| Purpose |
Owner
occupied or investment property purchases, re-financing existing residential
or business loans |
| Loan
Size |
From
$30,000 to $500,000 per security property |
| Term |
Up
to 30 Years |
| Repayments |
Principal
and Interest or Interest Only for 2,3,5 or 10 years and Line of Credit
15 Years |
| Frequency |
Weekly,
fortnightly or monthly. Extra repayments can be made on variable loans
at any time |
| Convert
To Fixed Rate |
All
or part of the loan can be converted to a fixed rate at any time at no
cost (subject to maximum of 4 a/c) |
| Split
Loan Facility |
Up
to 4 separate splits per facility. Transfer funds between splits using
Inter Account Payment facility |
| Re-Draw
Facility |
Unlimited
re-draw at no cost. Minimum re-draw $50 when using Loan Service Line
or Loan Service Net for all variable rate loans |
| Pay
Anyone |
Payment
can be made to any bank, building society or credit union directly from
your loan using a valid BSB and account number (excludes credit cards). Max $5000 per day. Not available
during a fixed rate period. |
| Maximum
LVR |
|
| Fees |
No
Monthly administration or ongoing fees |
| Application Fee |
$395
(includes GST) |
| Deferred Admin Fee |
A
Deferred Administration Fee of 1.20% of the initial loan principal amount
is payable if the loan is fully discharged within five years of settlement |
| Security Discharge Administration Fee |
A
Security Discharge Administration Fee of $350 is payable upon full repayment
and discharge of the loan. |
| Government & Bank Charges |
For
example, mortgage duty, registration fees and property searches |
| Legal fees & disbursements |
Client
will pay costs associated with their own legal fees and disbursements |
| Other Conditions |
- All
repayments to be made by electronic direct debit
- Lenders
Mortgage Insurance is required for all loans. Premium is payable by
AFIG Wholesale
- No minimum
net asset position required
- No minimum
self-employment period
- Fastdoc
Declaration to be signed by all borrowers/guarantors
- Security
to be located in all mainland capital cities
- Break
costs will apply to fixed rate loans if fixed rate period is being broken
- 1st
registered mortgage over residential property required as security on
all loans
|
This
fact sheet provides general information only - Full details of the loan
are set our in the loan agreement - Conditions, fees & charges apply. |
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