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Line Of Credit Home Loan
Interest Rate:
Comparison Rate:
Revolving credit for borrowers able to take a disciplined approach to managing their financial affairs.
Purpose
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Owner occupied or investment property.
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Eligible Borrowers
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Individuals, Companies or Trusts.
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Loan Size
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$50,000 - $2,000,000. Higher amounts may be available subject to conditions.
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Term
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Evergreen. No set term.
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Repayment Frequency
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Fortnightly or monthly.
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Portability
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Fully portable.
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Acceptable Security
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Residential property only. Vacant land and construction may be considered, subject to credit policy.
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Loan to Value Ratio
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Up to 90%
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Valuation Fee
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Nil for the first valuation to the cost of $250
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Other Costs
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Solicitor Fees: $350 payable at settlement. Processing & 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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Lenders Mortgage Insurance
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When loan exceeds 80% of the property value.
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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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Year 1: 1.2% of the approved loan amount
Year 2: 1.0% of the approved loan amount
Year 3: 0.8% of the approved loan amount
Year 4: 0.6% of the approved loan amount
(May vary depending upon the Lender)
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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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