| Standard
Variable Rate |
| Purpose |
Owner
occupied or investment property purchases, re-financing existing residential
or investment or business loans |
| Loan
Size |
From
$30,000 to $2,000,000 per security property |
| Term |
Up
to 30 Years |
| Repayments |
Principal
and Interest or Interest Only for 2,3,5 or 10 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 |
- 97%
for owner occupied loans up to $300,000 (conditions apply)
- 95%
for owner occupied loans up to $500,000 (conditions apply)
- 95%
for investment loans up to $300,000 (conditions apply)
- 90%
for all loans up to $600,000 (conditions apply)
- 85%
for all loans up to $1,000,000
- 70%
for all loans up to $2,000,000
|
| Fees |
No
Monthly administration or ongoing fees |
| Application Fee |
$395
(includes GST) |
| Deferred Admin Fee(DAF) |
A
DAF is payable based on the initial loan principal if the loan is fully
discharged. This is scaled as follows:£ $500,000 - 0.80% 1st 4yrs, if > $500,000
- 1.00% 1st 5yrsIf
1.4% upfront requested 1.20% 1st 5 yrs regardless of loan amount. |
| Security Discharge Administration Fee(SDAF) |
$350
is payable on full discharge of the loan - (effective 2 August 2004) |
| 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 or direct salary credit
- Lenders
Mortgage Insurance is required for all loans. Premium is payable by
the borrower if the amount borrowed is greater than 80% of the value
of the property (conditions apply)
- 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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