ADVANTAGE
FINANCE (SA) PREMIUM access
refinancing loan
- A loan with all the features at a very competitive
interest rate
- No on-going fees
- Suitable for PAYG or self-employed borrowers.
Two years tax returns are required for
self-employed borrowers. Borrowers must have a good credit
history and can be
companies or trusts
- Loans may be regulated or unregulated, and
for any worthwhile purpose
- LMI Capitalisation available
to maximum LVR of 90% (including LMI)
LVR/Loan Amount*
Up to 90% to $1 Million
*LVR/Loan
amounts may still be subject to conditions set by applicable
Lenders Mortgage Insurers
Lenders Mortgage Insurance (LMI)
If insured with Genworth - Payable
by the borrowers when the LVR is greater than 80% and/or
the loan amount is greater than $500,000. The LMI can be
capitalised on the loan amount to a
maximum LVR of 90%
If insured with PMI – Premium payable by borrowers on all
loans
Maximum Exposure
No set exposure limit per applicant or associated entity
providing serviceability is evident
Exposure limits may still be subject to conditions set by
applicable Lenders Mortgage Insurers
Genuine Savings
For loans >85% LVR, borrowers
must demonstrate genuine savings of at least 3% of the
proposed purchase price, held or accumulated over a minimum period
of 6 months
Loan Terms
From 15 to 40 years
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
Repayments
Principal and Interest
Interest Only for
1 to 10 years Fixed Interest Option 1 to 5 years
Repayment Options
Repayments can be made by direct debit request, direct
electronic credit or inter-account payment (IAP) and BPay
Frequency
Instalments can be made weekly, fortnightly
or monthly. Extra payments on
variable rate loans can be made at any time
Construction and Vacant Land loans
Not available
Telephone & Internet Access
Yes, 24 hours a day, 7 days a week
Direct Debit
Pay your loan by direct debit monthly
fortnightly or weekly
Direct Credits
Have your salary or rental income directly
paid into your loan account and use your
redraw facility over the phone or via the internet to access
your money when needed
Redraw
Available as required and accessed over
phone or via the Internet
Pay Anyone
3rd party direct debits from the loan
is permitted
Principal Reductions
Yes no limit, however ‘manual’ re-amortisation
requests are required
Portability
The security property can be substituted
if required. Note there may be restrictions if loan
amount/LVR needs to be altered
Need more information or explanation?
Contact one of our friendly loan consultants
and we will gladly assist you - 08 8351 5444
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