bcu
OMG Home Loan (P&I) LVR<60
bcu · residential mortgages
Provider last updated this product 2026-09-30.
Our OMG Home Loan is a variable rate loan with varying interest rates depending on the loan to value ratio (LVR) with ongoing fees, for owner-occupiers.
Lending rates
| Type | Rate | Comparison^ | Purpose | Repayment | Fixed term | Applies to | Interest |
|---|---|---|---|---|---|---|---|
| VARIABLE | 5.99% | 6.02% | OWNER OCCUPIED | PRINCIPAL AND INTEREST | - | - | calculated daily, paid monthly |
| Owner occupied Rate available to existing customers. Rate available for new accounts. Rate available to new customers. | |||||||
Fees
| Fee | Type | Amount | Details |
|---|---|---|---|
| Statement Retrieval Fee | REPLACEMENT | $2.50 | Fee applies for statements over 12 months old. Payable on request to issue a copy of a previously issued statement. |
| Loan Establishment Fee | UPFRONT | $0 | No fee for establishment or top-up of the home loan. |
| Legal Fee | OTHER | - | Payable at cost when legal advice or services are required over the life of the loan. |
| Third Party Document Production Fee | OTHER | - | Payable at cost if the Bank incurs costs or had to pay a third party in connection with something that needs to be done under the Loan or Security. |
| Construction Progress Payment Fee | UPFRONT | $50 | Charged per drawdown payment that is made on your construction loan. |
| Title Consent Fee | EVENT | $150 | Payable when we are requested to consent to a change relating to your title. |
| Loan Contract Variation Fee | VARIATION | $250 | Charged when we process a variation of your contract or any security such as; substitution, partial release, additional or transfer of security, amendment to the term of a loan or a loan account. |
| Withdrawal of Caveat Non-Settlement Fee | EVENT | $55 | Without settlement per document. When we are requested to remove a caveat lodged on a title. |
| Caveat Withdrawal Settlement Fee | EVENT | $160 | With settlement per document. When we are requested to remove a caveat lodged on a title. |
| Construction Progress Inspection Fee | UPFRONT | $121 | Charged per property inspection required at key milestone completions during your construction loan. |
| Loan Account Switching Fee | VARIATION | $300 | Charged for switching your home loan to a different product on your request. |
| Valuation Fee | UPFRONT | $0 | First valuation is free. Additional valuations are charged to you at the cost we have incurred. |
| Discharge of Mortgage Fee | EXIT | $395 | Charged for the preparation of documents for the discharge of mortgage. Each additional security discharged is $195, please refer to website for details. |
| Lender Mortgage Insurance | OTHER | - | LMI is insurance that protects the bank if the borrower/s are unable to make home loan repayments. LMI is required when a borrowers deposit is generally less than 20% of the property value plus other government fees. Please see our fact sheet for details. |
| Document Preparation Fee | UPFRONT | $300 | Fee for preparation of loan contracts charged at the time of funding or settlement of the loan |
| Default Notification Fee | LATE_PAYMENT | - | Payable at cost when we issue a default notice because you are in default under the contract. |
| Late Payment Notification Fee | LATE_PAYMENT | $5 | When payment to a home loan becomes overdue by 11 and 30 days. |
| Management Administration Fee | LATE_PAYMENT | $50 | When payment to a home loan becomes overdue by more than 90 days. |
| Collection Agent Administration Fee | LATE_PAYMENT | $100 | Payable when you are in arrears for more than 90 days and we choose to engage an external collection agent. |
| GOVT Registration of Mortgage | OTHER | - | This fee is payable to the bank in reimbursement of Government charges relating to registration of mortgage on the security property. Amounts are set by the land titles office by each state or territory. |
| GOVT Discharge of Mortgage | OTHER | - | This fee is payable to the bank in reimbursement of Government charges relating to discharge of mortgage on the security property. Amounts are set by the land titles office by each state or territory. |
| Title Search Fee | OTHER | - | This fee is payable to the bank in reimbursement of costs incurred for obtaining title searches on the security property. |
| Property Exchange Australia (PEXA) Charges | OTHER | - | Payable when we have to register or release of any documents relating to a security electronically, request information or we process a financial settlement using PEXA. Fees are applied as charged by PEXA. |
| Default Interest Rate | OTHER | - | A default rate may be charged on any overdue amount if you fail to pay the amount due under the loan contract by its due date. The default rate is 2% per annum above the Annual Percentage Rate applying to the loan account and accrues daily from the due date until payment is made. |
Rate history
Rate Comparison rate
The figures behind this chart
| From | Until | Rate | Comparison |
|---|---|---|---|
| 2026-07-15 | 2026-09-30 (current) | 5.99% | 6.02% |
Published figures as captured daily since 2026-07-15. A step is the day the provider's published figure changed; days without a published figure carry the last published value.
Features
- Flexible loan structuring options may be available, including the ability to request to split your loan into fixed and variable components, subject to approval and product eligibility.
Who can apply
- min age - 18
- natural personMember must be a natural person rather than another legal entity.
- otherCredit eligibilty criteria, terms and conditions, fees and charges apply.
- otherYou must be or become a BCU Bank member
- residency status - At least one applicant must be an Australian or New Zealand citizen or an Australian permanent resident. Income for non-permanent residents isn't included. Australian's living overseas are eligible only if they had prior lending with PNL.
Limits
- max limit - 5000000.00Maximum loan amount is $5,000,000
- max lvr - 0.60The maximum Loan to Value Ratio is 60%
- min limit - 20000.00Minimum loan amount is $20,000
- min lvr - 0.0001The minimum Loan to Value Ratio is 0.01%
The provider's own documents
Published by the provider under the Consumer Data Right. These are their documents, not ours - they are the authority on this product.
Last updated by data holder: 2026-09-30T16:00:43.1982365Z · Product ID: 210