This loan is suitable for
A person who is self employed - Last 2 years of financial statements (Balance sheet and Profit & Loss) plus taxation returns for applicants, business and /or company for the last 2 full financial years. For individuals tax returns to be supported by the most recent (up to 18 months old) corresponding Notice of Assessment issued by ATO.
Applicants self employed <12 months not acceptable for LMI proposals..
A guarantor can be used - Required under Family Pledge.
Home Loan Loan Term
Loan term up to 30 years
Home Loan Loan Size
For loans with a minimum value of $30,000 and a maximum of $1,000,000
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Repayment Options
Fortnightly repayments accepted.
Monthly repayments accepted.
Extra Repayments
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Split Loan Facility
Split loan is available.
Offset
Not available.
Redraw Facility
Redraw is available - Free on Online or phone
Manual redraws fee $50 waived from 17 October until 31 January 2012 who lodged in branch or send direct to Loan Administration..
LVR for Bank of Melbourne Basic Home Loan
Maximum available LVR is 95%
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Fees for Bank of Melbourne Basic Home Loan
Monthly Fee $0.00
Annual Fee $0
Establishment Fee $500
Discharge Fee $250
Legal Fee $0
Portability Fee $500
Settlement Fee $100
Switching Fee $500
Early Termination Fee $0
