Bridging Loan

 General Lending Rates

 Product Features

• Digital Banking

• Redraw Additional Information: Redraw: You can redraw funds if you need them and funds can be redrawn online at any time without a fee.

• Other Additional Information: Flexibility: there is no need to make repayments during the 12 month Bridging Loan period.

• Extra Repayments Additional Information: Additional repayments allowed and there are no penalties for early repayment.

 Product Eligibility

• Residency Status - Must Live In Australia And Be Either: An Australian Citizen, An Australian Permanent Resident Or A New Zealand Citizen.

• Min Age - 18.

• Other Additional Information: Applications for finance are subject to Newcastle Permanent’s normal credit approval process. We recommended contacting us to discuss eligibility requirements as a Bridging Loan is not suitable for all customers.

• Natural Person

 Bank Fees and Charges

• Default Administration Fee 1 (Event), Amount: 35.00. Additional Information: Where one payment or less is in arrears at the end of the month.

• International Transfer Inward (Event), Amount: 12.00. Additional Information: Fee applies for the conversion of international transfers in a foreign currency to Australian dollars.

• Substitution In Security Fee (Event), Amount: 350.00. Additional Information: Payable when the Security listed on a mortgage is changed.

• Special Clearance On Cheque (Event), Amount: 15.00. Additional Information: Fee applies if you request a special clearance on a cheque deposited into your account. It is debited to your account at the time each request is made.

• Settlement Cheque Fee Npbs Cheque Only (Event), Amount: 5.00. Additional Information: Payable to us when we are required to issue Financial Institution Cheques for settlement. Financial Institution Cheque means a cheque which is issued by us and drawn on us. Where the settlement cheque is drawn by a third party, the fee charged to us by the third party will be passed on to you. The amount of these third party fees may vary and are unascertainable as at the date of these terms and conditions.

• Financial Institution Cheque Replacement (Event), Amount: 15.00. Additional Information: Fee applies if you request us to replace a lost/stolen/destroyed financial institution cheque we have drawn on your behalf. It applies for each replacement cheque and is payable on request.

• Establishment Fee (Upfront), Amount: 595.00. Additional Information: Establishing a loan is an involved process and requires the expertise of trained staff to assess the loan application, create detailed documentation, coordinate settlement and register the mortgage.

• Document And Miscellaneous Service (Variable), Amount: Not Listed.. Additional Information: Fee applies if you request copies of documents such as withdrawal slips or statements, you ask us to verify a transaction on your account or you request any other information. It is calculated on an hourly basis, and charged to your account on a pro-rata basis (subject to minimum charges applying) after the search is undertaken. $60/hour (min $10/copy).

• Settlement Fee (Variable), Amount: Not Listed.. Additional Information: Payable to us when we or our agents are required to attend settlement to collect deeds or related documents or where there are any additional costs associated with settlement (for example, this may include an agents fee or Property Exchange Australia (PEXA) fees).

• Electronic Transfer Fee (Event), Amount: 30.00. Additional Information: Payable to us when we are required to electronically transfer money for settlement.

• Settlement Reschedule Fee (Event), Amount: 85.00. Additional Information: Payable to us when your discharge settlement is cancelled and/or rescheduled. This fee is payable in either cash or cheque at the time of settlement.

• Redraw Fee Via Branch (Withdrawal), Amount: 25.00. Additional Information: Redraw of advance funds via a Branch.

• Default Administration Fee 2 (Event), Amount: 50.00. Additional Information: Where more than one repayment is in default (the fee will be charged the month the payment is due and each later month until the month after you pay the amount).

• Dishonour (direct Debit And Cheque) (Event), Amount: 9.00. Additional Information: If you ask us to take a payment, either direct debit or salary deduction and you do not have enough funds in your account to cover this payment, you will be charged a fee.

• Other Fees And Charges (Variable), Amount: Not Listed.. Additional Information: Other Fees and Charges: Including Government fees and Charges, Legal Fees, Lender's Mortgage Insurance.

• Discharge Administration Fee (Exit), Amount: 250.00. Additional Information: Payable whenever we arrange for a discharge of mortgage. There may also be fees charged by a third party.

• Consent Fee (Event), Amount: 200.00. Additional Information: Payable whenever we agree to a change relating to the title of the property.

• Title Search Fee (Event), Amount: 75.00. Additional Information: This comprises our external searcher’s fee and the Land and Property Information fees. (If the security involves a Community Scheme, or is outside New South Wales, or is old system title, this fee is unascertainable and may be higher. We may charge you what our solicitors or agents charge us to perform this search).

• Valuation And Inspection Fees (Variable), Amount: Not Listed.. Additional Information: When assessing an application it may be necessary to value a property that is being used as security for the loan. A qualified valuer will be required to complete the valuation. For building loans, inspections may be required at various stage of the build. For all properties the fee will be set by negotiation depending on the particular property. Generally Newcastle Permanent will pay the cost of up to one valuation. However valuation and inspection fees may be payable and the cost is unascertainable

 Limitations & Restrictions (Constraints)

• Max Lvr of 0.80 Additional Information: Maximum LVR for Bridging loan purposes only.