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mortgage shop Standard Variable
Interest Rate:
Comparison Rate:
Suitable for both the owner occupiers and the investors.
Purpose
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For owner-occupied or investment property purchases, construction, re-financing existing residential or investment property.
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Type of Rate
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Variable or Fixed.
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Loan Size
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$50,000 to $2,000,000 per property.
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Repayment Frequency
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Fortnightly or monthly. Extra repayments can be made on variable loans at any time.
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Re-Draw Facility
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Unlimited re-draw at no cost. Minimum re-draw amount $50 for all variable rate loans
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Portability
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Fully portable (conditions apply)
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Loan to Value Ratio
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Up to 100% (conditions apply)
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Valuation Fee
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Nil for the first valuation up to the cost of $250
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Other Costs
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Solicitor Fees: $310 - $350 payable at settlement. Processing and disbursement fees may apply.
Borrower's legal costs, government charges, insurance are payable by the Borrower.
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Monthly/Annual Fee
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Annual Fee applies.
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Non-proceeding Fee
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$495 payable when an application is conditionally approved and a valuation completed, and the applicant decides after the valuation not to proceed with the loan.
This includes situations where the valuation comes in below applicant's expectations, resulting in the application being withdrawn.
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Lenders Mortgage Insurance
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Payable when the loan amount exceeds 80% of the valuation amount.
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Internet Access
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Available
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Discharge Fee
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$250 per security discharged.
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Deferred Establishment Fee (DEF)
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1.2% for the first 4 years.
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*WARNING: The comparison rate is calculated on a loan of $250,000 over 25 years. This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. All loans are subject to the lenders normal terms and conditions. Loan qualification criteria apply. Interest rate quoted is available for all new applications received. The rates are indicative only and subject to change at any time.
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