Wizard Clear Value
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Moneybuddy says
Wizard's Clear Value home loan is a basic variable home loan with a competitive variable interest rate and the option to fix the loan. It's intended for refinancing a residential loan, or buying new owner-occupied or investor residential property. You can borrow up to $750,000 with 90% finance, or $500,000 with 100% finance for up to 30 years. Lender's mortgage insurance is required when the LVR is greater than 80% and the loan is more than $500,000. You can upgrade from the Clear Value home loan to Wizard's Smart Choice Loan, but upgrade fees apply.
The Basics
Interest type -
Headline interest rate -
Max LVR 100%
Annual fee -
The cool stuff: features
Draw down loan progressively -
Insurance details -
Loan is Transferable No
Line of credit available No
Product suits Investor
The Facts & Figures
Introductory rate -
Introductory term -
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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 -
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Comparison rate 7 years -
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Comparison rate 15 years -
Comparison rate -
Minimum loan term -
Maximum loan term 30 years
Min loan amount $50,000
Max loan amount $750,000
Early repayments Yes
Redraw facility No
Repayment holiday No
Ability to split loan Yes
Extra repayments Yes
Offset account available No
Interest only payments No
The ugly stuff: fees
Application fee $100
Valuation fee -
Subsequent valuation fee -
Valuation fee details -
Discharge fee -
Discharge fee details -
Legal fee -
Settlement fee $660
Redraw fee $30
* 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
- Competitive variable rate
- Option to fix the rate
- Option to split the loan into two separate accounts
- Make repayments monthly
- fortnightly or weekly
Cons
- No direct salary crediting available
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