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It automatically reverts to the rate saver rate which is 5.19% at the moment. Not particularly attractive. Of course, if you're on the ball (or your broker is) you can change into a different product but the bank will be betting you won't do that. Most people forget.

Not always, but if you're looking at short term specials like honeymoon rates or fixed term loan, it's better to sub 80% so you can move freely when the term ends. Generally speaking honeymoon rates don't end up cheaper over time - they're literally a lure to get you in, and if you've paid...

Unless you're confident your loan will be under 80% at the end of the fixed term I'd think again - the SVR the loan will revert to after the fixed period is really high and if you're at a high LVR you'll either have to wear it, or pay LMI again to refi out of it.