Flexi Choice Home Loan
Flexible Choice Home Loans are vailable for Home Loans, Investment Loans , Refinance, Purchase, Construction or First Home Buyer and Land Loans. Lo Doc or Full Doc.
| FEATURES: | |
| Loan Application Fee | Nil |
| Monthly Fees | Nil |
| Account Keeping Fees | Nil |
| Annual Fees | Nil |
| Valuation Fee | $295 per property up to $500,000 Higher fee will be quoted if property >$500,000 (if construction, plus $500 to cover all progress valuations, this is taken at settlement) |
| Minimum Loan Term | 12 months |
| Maximum Loan Term | 30 years |
| Maximum Construction Period | 12 months |
| Minimum Loan Amount | $50,000 |
| Maximum Loan Amount | No maximum - Subject to standard lending criteria |
| Interest Rate | Variable or Fixed |
| Repayment Type | Principal & Interest or Interest Only |
| Repayment Method | Direct Debit or Direct Salary Credit |
| Repayment Frequency | P& I - Weekly, Fortnightly or Monthly I/O - Monthly |
| Interest Only Repayments | Available up to 10yrs |
| Extra Repayments | Variable (Yes - Free and unlimited) Fixed (No) |
| Internet & Phone Banking | Yes - Free |
| Redraw | No during fixed period otherwise Yes - Free via Internet; Free via Manager or Lender if >$2,500 |
| Portability | Yes – Fee applies |
| Statement cycle | Bi-annual unless otherwise requested |
| Debit card available | Yes if variable - $1.50 per transaction, however, if fixed, no debit card available |
| Interest | Calculated on outstanding daily balance and charged monthly in arrears |
| Security required | Registered 1st mortgage over residential property |
| Deferred Establishment Fee | 1% years 1 to 3 0.50% year 4 0.25% year 5 |
| Settlement Cost | $25 settlement chq fee |
| Solicitor's fees | Yes - and will be charged at settlement |
Free Yourself!
You can never be locked into any loan by any lender! (This means that irrespective of being in a fixed rate loan or a variable rate loan, you can leave that lender by paying their indicated break fee, if applicable. It is often the case that break fees or loan discharge fees are less than the benefits received when switching to a better loan product.)
Lowest Interest Rates
Very Important information when selecting a Home Loan
When selecting a home loan, always insist on a copy of the "Comparison Interest Rate Schedule "
Comparison Interest Rates take into account the actual cost of the money you borrow.
Selecting an initial low interest rate home loan could actually cost you more over the term of your Home Loan.
Glossary
- LMI - Lenders Mortgage Insurers
- P&I - Principal and Interest
- I.O. - Interest Only
- LVR - Loan To Value Ratio
- DSR - Debt Service Ratio
- NSR - Net Surplus Ratio
NB: Please Note with Flexi Choice Construction Loans
Builder's claims will not be paid before the work is complete. We will forward payment to your builder, the lesser of:
- The amount claimed by the builder
- The amount stated in the building contract payment schedule
- The amount authorised by you; or
- The amount our valuer authorises (where we require a valuation) - Requests for payment for materials that are yet to be fixed to the construction site will not be processed.