Loan overview | Fully featured low variable rate home loan where self employed borrowers self certify their income as opposed to providing evidence of income. |
Interest rate | 8.90% p.a.Variable rate. | 8.80% p.a.Variable rate with premium rate discount. |
Comparison rates* | 8.92% p.a. and 8.95% p.a. | 8.90% p.a. and N/A. |
Loan purpose | Any worthwhile purpose. |
Loan amount | $30,000 - $1,000,000 |
Loan term | Up to 30 years. |
Maximum LVR | | Loan amount | Loan to value ratio |
Fastdoc 70 | $30,000 - $750,000 | 70% |
Fastdoc 80 | $30,000 - $1,000,000 | 80% |
Income verification | Fastdoc 70 | Self employed applicant declares affordability for investment purpose. Declaration of income and affordability for owner occupied purpose. No minimum self employed period. No minimum level of net assets required. |
Fastdoc 80 | Self employed applicant declares income and affordability. Applicant must have been self employed for more than two years. No minimum level of net assets required. |
Premium rate discount option | The variable rate is reduced by 10 basis points in exchange for a varied fee structure. This option is best suited to a loan amount over $350,000. The option can be removed at any time (for example, once the loan amount falls below $300,000) reverting to the variable rate. |
Repayments | • Principal and interest or interest only for 2, 3, 5 or 10 years. • Variable or fixed for 2, 3 or 5 years. |
Repayment method & frequency | • Loan repayments may be made by direct debit or direct salary credit. • Instalments may be made weekly, fortnightly or monthly. • Additonal repayments may be made at any time. |
Redraw facility | • Unlimited redraw at no cost. • The minimum redraw is $50 when using the telephone or internet. • There is also a pay anyone facility where payments can be made to any bank or credit union account (except credit cards) directly from your loan account. |
Split facility | Up to four separate loan accounts under the one facility, each with loan statements. Minimum split is $10,000 except for a card or cheque linked Line of Credit split where the minimum is $5,000. |
Loan portability | Substitution of the security property is available. Restrictions may apply if the loan size is altered. |
LMI capitalisation | Lender's mortgage insurance is payable by the borrower as follows: |
Loan amount | LVR range |
Up to $750,000 | 70% - 80% |
$750,001 - $1,000,000 | 65% - 80% |
• The LMI premium may be added to the loan amount without that amount being taken into account for the purpose of calculating the premium provied the maximum LVR is not exceeded. • If the lender is required to pay the LMI an interest rate loading may apply. |
Construction option | A construction option may be used to purchase land where there is an intention to build, construct a residential property on land already held and complete the land purchase and construction. Additional terms, conditions and progress payment fees apply. |
Online services | The Loan Service Net and Loan Service Line enable borrowers to view and transact on their loan via the internet and telephone. |
Loan statements | • Bi-annual statements are issued at the end of the financial year and the end of the calendar year. • Interim statements are issued on request, free of charge. |
| *These comparison rates are based on loan amounts of $350,000 and $150,000 over a period of 30 years and 25 years respectively. Warning: These comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in different comparison rates. Fees and charges are payable and a comparison rate schedule is available. |
This product sheet provides general information only. |
