Fixed Rate Home Loans - Commonwealth Bank - 1 yr fixed

This loan is suitable for
PAYG/ Self Employed/Casual/Contractor/Got Income excluding Newstart) note Austudy not applicable

Home Loan Loan Term
Minimum: No minimum
Maximum: 30 years (subject to expected retirement age of applicant) 10 years interest only period Owner Occupier and 15 Years for Investment.

Home Loan Loan Size
Minimum: $10,000 Owner Occupier / Minimum: $20,000 Investment
Maximum: No Maximum

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Home Loan Repayment Type
Principal & Interest and Interest Only
Interest in Advance (0.20% discount of Standard Fixed Rates for Interest in Advance)

Repayment Options
Weekly, fortnightly or monthly repayments Principal and Interest
Monthly Only during Interest only period

Extra Repayments
Additional Repayments can be made at any time (limit $10,000 per year) without incurring an Early Repayment Adjustment

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Split Loan Facility
Yes available

Offset
Partial Offset (1.5%)

Redraw Facility
Not Available during the fixed rate period
Not during fixed rate period however any additional repayments will be available for redraw if the loan reverts to a variable rate product
Redraw available via Internet and Phone Banking and can be linked to ATM Card

LVR for Fixed Rate Home Loans - Commonwealth Bank - 1 yr fixed

Owner Occupier, Investment, Construction Maximum LVR 90% LVR (Max 95% for existing CBA customers who hold a CBA Consumer Finance Product - for atleast 6 months with no arrears or missed payments) plus LMI
External Refinance (from other financial institutes) a maximum LVR 90%
Vacant Land Maximum LVR 90% LVR

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Fees for Fixed Rate Home Loans - Commonwealth Bank - 1 yr fixed

Application Fee: $600 ($300 for each subsequent loan if there is an existing loan).
Off The Plan purchases incur an application fee of $800
Monthly Loan Service Fee: $8 pm
Settlement Attendance Fee - $150 this fee is payable when the Bank (or its representative) is required to attend settlement for the purchase of a security property, or for the refinance of a loan with another credit provider (Fee displayed as Mortgage Preparation )
Settlement Fee - Discharge: $350
Additional Security Fee $150 for each additional security
Switching Fee: Up to $300 (where switching is allowed)
Switching Fee -This fee is payable if your customer applies to switch all or part of their home loan or investment home loan to another home loan or investment home loan product.
It does not include any out-of-pocket expenses which may be payable to a third party e.g. Stamp Duty
LMI Arrangement Fee - The amount of LMI payable may vary according to individual loans and is based on the loan amount. Note a LMI Arrangement fee, $20.00 will apply
Rate Lock - $750 this fee is payable at application where the customer's) request to lock in a guaranteed or fixed interest rate (rate is locked for 90 days). Rate Lock is not available for fixed terms 7,10 & 15 years rate of funding will apply.
Portability Security Substitution Fee: $300
Other fees and charges are payable.
Security Substitution Fee - A security substitution fee of $300 applies where no additional funds are sought. Where additional funds are also sought the standard establishment fee for that product applies
If your customer substitutes new security for the loan, they must pay this fee plus any other applicable Bank fees and Government charge
Stamp Duty on the Mortgage
Calculated on the amount of the loan and payable to the State Government Stamp Duty authority
NB: If the customer is buying a property, Stamp Duty on the transfer purchase price will also be payable to the State Government.
Refer the customer to their solicitors as to other costs they might incur.
Valuations - For high value properties, the Bank requires a full valuation to be undertaken by an independent Valuer. This necessitates referral to the Bank’s Chief Valuer to nominate appropriate valuers and negotiate fees. The valuation requires a detailed inspection and comprehensive written report.
Sydney & Melbourne metro >$2m
Other >$1m
Security Guarantee Fee -$200 (per borrower) applies where a guarantor's) provides security to support the loan. The fee is debited to the loan account (Refer Special Notes Family Equity and Guarantors ’Support Policy)
Deferred Establishment Fee $700 applicable if loan is repaid out within 4 years from the first loan drawing