| Home Loan Lender |
 |
Westpac Home Loan |
|
| Home Loan Product Name |
Variable Invest $250<$500K 0.70% Disc |
| Interest Rate |
7.01% |
Comparison Rate
Estimated |
7.33% |
| Amount |
$150,000 |
| Term |
30 years |
Monthly Payment
Estimated |
$998.96 |
Total Paid
Estimated |
$371,490 |
| Establishment Fee |
$0.00 |
| Enquire/Apply |
 
|
| Target Market |
A loan used to buy, construct or refinance residential real estate for investment purposes.
,
Customers can easily redraw from the buffer created through extra payments they've already made. (available to Non Residents)
,
Can be combined with Fixed Investment Property Loan and/or an Equity Loan to form a Combination Investment Property Loan.
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First mortgage over residential property is required as security.
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Loan can be switched to a fixed rate loan at any time (switching fee applies). |
| Acceptable Income |
Self Employed,2 years financials to be supplied, salary and wage earners |
| Loan Term |
Maximum overall loan term is 30 years. |
| Loan Size |
Minimum: $10K
,
No maximum. |
| Repayment Type |
Principal & Interest & Interest Only up to 10 yrs. |
| Repayment Options |
Weekly, Fortnightly or Monthly.
,
Direct Debit Preferred - Direct Debit required for interest only loans. |
| Extra Repayments |
|
| Split Loan Facility |
Available within combination structure |
| Offset |
Not available. |
| Redraw Facility |
Available if excess funds exists.
,
Redraw Access Fee: $10 for each redraw on buffer funds. |
| LVR |
Owner Occupier Maximum LVR: N/A
,
Investment Maximum LVR 100% Loan Product Option availabe
,
Construction Maximum LVR 100% Loan Product Option availabe
,
Refinance Maxim LVR 97%
,
Vacant Land Maximum LVR 97%
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Debt Consolidation Maximum LVR 97%
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Loan to Security Ratio (LSR) between 80 and 85% refer to Flyer in Lender Documents LMI Folder.
Premier Advantage Package benefits available:
,
$150K<$250K 0.40% p.a. discount
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>$250K 0.70% p.a. discount
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Nil Establishment fee
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Premier Advantage Package fee is $395. |
| Fees |
Establishment Fee: $750 ($1,000 for non-residents).
,
Loan Maintenance Fee: $8 per month.
,
Redraw Access Fee: $10 for each redraw on excess funds.
,
Progressive Draw Down Fee: $300(payable once only)
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Switching Fee: $300
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Guarantor Fee $200 (applicable if a guarantor required for the loan)
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Additional Valuation Fees:
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Independent valuers - for quote contact lender.
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Deferred Establishment Fee $900 will only be charged if a customer closes their loan with Westpac within 4 years of origination for reasons such as re-financing to another institution, selling their property or early. |
| Enquire/Apply |
|