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Loan Purpose |
Regulated, for owner occupied. |
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Applicants |
Individuals only |
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Maximum Amount |
$500,000 (conditional to location of security) |
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Minimum Amount |
$50,000 |
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LVR |
A maximum loan-to-valuation ratio of 100% is permitted. |
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Loan Term |
30 years (default). Also available 15, 20 and 25 year terms |
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Interest Rate Options |
Variable only |
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Interest Calculation |
Interest is calculated on the daily closing outstanding balance and debited monthly in arrears, on the monthly anniversary of settlement (or final progress payment if converted from a construction loan). |
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Statements |
Six monthly |
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Repayment Type |
Principal and interest on anniversary of the final draw down |
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Fees |
$6 monthly administration fee |
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Establishment Fee |
$350 which is payable to Möbius & deducted from settlement proceeds |
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Application Fee |
$550 plus GST, (includes valuation & solicitor fee) |
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Deferred Establishment Fee |
1.75% charged, if repaid within 5 years |
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Additional Repayments |
Additional repayments are permitted at any time on variable rate loans. |
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Redraw |
Minimum $2000 no fee to redraw, manual process at this stage |
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Lenders Mortgage Insurance (LMI) |
All loans will require the borrower to pay LMI premiums. The amount of the premium will be advised at the time of application (approx. 2.25% of loan amount plus GST & Stamp Duty). LMI premiums will be debited from the loan settlement proceeds disbursed to the solicitor and credited to |
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Credit Restrictions |
Loans will not be approved for:
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This fact sheet provides general information only – Full details of the loan are set our in the loan agreement – Conditions, fees & charges apply. |
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