The residential transformation of St Kilda Road is set to continue into with more new apartment plans for the sought-after boulevard.

Wing Tai Asia has lodged plans for a major residential tower at 464-466 St Kilda Road, replacing the former VACC House with an 18-storey mixed-use development designed around a retained heritage podium and a sculpted contemporary tower.

The proposal, prepared under Victoria’s Significant Residential Development with Affordable Housing pathway, would deliver 325 apartments and ground-floor retail across the prominent 4,653 sqm boulevard site in Melbourne’s St Kilda Road North Precinct.

The project centres on the adaptive reuse of the site’s heritage-listed VACC Building, an eight-storey office designed by Bernard Evans that has occupied the address for decades. Planning documents state the development would involve “carefully dismantling and conserving off-site the original metal fabric of the podium visible from St Kilda Road,” before reinstating it as the defining frontage of the new scheme.

Above the restored podium, Wing Tai is proposing a curvilinear residential tower. The scheme includes 172 one-bedroom apartments, 63 two-bedroom apartments, 66 three-bedroom apartments, and 24 four-bedroom apartments, alongside two ground-floor food and beverage tenancies fronting St Kilda Road.

The tower has been designed with substantial articulation and variable setbacks to minimise perceived bulk and maintain view corridors along the boulevard. Urbis, which prepared the planning report, said the design “has been significantly articulated through a curvilinear design” with “an interplay with materials, façade expression and depth” to create visual separation and visual interest.

The proposal also includes 254 basement car spaces, landscaped pedestrian links connecting St Kilda Road and Queens Lane, and a biophilic landscape strategy featuring canopy trees, raised planters, cascading greenery and a glass oculus pool overlooking the eastern frontage.

Planning documents confirm the $270.1 million development will contribute 3 per cent of project costs to the Social Housing Growth Fund as part of the application process.

Wing Tai acquired the St Kilda Road property in 2018 alongside Abacus Property Group for $95.38 million, before later consolidating ownership of the site. The property previously served as the Victorian Automobile Chamber of Commerce headquarters for around 60 years.

The transformation of the St Kilda Rd boulevard is already beginning to materialise, with a number of high-profile projects recently completed, launched, or approaching launch as developers continue to back the long-term appeal of the precinct.

Among the most notable recent completions is Louise by Samuel Property Group, just off the strip on Queens Lane, the same pocket Hirsch &amp; Faigen recently launched The Queensbury. Mirvac is too on the same street with The Albertine, which is approaching completion.

Dexus recently secured approval for its slice of St Kilda Road, while Gurner also has approved plans for the precinct.

Joel Robinson

Wing Tai unveils 325-apartment St Kilda Road tower on former VACC House site

Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
</section>
</section>

[smartcode_project_cta:default project_id=112661]

SIERA kicks off construction at Northcliffe tower Exhale

Home Loans

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Aussie Home Loans has posted a record $20 billion in home loan settlements during 2014-2015, including $16.8 billion through its Aussie branded franchises.
June capped off the record-breaking year, with settlements during the month at a record $1.98 billion.
“We achieved all of our ambitious growth targets for the year, with our retail and mobile broker channels both reporting record levels of lending volumes,” Aussie CEO James Symond said.
Aussie also reached an important milestone in its 23 year history, employing our 1,000th mortgage broker.
It has also opened its 175th purpose-built store.
"The mobile mortgage broker channel is also going full steam ahead, settling a record $600 million in June,” James Symond said.
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jchancellor-FAypfDUnLy

Record June for Aussie Home Loans with 1000th mortgage broker onboard

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<img class="map" src="https://www.homeloanexperts.com.au/wp-content/uploads/2015/06/should-I-fix-my-loan-or-leave-it-variable1.jpg" alt="should I fix my loan or leave it variable" width="772" height="2817" style="font-size: 12.1599998474121px; line-height: 1.3em;">
The mortgage broker, <a href="https://www.homeloanexperts.com.au/" target="_blank">homeloanexperts.com.au</a> recently prepared an info-chart on one of the biggest decisions you’ll need to make on taking a home loan - to play it safe by locking in your interest rate or take a risk in the hopes rates will drop even further amd you won't have to sell in the meantime. 
There are pros and cons to each option no matter which way rates go.
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<div id="accordion4" class="tabs-content">
DISCLAIMER: This is general information only and should not be taken as financial advice. Please speak to a financial professional before making a decision on your home loan.
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</div>
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po-LsXgBTHBmX

Fixed or variable? HomeLoanexperts.com.au

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Loans.com.au has been named Home Lender of the Year 2015 in Mozo’s Experts Choice Awards.
The online lender took out five awards. 
The typical loans.com.au customer is aged in their 30s, living in a greater metropolitan area, with a professional career and household income 30 percent above average.
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It comes as 86 per cent of the best value home loans are from small and non-bank lenders, according to the comparison site, Mozo.com.au. 
Mozo looked at 390 home loans from 81 providers to identify the ten lowest cost loans in five categories with online provider Loans.com.au winning all five categories. 
“These awards are designed to find the best value products available to Australians right now and surprisingly our major banks don’t rate a mention when it comes to the best value variable, fixed or full feature home loans on the market,” said Mozo director, Kirsty Lamont. 
Mozo calculations show borrowers with a typical $300,000 loan could save as much as $1,920 in interest and fees each year by switching from the average Big 4 rate to the best on market. 
“These results prove just how much impact competition and two rate cuts has had on the market in the past 12 -24 months.” 
“While price plays a big role, it’s clear consumers’ comfort with smaller, online and even non-bank brands is increasing,” said Lamont. 
Mozo named ANZ Major Bank Home Lender of the Year for having the best value loan against its three rivals. 
The Big 4’s share of the home loan market has decreased by 1% in two years, which equates to $18 million a day being lost to smaller ledners.
The biggest winners of Mozo’s Experts Choice Home Loan Awards are:
 
<img src="/images/2015/06/12/700_mozochart.jpg" alt="">
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<div class="page" title="Page 1">“We are thrilled to be named Home Lender of the Year after working hard since 2011 to bring competition to the home loan market in Australia,” said loans.com.au managing director, Marie Mortimer.</div>
“In every category we have been shown to offer the best value to customers, which demonstrates that we are making good gains in breaking the stranglehold of banks and driving interest rates down.”
Ms Mortimer said the fact that the top award went to an online-only lender shows the level of sophistication the Australian home mortgage market had attained.
“Gone are the days when customers wanted to go into a branch to apply for their home loan,” she said. “Everyone knows there are better ways to spend their time than waiting in a bank queue and our customers are keen to manage their money online in their own time.”
No branch network overheads allowed loans.com.au to pass savings onto customers in the form of lower interest rates and fees.
“The online lending model is not only more convenient for customers, it’s cheaper,” Ms Mortimer said. “Our borrowers know they will save money and time with an online home loan and being named Home Lender of the Year shows us we are meeting their needs.”
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Mozo awards showcase online home loan borrowing by savvy 30s home buyers

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Variable loan rates are available as low as 4.23%, with the lowest rates offered by non-bank lenders, according to comparison website Mozo.
Loans.com.au and Homestar both offer loans at 4.23% interest rates. Loans.com.au's Dream Home Loans Essential product has a maximum loan amount of $750,000, while Homestar's variable rate loan has a $1 million loan limit.
<a href="https://mozo.com.au/home-loans" target="_blank">The lowest variable rates currently on offer</a>:
<ul>
<li>loans.com.au, Dream Home Loan Essentials: 4.23% (comparison rate: 4.25%)</li>
<li>Homestar, Variable Rate Loan: 4.23% (comparison rate: 4.26%)</li>
<li>loans.com.au, Dream Home Loan Offset Variable: 4.27% (comparison rate: 4.29%)</li>
<li>iMortgage, Essential Home Loan: 4.29% (comparison rate: 4.31%)</li>
<li>UBank, UHomeLoan - Real Reward Offer: 4.29% (comparison rate: 4.29%)</li>
<li>Newcastle Permanent, Discounted Variable Home Loan (Premium Plus Package): 4.29% (comparison rate: 4.64%)</li>
<li>Queenslanders Credit Union    Ultimate Home Loan Special ($250,000 to $500,000): 4.33% (comparison rate: 4.37%)</li>
</ul>
 
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jrichardson-uRX5hFdKfN

The cheapest variable loans on offer: Mozo

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Westpac will apply tougher tests to new property investor borrowers in response to Australian Prudential Regulation Authority's (APRA) efforts to prevent the housing market from overheating.
It will test how borrowers would cope if interest rates rose to 7.1% when assessing how they would cope with higher interest rates.
Previously Westpac's test involved assessing how investor borrowers would cope if mortgage interest rates rose to 6.8%, up from about 5%.
"We had been using a buffer in that case of 180 basis points, we've lifted that to 210 basis points," Westpac chief executive Brian Hartzer was reported as saying in Fairfax Media.
The policy changes are a response to APRA's warning to banks in December, that they would be forced to run larger capital buffers unless they slow investor credit growth below 10% a year. 
"APRA's been in discussions with the whole industry about this," Hartzer said.
"We're all on the same page here. Nobody wants to fuel a speculative credit boom."
Westpac investor lending is growing at 11.5% annually, it said.
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Higher interest rate testing for Westpac investor borrowers

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ING Direct has cut rates on its fixed mortgage products to a new low for the company.
One to three-year fixed rate mortgages will now be offered at a 4.24% rate, while four to five-year fixed rate mortgages have been cut to a 4.49% rate.
In March, the company lowered its variable rates, with a discount available for low loan-to-value ratio customers (under 80%).
This month, ING Direct will also be making a cash payment to some customers to reward Orange Advantage customers.
Its new fixed rates, effective 1 May:
<img src="/images/2015/04/30/Picture%2013.png" alt="">
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ING Direct cuts fixed mortgage rates

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GUEST OBSERVATION
Australia’s ‘property inferno’ is well and truly alight this month.
With property prices set to continue rising through 2015 and more cash rate cuts on the horizon, potential home buyers need to seriously consider whether they’ll make the most of favourable opportunities to dive into the market.
If property prices are on the up and up, and variable rates set to follow the cash rate to new lows, it makes sense that securing a property sooner rather than later will help to reduce your long-term costs. By choosing the lowest rate available to you, you may be able to offset some of the costs associated with higher property values, before they rise any further.
finder.com.au’s lowest variable rate home loans
<ol>
<li>
<a href="https://www.finder.com.au/loans-com-au-dream-essentials-home-loan">loans.com.au Dream Home Loan Essentials: </a><a href="https://www.finder.com.au/loans-com-au-dream-essentials-home-loan">4.23% </a>This is the lowest variable rate on finder.com.au and a heavy contender in terms of additional features. While you’ll have access to extra payment and redraw facilities, portability and splitting options, you won’t have access to an offset account or physical branches – loans.com.au is a solely online lender. This paired with a $375 annual fee could sway some potential buyers.  </li>
<li>
<a href="https://www.finder.com.au/ubank-uhomeloan-variable-rate#9384">UBank UHomeloan: </a>4.29% This loan is only available to those who have secured a 20% deposit on their loan, however this dedication is rewarded in the form of $0 application or ongoing admin fees, which is a welcome change in the home loan market. Provided you’re an Australian resident with a Pay As You Go (PAYG) income from an employer, this loan can provide you with some cushy features such as free, unlimited redraws and various splitting options.  </li>
<li>
<a href="https://www.finder.com.au/state-custodians-standard-variable-offset-loan">State Custodians Standard Variable: </a><a href="https://www.finder.com.au/state-custodians-standard-variable-offset-loan">4.34% </a>If you can pay the $299 Annual Service Fee, $275 Valuation fee and $300 discharge fee, you’ll have access to a flexible loan with 100% offset options, as well as extra repayments, redraw facilities and split loan options.</li>
</ol>
finder.com.au’s lowest three-year fixed home loans
<ol>
<li>
<a href="https://www.finder.com.au/newcastle-permanent-fixed-rate-home-loan#851">Newcastle Permanent: </a><a href="https://www.finder.com.au/newcastle-permanent-fixed-rate-home-loan#851">3.99% </a>This is the lowest 3-year fixed rate on finder.com.au and home to a limited-time cashback offer of $1000 on applications made before May 1, settled before June 26 and over $150,000. Just be aware that there are no redraw services for this loan, so make sure the repayments are a financial commitment you can dedicate to – as you won’t be able to use the money elsewhere once it’s deposited.  </li>
<li>
<a href="https://www.finder.com.au/ubank-uhomeloan-fixed-rate-home-loan#885">UBank UHomeloan:</a><a href="https://www.finder.com.au/ubank-uhomeloan-fixed-rate-home-loan#885"> 4.18% </a>This loan is designed for the sure-footed as it does not allow extra-repayments or redraws on the fixed term of your loan – you’ll have to look elsewhere should you need extra money in the first three years. Aside from a $395 application fee, there is no annual service fee and you’ll be allowed to change up the repayment frequencies, which is a key consideration should you need to make strategic repayments around other lifestyle factors such as transitioning between jobs. 
</li>
<li>
<a href="https://www.finder.com.au/loans-com-au-dream-home-loan-fixed#1468">loans.com.au Dream Home Loan: </a><a href="https://www.finder.com.au/loans-com-au-dream-home-loan-fixed#1468">4.29% </a>This loan allows five free splits, which could be a highly valuable option for many first home buyers, especially being in the middle of cash rate movements. With additional repayment options and no application or ongoing fees, it may provide a smooth transition for those apprehensive to enter the market – provided you’re adequately braced for an initial $220 valuation fee and $300 settlement fee.</li>
</ol>
Michelle Hutchison is spokesperson for comparison website <a href="https://finder.com.au/" target="_blank">finder.com.au</a>.
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mhutchison-SWt6qigzDX

Offset rising property prices by making the most of your home loan: Michelle Hutchison

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The low official cash rate and an increasingly competitive home loan market has prompted ME Bank to cut its three year fixed rate product by 29 basis points.
Its three year standard home loan is now offered with a 3.99% per annum interest rate. Its one year fixed loan rate was cut by 40 basis points to 4.29%, and its five year loan is now down 20 basis points to 4.39% per annum.
Although the Reserve Bank did not cut the official cash rate in April, ME Bank head of home loans Patrick Nolan says money markets have begun pricing in two more rate cuts.
He also attributes the bank's rate cut to increased competition in the market.
"With competition hotting up, many Banks will pass these fixed rate savings directly on to customers," says Nolan.
"Banks are fighting over a smaller slice of the lending pie which is helping to push fixed rates to never before seen lows."
The bank also now allows new borrowers to pay an extra $30,000 over the fixed term of their loan.
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ME Bank drops three year fixed rate below 4%

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Interest rates are set to stay low for some time but uncertainty remains over which way they’ll move over the medium to longer term.
Variable rates are popular with borrowers. More than four out of five loans written nationally in February through Mortgage Choice had a variable rate, the broker’s latest data shows.
“In December 2013, fixed rate demand peaked at 33.06%, while today this type of home loan accounts for just 19.56% of all loans written,” Mortgage Choice spokesperson Jessica Darnbrough says.
“While fixed rate pricing has dropped dramatically across the board in recent months, it seems borrowers are more comfortable taking out a variable rate mortgage.”
For people who want some certainty and protection from rate increases but don’t want to miss out completely if rates fall further, split rate loans offer an alternative.
Split rate home loans allow borrowers to fix the interest rate on a portion of the loan and leave the rest variable.
It’s difficult to tell exactly how many people are taking out split loans because most mortgage products offer the option lenders don’t report the figures separately. Anecdotally, split loans do seem to be gaining popularity.
Michelle Hutchison, money expert at comparison website <a href="https://finder.com.au/" target="_blank">Finder.com.au</a> says it wouldn't be surprising to see more borrowers choosing to split their home loan as there’s increasing uncertainty about the direction of interest rate movements.
“The <a href="https://finder.com.au/" target="_blank">Finder.com.au</a> Reserve Bank Survey shows mixed results with which direction the cash rate will move this year. Another indicator is that most lenders have not followed every cash rate movement throughout this downward cycle over the past three and a half years,” Hutchison says.
“Borrowers may not know which option is better so hedging your bets and splitting your loan with part fixed and part variable divides the risk.”
The benefit of splitting a home loan is that it combines the features of a fixed and variable rate loan. The variable portion offers flexibility, allowing you to participate in subsequent interest rate cuts, while typically being able to make extra repayments or redraw from the mortgage. The fixed portion is usually more restrictive but does lock in the interest rate shielding you from increases in the required repayments if rates rise.
It’s common to fix 50% of the loan but most lenders will allow you to choose whatever combination of fixed and variable rates you want.
Many lenders will allow borrowers to split rates using their existing mortgage without having to refinance. Check with your lender on their policies.
As with all types of loans, interest rates vary between lenders.
One example is from Homeloans.com.au which is offering a split rate mortgage where up to half of the loan is split with a comparison rate of 4.72% on the variable component and 4.72% on the fixed rate for a three-year term. For a one-year fixed rate component the rate is 4.74% and for five years it’s 4.84%.
Using those rates as an example, let’s say you have a $300,000 loan over 30 years. You fix half of the loan over three years using the mortgage product above and leave the other half on the variable rate.
Initially, the monthly repayment will be $1,560, comprising of $780 for the fixed component and $780 for the variable component (see table below). Since the fixed and variable rates are the same in this example, the cost is the same as for a loan with a 100% variable rate.
If the RBA cuts interest rates by 0.25 percentage points, and the lender passes on the rate cut in full to its variable rate loans, the interest rate on the variable component will drop to 4.47% but the fixed rate will remain at 4.72%. The monthly repayment will drop to $1,537. However, if you had a completely variable rate loan, the monthly repayment would be $22* less, at $1,515.
Similarly, if the RBA lifted rates by 0.25 percentage points and the lender passed on the increase, monthly repayments on the split rate loan would rise to $1,582, while monthly repayments on a loan with 100% variable rate would go up by $23* more to $1,605.
While $20-something a month doesn’t make a huge difference to most budgets, if the economy picks up over the next three years and interest rates rise more dramatically, the saving will become more significant.
Looking back three years ago to April 2012, the official cash rate was 4.25%, a full 2 percentage points above what it is today. It’s possible that over the next three years conditions will improve enough for the official rate to be lifted again back 4.25%.
Assuming lenders passed on the rate rises, the variable rate on the mortgage in the example above would increase to 6.72%, while the fixed rate would of course remain at 4.72%. Monthly repayments in this instance would rise to $1,750. In contrast, the monthly repayments on a mortgage with a 100% variable interest rate would be $1,940. That $190 a month would make a sizeable difference to most budgets.
Monthly repayments on a $300,000 loan over 30 years 
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="97">
 
</td>
<td valign="top" width="105">
Interest on fixed rate component (50%)
</td>
<td valign="top" width="105">
Interest on variable rate component (50%)
</td>
<td valign="top" width="104">
Total repayment
</td>
<td valign="top" width="105">
Repayment for 100% variable rate loan
</td>
</tr>
<tr>
<td valign="top" width="97">
Variable rate: 4.72%
</td>
<td valign="top" width="105">
$780
</td>
<td valign="top" width="105">
$780
</td>
<td valign="top" width="104">
$1560
</td>
<td valign="top" width="105">
$1560
</td>
</tr>
<tr>
<td valign="top" width="97">
Variable rate: 4.47%
</td>
<td valign="top" width="105">
$780
</td>
<td valign="top" width="105">
$757
</td>
<td valign="top" width="104">
$1537
</td>
<td valign="top" width="105">
$1515
</td>
</tr>
<tr>
<td valign="top" width="97">
Variable rate: 4.97%
</td>
<td valign="top" width="105">
$780
</td>
<td valign="top" width="105">
$802
</td>
<td valign="top" width="104">
$1582
</td>
<td valign="top" width="105">
$1605
</td>
</tr>
<tr>
<td valign="top" width="97">
Variable rate: 6.72%
</td>
<td valign="top" width="105">
$780
</td>
<td valign="top" width="105">
$970
</td>
<td valign="top" width="104">
$1750
</td>
<td valign="top" width="105">
$1940
</td>
</tr>
</tbody></table>
Source: Property Observer using Homeloans.com.au split loan and variable rate loan calculators.
*Note: the difference between these figures is due to rounding throughout the example. 
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Should you consider a split loan?

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Australia’s largest mortgage broker has appointed Chris Slater as the general manager AFG Home Loans. 
Slater has been with the organization for eight years starting out as a national account manager and then moving to the role of state manager for NSW/ACT in 2008. 
In 2013, Slater was appointed to the role of head of sales and operations.
AFG managing director Brett McKeon said Slater has been a key player in growing the business.
AFG Home Loans division is a key plank of our business strategy. 
Slater and his family are relocating from Sydney to be based in AFG’s Perth head office this week.
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