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homestar™ Equitymax Line of Credit |
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A loan with all the features you need to help you pay off your mortgage faster including salary crediting, free transactions, access to a nil-interest Visa card for your everyday banking and convenient all-in-one banking to simplify managing your finances. The All-in-One could be the perfect loan if you require: • Pay off your mortgage quickly by using your cashflow effectively
• Access to all-in-one convenient banking
• Access to account via credit card
• Over the counter transactions with cheque book Features include: | GENERAL | Owner-occupied or investment purchases, refinancing existing residential or investment or business | | Loan size | From 30,000 to $2,500,000 per security property (conditions apply). If Line of Credit is stand alone amounts reduced. | | Term | 30 years. | | Repayments | Principal and Interest or interest only for 2,3,5,10 years and Line of Credit 15 years. | | Frequency | Weekly,fortnightly or monthly | Split loan facility
| Up to 4 separate splits per facility. Transfer funds between splits using inter-account payment facility. | Withdrawals
| Available when required at no cost. (minimum re-draw $50 when using Loan Services line or Loan Services Net for all variable rate loans). | Pay anyone
| Payment can be made to any bank, building society or credit union directly from your loan using a valid BSB and account number (excludes credit cards). Maximum of $5,000 per day. Not available during fixed rate period.
| Card access
| A card providing direct access to funds in the loan is available for each line of credit account. | | Cheque access | Cheque book access to funds available in the loan is available for each Line of Credit account. | | Max loan to value ratio (LVR) | 90% LVR for all loans (conditions apply); If Line of Credit is a stand alone facility: 90% LVR for all loans up to $500,000 (conditions apply); 85% LVR for all loans $750,000 (conditions apply). | | FEES | Please refer to fees that don't tease. | | OTHER CONDITIONS | Vacant land is not acceptable as security for stand alone Lines of Credit. At the end of the revolving credit period, any unused credit limit is cancelled and principle and interest payments are then made on the outstading balance. All repayents are to be made by electronic direct debit.
LendersMortgage Insurance is required for all loans.The premium is payable by the borrower if the amount borrowed is greater than 80% of the value of the property (conditions apply). Annual card fee of $35 is waived for the first year, also waived for subsequent years if crdit card purchases exceed $8,000 p.a. Cheque book available: $20 for book of 30 cheques. Registered first mortgage over residential property as security on all loans.
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