Products -- Non-Resident Loan Premium |
Target Clients: |
· Non-residents purchasing investment property in Australia
· Individuals – Salaried Income Earners only |
Loan Features: |
· Basic Variable or Fixed rate loan with direct credit 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 or Fixed rates (up to 5 years) available |
Repayment Options: |
· Principal and 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 – except when fixed |
Redraw: |
· No minimum redraw amount
· Funds paid into bank account
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· Internet Access
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