|
Purpose
|
1. Purchase Property,
2. Refinance,
3. Construction,
4. Vacant Land,
5. Refinance of Business Debts, Raising Capital and Debt
Consolidation.
|
|
Loan
Amount
|
Minimum
- $ 20,000.00
No Maximum.
ABN
less than 2 years maximum lending value is 75% of property value or
ABN
over 2 years maximum lending value is 80% of property value.
|
|
Security
|
First
registered mortgage over Residential/Owner Occupied and
Residential/Investment properties or Vacant Land.
|
|
Term
|
Maximum
30 years. Principal & Interest &/or Interest Only.
|
|
Interest
Rate
|
7.69%
variable
or
alternatively you can take out a Fixed
Rate option. Comparison Rate: 8.79%.
|
|
Repayments
|
Weekly,
fortnightly or monthly, additional repayments and bulk reductions
are accepted at anytime without penalty.
|
|
Loan
to Value Ratio
|
Maximum
95% loan against property offered as security (consideration will
be given for loans that are 100% of property value.
|
|
Offset
Account
|
Yes
- 100% or Line Of Credit Option.
|
|
Valuation
Cost
|
Nil.
|
|
Application
Fee
|
$300.00.
|
|
Professional Package Fee
|
$300-
annually and can be discounted to nil depending on further options
being taken .
|
|
Split
Facility
|
Yes.
Loans can be fixed or variable, or split between the two.
Borrowers can switch between fixed and variable rates.
|
|
Portability
|
Yes.
Loan may be moved to another property subject to valuation and
acceptability of security being offered to the Bank.
|
