ME’s loans give you plenty of flexibility – your early repayment options will depend on the kind of loan you’ve got. There are several ways to make extra repayments on your home loan

Variable-rate loans

You can pay off a variable-rate ME home loan anytime you want, with no penalty whatsoever. 

Fixed-rate loans

On a ME fixed-rate home loan you can make up to $30,000 of extra repayments during the fixed-rate period. Of course, once your loan reverts to a variable rate, there’s no extra payment limit.

You can still pay down a loan that’s currently on a fixed loan contract, but to do it you’ll need to break your loan contract, which may attract some fees – you can read more about breaking your loan here.

If you’re thinking about paying down your fixed-rate loan early, call us on 13 15 63 and we’ll organise a free quote for you, so you’ll know the costs before you proceed.

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