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Wizard Rate Breaker Loan by Wizard
Wizard Rate Breaker Loan
Institution : WizardTheir Blurb
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Our View
The Wizard Rate Breaker Loan is all about the low rate. It boasts one of the lowest variable interest rates in Australia, but without many features or much flexibility. The loan is only available to owner-occupied residential property purchasers and is for loans up to $400,000 with 80% finance. You can't make additional repayments with the Rate Breaker Loan, or convert to a fixed or split loan, but if it's a low fee you're after this loan has one of the lowest.
Pros
- One of the lowest variable rates of any loan in Australia
Cons
- No interest-only repayments available
- No option to make or redraw extra repayments
- No options for payments schedule - payments must be made monthly
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Wizard Product Types
| The Facts & Figures | |
|---|---|
| Min Loan Amount | $ 100000.00 |
| Repayment Holiday | No |
| Introductory Term | - |
| Max Loan Amount | $ 400000.00 |
| Ability to Split Loan | No |
| Max LVR | 80.00 % |
| Loan Type | Basic variable rate loan |
| Extra Repayments | No |
| Minimum Loan Term | - |
| Early repayments | No |
| Offset Account Available | No |
| Maximum Loan Term | 30.00 years |
| Redraw Facility | No |
| Special offers | - |
| The cool stuff: features | |
| Settlemet Fee | - |
| Redraw fee | - |
| Application Fee | - |
| Interest only Payments | No |
| Administration Fee (monthly) | - |
| Draw Down Loan Progressively | - |
| Valuation Fee | - |
| Loan is Transferable | No |
| Legal Fee | - |
| Line of Credit Available | No |
| Required Insurance | - |
