Premium Power Pack 80% Premium Power Pack 80% (Principal & Interest) (Owner Occupied)

4.09%

p.a Standard Variable
4.27%

p.a Comparison**
$1,370

Upfront fees
$345

Annual fees
80%

Max LVR
$1,894

Per Month*

Loan Amount

$

Loan term

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.

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Standard Variable

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

Monthly repayment*: $1,894
rate per annum: 4.09%

Loan to Value Ratio

Borrow up to the maxium of 80% 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: 80%
Capitalise LMI: No

Availability

For Line of Credit and Owner Occupied in NSW, NT, QLD, SA, WA, VIC, TAS, and ACT.

Term: 15 - 30 years
Min: $0
Max: $1,500,000

Eligibility

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

Financials: Full Doc
Credit History: Conforming
Genuine Saving: Not Required

Offset Account

Save on interest repayments by holding spare cash in an offset account.

Offset account: Yes
Offset: 100%

Redraw Facility

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

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

Repayments

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

Interest Only Option: No
Max Interest Only: 0 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: $1,370
Establishment: $795
Valuation: $575

Ongoing Fees

Monthly and annual fees and charges during the loan period.

Total: $345
Ongoing Yearly: $345

Exit Fees

Fees associated with prematurely ending the loan.

Total: $608
Exit: $608
Early Repayment: $0
Switch To Fixed: $0

Notes

Suitable for PAYG or self-employed borrowers. 2 Years tax returns are required for self-employed borrowers. Borrowers must have a good credit history and can be companies or trusts. For any worthwhile purpose. Repayments can be made by direct debit request, direct electronic credit or inter-account payment (IAP) and BPay. Maximum exposure is $2M per client. Principal reductions allowed with no limit, however manual re-amortisation requests are required unless dynamic repayments are selected. Cash out available on loans up to 90% LVR. Loans up to 85% with no LMI max cash out allowed is 40% of the security value.

LVR Notes

No LMI payable up to 85% LVR*. To qualify; max loan amount $1.1M up to 85%LVR, Category A location only. Loans between 80-85% LVR without LMI will be subject to a 1.00% Risk Fee. Risk fee cannot be capped above 85%LVR. LMI can be capped to maximum 95% LVR. Unit/apartment located in Brisbane Inner City (as deemed by funder, ask your BDM for more info) With LMI <80% LVR, Funder pays LMI premium costs. >80% LVR borrower to pay LMI Without LMI <70% Max LVR LVR and Loan Amount: With LMI: Cat A - 80% ($1.25M), 90% ($1.1M), 95% ($850K) Cat B - 80% ($750K), 90% ($600K), 95% ($500K) Cat C - 80% ($500K), 90% ($450K), 95% ($350K) Metro+ Locations - 80% ($1.5M), 90% ($1.1M), 95% ($1M) Without LMI: Cat A - 70% ($1.5M), 75% ($1.5M), 80% ($1.5M), 85% ($1.1M) Cat B - 70% ($1.25M), 75% ($1M), 80% ($750K) Cat C - 70% ($500K)

Fee Notes

Establishment fee includes standard vals to $525 Lenders legals borrower paid Valuation fee is for each additional valuation, standard vals only. Exit fee includes $300 Administration fee and $308 Legal (prep) fee. Establishment and Valuation fees are based on loans >$1M - $2M. For loans under $1M: Est fee - $545 including standard vals to $290 Val fee - $340 each, standard vals only Title Insurance $132 for loans to $600K $238 for loans $60