ongoing fees

  • Competitive interest rate compared to professional packaged discounts

  • The ability to redraw funds from the loan account without additional cost - aka redraw fees

  • Loans that allow for direct salary crediting salary crediting


  • Competitive interest rate and lower fees.

  • Extra payments can be withdrawn without fees with some lenders.

  • Can be just as effective at reducing interest paid and loan term as fully featured home loans.

  • Overall cost of loan is less than those with a offset facility.


  • May have upfront and ongoing fees.

  • Redraw facility may have redraw fees and minimum redraw amounts.

  • Not as flexible as professional packaged loans.

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