LoDoc Loan
This loan
is a fully featured variable or fixed rate home loan to assist with the
purchase or refinance of owner-occupied or investment residential
property. It is designed for customers who are seeking full flexibility
and features in their home loan. 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 time of
application.
If you do not wish to
give us your ABN, or your ABN is less that 2 years old (you have been in
business less than 2 years), you will have to apply for our
NoDoc
Facility.
It is ideal
for customers who may be uncertain of their future and want the peace of
mind of knowing that their home loan is flexible enough to accommodate
their changing circumstances. Repayments can be tailored to suit
individual needs.
|
Purpose |
Purchase or Refinance
residential property
Includes the non-structural renovation of
new and existing properties. |
|
Loan
Type |
Owner Occupied or
Investment. |
|
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 |
minimum 12
months.
maximum 30 years. |
|
Redraw
Facility |
Redraw available for
Variable rate loans at no cost.
Amounts via debit card and direct
debit at a fee $1.50 per transaction. |
|
Lump
Sums |
For Variable Rate loan it
is available at any time. For fixed rate loans the maximum
additional repayments are up to $10,000 in a 12 month period without
penalty. Prepayments that exceed this tolerance may incur an early
repayment cost. |
|
Interest
Only Option |
1 to 10
years. |
|
Fixed Rate
Option |
1, 2, 3, 4, 5, 7, or 10
years (At
the end of the fixed rate term the loan will automatically roll over
to the variable rate unless another fixed rate term is
elected). |
|
Split Loan
Option |
Customers can split loans
with the option of 2 variable rate loan and up to 2 fixed rate
loans. |
|
Repayments |
Principle & Interest
can be made monthly, fortnightly or weekly
Interest only is paid
monthly on anniversary day of drawdown |
|
Features |
|
• |
Direct Salary Crediting. |
| • |
Debit Card. |
| • |
Phone Banking. |
| • |
Internet Banking. |
| • |
Portability provides for the loan to be
transferred from one property to
another. | |
Fees and charges
are payable on all mortgages
Details of Terms and Conditions are
available on application.
