Variable Rate Home Loans - Heritage - Investment Standard Variable

This loan is suitable for
Self Employed, Salary & Wage earners
Rental income 75% of gross rental allowable as income (60% high rise 0% for inner city apartments)

Home Loan Loan Term
Maximum: 30 years.

Home Loan Loan Size
Minimum: $20K
Maximum unlimited (Refer BDM for loans over $750k).

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Home Loan Repayment Type
Principal & Interest or Interest Only (Maximum: 5 years).

Repayment Options
Weekly (Monthly /4), Fortnightly (Monthly /2) or Monthly payments.
Ability to skip repayments if additional repayments have been made.
Change of term available.
Ability to vary repayments.

Extra Repayments
Unlimited

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Split Loan Facility
Yes.

Offset
Yes - 100% daily offset (minimum balance of $500)

Redraw Facility
Yes
Fee <$20,000 = $20K.
Fee > $20,000 = $20K+ current title search fee.

LVR for Variable Rate Home Loans - Heritage - Investment Standard Variable

Construction 90% including LMI
Vacant Land: 90% including LMI
Refinance: 90% including LMI
Investment 90% including LMI
Consolidation: 85% plus LMI maximum of 4 debts

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Fees for Variable Rate Home Loans - Heritage - Investment Standard Variable

Establishment Fee: $600 which includes First security valuation if required to a maximum amount of $330).
Additional valuations are $205min. (maybe higher depending upon Property Valuation Figure)
Construction progress inspection fee $110 per inspection plus mileage if applicable
Monthly Administration Fee $5 per month (included in repayments)
Deferred Establishment Fee ($0 to $600) if repaid within three years of initial funding.., on a pro-rata basis
Early Repayment Penalty if repaid within first year of initial funding:
Investment: 1 months Interest.
Further Advance Fee $600
Switch Fee $100-$600 depending upon product being switch to.. Investment Interest Only Loans - can not be switched or refixed, application is to be rewritten/renegotiated.
Build Loan Progress Draw Fee - $50 fee payable at each drawdown will be charged at the time of each draw
Trust / Company Loan $250 additional to the application fee to partially offset solicitors charges where documents are outsourced
Multiple Securities Additional fee of $100 charged when there is a second or subsequent security for a loan and the security is in the same state
Additional fee of $150 charged where there is a second or subsequent security for a loan and the security is from a different state
Settlement Fees on Purchase/Refinance:
Agent’s Settlement Fee $0 - $250 Max. (Varies from State to State)
Telegraphic Transfer Fee $0 - $35 Max.
Settlement Fee on Payout of Existing Loan: $200.