Credit Gold Full Doc Credit Gold Full Doc - LVR 80%-90% $200K-$500K (Interest Only) (Owner Occupied)

  • 4.48%
    p.a Standard Variable
  • 4.61%
    p.a Comparison**
  • $545
    Upfront fees
  • $300
    Annual fees
  • 90%
    Max Lvr
  • $1,966
    Per Month*

About Better Mortgage Management

Better Mortgage Management was voted No.1 non bank lender for two years in a row by Mortgage Brokers, for 2013 and 2014. They pride themselves for thinking outside the box having over 40 different loan products and can assist where other lenders can't or won't assist including our unsurpassed range of loans for self-employed borrowers. BMM is one of Australia's fastest growing mortgage managers committed to providing the best possible home loan options suited to the individual. They base their operation on efficiency, technology and commitment to service with an extensive range of flexible and competitive financial products.

Standard Variable

Repayments calculated to take into account ongoing monthly and anual fees.

Monthly repayment*
$1,966
rate per annum
4.48%

Loan to Value Ratio

Borrow up to the maxium of 90% 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.

Lvr
90%
Capitalise LMI
Yes

Availability

For ["Line of Credit", "Construction", "Equity", "Owner Occupied", "Vacant Land"], in ["NSW", "NT", "QLD", "SA", "WA", "VIC", "TAS", "ACT"].

Term
10 - 30 years
Min
$200,000
Max
$499,999

Eligibility

The level of financial documentaion and credit history required to apply for the loan.

Financials
Full Doc
Credit History
Conforming
Genuine Saving
Required

Redraw Facility

Get quick access to cash by drawing on the loan to pay for renovations or other purchases.

Redraw Facility
Yes
Min Redraw
$50.0
Redraw fee
$0

Banking Features

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
No
Redraw Available
Yes
Credit Card
No
Internet Banking
Yes
Telephone Banking
Yes
BPay Option
No
Portability of Loan
Yes
Professional Pack
Yes
Check Account
No
Direct Salary Credit
Yes
Free Transactions
Yes
Minimum Redraw
Yes
Redraw Fee
No

Repayments

You can make your repaments Fortnightly, Monthly, and Weekly.

Interest Only Option
Yes
Max Interest Only
5 years

Upfront Fees

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.

Total
$545
Establishment
$545

Ongoing Fees

Monthly and annual fees and charges during the loan period.

Total
$300
Ongoing Yearly
$300

Exit Fees

Fees associated with prematurely ending the loan.

Total
$0
Exit
$0
Early Repayment
$0
Switch To Fixed
$0

Notes

Cash Out available – Loan purpose must be verified if LVR exceeds 80% or loan amount >$250,000 Pro-pack style loan with no qualifying restrictions. Suited to fully verified borrowers including companies or trusts. Available for purchase and refinance (up to 90% LVR). Full featured loan which includes a direct card. Available for vacant land and construction purposes (max 90% LVR). Minimum split/portion amount: $20,000. Maximum loan amount: $500,000 Maximum LVR: 80%. Interest rate loading: 0.15%. Additional features: As above + unlimited non –standard transactions*. Interest capitalisation for first 10 years of the loan (credit limit $500K or less and 75% LVR maximum). (*Non-standard transactions are Direct Salary Credits, Other Income Credits, Bpay Credits, direct card transactions, cheque book and optional direct debits). 0.10% Discount on 2 & 3 year fixed rate loans BMM’s serviceability calculator is for use only with products & purposes specified in the calculator. BMM’s product suites each have their own serviceability calculator, please contact BMM to obtain the most up-to-date calculator for the relevant product suite: info@bettermm.com.au

LVR Notes

Max LVR / Loan amounts: Metro - $1m, Regional $750K, Country - $500K. LMI required on loans >80% LVR. Borrower paid above 80%, LMI capitalisation is available above 90% LVR for new and refinanced loans (max. 93% LVR)

Notes

At least 5% genuine equity is required saved over a period of 3 months (>85%LVR)

Fee Notes

Establishment Fee includes one standard valuation to $275. Borrower pays legal fees. Additional Valuations: $275 each, standard valuations only. Properties over $300K or in remote areas may incur additional fees. $250 loan procesing fee (paybale at settlement). $300 construction processing fee (payable on new construction loans only) $105 Title insurance fee.Optional Fixed Rate cenrtainty Fee $395

*Monthly Repayments

Monthly repayments are calculated to take into account the loan amount, repayment term and ongoing fees and charges over the life of the loan.

  • Variable rate loans show the monthly repayments at the current rate.
  • Fixed rate loans show the monthly repayment during the fixed period only.
  • Monthly repayment calculations are an approximate guide only. Speak to a LoanMarket Mortgage broker to understand the exact cost of a loan given your particular circumstances.

**Comparison Rates

A comparison rate is a tool to help consumers identify the true cost of a loan. It factors in the interest rate, loan amount, repayment term and ongoing fees and charges and displays this as a single percentage rate that can be used to compare various loans from different lenders.

Monthly Repayment and Comparison Rate* calculations do not include:

  • The use of account features such as early repayments and offset accounts which vary widely among loans and can reduce the cost of a loan significantly.
  • Cost savings such as fee waivers or special rate discounts.
  • Fees and charges associated with loan options or events that may or may not be used by the borrower, such as early repayment or redraw fees
  • Lenders Mortgage Insurance (LMI) which may be required to secure the loan and can increase the cost of the loan.
  • Government charges such as stamp duty or mortgage registration fees.
  • Fees and charges which aren’t available at the time the comparison rate is provided