| PURPOSE: |
Purchase OR refinance of residential real estate. |
| ON GOING FEES: |
NIL. |
| REDRAW OPTIONS: |
$250.00 min - $20,000.00 per day/month via either Phone Banking, Internet Banking or written request. A 22.00 fee applies if a redraw is completed via written request. |
| PAYMENT MODE: |
Fortnightly (made on the 15th of each month and the last working day of each month) or monthly payments (last working day of the month) are permitted. Loan payments are generally made via direct debit. However, the options of making payments via Direct Salary Crediting or BPAY are available. |
| ACCOUNT ACCESS: |
Is available via Telephone and Internet banking. These services enable you to:
- Receive up to date balances;
- Find out what your monthly loan repayment is;
- Order a statement;
- Redraw from your loan;
- Make additional repayments;
- Change your repayments;
- Inquire on recent transactions on your loan account; and
- Update your contact details.
|
| SPLIT LOANS: |
Can be split into maximum of three (3) loan accounts. |
| FACILITY TYPES: |
Variable Principal Interest for the entire loan term OR Variable Interest Only for a maximum of 5 years, reverting to Principal Interest for the remaining loan term. One to five year fixed rate Principal Interest OR Interest Only loans are available on request. Please contact us for a fixed rate quote. |
| LOAN TERMS: |
Terms are available form 15 years up to 30 years. |
PRINCIPAL REDUCTIONS
and
DISCHARGE PRIOR TO MATURITY: |
Unscheduled additional repayments are allowed however, an early repayment fee will apply if the loan is discharged within the first 5 years as follows:
STANDARD LOANS:
1.70% of the facility limit if the loan is discharged within the first 3 years.
1.40% if the loan is discharged in year 4.
1.10% if the loan is discharged in year 5.
LOW DOC LOANS:
1.90% of the facility limit if the loan is discharged within the first 3 years.
1.60% if the loan is discharged in year 4.
1.30% if the loan is discharged in year 5.
There is no further penalty for either the Standard or Low Doc product after the fifth anniversary of the loan. |
