The Capricornian
No Frills
Owner Occupied Variable Principal & Interest 0 Years 97% LVR
5.89%
Interest rate
5.94%
Comparison rate
Ratings
★ ★ ★ ★ ★ (1 reviews)
About No Frills
Key Features
- While it does not have the convenient that comes with an offset account, but $No Frills comes with a redraw facility. A redraw facility works similar to an offset account. If you put the same amount into home loan as extra repayments, your interest bill will reduce by the same amount, but still have access those extra funds if you need them later.
Interest only loans have traditionally been tailored to investors so they can reduce their mortgage repayments and maximise their tax benefits and overall return on investment (ROI). However, getting home loan with interest only (IO) has its place and some lenders are willing to consider your application if you can provide valid reasons.
LVR is an acronym for Loan-To-Value Ratio. The LVR is the amount you are borrowing against the property value being used as security, represented as a percentage.
Fees & Costs
- The Capricornian charge a discharge fee of $300, which covers the cost for removing the mortgage that has been registered on the title of your property.
- The Capricornian charge a discharge fee of $600, which covers the cost for removing the mortgage that has been registered on the title of your property.
- There is upfront costs of $600 to apply for No Frills, with no ongoing account keeping fees.
Borrowing Limits
- The Capricornian No Frills does not offer tier pricing for lower LVR. With No Frills, you can borrow upto $97% LVR.
Eligibility
- Interest only repayment option is not available with The Capricornian No Frills for buying next home.
- Interest only repayment option is not available with The Capricornian No Frills for refinance.
IMPORTANT:Lenders change their policy from time to time so this information is current only accurate at the time that it was written. You should always check with The Capricornian or a mortgage broker just to be sure. This information should be used as a guide only.
Other rate options for No Frills
Frequently Asked Questions
Are there costs when I exit or refinance to another lender?
The Capricornian charge a discharge fee of $300, which covers the cost for removing the mortgage that has been registered on the title of your property.
Are there costs when I exit or refinance to another lender?
The Capricornian charge a discharge fee of $600, which covers the cost for removing the mortgage that has been registered on the title of your property.
Does The Capricornian No Frills comes with an offset account?
No, No Frills does not come with an offset account. While it does not have the convenient that comes with an offset account, but $No Frills comes with a redraw facility. A redraw facility works similar to an offset account. If you put the same amount into home loan as extra repayments, your interest bill will reduce by the same amount, but still have access those extra funds if you need them later.
What are the costs to apply for The Capricornian No Frills?
There is upfront costs of $600 to apply for No Frills, with no ongoing account keeping fees. Application fee: $600
Fees
- Application fee
Important Information
Lenders change their policy from time to time so this information is current only accurate at the time that it was written. You should always check with The Capricornian or a mortgage broker just to be sure. This information should be used as a guide only.