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Bridging Home Loans - Police and Nurse Credit Society - Bridging Loan

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Police and Nurse Credit Society
Comparison Rate 7.55%
Amount $200,000
Term 30 years
Monthly Payment Est. $1,391.59
Total Amount Paid Est. $503,738
Establishment Fee $818.00

7.45%

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Loan Features for Police and Nurse Credit Society - Bridging Loan
Fully secured, short term property funding loan for members who wish to sell existing property and who have found a new property. Allows them to go ahead and negotiate the purchase before selling existing property.

This loan is suitable for
Full Time, Permanent Part Time, Family Allowance A & B, Age Pension.
Please refer to the Income and Debt to Servicing Ratios provided by Police and Nurses in the Lender Manuals.

Home Loan Loan Term
6 or 12 months (Can be extended).

Home Loan Loan Size
Minimum Loan amount $20K.
Maximum Loan amount Subject to credit policy.

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Home Loan Repayment Type
VARIABLE.

Repayment Options
Not required.
Can make voluntary repayments Weekly, Fortnightly or monthly.

Extra Repayments
Additional repayments allowed.

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Split Loan Facility
Not available during the Bridging period.

Offset
No offset option available.

Redraw Facility
Not available.


LVR for Bridging Home Loans - Police and Nurse Credit Society - Bridging Loan

Owner Occupier Maximum LVR 85%.
Investment Maximum LVR 0.
Construction Maximum LVR 85%.

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Fees for Bridging Home Loans - Police and Nurse Credit Society - Bridging Loan

Fees are added to loan amount
Establishment fee $650 (metro <$1m)
Establishment fee $880 (metro >$1m on non metro property)
Monthly fee $5
Settlement Fee $168 ($110 registration of mortgage (varies per state), title search $32 and title search admin fee $26)
Establishment Fee plus Settlement Fee is shown as Establishment Fee
Documentation Fee $500 (not including WA) - shown as Preparation Fee

Valuation Fee is covered in the Establishment/Application Fee. Any additional valuation fees are charged as below:
Metro:
Property value $0 - $1M - $210
Property value $1M+ - $440
Property value $1.5M+ - at cost
Non Metro:
Property value $0 - $1M - $440
Property value $1M+ - at cost
Opening any Savings Account or Lending Product required to purchase a $10 share per member/person.

 
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The comparison rate applies only to $200,000 with a loan term of 30 years. The loan amount and term will affect the comparison rate calculation. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparsion rate calculation but may influence the cost of the loan.

This rate is to be used as a guide only and we recommend that you confirm it with the lender before acting upon it.

The information provided in this website is a guide only and may not be complete for your purposes. Ratesonline.com.au is not licensed to provide investment advice and recommends that you consult an independent financial adviser.
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