Mortgage House releases 6.78% p.a. home loan

Date: 29/06/2011

Mortgage House, major non bank lender, is taking the home loan interest rate race to the next level with the introduction of the new Vantage Simple Home Loan which has a standard variable interest rate of just 6.78% p.a. (comparison rate 6.81% p.a.)

Recently making headlines for Best Value Home Loan with another product, Mortgage House strikes again with the Vantage Simple home loan that boasts no ongoing fees for the life of the loan and offers further savings for borrowers, especially first home buyers and customers wanting to refinance, by waiving the application fee and valuation fee.

As the name suggests, it is keeping the home loan simple and does away with costly features normally associated with more expensive products such as an offset account. This loan provides borrowers with 24/7 internet access to their account and unlimited free internet transactions including redraws.

Of the new Vantage Simple Home Loan product, Mortgage House of Australia Managing Director, Sarah Roberts had the following comment:

"We introduced the Vantage Simple Home Loan to meet the current demand for a low cost, no bells-and-whistles home loan that borrowers have been asking for. We are often approached by our customers wanting to learn ways to pay their loan off sooner. At Mortgage House, we place a high importance on providing our customers with mortgage minimisation strategies.

People can use the Vantage Simple Home Loan in two ways to minimise their mortgage. Firstly, through refinancing to the lower interest rate and reducing the monthly repayment figure, freeing up funds to assist with the increasing cost of living.

Secondly, they can reduce the number of months or years left on the term of their loan by continuing to make their previous mortgage repayments on Vantage's lower interest rate."

The Vantage Simple Home Loan is available for home loan applications submitted between 28th June - 30th September,2011.

With over 25 years in operation, Mortgage House is a home loan lender in it's own right and has also retained it's mortgage management and broking capabilities. The group has over 50 branches nationwide and also offers its range of products through a network of accredited brokers. More information is available at mortgagehouse.com.au.