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FHB Advantage 100% Offset

Austral’s FHB Advantage Plus Home Loan with 100% Offset (for First Home Buyers who qualify for a First Home Buyer Grant in their State)

Our FHB Advantage Plus 100% Offset home loan is a tailored loan for FHBs who qualify for First Homebuyer Grants.

The 100% Offset makes your savings and income work better for you by reducing the monthly interest on your mortgage. An offset account can save you significant interest and reduce your loan term.

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Unique Features of Austral's FHB 100% Offset

Most lenders only offer their borrowers a 100% offset savings account with their variable rate home loans. If fixed rates are low and borrowers wants to lock in the rate the benefits of the offset are effectively cancelled.

Once in fixed rate the major banks generally do not allow you to make additional lump sum repayments of principal unless you pay a break cost penalty on the amount repaid.

Most lenders including the major banks require a rate lock fee to hold the fixed rate from the time  your loan is approved until it settles.

Most lenders do not offer fixed rates, redraw of offset accounts during the construction period of a home (e.g. in house and land package purchases) and often seek a higher interest rate pending completion of the new home.

Most Lenders require a commitment from borrowers purchasing vacant residential land, to commence construction within 12 months.

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Read about the benefits of 100% Offset Home Loans, how 100% offset home loans are structured and how 100% offset mortgages work

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