| PURPOSE |
Purchase or refinance of
owner occupied or investment residential property |
| TERM |
30 years |
| REPAYMENTS |
Interest only for the first 15 years, thereafter
payments will be made up of principal and interest. |
| FREQUENCY |
Statements are issued
monthly, although payments can be made at any time |
CONVERT
TO FIXED RATE |
At any time at no cost (subject
to 3 a/c maximum). |
| SPLIT
FACILITY |
Maximum 3
separate accounts under the one loan |
| PAYMENT METHODS |
Direct Credit, Direct Debit,
Internet Banking or Telephone Banking. |
| ACCESS
TO FUNDS |
Cheque book,
ATM or EFTPOS. |
MAXIMUM
LOAN TO VALUE RATIO |
- 95% for loans up to $500,000 (some restrictions
may apply)
- 85% for loans over $500,000 (some restrictions may
apply)
|
Application fee
Government and
bank charges. Legal fees
and disbursements |
- $0 Establishment Fee
- $0 Valuation Fee
- $0 Lender's Legal 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 |
- Lenders Mortgage Insurance is required for all EasyChoice
Home Loans residential property loans. The premium
is payable by the borrower only if the amount borrowed
is greater than 80% of the value of the property or
the loan amount is greater than $500,000.
(Some conditions may apply)
- A security discharge administration fee of $500
is payable when you repay your loan in full.
|
| |
