Get on the right road to your first home.

Get on the right road to your first home.

The journey to home ownership can be long and challenging – especially when it’s your first – which is why we’ve created a home loan offer just for you.

With a low-deposit offer, reduced interest rates and discounts on LMI (and of course no annual fees) on our Flexible Home Loan, it’s all the help you need to get home sooner.

These offers apply only to new Flexible Home Loan without package applications submitted between Monday 28th September and Friday, 20 November 2020 that settle by Friday, 26 February 2021.

25% discount on Lenders Mortgage Insurance (LMI)4

Saving a 20% deposit (not to mention other costs such as stamp duty and transfers) can be a huge barrier to buying in Oz, so we're offering eligible4 first home buyers a 25% discount on Lenders Mortgage Insurance (LMI).

Lender’s Mortgage Insurance is a type of insurance you’ll have to pay if you borrow more than 80% of the property value.

Talk home loans

Discounted rates with our Flexible Home Loan5.

For eligible first home buyers5, we’ve slashed our rates on our variable rate Flexible Home Loan for owner occupiers paying principal and interest repayments#. We’ve got different rates for different deposit sizes. 

Our Flexible Home Loan – no ongoing monthly fees , no annual fees, no brainer.

Other features include:

Offset account – Let your savings reduce your interest with a 100% offset account on your variable rate home loan.

Redraw – In a twist? Get cash for emergencies from available funds if you’re ahead on payments (minimum $500).

Extra repayments – Whiz ahead of your payment schedule, with extra repayments reducing the interest you pay. You can make as many extra repayments as you want on a variable rate loan and on a fixed rate loan you can make extra repayments of up to $30,000 over the fixed rate period without incurring any fixed rate break cost.

Let ME give you courage. Book in your chat with a home loan specialist and see how much you could save.

Let ME give you courage. Book in your chat with a home loan specialist and see how much you could save.

Privacy statement.

Privacy statement.

We’re collecting your personal information so we can respond to your request, and we’ll retain your details so we can keep in touch. We may call, or send you further information relating to your enquiry, or to promote other products or services that may be of interest.

You can ask us not to contact you either in person or by unsubscribing in the communications we may send. If you’ve previously opted out from marketing contact this request will override earlier instructions.

For details about how we handle your personal information, or how you can access or correct this information or raise any concerns refer to ME Privacy and Credit Reporting Policy.

The legal stuff.

The legal stuff.

1. Interest rate:
Interests rates current at 27-Oct-2020 and are subject to change.

2. Comparison rate warning:
Comparison rate based on a Flexible Home Loan of $150,000 for a term of 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. 

Different terms, fees or other loan amounts might result in a different comparison rate.

3. Loan to Value Ratio (LVR): 
The LVR is the loan amount divided by the value of your property (determined by ME at credit assessment) multiplied by 100. 

4. LMI discount eligibility criteria and conditions:
Only available to First Home Buyers (FHBs) for the purposes of buying or constructing their first residential dwelling solely for owner occupation (however, excludes vacant land purchases). Where there is more than one applicant applying for a home loan, all applicants need to be FHBs, (applicants can own/have owned an investment property, provided they do not/have never owned an owner occupied one). 

Only available for purchases and limited to one property per application. Not available for Approval in Principle (AIP) applications, top-ups, variations and refinances.

The discount is calculated from the standard LMI rate chart offered to ME by its mortgage insurer, QBE Lenders’ Mortgage Insurance Limited (QBE) and takes the existing FHB discount to 25%.

A maximum LVR of 95% (inclusive of LMI applies) with a maximum loan amount of $1.2 million.

5. Flexible Home Loan discounted interest rates eligibility criteria and conditions:
Only available to First Home Buyers (FHBs) for the purposes of buying or constructing their first residential dwelling solely for owner occupation (includes vacant land purchase). Where there is more than one applicant applying for a home loan, all applicants need to be FHBs, (applicants can own/have owned an investment property, provided they do not/have never owned an owner occupied one).

Only available for purchases and limited to one property purchase per application and cannot be used in conjunction with any other home loan interest rate discount offer.

Not available for top-ups, variations and refinances.

Only available for purchases and limited to one property per application and cannot be used in conjunction with any other home loan interest rate discount offer.

A maximum LVR of 95% (inclusive of LMI applies). 

Calculated based on our current Flexible Home Loan variable reference rate for owner occupiers making principal and interest repayments (currently 4.47%p.a.) and applying the following discounts: 

  • 1.89% p.a. where LVR is less than or equal to 80%.
  • 1.68% p.a. where LVR is greater than 80% and less than 90%.
  • 0.88% p.a. where LVR is greater than 90%.  
Terms, conditions, fees and charges apply. All applications are subject to credit approval.