Breaking your home loan contract.

Things change: a home loan contract that worked for you in the past might not work for you now.

If that’s the case, it’s possible to break your contract – but doing so will involve some fees.

When it comes to ME’s home loans, most loan breaks involve ending a fixed-rate loan contract early, so that you can change your loan contract or pay your loan off early.

Break costs

The fees associated with changing your loan contract are called ‘early repayment charges’ (can also be known as ‘break costs’ and 'prepayment fees'), and the fees charged can vary greatly depending on the circumstances of the loan.

If you’re thinking about breaking your home loan contract, get in touch on 13 15 63 and we’ll prepare a fee quote for you.

Where the fixed rate period started when your loan was a CompleteME or EconoME home loan, refer to 6. Fixed rates within the Home Lending Terms and Conditions.

Where the fixed rate period started before your loan was changed to a CompleteME or StandardME home loan during the transition to ME Go, refer to Breaking your fixed loan: How prepayment fees work.