Variable Rate Home Loans - Heritage - Premium Variable

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

Home Loan Loan Term
Up to 30 years

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

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Home Loan Repayment Type
Owner Occupied - Principal & Interest
Investment 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
Can vary payments
Can change due date (within reason and with Credit approval)
Can change term of loan

Extra Repayments
Unlimited

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Split Loan Facility
Yes

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

Redraw Facility
Free Unlimited redraw

LVR for Variable Rate Home Loans - Heritage - Premium Variable

Existing customers - Max LVR 95% inc LMI that have opened an account prior to 17.03/09 and qualify for the FHOG.
New customers - Max LVR 90% inc LMI
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 - Premium Variable

Establishment Fee Nil, The Society will cover the 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 Nil
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 3 years of the latter of initial funding or most recent free further advance.
Owner Occupied: $800.
Investment: 1 months Interest.
Further Advance Fee: One free per annum. Free further advances are not cumulative. A further advance is free if it has been at least one year since the most recent free further advance.
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 (Varies from State to State)
Finalisation Fee $200 (Payout of loan).
Telegraphic Transfer Fee $0 - $35 Max.