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)