Line of Credit Loan
The Line of Credit is a fully
featured revolving loan secured by a first registered mortgage over
residential property. It is designed for high net worth individuals and
couples attracted to the convenience of a line of credit to fund their
personal and investment purposes. Customers typically are actively seeking
to increase their wealth by paying off their loan as soon as possible,
business owners needing access to cash, or
are investors that are borrowing to invest.
This
loan is a flexible loan that can accommodate a customer's changing
circumstances. It is available for any personal or business purpose with no further
application required to borrow funds within the credit limit, once the
loan has been approved.
|
Purpose |
Revolving line of credit
for personal, business use or to invest. |
|
Loan
Type |
Owner Occupied or
Investment property. |
|
Minimum
Loan |
$50,000 |
|
Maximum
Loan |
$2,000,000 |
|
Maximum
LVR |
80% on standard
residential property. |
|
Ongoing
Account keeping fee |
No monthly or annual
service fees apply. |
|
Term |
No Set
Term. |
|
Redraw
Facility |
Redraw available at no
cost.
Amounts via debit card, chequebook and direct debit at a
fee $1.50 per transaction (only if more than 6 transactions per
month) |
|
Lump
Sums |
Available at any
time. |
|
Interest
Only Option |
Full term of the
loan. |
|
Fixed Rate
Option |
Not
applicable. |
|
Split Loan
Option |
4 splits available. |
|
Repayments |
Interest only is paid
monthly on anniversary day of drawdown. |
|
Features |
|
• |
Direct Salary Crediting. |
| • |
Debit Card. |
| • |
Phone Banking. |
| • |
Internet Banking. |
| • |
Cheque Book. |
| • |
Portability provides for the loan to be
transferred from one property to another. |
| • |
Monthly
statement. | |
Fees and charges
are payable on all mortgages
Details of Terms and Conditions are
available on application.
