PRIME
| Program |
Lo Doc |
| Client Profile |
Self employed or Full time investors > 2 years only.
Unable to produce extensive financial statements at time of
application Applicants who are either self employed or full
time investors MUST have a current ABN which has been registered
for a minimum of 2 years. Where the applicant is declaring
a net profit of $75,000 or more the ABN must be registered
for GST purpose.
No supporting documentation required for self employed applicants
Stated income and Assets & Liabilities statement required
|
| Loan Amount |
$30,000 - $3,000,000 |
| Terms |
30 years |
| LVR |
Up to 80% |
| Multiple Accounts |
Can be split up to four accounts with separate statement issue
for each loan split |
| Repayment Type |
• Principle and Interest
• Up to 10 years Interest Only for LVR less than or equal 85%
• Up to 5 years Interest Only for LVR more than 85% |
| Repayment Options |
• Salary Crediting – Borrowers can have all or part of their
pay directly deposited to their loan account
• Direct Debit – Borrowers can have their repayment drawn from
a nominated account with the choice of weekly, fortnightly,
twice monthly or monthly repayment (Date & Day can be nominated) |
| Additional Payments |
• Internet Banking
• Telephone Banking
• Bpay Credit |
Access to Funds |
• Direct Card access available funds via ATM and EFTPOS
• Internet Banking and Telephone Banking |
| Fees |
• No account keeping fees
• No statement fees
• Unlimited free STANDARD transactions
• Six (6) FREE NON – STANDARD transaction per month |
BENEFITS SUMMARY
• Borrowers have the ability to make additional repayments at
any time, subject to any early repayment fee provisions.
• Borrowers have the ability to utilise the unlimited redraw of
available credit
• Direct card – borrowers can use their available credit to access
cash via ATM or purchase goods or services via EFTPOS.
• Optional direct debits – borrowers can use their available credit
to make payment of other expenses (e.g. health insurance, mobile
phone accounts, credit card etc).
• Borrowers can have their loan accounts split a maximum of four
ways with separate statements issued for each loan split.
• Borrowers have the ability to switch interest rate options, repayment
options or repayment frequency at any time, however some conditions
may apply.
• Salary can be directly credited to the borrowers loan account.
• Funds can be transferred to the borrowers loan account via Bpay
Credit.
• Income from any source can be directly credited to the borrower’s
loan account, including rental income, share dividends, tax return
etc.
• Loan statements are issued twice yearly.
• Unlimited free internet banking.
• Unlimited free telephone banking.
|
