ADVANTAGE FINANCE (SA) NoFin credit access
investING loan

• Flexible facility offering direct salary crediting, a full redraw facility (with Direct Card) with no ongoing fees at a very competitive interest rate.
• Ideal for self employed borrowers unable to provide financials at the time of application. Borrowers may be companies or trusts. Loans may be regulated or unregulated, and for any worthwhile purpose, including land purchase/refinance and construction.
• ABN must be valid for a minimum two year period and be registered for GST

LVR/Loan Amount

80% $50,000 - $1,000,000 (metro areas)
80% $50,000 - $750,000 (regional areas)
80% $50,000 - $300,000 (all remaining areas)

Maximum Exposure

There is no set exposure limit per applicant or associated entity for this loan product, however exposure limits are still subject to conditions set by applicable Lenders Mortgage Insurers. GE max exposure per applicant $2,500,000, thereafter full traditional income evidence required. PMI max exposure per applicant $2,400,000, thereafter full traditional income evidence required

Lenders Mortgage Insurance (LMI)

LMI is paid by the borrower. There is an option for the LMI premium to be paid by the funder if required (an additional 0.30% loading applies).

NoFin Credit Access NoDoc

• Max. LVR 65%
• Max. loan amount of $1M (dependant on location)
• Minimum self-employment period waived
• No Asset and Liabilities statement or income estimate required
• 1 year ABN plus applicants must be registered for GST for a minimum of 3 months
• For purchase or refinance only (no cash out permitted)

Loan Terms

Up to 30 years

Repayments

Principal and Interest or Interest Only for 1 to 10 years

Frequency

Instalments can be made weekly, fortnightly or monthly

Repayment Options / Frequency

Repayments can be made by direct debit request or direct electronic credit weekly, fortnightly or monthly. Extra payments on variable rate loans can be made at any time.

Split Facility

One loan with up to 4 loan splits/portions allowed. Useful for distinguishing between loan purposes and providing assistance with income tax preparation.

Fixed Option

All or part of the loan can be converted to a fixed rate loan at any time at no cost (subject to a 4 split/portion maximum)

Direct Salary Crediting

Salary and other income such as rental income or dividends can be directly paid into the loan account and accessed via the redraw facility over the phone or via the Internet when needed.*

Redraw

Available as required ($50 min.) accessed over phone or via the Internet

Rate reduction / Stepdown

Available when customers can provide satisfactory financials

Additional Payments / Principal Reductions

Extra payments (no limit) are allowed on variable rate loans and can be made at any time. ‘Manual’ re-amortisation requests apply.

Portability

The security property can be substituted if required. A ‘Deed of Set Off’ is available, allowing up to 3 months for the security property to be substituted. Note there may be restrictions if
loan amount/LVR needs to be altered.
*Up to six free non-standard transactions a month (includes Direct Salary Credits, Other Income Credits, Bpay Credits, direct card transactions, cheque book and optional direct debits)

Need more information or explanation?

Contact one of our friendly loan consultants and we will gladly assist you - 08 8351 5444