Citibank Basic Mortgage
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Moneybuddy says
The Citibank Basic Mortgage is the bank's Basic Variable loan. You can split this loan up to 4 times to guard against rate rises, and take advantage when variable rates lower. You can also make unlimited redraws to access cash when you need it. Portability means you can take the loan with you when you buy a new property. Make interest only payments monthly and make extra payments without penalty.
The Basics
Interest type -
Headline interest rate -
Max LVR 100.00%
Annual fee -
The cool stuff: features
Draw down loan progressively No
Insurance details -
Loan is Transferable Yes
Line of credit available Yes
Product suits -
The Facts & Figures
Introductory rate -
Introductory term -
Interest rate 1 year -
Interest rate 2 years -
Interest rate 3 years -
Interest rate 4 years -
Interest rate 5 years -
Interest rate 7 years -
Interest rate 10 years -
Interest rate 15 years -
Comparison rate 1 year -
Comparison rate 2 years -
Comparison rate 3 years -
Comparison rate 4 years -
Comparison rate 5 years -
Comparison rate 7 years -
Comparison rate 10 years -
Comparison rate 15 years -
Comparison rate 7.66%
Minimum loan term -
Maximum loan term 30 years
Min loan amount $50,000
Max loan amount $4,000,000
Early repayments No
Redraw facility Yes
Repayment holiday No
Ability to split loan Yes
Extra repayments Yes
Offset account available No
Interest only payments Yes
The ugly stuff: fees
Application fee $399
Valuation fee -
Subsequent valuation fee -
Valuation fee details -
Discharge fee -
Discharge fee details -
Legal fee -
Settlement fee $250
Redraw fee $0
* Important note: All information provided by advertiser or taken from advertiser website and correct at time of publishing. If this information is incorrect, please contact us.
Pros
- Unlimited redraws
- Line of credit
- Interest only repayments
Cons
- No 100% offset
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