| PURPOSE |
For self employed applicants to purchase
or refinance an 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. |
CONVERT
TO
FIXED RATE |
At any time
at no cost (subject to 3 a/c maximum) |
| SPLIT
FACILITY |
m 3 separate
accounts under the one loan |
| REDRAW |
Unlimited redraw
at no cost. Minimum $50 when using Loan Service Line OR
Loan Service Net. |
MAXIMUM
LOAN
TO VALUE RATIO |
- 80% for loans up to $750,000 (some restrictions
may apply)
|
Application
fee
Government and
bank charges. Legal fees and disbursements |
- $695 Establishment Fee
- $220 Valuation Fee
- $400 Lender's Legal Fee
- $0 Monthly Administration Fee
- Deferred Administration Fee of 1% of initial principal
amount is payable if the loan is fully discharged
within 5 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 |
- Minimum self-employment period of 2 years.
- Declaration of Income and Affordability to be signed
by all borrowers/guarantors.
- All repayments must be made by electronic direct
debit.
- Lenders Mortgage Insurance is required for all loans.
The premium is payable by EasyChoice Home Loans. (Some
conditions may apply)
- A security discharge administration fee of $500
is payable when you repay your loan in full.
|
| |
