This is the cost incurred when you make an additional payment (either a partial payment, or a payment that pays out your loan in full; including refinance) that exceeds the lender’s allowable amount (e.g. $10,000 per year) during the fixed rate period. Depending on your fixed interest rate and how long you have to go until your fixed term ends, it could come to a significant amount.
* Two year fixed rate, owner occupier, P&I package loan with a maximum LVR of 70% and a loan amount >=$150k. Lender rates and products may change. We cannot suggest you remain in or switch to any loan until we complete our assessment. Fees and charges apply. ^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. The comparison rate is calculated on the basis of a loan of $150,000 over a term of 25 years. ± All loan applications are subject to uno assessment and lender approval. uno does not guarantee that it will be able to find a customer a better loan than the one they currently have or to save them money.