Variable Rate Investment Property Loan

 General Lending Rates

• Lending Rate Type: Variable
• Interest Rate: 9.64%, Comparison Rate 0.00%
• Repayment Type: Interest Only
• Loan Purpose: Investment

 Product Features

• Redraw Additional Information: The product includes redraw features

• Other Additional Information: A variable rate loan which gives flexibility and a choice of different payment options for investment purposes. The loan can be used for investment residential property purchase, construction of single residential dwelling, refinancing of an existing investment property loan, other investment opportunities (e.g. shares), personal purposes, refinancing of existing loans

• Complementary Product Discounts

• Other Additional Information: Partial Split is available

• Other Additional Information: Cancellation of the package : A package owner may cancel the package at any time by giving us 14 days advance notice in writing.

• Other Additional Information: Loan Payment Method - Direct Debit (preferred), Direct Credit, Branch Payment, Internet or Phone Banking

• Other Additional Information: Repayment frequencies includes weekly, fortnightly or monthly

• Other Additional Information: Substituting a security : You may ask us to accept a new mortgage over other land as a substitute for any mortgage which is security for your loan. We may agree to this if you satisfy any reasonable requirements that we have, such as repaying part of the loan amount. We will require the new mortgage to be provided at the same time that the existing mortgage is discharged. We charge a fee for substituting a mortgage or other security.

• Other Additional Information: Statements of account : We will send you a statement of your loan account at least every six months or more frequently if you request

• Other Additional Information: The product provides switching (from another product) feature

• Other Additional Information: This loan can be part of a combination loan/construction loan

• Other Additional Information: The product provides options which includes BPAY, reduced repayments (incl. parental leave), progressive drawdown, repayment holiday, portability,smartPay, loan increase (top up), premier advantage package and lenders mortgage insurance

• Extra Repayments Additional Information: The product includes extra repayment features.

• Fraud Protection Additional Information: The product includes fraud protection features.

• Guarantor Additional Information: Subject to terms and conditions, this product includes guarantor features.

• Relationship Management Additional Information: Relationship management is available for eligible customers.

• Other Additional Information: Total loan term is up to 30 years

 Product Eligibility

• Other Additional Information: Individuals, Companies, Discretionary or Family Trusts (individual or non-individual trustees)

 Bank Fees and Charges

• Lending Establishment Fee (Upfront), Amount: 600.00.

• Bank Cheque Issuance Fee (Event), Amount: 10.00. Additional Information: $10 per cheque (1st cheque is free)

• Monthly Loan Account Fee (Periodic), Amount: 8.00.

• Missed Payment Fee (Event), Amount: 15.00.

• Document Processing Fee (Event), Amount: 100.00.

• Account Overdrawn Fee (Event), Amount: 15.00.

• Loan Discharge Fee (Event), Amount: 350.00.

• Annual Package Fee (Periodic), Amount: 395.00. Additional Information: For customer opting for Premier Advantage Package

• Lenders Mortgage Insurance Premium (Variable), Amount: Not Listed.. Additional Information: If your deposit is less than 20% then Lenders Mortgage Insurance is usually required. There may be other circumstances where Lenders Mortgage Insurance is also required. As Lenders Mortgage Insurance reduces bank's risk as a lender when providing a home loan, you may be able to apply for a home loan and get into your home sooner, with a lower deposit. Lenders Mortgage Insurance insures bank for any shortfall in the event that you default on your loan and if the proceeds from the property sale are not enough to pay off the loan in full. The cost of Lenders Mortgage Insurance is calculated as a percentage of the loan amount. The percentage applied will vary depending on a number of factors. Please speak to your lender if you would like to understand this process in more detail. The cost of Lenders Mortgage Insurance premium is passed on to you. We do not receive a commission on Lenders Mortgage Insurance.

• Property Valuer Fee (Variable), Amount: Not Listed..

 Limitations & Restrictions (Constraints)

• Min Lvr of 0.00

• Max Lvr of 0.95

• Min Limit of 10000.00 Additional Information: The minimum amount financed is $10,000

 Document Downloads

  pap-conditionsofuse.pdf (196 K)