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Advantage Plus Line of Credit

Interest Only Line of Credit that enables you to maximise the equity in your home and use it for investment property, shares or other personal use.

Interest only payments may be required for the first 10 years of the loan term on this fully transactional line of credit.

What is required for the final payments

Building is generally Advantage Plus Line of Credit may be taken out in combination with:

	A fixed Rate Loan or
	A 100% Offset Term Loan

Minimum $10,000 per split account with maximum 4 accounts per transaction.

Repayment Options

Interest only payments are due monthly for the first 10 years, calculated on the monthly statement.

Principal & Interest repayments are due monthly for the remaining 15 years.

Unregulated loans are not required to make the monthly payment if the loan’s available limit is greater than the interest debited on the monthly statement.

Quick and Easy Access to your Funds

Quick and easy access to your available funds through Online & Phone Account Management Systems, any ATM or EFTPOS, Bank@post, VISA card and optional Cheque book.

Salary and other direct credits can be paid directly into the loan. Loan term and interest paid can be reduced because interest is calculated daily on the balance.

Acceptable Loan Purpose

	Purchase or refinance an owner-occupied or investment property
	Debt Consolidation
	Equity loans for investment or personal purposes
	Loans for business purposes up to 20% of the loan amount (excluding working capital and the payment of personal or business tax liabilities)

Note: The following loan types are not available:

	Building Progress Payment Loans
	Go-Between Loans

Product Features at a Glance

Minimum Loan Amount	$50,000
Maximum Loan Amount	$5,000,000
Maximum LVR	90% Interest Only (Plus capitalised LMI)
Loan Terms up to	25 years
Interest Only up to	10 years
Split Loans Available
Online & Telephone Account Management System
Direct Debit
Direct Salary Crediting
Monthly Loan Statements
Secured VISA Card optional	55 days interest free with same interest rate as the Line of Credit. Annual card fee is $30. Maximum limit $10,000
Cheque book optional
ATM access through all ATM’s
Unrestricted Additional Repayments
Administration fee	$150 per annum
2nd Mortgage over supporting property may be considered
Loan is portable to another security property
Interest Calculation	Daily on closing balance

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Full Member of MFAA
Austral is a member of the Mortgage & Finance Association of Australia (formerly MIAA), the professional body for the mortgage industry.

PH: 02 9299 1833 / FAX: 02 9299 1874

TODAY: Friday, 29th August, 2008

WEALTH MAXIMISER - INVESTOR ASSIST UPDATE - JUNE 2008
The ATO has recently published an edited version of a Private Ruling on its website: http://www.ato.gov.au/rba/content.asp?doc=/rba/content/81797.htm A taxpayer and client of Austral Mortgage, applied for the private ruling to seek confirmation from the ATO that if there was a shortfall between his investment income and his investment outgoings then that shortfall could be capitalised under the home and investment loan & line of credit structure noted in his application.

WEALTH MAXIMISER UPDATE - MAY 2008
Ever since the High Court decision in Hart's case, taxpayers have been seeking clarity from the ATO on the deductibility of capitalised interest in certain loan structures. On 16th April 2008 a favourable Private Ruling issued to an Austral client that provides insight into the ATO's current thinking on the subject.

My Choice
Austral has recently expanded its product offering through its My Choice loan initiative. My Choice provides borrowers with access to a wide range of lenders and loan products for residential, commercial and equipment finance, so no matter what your need our friendly and experienced staff can assist you.

Austral in the Community
Austral Mortgage has been a Principal Sponsor of the Winston Hills Little Athletics Club since October 2006. We are proud to be supporting this community project and congratulate the young athletes of WHLA for their commitment to and successes in the sport.

WEALTH MAXIMISER UPDATE - FEBRUARY 2008
Wealth Maximiser Update 12th February 2008 - We have advice from the ATO that it is well advanced on a binding Tax Determination regarding the deductibility of capitalised interest on a line of credit facility. Borrowers with both a home loan and an investment loan should consider including a capitalising line of credit within their loan structure or at least ascertaining from their lender that they could access such a facility by way of a simple variation of their existing mortgage.

Trans Tasman Finance
Did you know that Austral has a wholly owned subsidiary, Gem Home Loans Limited, in Auckland NZ - we are able to assist with organising mortgage finance for you should you be considering buying property in NZ.

AusComm Finance
AusComm is the specialist Construction and Development division of Austral Mortgage - if you are a developer seeking finance for construction purposes - residential, commercial, retail, industrial - give Peter McAuley a call on 0419 220 630 or email him peter.mcauley@australmortgage.com to discuss your funding requirements.

Mortgage Calculator
A number of excellent resource tools are now available on the internet for people in Australia seeking a loan to finance the purchase of a property or refinance an existing mortgage. One of the most useful and user friendly tools is a mortgage calculator. Before going too far in the purchase and /or borrowing process it is a worthwhile exercise to quickly gauge your borrowing capacity and also determine how your new mortgage repayments will impact on your personal cash flow. Mortgage calculator...

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