Fixed Rate Home Loans - moneyQuest - Portfolio 1yr Fixed

This loan is suitable for
Self employed, Salary & Wage earners.
Serviceability Ratio LVR <=80% and loan does not require LMI - 1.00 times.
LVR <=90% and LMI is required - 1.10 times
LVR is >90% and LMI is required - 1.10 times
On Income Calculations Worksheet use 2% of limit, highest balance in the last 3 mths, or nil limit if card cleared each month for the last 3 mths
For Investment Loans calculate 12 months worth of interest at the qualifying rate and take this amount off taxable income before assessing for tax.

Home Loan Loan Term
Evergreen (No Term).

Home Loan Loan Size
Minimum Limit $10K
Second and Subsequent Sub Accounts $2K minimum limit.

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Home Loan Repayment Type
Minimum payment of Interest plus fees and charges accrued during the month. Capitalisation is allowed within the limit on sub accounts where a fixed or variable interest rate has been selected not available for primary sub-account.

Repayment Options
Interest Only plus monthly admin fee.
Capitalisation of monthly repayments on all sub-accounts (both unregulated and regulated) except the Primary sub-account. Selected customers can request a repayment profile to better suit their individual needs.

Extra Repayments
Principal Reductions allowed at any time on variable rate sub accounts.
Portfolio Loans with a negotiated variable or fixed interest rate will be charged the $1K Portfolio Loan Discharged Fee if the loan is discharged within 3 years of the settlement date.

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Split Loan Facility
Yes. Trading Name can now be added to any subaccount, including the primary sub-account, of a Portfolio or Low Doc Portfolio loan.

Offset
Borrowers can draw back up to approved limit on variable rate sub-accounts.

Redraw Facility
Borrowers can draw back up to approved limit.
Maximum Redraw: via Internet Banking is $30,000 per day, phone and internet transfers can only be made into BankSA accounts.

LVR for Fixed Rate Home Loans - moneyQuest - Portfolio 1yr Fixed

Owner Occupied Maximum LVR 90%
Investment Maximum LVR 90%
Construction Maximum LVR 90% - Construction N/A for Fixed
Refinancing Maximum LVR 85%
Up to < 80% for Vacant Land as a single security
LVR > 80% LMI
LVR 85% for Refinance with or without consolidation of Debt
LVR 90% for Purchase, Construction.
FASTRefi® is a process that allows settlement for refinancing of residential loans to be completed within days of the customer signing the loan documents. For more information on this service contact your broker support centre Mortgage Central on 1300 137 532.

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Fees for Fixed Rate Home Loans - moneyQuest - Portfolio 1yr Fixed

Application Fee:$700 (Split Facilities $154 ea)
Settlement/Lodgement Fee:$ 100 per sub account (Fee displayed as Mortgage Preparation )
Additional Securities:$100 Legal Fee, Plus Govt. Costs.
Additional Valuations:$0 Valuers travelling allowance payable by customer.
Redistribution of Limits:$ 10 per redistribution
Applicants have an option to choose to pay one annual fee for up for up to 10 sub accounts or pay a monthly fee
Administration Fee:$14 per month or capped Annual Fee $200
Unlimited free Phone and Internet Banking transactions.
No Annual Review Fee or Unused Limit/Line Fee
Increase Fee $500
Switch Fee to Portfolio $500
Rate Lock Fee 0.15% of the loan amount or $500 whichever is higher)
Consent to Subdivision $350
Substitution of Security $350
Renegotiation $500
Discharge of Mortgage Fee $250
Discharge Settlement Processing Fee $100
Progress Payment Administration Fee $250
Progress Payment Final Inspection Fee $102.50
Arrears Letter Fee $50
Early Termination Fee:$1,000 if loan discharged in the first 3 years, Negotiable Rate on sub accounts.