Target Clients:   

·         Clients that are self-employed or full-time investors, for at least the last two years and are unable to provide extensive financial statements or taxation returns

Loan Features:

·         Variable rate Line of Credit with cheque book and direct credit & debit facilities

·         No supporting documentation required for self-employed applicant/s

·         Stated income and A&L statement required

·         Co-borrowers may be PAYG and provide evidence of income

Loan Purpose:

·         Loans considered for purchase, refinance or consolidation

·         Investment or owner-occupied residential security property

·         Loans can be regulated or non-regulated by UCCC

Loan Term:

·         Up to 30 years

Loan Size:

·         $30,000 - $800,000 (Subject to individual LMI guidelines)

Loan to Value Ratio:

·         80% for loans up to $800,000 – Metro areas of NSW, Vic & Qld

·         80% for loans up to $500,000 – Australia Wide

·         65% for loans from $500,001 to $600,000 - Australia Wide

Interest Rate:      

·         Variable rates only

Repayment Options:          

·         Interest only

·         I/O for 10 years then amortisation program commences

Repayment Methods:

·         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

·         Cheque book

·         Optional Direct Debit

·         Credit Card Sweep

·         Internet Access

·         Telephone Access

Loan Account Fees:

·         No monthly account maintenance or ongoing fees

·         No transaction fees

·         No withdrawal/redraw fees

·         No portability or top-up fees

·         No Internet or telephone banking fees

·         Unused facility fee  (<50% for <180 days)

·         Early repayment fee – if discharged < 5 years

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%.