Advantage Plus Home Loan
 Austral’s Advantage Plus Home Loan is a fully featured basic variable term loan suitable for
home buyers, home owners and investors.
Set at a competitive, low ongoing variable
interest rate and no monthly fees, it gives
you an option of interest only repayments for
up to 10 years, or a principal & interest
repayment plan over the life of the loan.
Acceptable Loan Purpose.
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Purchase or refinance of an owner occupied or investment property |
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Debt Consolidation |
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Go Between Loans |
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Equity loans for investment or personal purposes |
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Loans for business purpose up to 20% of the loan amount (excluding working capital and the payment of personal or business tax liabilities) |
Can I Split My Advantage Plus Loan?
Yes you can. Minimum amount per split account is $10,000. A
combination of splits with variable and fixed interest rates is available
on request
Interest Only Option.
Ideal for investors, this option allows you to have up to 10 years
interest-only repayments before principal and interest repayments are
required.
Interest Only customers have the option of nominating an interest
charge day other than the anniversary day of loan settlement.
Interest & Repayments.
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Interest is calculated daily on closing balance and charged to the account monthly in arrears.
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Monthly repayments (irrespective of any additional repayments) must be made prior to or on the anniversary date of the settlement and must be made by direct debit from the borrower’s bank account.
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More frequent repayments are permitted (weekly or fortnightly) on P & I Accounts.
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Fixed Rate Accounts - Maximum of $20,000 p.a. in excess of normal repayments is permitted without break cost penalty.
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Any loans settled on the 29th, 30th or 31st of the month will have repayments due on the 28th of every month.
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Product Features at a Glance
Minimum Loan Amount
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$50,000 |
Maximum Loan Amount
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$5,000,000 |
| Maximum LVR |
90% (plus Mortgage Insurance Premium) on Principal & Interest accounts
80% on Interest Only accounts
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| Loan Terms up to |
30 years
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| Interest Only up to |
10 years
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Split Loans Available
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No ongoing Fees & Charges
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REDRAW facility
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Online & Telephone Account Management System
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Direct Debit
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Unrestricted Additional Repayments
(Restrictions apply to fixed rate accts)
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Weekly, Fortnightly or Monthly repayments
(Monthly ONLY for Interest Only accounts)
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2nd Mortgage over supporting property may be considered
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Loan is portable to another security property
(Subject to standard lending guidelines)
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Bi-annual statements
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to 30th June and 31st December |
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