Target Clients:   

·         Non-residents purchasing investment property in Australia

·         Individuals – Salaried Income Earners only

Loan Features:

·         Limited Featured Variable rate loan facility

·         Full supporting documentation and evidence of income is required for all applicant/s

Loan Purpose:

·         Loans considered for purchase, refinance or consolidation

·         Investment residential security property

·         Loans must NOT be regulated by UCCC

Loan Term:

·         Up to 30 years

Loan Size:

·         $30,000 - $500,000

Loan to Value Ratio:

·         Up to 80% for loans up to $300,000 (Subject to individual LMI guidelines)

·         Up to 75% for loans from $300,001 to $500,000 (Subject to individual LMI guidelines)

Interest Rate:      

·         Variable rate only

Repayment Options:          

·         Principal and Interest

·         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

·         Funds paid into bank account

·         Internet Access

·         Telephone Access

Loan Account Fees:

·         No monthly account maintenance or ongoing fees

·         No redraw fees

·         No free non-standard transactions p/m

·         No Internet or telephone banking fees

·         No portability or top-up fees

·         Unused limit fee – if all funds not drawn within 3 months of settlement, fee charged to loan account in month 4

·         Early repayment fee – if discharged < 5 years or 50% principal repaid in first year