SummerlandBasic Variable Home Loan
A simple loan product with redraw and a low ongoing rate. New borrowers pay no establishment or monthly loan administration fees.
At a glance
- Variable (owner occ. P&I)
- 6.14%6.20% comparison
- Annual fee
- $96
- 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.
| Rate | This home loan | Best anywhere | Typical institution | Where it sits |
|---|---|---|---|---|
| Variable home loanOwner occupier, principal & interest, 80% LVR | 6.14% | 5.93%SCCU's BROKER HOME LOAN | 6.38%of 104 institutions | 9th lowest of 104, level with 5 others |
Rates
Every rate Summerland publishes for this home loan, 6 in all.
| Type | Applies to | Term | Band | Rate | Comparison | Conditions |
|---|---|---|---|---|---|---|
| VariableOwner occupier, principal and interest repayments only. Minimum new loan amount of $150,000, with a loan to valuation ratio of 60% of less. Eligibility for new borrower specials for customers seeking… | Owner occupied, P&I | - | - | 6.14% | 6.20% | - |
| VariableOwner occupier, principal and interest repayments only. Minimum new loan amount of $150,000, with a loan to valuation ratio of 80% of less. Eligibility for new borrower specials for customers seeking… | Owner occupied, P&I | - | - | 6.29% | 6.35% | - |
| VariableOwner occupier, First Home Buyer principal and interest repayments only. Minimum new loan amount of $150,000, with a loan to valuation ratio of 85% of less. Eligibility for new borrower specials for… | Owner occupied, P&I | - | - | 6.34% | 6.40% | - |
| VariableOwner occupier, First Home Buyer principal and interest repayments only. Minimum new loan amount of $150,000, with a loan to valuation ratio of 90% of less. Eligibility for new borrower specials for… | Owner occupied, P&I | - | - | 6.59% | 6.65% | - |
| VariableOwner occupier, First Home Buyer principal and interest repayments only. Minimum new loan amount of $150,000, with a loan to valuation ratio of 95% of less. Eligibility for new borrower specials for… | Owner occupied, P&I | - | - | 6.84% | 6.90% | - |
| VariableOwner occupier, principal and interest loans. Minimum loan amount of $30,000. | Owner occupied, P&I | - | - | 6.84% | 7.00% | - |
Fees
13 fees published, grouped by when they're charged.
- When you take it outUp to $8007 fees, each listed below
- While you hold it$8 a monthLoan Administration Fee
- When you close it or pay it offNo fee published
When you take it out7
- Establishment Fee
New Borrower Special
$300 - Guarantee Establishment Fee$200
- Legal Fee
Legal Fee - residential $200; Legal Fee - Non Residential at cost.
$200 - Loan Increase Fee$300
- Settlement FeeVaries
- Valuation Fee - Construction
Payable in addition to the Valuation Fee - residential.
$800 - Valuation Fee
Valuation Fee - Residential $300; Valuation Fee - Non-Residential is at cost. Includes commercial, rural & rural lifestyle properties over 30ha.
$300
While you hold it1
- Loan Administration Fee
New Borrower Special
$8 a month
When you make a transaction3
- Mortgage Discharge Fee$250
- Redraw Fee - Assisted$25
- Redraw Fee - ElectronicNo fee
When particular things happen2
- Contract Variation/Consent Fee$300
- QuickDebit Dishonour Fee$15
Features
- Save on paper, receive and view your statements online with eStatements.
Eligibility and limits
- Minimum age 18
- Residency: An eligibility constraint based on residency status applies.
- Available to individuals
- Amount from $30,000, no maximum
- Lending criteria apply.
Compare it with others
Put this product through a calculator
Published by Summerland Bank under the Consumer Data Right, last changed by them on 23 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.