Finty
MCCA

MCCA Amlak Select Package (With Offset)

Variable rateOffsetRedraw

MCCA's Amlak Variable Package Finance Facility is a no frills facility with a variable rental facility fee, offering flexibility to suit your needs. Borrow up to $3,000,000 (up to 80% LVR), choose principal and profit or profit‑only repayments, and add an optional offset sub-account. The discounted investment rental facility fee is available to customers who have a settled or new owner‑occupied application with MCCA, while the discounted owner‑occupied rental facility fee is available to customers who have a settled or new investment application with MCCA.

Written byDavid Boyd
Interest rate a year, from
6.44%
Comparison rate
6.51%
Upfront fees
$965
Annual fee
Not published
Monthly fee
Not published

Monthly repayment

$600,000 over 30 years

What it would cost

At the lowest rate of 6.44% (variable, live in, principal and interest). The rate you are offered depends on your deposit and the loan you choose, and upfront fees are not included.

Monthly repayment
$3,769
Total repayments
$1,356,755
Interest
$756,755

Rates

Every rate MCCA publishes for this loan. LVR is the loan as a share of the property's value: 80% for a 20% deposit.

RatePropertyRepaymentsLVRInterest rateComparison rate
VariableLive inPrincipal and interestUp to 80%6.44%6.51%
VariableLive inInterest onlyUp to 80%6.55%6.55%

Comparison rates are for an example loan of $150,000 over 25 years. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Fees and features

Fees

Upfront fees
$965
Annual fee
Not published
Monthly fee
Not published

Features

Offset account
Yes
Redraw
Yes
Highest LVR
80%
Loan amount
From $50,000 up to $3,000,000

How it compares

Against the other home loans we compare, for a home you live in with a 20% deposit. Typical means the middle half of them.

Variable rate

6.44%

For a home you live in, paying principal and interest. Typical is 6.62%.

Comparison rate

6.51%

For the same rate. Typical is 6.70%.

Upfront fees

$965

Typical upfront fees are $600.

Smallest deposit

20%

Most loans need at least 10% of the price.

Pros and cons

Pros

  • An offset account. Money in it is taken off your balance when interest is worked out, so your savings and pay cut the interest while staying easy to reach.
  • Extra repayments. Paying more than the minimum pays the loan off sooner and cuts the interest you pay.
  • Redraw. You can take back extra repayments later if you need the money.
  • No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.
  • Interest only available. Some investors use it to keep repayments down for a few years, though the balance doesn't fall in that time.

Cons

Nothing stands out.

Similar home loans

Home loans from other lenders with a similar starting variable rate, for a home you live in with a 20% deposit.