Hiya
Only playing around the edges, but there appears to be a residential and commercial version
Borrower Type
All borrower types considered - Individuals, Companies andTrusts
Interest Capitalisation Schedule(6)
Year 1 - 4.25%, Year 2 - 3.0%, Year 3 - 2.0%, Year 4 - 1.0%Based on an initial LVR of 80% + Fees
Term
30 Years - Initially 5 years Interest Only
Rate Reduction
0.5% p.a. after 4 years, subject to satisfactory conduct
Rollover
After 2 yrs the Borrower may request a loan Rollover and restartthe interest capitalisation(6)
Locations
All metro areas and major regional centres considered
Fixed Interest Rate
1,3,5 years available on request
Variable Borrower Rate(3)
7.95% p.a. (available till 30 Nov 06)
Application Fee
$550
Interest Paid (1),(2),(7)
(%)
Interest (1), (2)
Capitalised (%)
LVR (Based on
initial value) +
Fees (%) *
At Start
N/A
N/A
80.00%
End of First Year
3.70%
4.25%
83.20%
End of Second Year
4.95%
3.00%
85.80%
End of Third Year
5.95%
2.00%
87.50%
End of Fourth Year
6.95%
1.00%
88.40%
End of Fifth Year
7.45%
0.00%
88.40%
*LVRs generated excluding fees
EXAMPLE OF STANDARD PRODUCTStandard Capitalisation
4.25%, 3%, 2%, 1%
Initial LVR / Expected Final at end of 4yrs
80% (Initial) / 88.4% (Final) + Fees (2)
Borrower Rate (available till 30 Nov 06)
7.95% p.a.
Reduction in rates (after 4 years)
0.50% p.a.
(assumes BBSY 6.15% p.a.)
REQUIRED BORROWER INFORMATION
Income:
Serviceability is to be demonstrated and evidenced by the following:
Companies/Trusts/Partnerships: Evidence of income, lodged company accountsand/or tax assessments are required for at least 2 years.
o
Individuals/Self Employed: Signed income tax assessments/returns with allschedules for the last 2 years. Individuals to provide confirmation of income fromemployer plus sighting of last two pay slips.
o Where tax returns are two years old, management accounts and businessactivity
statements must be provided and certified by the borrower's accountant.
CRAA:
For all loans clear or a satisfactory explanation provided to Lender
1 Additions to Borrower's Rate.2 Fees can be added to the loan up to a maximum of 2% of the property values. Fees allowed to be
capitalised are establishment fee, legal fees, valuation costs and title insurance.
3 Securities outside the centres mentioned above add 0.35% to the Borrower Rate.4 DEF is applied if more than 50% of loan amount is paid in within any year during the first 5 years. The
DEF is calculated on the total loan max LVR amount.
5 At the Lender's complete discretion (subject to revaluation and servicing assessment).6 Rollovers may occur only once over the life of the loan.
7 Rates noted are variable. Under this product a fixed amount is capitalised over a knownschedule.
Should the underlying variable interest rate change then the amount of interest paid under this productwill vary accordingly.
8 Legal fees may increase with increased complexity of deal.
Other Fees
Application Fee
Nil
Commitment Fee
(to cover expected valuation cost)
$375 for loans up to $750,000.$500 for loans up to $1.25m.
Rollover Fees(5),(6)
New valuation costs + 0.50%
Legal (payable at Settlement)(8) (2)
$500 + disbursements
Title Insurance (payable at Settlement) (2)
0.05%
Completion Fee (payable at Settlement) (2)
$500
Deferred Establishment Fees (DEF)(4)
3.5% - 1 Year, 2.5% - 2 Year, 2.0% - 3 Year,1.0% - 4 Year.
Risk Fee (2)
0.90% payable on settlement
Redraw Facility
Min $500, 2 free per month
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METRO AREAS
Include: All metro and major regional centres such as Wollongong, Newcastle, Central Coast, Cairns,Townsville, Gold Coast, Sunshine Coast, Albury/Wodonga, and Geelong.
