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Line Of Credit - Lifestyle Home Loans
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| Variable Rate: | 7.27% |
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| Comparison Rate: | 7.32% |
| Type of Loan: | Variable rate, interest only line of credit loan with cheque book, credit card and direct credit facilities. |
| Term of Loan: | Maximum Term of 30 Years |
| Loan Size: | 95% LVR $30,000 to $500,000 (with another product) 90% LVR $30,000 to $500,000 (stand alone) 85% LVR $30,000 to $750,000 |
| Direct Salary Crediting: | Have your regular income paid directly into your home loan account, and use your Redraw Facility by, cheque book, phone or internet banking to access your money when needed. |
| Interest Rate Options: | Variable Interest Only 1-10 years then converts to Principal & Interest Loan. |
| Repayment Frequency: | Weekly, fortnightly or monthly, day and date of repayment can be nominated. |
| Additional Repayments: | Can be made by direct debit, by direct salary crediting or funds can be transferred into loan account by Bpay using internet or telephone banking. |
| Redraw: | $50.00 minimum redraw amount, funds are transferred to nominated bank account by direct credit within (1) business day. Can be arranged using, cheque book, telephone or internet banking. |
| Split Loan Facility: | You can have up to 4 separate accounts on the one loan facility. |
| Monthly Fees: | No monthly administration fees. |
| Application Fee: | Nil. |
| Valuation & Legal Fees: | Valuation Fee. $220.00 Legal Fees. $475.00 |
| Transaction Fees: | Unlimited number of free transactions per month. |
| Unused Facility Fee: | Not Applicable |
| Early Repayment Fee: | A deferred administration fee of 0.8% of the initial principal will be charged if the loan is paid in full within the first 4 years |
| Lenders Mortgage Insurance: | Premium is only payable by the borrower when LVR is greater than 80% or loan is greater than $500,000 |
The Comparison Rate is based on a loan of $200,000.00 for 30 years, fees and charges may be payable, a Comparison Rate schedule is available in the premisies.
Warning: The Comparison Rate applies only to the example given different amounts and terms will result in different Comparison Rates. Costs such as redraw fees or early repayment fees, and costs savings such as fee waivers, are not included in the Comparison Rate but may influence the cost of the loan.
