Low Doc Non Conforming
Loan purpose |
Purchase or Refinance of residential Owner Occupied or Investment security property. Other worthwhile purposes also considered
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Suitable Borrowers |
Self Employed borrowers with an ABN for 2+ years. Must be GST registered for a minimum of 12 months. No Tax Returns required however declared income must be supported by last 12 months lodged BAS statements together with past 6 months primary bank statements. PAYG co-borrowers OK. A clear credit history is essential. Companies & Trusts also considered.
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Loan Amounts |
$50,000 - $3,000,000 per security
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Maximum LVR |
Up to 90% of purchase price or valuation, whichever is less. Any cash out component of the loan facility must be verified by the appropriate documentation.
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Loan Term |
Up to 30 years
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Interest Rate Options |
Variable interest rates only. Interest Only up to 5 yrs (a 0.25% interest rate loading applies) or Principal & Interest up to 30 yrs
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Repayment Options |
Repayments are deducted from your nominated bank account fortnightly or monthly. BPay & Direct Salary Crediting is available. Extra repayments are allowed at any time without penalty
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Redraw Facility |
Free & unlimited via telephone or internet banking. Funds will be available in your nominated bank account 2-3 working days after the request is processed. 6 free manual or debit card transactions allowed per month
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Loan Statements |
Download a statement for free at any time via your internet banking. Statements are also posted semi-annually (end of year & end of financial year)
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Acceptable Securities |
Registered 1st mortgage over your residential owner occupied or investment property. Must be larger than 50sq.m and have a separate certificate of title
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Portability |
Transfer your loan to other suitable security property in the event you sell your existing security property provided a simultaneous settlement occurs. Fees & charges may apply
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Construction |
Construction unavailable. Vacant land will be considered as an acceptable security (0.25% interest rate loading applies) and only where construction is contracted to commence within 12 months of settlement.
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Establishment Fees |
No ongoing or application fee. The only upfront cost is a standard valuation & legal fee. This cost will be outlined in your Letter of Offer. Statutory Government fees & charges apply. A credit risk fee is applicable for loans greater than 70%LVR
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Exit Fees |
A Deferred Establishment Fee is payable when the loan is discharged within the first 4 years from the date of settlement
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Mortgage Insurance |
No Mortgage Insurance
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