Line of Credit Home Loans - The Rock Building Society - 2 yr fixed Equity Line

This loan is suitable for
PAYG and Self Employed applicants, Company and Trust.

Home Loan Loan Term
Maximum: 30 years.
Fixed Rate Period: 1,2, 3 and 5 years avaialbe.
Maximum Interest Only 10 Years

Home Loan Loan Size
Minimum: $50K.
Maximum $1M per security
Maximum: $3.5M total borrowings

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Home Loan Repayment Type
Interest Only.
10 years interest only then converting to 20 years P&I.

Repayment Options
Weekly, Fortnightly or Monthly payments following conversion to P&I
Interest Only repayments until expiration of Interest Only Period.

Extra Repayments
Yes.

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Split Loan Facility
Yes.

Offset
Not applicable.

Redraw Facility
Not Required.

LVR for Line of Credit Home Loans - The Rock Building Society - 2 yr fixed Equity Line

Owner Occupied Maximum LVR 80%.
Residential Investment Maximum LVR 80%.
Construction Maximum LVR 80%.
Refinance Maximum LVR 80%.
Vacant Land Maximum LVR 80%.
Debt Consolidation Maximum LVR 80%.

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Fees for Line of Credit Home Loans - The Rock Building Society - 2 yr fixed Equity Line

Application Fee $600 (includes the valuation of one security property)
Additional Valuation Fee $275. (To the value of $1 million the Valuation Fee will be added to the Application Fee).
Progress Inspection Fee $125. This fee is charged for each of the first and final builders payments
Release Fee:$380.
Switch Fee:$250.
Monthly Account Keeping Fee $12 per month
Variation Fee:$275, plus $110 documentation fee.
Line of Credit Product - can be accessed by cheque book and "cash card". A fee applies to each debit transaction. Transfers to accounts at another financial Institution using Bank or bill payments using Bay (through Rock Direct) will be fee free.
All Deferred Establishment Fees:
Year 1 or Year 2 minimum $1,500 or 0.25% (whichever is greater).
Year 3 minimum $1,200 or 0.20% (whichever is greater).
Year 4 minimum $900 or 0.15% (whichever is greater).
(Calculated on the approved loan amount).
Plus deferred LMI if original LVR was less than or equal to 80% or $500K.