Up

Up Home

Refinance
2yr fixed
90% LVR

5.85%

Interest rate

5.93%

Comparison rate


Ratings

Fixed term options

Unlike in the US, there are no lenders in Australia that offer 20 or 30 year fixed rates for standard residential home loans. Up Up Home offers fixed loan terms between 1 - 5 years.

Selling the property or refinance during the fixed rate term can trigger hefty fees for breaking a fixed rate contract, and fixed rate loans tend to have restrictions on making extra repayments. Before you lock your rate in, you need to be sure that a fixed rate home loan is suitable for your situation.

LVR options

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.

Up Up Home does not offer tier pricing for lower LVR. With Up Home, you can borrow upto $90% LVR.

Fixed

90%

LVR
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Repayment options

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.

Interest only repayment option is not available with Up Up Home for refinance.

Fixed
Paying pricinpal and interest
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Up

Q&As

Does Up Up Home comes with an offset account?

Yes, Up Home comes with a 100% offset account.

A 100% offset account is an account linked to your home loan where you can park your savings and spare cash to reduce the interest you pay. Then, when interest is calculated on your home loan, the balance in your offset account is deducted from the loan amount owing, and interest is only charged on what remains.

What are the costs to apply for Up Up Home?

There is no upfront costs to apply for Up Home

  • Application fee: $0
  • Valuation fee: $0
  • Settlement fee: $0

Are there costs when I exit or refinance to another lender?

There is no discharge fee for Up Home. Which is a good news as most lenders charge a discharge fee range anywhere from $150 to $400 when you exit or refinance out.

Up may also charge you a fixed-rate break cost if you refinance out of Up Home or sell your house before the fixed term ends. It can cost thousands of dollars, and the advantages of breaking the fixed loan won't always outweigh the disadvantages.

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 Up or a mortgage broker just to be sure. This information should be used as a guide only.

Contact a mortgage broker

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