Variable Rate Home Loans - Heritage - 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
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.

Repayment Options
Weekly (Monthly /4);Fortnightly (Monthly /2) or Monthly payments.

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,K = $20.00.
Fee > $20K = $20.00 + current title search fee.

LVR for Variable Rate Home Loans - Heritage - 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
Consolidation: 85% plus LMI maximum of 4 debts

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Fees for Variable Rate Home Loans - Heritage - 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:
Owner Occupied: $800.
Further Advance Fee $7.50 per $1000 to Max. $600 Min $400.
Switch Fee $100-$600 depending upon product being switch to.
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.