RATE GUIDE | PURCHASE OR REFINANCE
| LVR | <60% | <65% | <70% | <75% | <80% | Regional <60% |
| Commercial up to $1.5M | 7.74% | 7.74% | 7.74% | 8.14% | NA | 8.14% |
LOADINGS
| Offset Account | add 0.10% |
| Interest Only (max 5 years) | add 0.30% |
| Loans to $2M | NA |
| Lender Risk Fees (LRF) (Fee calculated based upon approved loan limit & not added to the interest rate). | LVR’s <60% Regional/Unclassified – 0.50% LVR’s >60% & <70% – 0.50% LVR’s >70% & <75% – 1.00% |
MAX LOAN SIZE & LVR GUIDE
| LVR | Inner City | Metro | Non-Metro | Regional |
| 0 – 70% | $2,000,000 | $2,000,000 | $2,000,000 | $1,500,000 (60%) |
| 70.01% – 75.00% | $1,500,000 | $1,500,000 | $1,500,000 | NA |
PRODUCT OVERVIEW
- Available for purchase, refinance or SMSF Express refi of acceptable residential securities.
- SMSF Express Refi uses 100% of rental income evidenced by 12 months rental history, 2 years clear loan conduct and with a maximum LVR of 70%.
- Only Corporate Trustee structures accepted.
- Legal & Financial advice is required for all applications (some exceptions may apply for existing SMSF’s)
- Maximum loan term of up to 30 years.
- 100% Offset Account available with 0.10% loading to the applicable rate.
- Maximum Single Borrow Exposure is $3,000,000.00.
- Liquidity Test – 7.5% of loan amount post settlement.
- Net Asset Test – $120,000.00 in liquid assets in the fund prior to funding being sought.
- Servicing evidenced by member(s) superannuation contributions & rental income.
- Other investment income may be used for servicing e.g. max deeming rate of 3% p.a. averaged over 2 years.
- NDIS securities may be accepted – refer to your BDM
- Additional contributions can be accepted if regular (monthly) over a 6-month period (Employer or SMSF).
- Irregular contributions can be accepted if evidenced over 2 financial years (lower amount to be used).
- If the client/s have not paid additional super contributions and have the capacity, these can be accepted, subject to the members ability to service personal borrowings outside of super with the additional contribution(s) added as an additional liability for servicing purposes.
- Self Employed applicants required to evidence 2 years historical contributions being made to any Super Fund.
- Vacant land or construction not acceptable for SMSF lending purposes.
- Repayment options include Principal & Interest or Interest Only for a of maximum 5 years
- Unlimited additional repayments available without penalty.
- *Standard inclusions: documentation, review of CoS, settlement, 2 x Guarantors, review of Bare Trust.
APPROX. FEES
GET IN
| Application Fee | $299.00 |
| Valuation Fee | At cost |
| *Lender Documentation Fees from | $1,500.00 |
| Lender Annual Fee | $395.00 |
| Lender Settlement Fees | $250.00 |
GET OUT
| Discharge fees approx. | 3 mths penalty interest <3 yrs + 3rd party costs |
| Product Discharge Fee | $895.00 |
Other terms, fees & charges may apply. Refer to the Postcode Guide for more details on acceptable security locations and LVR limitations. Product availability & conditions are subject to change without notice. Australian Credit Licence 409 649. Rates effective from 15th October 2024.