Our Home Loan and Mortgage Products
QUICKDIRECT BASIC VARIABLE HOME LOAN
So the guy in the back room with the thick glasses and bald head said “surely you can just create a low interest rate homeloan that’s easy to understand, has all the features a borrower needs – redraw, interest only options, extra payments and not have a twenty page brochure” Well he’s still in the back room but it doesn’t mean we didn’t listen – here’s our simple solution to a problem everyone else seems to think is a bit hard – all on one page.
Features include:
| Interet Rate |
6.58% |
| Purpose of Loan |
For purchase or refinance of residential owner occupied or investment properties |
| Loan Amount |
minimum $50,000 to $1,000,000 |
| Term |
25 or 30 years |
| Split Loans |
Can be split into maximum of 4 loan accounts |
| Redraw Option |
Unlimited access to your loan via telephone, internet or debit card |
| Rate Options |
(1) Variable Principal & Interest
(2) Variable interest only for first 10 years, then variable principal & interest for the remainder of the term |
| Acceptance Fee |
NIL (Note if application does not proceed & valuation has been completed, applicant will be liable for valuation fee) No monthly or annual fees applicable |
| Maximum Loan to Valuation Ratio (LVR) |
90% up to $750,000
85% up to $850,000
80% up to $1,000,000
Where LVR is above 85%, 5% genuine savings must be evident. |
| Offset Account |
100% redraw offset account available |
| Payment Mode |
Weekly,fortnightly or monthly - variable |
| Principal reductions |
Additional repayments are allowed at any time |
| Early Discharge |
If the loan is discharged within the five years of settlement, an early discharge fee will apply. This fee is equivalent to one monthly repayment, assuming the loan is fully drawn. |
| Mortgage Insurance |
No LMI required up to 80% LVR. Required where LVR is greater than 80% and can be capitalised above 90% for purchases. Max LVR 90% for refinances. |