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Discount Variable - Owner Occupied

Enjoy a low rate home loan with no monthly administration fee, the ability to make additional repayments and free online redraw.

Home loansBank updated 13 Oct 2026
Product page ↗Fees and pricing ↗Terms ↗

At a glance

Variable (owner occ. P&I)
6.24%6.25% comparison
Max LVR
95%
Features
redraw, extra repayments

How it compares

This home loan in ink, against the best that every other institution publishes for anyone to apply for. Each figure is counted the same way for all of them.

This home loan: 6.34%Every other institution's lowest, 103 in all

Owner occupier, principal & interest, 80% LVR. One dot per institution, at its lowest variable home loan rate anyone can apply for; hover or tap a dot for its name.

RateThis home loanBest anywhereTypical institutionWhere it sits
Variable home loanOwner occupier, principal & interest, 80% LVR6.34%5.93%SCCU's BROKER HOME LOAN6.38%of 104 institutions39th lowest of 104, level with 10 others

Rates

Every rate Heritage publishes for this home loan, 9 in all.

Variable rate by LVR

Owner occupier, principal and interest, the lowest rate published for each band of the loan's share of the property's value

  1. ≤70%6.24%
  2. 70–80%6.34%
  3. 80–90%6.74%
  4. ≤95%8.44%
  5. 90–95%7.04%
Variable rate for the band
TypeApplies toTermBandRateComparisonConditions
VariableLVR up to 70%. Loan amount $20,000 - $699,999.Owner occupied, P&I-≤70% LVR, $20,000–$699,9996.24%6.25%-
VariableLVR<=70%. Loan Amount >=$700,000.Owner occupied, P&I-≤70% LVR, $700,000+6.24%6.25%-
VariableLVR<=95%. Loan Amount >=$20,000.Owner occupied, P&I-≤95% LVR, $20,000+8.44%8.44%Reference Rate
VariableLVR 70.1% - 80%. Loan Amount $20,000 - $699,999.Owner occupied, P&I-70–80% LVR, $20,000–$699,9996.34%6.35%-
VariableLVR>70.1% - 80%. Loan Amount >=$700,000.Owner occupied, P&I-70–80% LVR, $700,000+6.34%6.35%-
VariableLVR 80.1% - 90%. Loan Amount $20,000 - $699,999.Owner occupied, P&I-80–90% LVR, $20,000–$699,9996.74%6.74%-
VariableLVR 80.1% - 90%. Loan Amount >=$700,000.Owner occupied, P&I-80–90% LVR, $700,000+6.74%6.74%-
VariableLVR 90.1% - 95%. Loan Amount $20,000 - $699,999.Owner occupied, P&I-90–95% LVR, $20,000–$699,9997.04%7.04%-
VariableLVR 90.1% - 95%. Loan Amount >=$700,000.Owner occupied, P&I-90–95% LVR, $700,000+7.04%7.04%-

Rate changes

9 changes logged, newest first.

DateRateWasNowChange
13 Oct 2026Variable, Owner occupied, P&I, ≤70% LVR, $20,000–$699,9995.99%6.24%up 0.25
13 Oct 2026Variable, Owner occupied, P&I, ≤70% LVR, $700,000+5.99%6.24%up 0.25
13 Oct 2026Variable, Owner occupied, P&I, ≤95% LVR, $20,000+8.19%8.44%up 0.25
13 Oct 2026Variable, Owner occupied, P&I, 70–80% LVR, $20,000–$699,9996.09%6.34%up 0.25
13 Oct 2026Variable, Owner occupied, P&I, 70–80% LVR, $700,000+6.09%6.34%up 0.25
13 Oct 2026Variable, Owner occupied, P&I, 80–90% LVR, $20,000–$699,9996.49%6.74%up 0.25
13 Oct 2026Variable, Owner occupied, P&I, 80–90% LVR, $700,000+6.49%6.74%up 0.25
13 Oct 2026Variable, Owner occupied, P&I, 90–95% LVR, $20,000–$699,9996.79%7.04%up 0.25
13 Oct 2026Variable, Owner occupied, P&I, 90–95% LVR, $700,000+6.79%7.04%up 0.25

Each change is logged the night it appears in the rates People First and Heritage Bank publishes. See how every lender answered the RBA on the rate tracker.

Fees

34 fees published, grouped by when they're charged.

  1. When you take it out$10Cheque Fee
  2. While you hold itNo fee published
  3. When you close it or pay it off$345Loan Finalisation Fee

When you take it out1

  • Cheque Fee
    $10

When particular things happen20

  • Capital reduction recalculation fee
    $75
  • Change of term fee
    $75
  • Collateral Security Preparation fee

    Payable when taking security over a new Collateral Security Property (any security other than the first new security), on application.

    $100
  • Consent Fee
    $200
  • Default Fee

    Every month until not in default

    $30
  • Direct Debit dishonour fee
    $10
  • Document/Record Search fee
    $12
  • Enforcement Fee
    $20
  • Guarantor Fee

    Payable for having a guarantee listed as security on your loan.

    $200
  • Monthly fee
    No fee
  • Partial Release Assessment fee
    $100
  • Partial release processing fee
    $220
  • Production Fee

    if Heritage is required to produce a security document to the State's Land Titles Authority or agency

    $100
  • Redraw Administration Fee

    while you do not meet the package eligibility criteria & not completed online

    $20
  • Renegotiation fee
    $250
  • Special Request Transaction Listing Fee
    $7.50
  • Substitute Security Fee
    $450
  • TELEGRAPHIC TRANSFER FEE (PEXA Settlements)

    Payable to ANZ Banking Group or Westpac Banking Corporation on Settlement if any of the amount of credit is telegraphically transferred.

    $35
  • Telegraphic Transfer Fee

    Payable if money lent to you is telegraphically transferred within Australia.

    $30
  • Trust/Company Document Examination Fee

    Payable on application for trust/company structures

    $250

When you close it or pay it off1

  • Loan Finalisation Fee
    $345

Other fees12

  • Agent's fees

    Agent's fee payable to any agent used by Heritage or its solicitor to attend settlement or stamp, lodge or register a document on settlement of Loan.

    $0 to $0
  • Approval Request Fee

    Payable if you ask for our approval under the credit contract or a security in relation to a transaction or proposal.

    $0 to $0
  • Bank cheques cost payable to any Bank issuing a bank cheque for settlement on settlement of Loan.

    The amount charged by the bank to Heritage, its Agent or your Solicitor (currently estimated at approximately $12.00 per cheque).

    $0 to $0
  • Council mortgage notification fee

    The amount charged by the local government

    $0 to $0
  • Mortgage Dealing Fee

    Amounts charged to Heritage per Mortgage Dealing

    $0 to $0
  • Paper Based Statement Fee

    Fee is charged for each paper statement issued as per your account statement cycle. Excludes eStatements which are free of charge.

    $3
  • QBE - Lenders Mortgage Insurance

    Amount varies depending on LVR and loan amount

    $0 to $0
  • Stamp Duty

    Amounts charged to Heritage for Stamp Duty

    $0 to $0
  • Title Registration Fee

    amount charged by Government

    $0 to $0
  • Title search - payable to Agent/Solicitor

    The amount charged to Heritage by the Agent or Solicitor

    $0 to $0
  • Title Search

    The amount charged to Heritage per search per title.

    $0 to $0
  • Valuer's fee may become payable to Valuation Exchange Pty Ltd if Heritage obtains a valuation for a property subject to a Security in connection with a proposed transaction (such as an application for a further advance or an application to substitute securities).

    The amount charged to Heritage

    $0 to $0

Features

RedrawExtra repaymentsGuarantor option
  • Get a competitive low variable interest rate on our simple Discount Variable Rate Home Loan
  • Loan terms from 1 to 30 years
  • Split Loans available

Eligibility and limits

  • Minimum age 18
  • Residency: A citizen or permanent resident of Australia or New Zealand
  • Amount from $20,000, no maximum
  • Lending criteria apply

Published by People First and Heritage Bank under the Consumer Data Right, last changed by them on 13 Oct 2026. Figures are shown as the institution publishes them and can change without notice; confirm on their site before applying. The Finance Algorithm earns nothing from any product listed here.