APPLICANT ELIGIBILITY CRITERIA
- Refinance rate must be lower than current rate.
- 12 months good conduct verified through loan statements.
- New P&I repayments must be lower than current P&I repayments.
- LVR is less than 80% inclusive of cash out, fees & charges.
- Clear Credit History.
- 650 minimum credit score.
RATE GUIDE | PURCHASE OR REFINANCE
LVR (min loan size $150K) | <60% | <65% | <70% | <75% | <80% |
Commercial Full Doc up to $3,000,000 | 7.99% | 8.09% | 8.19% | 8.59% | 8.99% |
LOADINGS
Offset Account | Available |
Interest Only (max 5 years, max LVR 75%) | 0.40% |
MAX LOAN SIZE & LVR GUIDE
0% – 80% | $3,000,000 |
- Principal & Interest maximum loan up to 80% LVR inclusive of any cash out, fees & charges.
- Interest Only maximum loan up to 75% LVR inclusive of any cash out, fees & charges.
- Inner City & Non-Metro maximum loan size is $3,000,000 up to 70% LVR & $2,000,000 up to 80% LVR.
- All metro & non-metro locations acceptable with minimum 50,000 population.
PURPOSE LOADINGS & RISK FEES
Lender Protection Fee (LPF)LPF is calculated based upon the total loan amount. | Standard Owner Occupied & Investment LVR’s <70% – 0.50% LVR’s <75% – 0.75% LVR’s <80% – 1.25% Co-Living (7-12 bedrooms) LVR’s <70% – 1.00% LVR’s <75% – 1.50% LVR’s <80% – 2.00% NDIS (> 4 Participants | Maximum loan term 25 years) LVR’s <70% – 1.00% LVR’s <75% – 2.00% LVR’s <80% – 3.00% |
PRODUCT OVERVIEW
- Available for purchases, refinances (including cash out) of acceptable commercial securities (see below) – excludes construction, new property purchase or property held inside SMSF.
- Available for Individuals, Company & Trusts e.g. Discretionary Family & Unit Trusts.
- Maximum loan tern up to 30 years including up to 5 years Interest Only (no Cash Out if IO)
- Equity Release – $ for $ refinance plus Cash Out and amount must be lower than 10% of security value.
- If loan discharges inside first 3 years an exit fee applies of 3 months interest payments.
- Maximum Single Borrow Exposure is $7,500,000.00.
ACCEPTABLE SECURITIES
- Strata Offices & Showrooms (minimum area 30 m2)
- Retail outlets e.g. shops, restaurants
- Industrial units (minimum area 30 m2)
- Industrial warehouses
- Mixed Residential & Commercial use
- Residential properties (> 4 or more on one title)
- NDIS properties (> 4 or more participants)
- Co-Living properties (7-12 bedrooms)
- Industrial workshops
- Medical/Dental suites
- Childcare centres
- Services apartments
- Boarding houses
- Student accommodation
- Strata Retirement Units
- Function Halls
- Lifestyle farms
APPROX. FEES
GET IN
Application Fee | $499.00 |
Valuation Fee | At cost |
Lenders Legal Fee from | $1,500.00 |
Annual Fee | $0.00 |
Settlement Fees | $299.00 |
GET OUT
Early Termination Fee | 1.00% of original loan amount within 36 months |
Discharge Admin Fee | $995.00 (If discharged within 36 months, both Early Termination & Discharge fee are charged) . |
Other terms, fees & charges may apply. Refer to the Postcode Guide for more details on acceptable security locations and LVR limitations.
Product availability & conditions subject to change without notice. Australian Credit Licence 409 649. Rates effective from 27th January 2025.