Products -- Low-Low-Doc Premium |
Target Clients: |
· Clients that are self-employed or full-time investors and are unable to provide extensive financial statements or taxation returns
· No minimum period of self-employment is required |
Loan Features: |
· Basic Variable or Fixed rate loan with direct credit facility
· No supporting documentation required for self-employed applicant/s
· Asset lend – no stated income or A&L required
· No PAYG co-borrowers |
Loan Purpose: |
· Loans considered for purchase, refinance or consolidation
· Investment or owner-occupied residential security property
· Loans must NOT be regulated by UCCC |
Loan Term: |
· Up to 30 years |
Loan Size: |
· $30,000 - $500,000 (Subject to individual LMI guidelines) |
Loan to Value Ratio: |
· 65% for loans up to $500,000 – Metro & Regional Areas of Australia |
Interest Rate: |
· Variable or Fixed rates (up to 5 years) available |
Repayment Options: |
· Principal & Interest
· Interest only
· I/O for 10 years then amortisation program commences |
Repayment Methods:
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· Direct Debit from bank account
· BPay |
· Direct Salary & Other Income Crediting |
Repayment Frequency: |
· Weekly, Fortnightly or Monthly |
· Day & Date can be nominated |
Additional Repayments: |
· Can be made at any time using the above methods |
Redraw: |
· No minimum redraw amount
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· Internet Access
· Telephone Access |
Program conversion or rate reduction: |
· The Lender will consider a reduction of the interest rate when all borrowers provide current financial information and tax returns that comply with the Lender’s lending criteria.
· Loans greater than two years old, that have an unblemished repayment history, will have their interest rate reduced by 0.20%. |
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