Split Facility
One loan with up to 4 loan accounts allowed, comprising a mix of loan products. This is useful for borrowers distinguishing between loan purposes and providing assistance with income tax preparation.
Loan Size
$30,000 up to $2,500,0000
Purpose
Any worthwhile purpose.
Term
10,15,20,25 or 30 years.
Repayments
Principal and Interest or Interest Only for 2,3,5 or 10 years.
Frequency
Instalments can be made weekly, fortnightly or monthly. Extra payments on variable rate loans can be made at any time.
Direct Debit
Pay your loan by direct debit monthly fortnightly or weekly.
Direct Salary Crediting
Have your income directly paid into your home loan account and use your re-draw facility over the phone or via the internet to access your money when needed.
Pay Anyone
Transfer funds to any other Australian bank account or to your other loans.
Fees
- No monthly administration fees
- No fees charged on redraw
Internal Transfers
Transfer funds to your other loans or to other accounts within the same loan.
Redraw
Available as required ($50 min.), accessed over the phone or via the internet (variable rate only).
Principal Reductions
Yes no limit, however “manual” reamortisation requests apply.
LVR
| Loan Amount Max |
LVR |
| $30,000 - $650,000* |
95% |
| $650,001 - $750,000 |
90% |
| $750,001 - $1,000,000 |
85% |
| $1,000,001 - $2,000,000 |
70% |
| Where the applicant, product type and security meet certain criteria laid down by the LMI the max. LVR allowed on a loan up to $500K is 97%
|
Portablility
The security property can be substituted if required. Note there may be restrictions if loan size needs to be altered.
Statements
Free six monthly statements and free interim statements (issued upon request).
Convert to Fixed Rate
All or part of the loan can be converted to a fixed rate loan at any time at no cost (subject to a 4 account maximum). |