100% Loan Product (existing clients only)

A loan facility up to 100% of the property valuation for borrowers who have strong cash flow but who have limited savings / equity

 Ideal for 1st home buyers with strong income and investors

 Comparison Rate Schedule available on request

 100% Funded Home Loan  Request More Information.

Suitable for:-	First home buyers with strong incomes High income investors
Loan Purpose	Purchase, construction
Applicant requirements	Credit History: No credit defaults allowed. Borrowers must show good repayment history for the last 6 months on all other loans, including credit cards Employment: Minimum of 12 months in current position, 6 months acceptable if in same industry 2 years Evidence of funds to cover costs essential
Minimum Loan	$50,000
Maximum Loan	$500,000 - refer below
Maximum LVR (Loan to Value Ratios)	Some location restrictions apply
Lenders Mortgage Insurance (LMI)	Payable by borrower above 80%
Term of Loan	Nominal term of 30 years
Repayment Method	Principal & Interest (P&I)
Interest Rate Options	Variable or fixed
Interest Rate Switching	Yes
Redraw Offset Account
Line of Credit	Not applicable
Security Type	Residential units or houses, construction (commencing immediately), security property must be ready saleable, no adverse features, no vacant land, no third party security
Security Restrictions	Capital cities and regional centres only Mortgage Insurance guidelines apply
Repayment Options	Weekly, Fortnightly, Monthly, Once off payments accepted
Accelerated/Additional Repayments	Yes, at any time unless rate is fixed
Redraw	Yes at no cost (up to available funds), No minimum redraw
Access	Internet 24/7, Telephone Banking
Visa Debit Card &/or /Cheque Book	Available
Account /Transaction Fees	No ongoing fees & charges
Payments In/Out	Pay anyone, Direct Debit/Credits, Salary, EFT, account transfers
Payment Re-amortisation	Yes
Transfer of limit	Yes
Partial Drawdown at Settlement	n/a
Statements	January & July – Separate statement for each account
Application Fee	$500 payable at settlement from loan proceeds
Valuation Fee	$250 for one property up to $700,000 (payable on application by card debit). Additional cost may apply for larger, additional & country properties.
Legal Fees	$300 + disbursements (may vary slightly)
Borrower Legal Fees (purchases)	At borrowers expense
Substitution of Securities	Yes, admin fee plus legal & valuation fees
Deferred Administration Fee	1.2% of initial loan amount in first 3 years, 0.8% in 4th year and 0.6% in 5th year.  Also payable if >50% paid in first 5 years)