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Advantage Plus Lo Doc
Term Loan & Line of Credit

Lo Doc

Austral’s fully featured Lo Doc loans have been designed for self employed and PAYG applicants who are unable to provide documentary evidence of income when applying for a home or investment loan.

Do I qualify?

We make it easy by not asking for verification of your taxable income.

You are required however, to complete a Declaration of Financial Position, confirming that the repayments will not adversely impact on your capacity.

Self employed applicants must demonstrate a minimum of 2 years self employment by way of an ABN.

Acceptable Loan Purpose

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

Interest Rate Reviews

Following a satisfactory loan conduct for the first twelve months from the settlement date, you can also apply to convert your loan to a standard variable product.

You will however, be required to provide acceptable evidence of income that is within 10% of your original declaration of financial position. A rate conversion fee will apply.

Credit History

All borrowers, guarantors & associated companies must have exceptional credit history.

Additionally, refinance statements for all loans being refinanced must be clear of arrears and within limit arrangements.

Lo Doc Term loan is also available with Austral’s 100% Offset Account.

Product Features at a Glance

Minimum Loan Amount	$50,000
Maximum Loan Amount	$2,000,000
Maximum LVR	80% Subject to mortgage insurance, Maximum LVR 60% without mortgage insurance for metropolitan & major regional security property locations (Mortgage Insurance premium for loans over 60% LVR is payable by the borrowers) (Plus capitalised LMI)
Loan Terms up to	30 years
Interest Only up to	10 years
Split Loans Available
No ongoing Fees & Charges (For Lo Doc Term Loans)
Online & Telephone Account Management System
Direct Debit
Direct Salary Crediting
Monthly Loan Statements	For Line of Credit or if in combination with Offset Accounts
Unrestricted Additional Repayments
2nd Mortgage over supporting property may be considered
Loan is portable to another security property
ATM access through all banks ATM’s (Line of Credit accounts or Offset Account only)

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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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