Flexi Specialist Full Doc Flexi Specialist Full Doc LVR >80% to 85%

  • 6.70%
    p.a Standard Variable
  • 6.80%
    p.a Comparison**
  • $1,534
    Upfront fees
  • $180
    Annual fees
  • 85%
    Max Lvr
  • $2,422
    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*
$2,422
rate per annum
6.70%

Loan to Value Ratio

Borrow up to the maxium of 85% 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
85%
Capitalise LMI
No

Availability

For ["Equity", "Owner Occupied"], in ["NSW", "NT", "QLD", "SA", "WA", "VIC", "TAS", "ACT"].

Term
10 - 40 years
Min
$100,000
Max
$750,000

Eligibility

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

Financials
Full Doc
Credit History
Non Conforming
Genuine Saving
Not 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
Yes
Portability of Loan
No
Professional Pack
No
Check Account
No
Direct Salary Credit
No
Free Transactions
No
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
$1,534
Establishment
$695
Legal/Solicitor
$440
Settlement
$399

Ongoing Fees

Monthly and annual fees and charges during the loan period.

Total
$180
Ongoing Monthly
$15

Exit Fees

Fees associated with prematurely ending the loan.

Total
$250
Exit
$250
Early Repayment
$0
Switch To Fixed
$0

Notes

Suited to self employed borrowers For purchase, re-finance and investment Unlimited cash out up to 80% LVR (including for business purpose) Debt consolidation (including ATO debts) 1 year ABN and 1 year GST registration required if income >$75K Any number of defaults or judgements permitted, paid or unpaid, if registered 1 year or more at application. Up to 1 ‘Credit Event’ less than 1 year ago (Plus option). Part IX & X Acceptable; provided it’s paid in full, from loan proceeds, at settlement. Conduct must be perfect. Original listing must be > 1 years Up to 2 months arrears permitted with ‘Plus’ option up to 75% LVR. 100% Offset Sub-account available with optional visa card. No additional costs to new customers. 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

Risk and Title Fees can be capitalised up to 80% LVR $2,500,000 up to 65% LVR $2,000,000 up to 70% LVR $1,750,000 up to 75% LVR $1,250,000 up to 80% LVR $750,000 up to 90% LVR $650,000 up to 95% LVR

Fee Notes

Risk Fee Promotion - 0.25% reduction in Risk Fee extended to 16th November 2016 Establishment fee includes one standard valuation to $275. $400 per loan of Title Insurance. Risk Fee: LVR 55% 0.25% LVR 65% 0.25% LVR 70% 0.75% LVR 75% 1.00% LVR 80% 1.50% LVR 95% 1.75%

*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