Basic Variable Rate Loan Basic Variable Rate Loan - EXISTING CUSTOMERS - LVR >90% to 95% (Priniciple & Interest) (Owner Occupied)
4.05%p.a Basic Variable
Repayments calculated to take into account ongoing monthly and anual fees.
- Monthly repayment*
- rate per annum
Loan to Value Ratio
Borrow up to the maxium of 95% of the value of the property.
Lenders Mortgage Insurance, or LMI, will be payable on most loans where the borrowings are greater than 80% of the value of the property.
However, you may be able to capitalise LMI into your loan, increasing the overall loan amount by about 2% (in order to cover the cost of the insurance). Contact a loan market broker to find out how LVR and LMI might impact the cost of your loan repayments.
- Capitalise LMI
For Equity and Owner Occupied in NSW, NT, QLD, SA, WA, VIC, TAS, and ACT.
- 10 - 30 years
The level of financial documentaion and credit history required to apply for the loan.
- Full Doc
- Credit History
- Genuine Saving
Save on interest repayments by holding spare cash in an offset account.
- Offset account
Get quick access to cash by drawing on the loan to pay for renovations or other purchases.
- Redraw Facility
- Min Redraw
- Redraw fee
Given the wide range of loans on offer – with different interest rates, product features and fees – it pays to shop around to find the loan that fits your needs and circumstances. Some loans offer features that may be appropriate for your situation and result in savings over the life of the loan.
Some features you may wish to consider include:
- an offset account;
- ability to make extra repayments;
- a redraw facility; and
- linked credit card and savings accounts;
- ability to split your loan between fixed and variable interest rates
- Offset Account
- Redraw Available
- Credit Card
- Internet Banking
- Telephone Banking
- BPay Option
- Portability of Loan
- Professional Pack
- Check Account
- Direct Salary Credit
- Free Transactions
- Minimum Redraw
- Redraw Fee
You can make your repayments Fortnightly, Monthly, and Weekly.
- Interest Only Option
- Max Interest Only
- 0 years
Upfront fess associated with estabilishing the loan. Other loan set-up fees, such as valuation fees and lender's mortgage insurance, and Government charges, such as registration fees and stamp duty on property transfer, have not been included. These will be determined after application.
Monthly and annual fees and charges during the loan period.
Fees associated with prematurely ending the loan.
- Early Repayment
- Switch To Fixed
Establishment Fee of $350 waived for new Basic Package loans less than or equal to 90% LVR until further notice. The split loan fee of $75 is waived for limited time only. The Basic Package is a low cost home loan package without all the extra features. It offers customers the option of combining fixed and variable rate loans at a competitive rate of interest. Can be combined with other products within the same package. Choose from Classic Club, Basic, Professional or Select Packages. Target Market This package will appeal to customers who want a simple, low cost loan. It can combine fixed rate loans with variable rate loans - and can include a 100% mortgage offset1 against the variable split. Products Available - Basic Variable Rate Loan - Basic 1,2,3 & 5 Year Fixed Rate Loan Key Features - Competitive interest rates. - Choice of variable and fixed rates (1,2,3 and 5 years). - Up to $10,000 in additional repayments per 12 month period can be made on the fixed rate loans without penalty. - Available for personal purposes in personal, company or trust name Fee-free unlimited access (on variable rate loans and lines of credit) to: - Internet banking, Mobile banking, and BankPhone (each excludes BPAY)
LMI required >80% LVR. 95% plus capitalised LMI - max LVR is not inclusive of LMI. Maximum LVR inclusive of LMI capitalisation is subject to AMP and Genworth's discretion.
For property purchases >85% LVR, borrowers must contribute a minimum of 5% of the purchase price saved / held over a minimum 3 month period fo the last 3 months. Acceptable forms of savings include: -Funds in bank accounts/term -Deposits -Shares -Equity in residential property -Sale proceeds from residential property -Deposit paid for the property more than 3 months ago For more information please contact your Business Development Manager.
Valuation fee may apply if valuation costs exceed those specified in Fees and Charges Guide. Multiple Security Fee for each additional security $250. Quoted exit fee includes Solicitors and Mortgage Processing Servicers Discharge Costs. Guarantor Admin Fee of $200, LMI Processing Fees of $100 apply. Switch Fee: $350 - Establishment fee $350 waived for all applications with an LVR of 90% or below - Settlement fee of $250 - No Monthly Account Management fees - Loan Split fees $75 per addition