Clear Full Doc 80% Clear Full Doc <80%

  • 6.49%
    p.a Standard Variable
  • 6.50%
    p.a Comparison**
  • $495
    Upfront fees
  • $0
    Annual fees
  • 80%
    Max Lvr
  • $2,361
    Per Month*

About MKM Capital

MKM Capital is a leading provider of residentially secured 1st Mortgage solutions in Australia. As a Principal Lender backed by an institutional funding line (i.e. the credit decision is made in-house) and together with a Standard & Poors rated back office, MKM Capital's team of professionals is able to tailor a loan solution to your needs. Accredited Introducers to MKM can be assured that their clients will be receiving prompt, efficient service in an accurate and timely manner. Founded in 2004, MKM has evolved into an established provider of the full range of non-conforming offerings. MKM’s products are designed for circumstances that require an alternative and flexible approach. MKM undertakes the full operational process for its loans. MKM’s key credit criteria when assessing an application focus on the security being offered, the borrower’s credit profile and how MKM’s products are likely to result in the borrower being in an improved financial position due to MKM’s extension of credit. MKM is a full member of the MFAA and Credit Ombudsman and holds the necessary NCCP licenses to extend credit nationally.

Standard Variable

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

Monthly repayment*
$2,361
rate per annum
6.49%

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

Term
0 - 30 years
Min
$50,000
Max
$750,000

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

Redraw Facility

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

Redraw Facility
No
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
No
Redraw Available
No
Credit Card
No
Internet Banking
No
Telephone Banking
No
BPay Option
No
Portability of Loan
No
Professional Pack
No
Check Account
No
Direct Salary Credit
No
Free Transactions
No
Minimum Redraw
No
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
$495
Valuation
$495

Ongoing Fees

Monthly and annual fees and charges during the loan period.

Total
$0

Exit Fees

Fees associated with prematurely ending the loan.

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

Notes

Applicant Type: Individuals, Companies, Trusts Verification: - Last month's bank statement; last 2 payslips - Mortgage loan statements last 6 months for mortgages being refinanced, last month to all othersheld. - Other debt - last month (if not shown in bank statements) Loan amount >$1.5M considered case by case. Credit History: - Veda registered defaults/court actions/writs: <$1,000 - Arrears (last 6 months): zero arrears, 1 late repayment and <30 days allowed - Bankruptcy: discharged >2 years - ABN&GST: registered >6months

LVR Notes

Security: Standard residential property & vacant land. Owner occupied & Investment. No development sites Location category: 1,2 & 3 Zoning: Residential or Rural residential

Fee Notes

Facility Risk Fee: 60% LVR – 1.5% 70% LVR – 1.75% 80% LVR – 1.95% Title Insurance - $395 per title Valuation Fee - minimum $495

*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