LoDoc Line of Credit Loan

The LoDoc Line of Credit Loan is a fully featured revolving loan secured by a registered first mortgage over residential property. It is available for applicants who are self-employed only for the past two years and are not in a position to provide full financial documentation at the time of application. It is designed for high net worth individuals and couples who may have an irregular cashflow and are attracted to the convenience of a line of credit to fund their personal and investment purposes. Customers who 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 borrowing to invest.

This loan is a flexible loan that can accommodate 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

$20,000

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 (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.