We help qualifying first home buyers to buy their first property with a fully featured home loan package. For a low annual fee of $350 we offer a low ongoing loan interest rate, 3 months free building insurance during settlement, 10% off your general insurance premiums, unlimited customers rewards (transactions) and no monthly or additional repayment fees. We also waive the annual fees on our low rate VISA credit cards. This package will get you up and running.
- - $350 package fee
- - discounted interested rate
- - unlimited customer rewards (transactions)
- - 10% general insurance discount
- - 3 months free building insurance during settlement
- - repayment pause
- - free redraw
- - 100% offset savings account available
- - we also waive the annual fees on our low rate VISA credit cards
- - split between fixed/variable
- - additional repayments accepted
- - choose from weekly, fortnightly or monthly repayments
terms & conditions
* Comparison Rate. The Comparison Rate is based on a secured loan of $150,000 for 25 years. Warning: This comparison rate is true only for the examples given, and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
1. Terms, conditions, fees and charges apply and are available on application. Loans subject to normal lending criteria and approval.
2. Package Fee. Annual package fee of $350 is payable in advance and is nonrefundable. The fee is debited to the loan balance on funding, and then annually on the anniversary date of funding. Package benefits cease to apply once the loan is repaid in full. Other fees and charges may be payable. Refer to the Loan Fees schedule available from bankmecu.com.au or by calling 132 888 for more details.
3. First Home Buyer Loan Package. First home buyers can only qualify once for the loan package and must meet First Home Owners Grant eligibility, qualify for Government first home buyer stamp duty concessions or are able to demonstrate that they have not previously or do not currently own a home.
4. Repayment Pause. Loans must be established for a full 12 months and a maximum Loan to Value Ratio of 90% (Family-Pause) or 80% (Eco-Pause) applies. Full conditions available from bankmecu.
5. Unlimited Customer Rewards. Includes transactions covered under customer rewards, and excludes direct charges as a result of using non-rediATMs for withdrawals. Some transaction fees do not qualify for customer rewards. Full details are available on our website or by contacting bankmecu on 132 888.
6. Insurance. This insurance is issued by Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL 234708. mecu Limited ABN 21 087 651 607 AFSL/Australian Credit Licence No. 238431 acts as an agent of Allianz and not as your agent. Before making a decision about this insurance, please refer to the relevant Product Disclosure Statement available on 132 888 or visit bankmecu.com.au. 10% discount applies to building, contents and motor combined, and/or standalone building insurance, when you sign up for this home loan package. Minimum premiums apply. Any discounts/entitlements only apply to the extent that any minimum premium is not reached. If you are eligible for more than one, we also apply each of them in a predetermined order to the premium (excluding applicable taxes and government charges) as reduced by any prior applied discounts/ entitlements.
7. bankmecu offsets an equivalent amount of land as is being constructed on into the bankmecu Conservation Landbank in accordance with the land management plan developed and implemented by Landcare Australia and overseen by Trust for Nature. Carbon sequestered from these trees is monitored and reported by Landcare CarbonSMART. Homes constructed on large lots of land such as hobby farms will be offset according to the amount of land occupied by the dwelling.