| PURPOSE |
Predominantly investment
or business purpose |
| 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 payments in excess of regular payment may incur
an early repayment fee. |
| CONVERT TO VARIABLE
RATE |
Borrowers switching from
fixed rate to a variable rate may incur an early repayment
fee (subject to 3 a/c maximum) |
| SPLIT FACILITY |
Maximum 3 separate accounts
under the one loan |
| REDRAW |
Redraw facility
is not available on fixed rate loans. |
| MAXIMUM LOAN TO VALUE
RATIO |
- 80% for loans up to $500,000 (some restrictions
may apply)
|
FEES
Application feeDeferred Administration FeeGovernment
and bank chargesLegal fees and disbursements |
- $0 Establishment Fee
- $0 Monthly Administration Fee·
- Deferred Administration Fee of 0.80% of initial
principal amount is payable if the loan is fully discharged
within
4 years of settlement
- For example, mortgage duty, registration fees and
property searches.
- You will have to pay costs associated with your
own legal fees and disbursements
|
| OTHER CONDITIONS |
- All repayments must be made by electronic direct
debit·
- Minimum self employed period of 2 years
- Deceleration of Affordability to be signed by all
borrowers/guarantors
- A security discharge administration fee of $500
is payable when you repay your loan in full.
- An early repayment fee may apply if fixed rate
period is being broken
|
| |
|
