| PURPOSE |
Purchase or refinance
of 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 |
- 95% for loans up to $500,000 (some restrictions
may apply)
- 85% for loans over $500,000 (some restrictions
may apply)
|
FEES
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 |
- All repayments must be made by electronic direct
debit &/or salary credit.
- 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.
- An early repayment fee may apply if fixed rate period
is being broken.
|
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