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ME’s Flexible Home Loan offers a competitive variable rate, flexible repayment options, a 100% offset facility and a range of other features to make it as easy as possible to purchase your next home. However, if you pay an annual fee of $395 you can take out an ME Flexible Home Loan With Member Package, which waives a number of fees and also entitles you to a discounted interest rate.
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Review by
Marc Terrano is a lead publisher and growth marketer at Finder. He has previously worked at Finder as a publisher for frequent flyer points and home loans, and as a writer, podcast host and content marketer. Marc has a Bachelor of Communications (Journalism) from the University of Technology Sydney. He’s passionate about creating honest and simple reviews and comparisons to help everyone get value for money.
It waives the solicitor fee, valuation fee, and fees for fixing or splitting your loan that apply to the lender’s standard Flexible Home Loan. In exchange for these savings, you’re required to pay an annual fee of $395.
Available for owner-occupier and investment borrowers, the ME Flexible Home Loan With Member Package also features a 100% offset account and a choice of flexible repayment options. Construction lending is also available.
If you want to apply for an ME home loan, you'll need to be at least 18 years of age and a citizen or permanent resident of Australia or New Zealand. So if you've compared your borrowing options and decided that the ME Flexible Home Loan With Member Package sounds like the right loan for you, click the link on this page to be redirected to the ME website.
Once there you can fill out an enquiry form and provide:
An ME mobile banking expert will be in touch with you shortly after you submit the form to arrange a convenient time to meet and help you find the right mortgage.
To apply for an ME home loan you'll need to supply:
The ME Flexible Home Loan With Member Package has plenty to offer to the right borrower, so make sure to compare it with similar mortgage products to find out if it's the right loan for you.
6 Comments
October 1, 2018
What home loans do you offer without annual fees, please? I really don’t think an annual fee of $400 is a reasonable exchange for a $400 one off legal and valuation fee. This is not competitive against other loans on offer that are 0$ fees. Thanks!
October 2, 2018
Hello Teresa,
Thank you for your comment.
It’s important to check the fees before applying for a home loan. You may want to refer to our list of home loans with no ongoing fees, no exit fees, and no annual fees, making it more affordable to own a home and repay the mortgage. However, please also keep in mind that there are still charge fees for offset or redraw facilities, which might add a considerable cost to your loan. After comparing the home loan products on the page, please click the Go to Site button to apply. Please ensure your eligibility before submitting an application for the loan.
Best to speak with a mortgage broker to discuss options based on your needs.
Should you wish to have real-time answers to your questions, try our chatbox on the lower right corner of our page.
Regards,
Jhezelyn
April 2, 2016
If I want to have a credit card with ME bank along with my home loan account and everyday transaction account- is that possible? ie. so I can see all three accounts on my online banking.
Would the credit card & rewards program cost extra?
April 7, 2016
Hi C,
Thanks for getting in touch.
Unfortunately you can’t combine other ME products with the Flexible Home Loan with the Member Package. However, you could have these as stand-alone accounts.
With the Member Package, please note that you would pay an annual $395 fee while valuation and solicitor fees are waived.
Please get in touch with ME Bank directly if you have further enquiries.
Kind regards,
Belinda
January 12, 2016
Is there a maximum additional payments amount into the offset account?
January 14, 2016
Hi Paul,
Thank you for your inquiry.
The offset account that you can link to the variable portion of this loan is the ME Bank Everyday Transaction account so similar to other transaction accounts there is no limit to the payments you make into it. If you would like more information on the account please refer to our review of the ME Everyday Transaction Account.
Please ensure to read through the relevant product disclosure statement and terms and conditions to ensure that you got everything covered on your transactions.
Regards
Jodie