| PURPOSE |
Self employed applicants
purchasing or refinancing, owner occupied or investment
residential 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 payments
can be made at anytime on variable rate loan. Extra payments
on fixed rate loan in excess of regular payment may incur
an early repayment fee. |
| CONVERT TO FIXED
RATE |
Variable to fixed at any
time at no cost. Switching from fixed 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 |
Unlimited redraw on variable
rate loan at no cost.
Minimum $50 when using Loan Service Line OR Loan Service
Net. Redraw facility is not available on fixed rate loan. |
| 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.
- 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
|
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