Variable Rate Loan Variable Rate Loan >$200K LVR >90% (Principal & Interest) (Owner Occupied)
4.31%p.a Standard Variable
About Loan Market Go
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 Construction, Owner Occupied, and Vacant Land in NSW, NT, QLD, SA, WA, VIC, TAS, and ACT.
- 25 - 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.
- Ongoing Yearly
Fees associated with prematurely ending the loan.
- Early Repayment
- Switch To Fixed
Maximum Interest Only period for personal use is 5 Years, for investment purposes 10 Years. Please Note: For investment purposes where the LVR is above 85% the maximum interest only period is 5 years. Documentation Requirements: - Borrower declaration - A&L statement - Borrower Account Statements or, - Completed and signed Accountants declaration with covering letter. Revolving Loan Facility - the capacity to draw down on funding up to an approved credit limit Free account access via internet and phone. Combination with Performance Plus facility available. Unlimited free transactions with Debit Card access through any rediATM or NAB ATM and free cheque book facility. Repayments through Direct Salary Credit or bank account Direct Debit. Facility can be split up to four times (minimum $20,000 per split). Where LVR <=60% Limited $100,000. Equity Release / Cash out is > $250,000. Where verification is required, documentary evidence must be provided and must verify at least 80% of the loan amount. Documentary evidence can include, but is not limited to, quotes, invoices, sale contracts, and written professional advice such as financial planner/adviser advice that supports the proposed use of the funds. IMPORTANT: The amount and purpose of the Cash Out must be appropriate and in line with the applicant's financial position. Where LVR >80% cash out will be subject to LMI insurer requirements. All applications are subject to satisfactory Loan Market Go and insurer (where applicable) credit assessment. Loan Market Go, at its sole discretion, reserves the right to reject or approve any request for Equity Release/Cash Out. In addition, Loan Market Go reserves the right to: (i) Limit the disbursement of cash-out proceeds. (ii)Control the disbursement of loan proceeds inclusive of cash-out proceeds. Where LVR >60% Cash out limit is subject to LMI Insurer restrictions. Lender may request supporting documentation as to use of funds. Where the facility is for an Interest Only loan for the purpose of Vacant Land, or is a Construction loan, the LVR must not exceed 90% (including LMI capitalisation, where applicable).
Base LVR of above 90% subject to loading of 0.15% and purpose must be purchase of established property for owner occupied only. LVR above 90% excludes investment purposes/refinance/debt consolidation/cash out/equity release/LOC/IO loans greater than 5 years. Max LVR 95% inclusive of LMI cap. Vacant Land and Construction - OO purpose with P&I up to 90% plus capitalised LMI (as is basis) INV purpose with any repayment type and OO with IO up to 90% inclusive of any capitalised LMI. Maximum loan amounts remain subject to LVR and Location Classification *For Genuine Savings Exception Option (GSXO), only available on lmiHOME and lmiINVEST applications which are Full Documentation Income Type, up to a Maximum Loan Amount of $800k and where the LVR for the loan is greater than 85.00%. Other eligibility criteria such as but not limited to Location Classifications also apply.
For loans above 85% LVR, genuine equity of at least 5% of purchase price must be evidenced for a minimum of three months and can comprise of: Bank savings; Term deposits; Shares; Existing equity in real estate. If LVR > 80% and First home buyer loans, at least 5% of purchase price must be provided from genuine savings.
Split Fee $100 Construction Administration Fee $13 Construction Drawdown Fee $300 Other Fees $475: - $105 Title Insurance Fee - $250 Loan Processing Fee - $120 Re-documentation Fee where changes are made to a loan that require legal documents to be redone - At Cost for Settlement Agent Fees to cover settlement costs and Government charges Provision of copy loan documentation fee $30 per request Telegraphic Transfer Fee $50 Production Fee $99 Consent Processing Fee $100 Loan Restr