| The Basics | |
| Purpose | · Owner Occupied, Purchase and Refinance, Land and Construction |
| Eligibility | · Personal and Discretionary Trust borrowers |
| Loan Amount | · Minimum – $50,000
· Maximum – $5,000,000 (multiple securities) |
| LVR | · Maximum LVR 90% (plus LMI) to $1,500,000 Cat 1
· Maximum LVR 80% to $2,000,000 (single security) |
| Term | · Up to 30 years |
| Rate Options | · Variable and Fixed rates available for 1-3 year |
| Loan Processing Fees (Offset available)
|
· $440 Application | $250 Valuation fee* | $330 Funder’s Legal fee | $150 Funder’s Processing fee
· Loans =>$750k $0 Application |
| Discharge Fee | · $500 |
| Features | |
| Multiple Accounts
|
· Loan Processing fee of $150 & $250 Construction on 1st split and $50 each additional split, Max of 4 |
| Statements | · Issued 6 monthly (January – June & July – December) |
| Redraw Facility | · Yes |
| Account Access
|
· ATM / EFTPOS Purchases – ($1,000 cash out per card per day)
· Any Pay using phone or internet access no daily limit · BPAY of bills using phone or internet access · Pay your bills using third party direct debit · Same day telegraphic transfer & Manual redraw to third party account |
| Portability | · Substitution of security available subject to credit assessment |
| Construction
|
· Construction of home via progressive
· $750 Administration fee and $995 progress inspection valuation fees |
| Income Documentation
|
· PAYG 2 of the most recent computerized pay slips less than 60 days old with YTD details AND latest 3 months bank statements from a financial institution in the name of employee showing regular salary credits from the employer.
· OR 2 OF THE FOLLOWING: 2 of the most recent computerized pay slips less than 60 days old with YTD details, latest 3 months bank statements from a financial institution in the name of the employee showing regular salary credits from the employer, signed employment contract, signed and dated letter less than 60 days from the employer on company letterhead including ABN, job description, gross salary & length of service, latest PAYG summary, most recent Tax Assessment Notice, most recent Tax Returns. · Last 2 years tax returns and tax assessment notices (Self-employed) |
| Repayments | |
| Type | · Principal & Interest |
| Frequency | · Via Direct Debit – Monthly, Fortnightly or Weekly
· Via Salary / Self credit any frequency permitted |
| Methods | · Direct Debit – Repayment drawn from a nominated account
· Salary Credit – Wages directly credited into account |
| Additional Repayments | · $20k max allowable extra repayments per Anniversary Year (each split)
· Fixed term Break Cost upon request |
| Account Fees | |
| Account Keeping Fees | · $10 per month if Offset is selected |
| Transaction Fees | · Free ATM cash withdrawals @ ANZ, CBA, NAB and WBC ATM’s
· Unlimited free phone and internet transactions · Manual redraw minimum $1 and telegraphic transfer $50 (processed via Client Care) |