Low Doc Home Loans - St George Bank - Lo Doc Portfolio 5 yr fixed |
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to select a different loan amount and loan term. Currently: $150,000 over 30 years |
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| Home Loan Lender |
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St George Bank Home Loan |
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| Home Loan Product Name |
Lo Doc Portfolio 5 yr fixed |
| Interest Rate |
7.34% |
Comparison Rate
Estimated |
7.94% |
| Amount |
$150,000 |
| Term |
30 years |
Initial Monthly Payment
Estimated |
$1,032.44 |
Monthly Payment
Estimated |
$1,092.71 |
Total Paid
Estimated |
$396,690 |
| Establishment Fee |
$750.00 |
| Enquire/Apply |
 
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| Target Market |
Borrowers, who are self-employed, experience uneven cash flows or have their personal and business income and expense records combined who may find it difficult to meet a bank’s standard application requirements. Self employed borrowers who have been operating their business for two or more years. |
| Acceptable Income |
Self employed min 2 years.
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Fully verified PAYG borrowers only acceptable when applying in conjunction with Self Employed applicants.
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Low Doc Affordability Statement is to be signed by the customer and returned to the Bank with the Application Form. |
| Loan Term |
Evergreen ( No Term) |
| Loan Size |
Minimum: $10K ($2,000 for each sub-account)
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Maximum loan amount increased to $1 million when LVR exceeds 60%
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Maximum loan amount increased to $1.5 million when LMI not required. |
| Repayment Type |
Interest Only Variable and 1, 3 & 5 Years Fixed Rates. |
| Repayment Options |
Borrowers are required to make minimum monthly repayments on all Low Doc subaccounts.
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The minimum repayment is the total of interest, fees and charges and is shown on the monthly sub-account statement.
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The minimum repayment must be paid by the due date (which is the last
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banking day of the month after the month covered by the statement).
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A minimum repayment for a Low Doc sub-account cannot be paid from that Low Doc subaccount or by drawing a cheque on that Low Doc
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sub-account. A transfer between Low Doc sub-accounts may be used
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to make a repayment, and these may be processed via a request for
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periodical payment or automatic funds transfer. |
| Extra Repayments |
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| Split Loan Facility |
Not applicable for this product. Sub Accounts may be added as required up to 10 sub accounts. |
| Offset |
Principal Reduction will reduce debt therefore reduces interest charged on debit loan amount |
| Redraw Facility |
Borrowers can draw back up to approved limit on variable rate sub-accounts only. |
| LVR |
Self Employed
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Owner Occupier Maximum LVR 80%
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Investment Maximum LVR 80%
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Refinance Maximum LVR 80%
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Debt Consolidation Maximum LVR 80%
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Construction N/A
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PAYG Maximum LVR 70%
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Land Maximum LVR 60 %
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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. |
| Fees |
Establishment Fee $750 (plus $100 for each additional sub-account after the primary subaccount)
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Applicants have an option to choose to pay one annual fee for up for up to 10 sub accounts or pay a monthly fee
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Annual Fee $250 or
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Administration Fee:$17 per month
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Settlement/Lodgement Fee:$ 100 per sub account (Fee displayed as Mortgage Preparation )
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Additional Valuations:$0 Valuers travelling allowance payable by customer.
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Additional security fee $100
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No Annual Review Fee or Unused Limit/Line Fee
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Increase Fee $500
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Switch Fee $500
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Rate Lock Fee 0.15% of the loan amount or $500 whichever is higher)
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Consent to Subdivision $350
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Substitution of Security $350
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Renegotiation $500
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Discharge of Mortgage Fee $350
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Discharge Settlement Processing Fee $100
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Arrears Letter Fee $50
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Early Termination Fee:$1,000 if loan discharged in the first 3 years, Negotiable Rate on sub accounts. |
| Enquire/Apply |
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| Other Low Doc Home Loans |
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| Other St George Bank Home Loan Products |
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This Comparison Rate applies only to $150,000 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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