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Design-a-Loan (Line of Credit)

Design a loan line of credit

Austral’s Design-a-Loan Line of Credit enables borrowers to transact within a defined Credit Limit. It is available as either a “stand-alone” loan account or as part of an overall split loan structure.

Statements of account are issued monthly and interest may be capitalised up to the Credit Limit.

Acceptable Loan Purpose.

	Purchase or refinance an owner occupied property
	Purchase or refinance an investment property
	Debt consolidation

Can I Split my Design-a-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.

Lower than low Interest Rates...

The Design-a-Loan has been designed to offer the lowest variable interest rate. For an annual fee of $299 (charged to a nominated loan account), we’ll further reduce your interest rate by 0.10%.

For an annual fee of $345, your variable interest rate will reduce by 0.15%. Maximum total loan amount for discounted loans (with annual fee) is $750,000

Benefits of a Design-a-Loan

	Name your accounts (40 characters incl. spaces). Name will appear on Loan Statements, Internet Access and Settlement Confirmation
	Global Facility Limit - available for Variable Rate accounts only.
	LinkLoan Mastercard is optional. With an annual fee of $35 (waived in the first year), the LinkLoan Mastercard provides you with direct access to your redraw.
	Capitalising of interest charges up to the defined Credit Limit. No loan repayments are required where the loan account balance is below the Credit Limit.

Product Features at a Glance

Minimum Loan Amount	$50,000
Maximum Loan Amount	$700,000 (as a stand alone product)
Maximum LVR	85% On Owner Occupied & 85% LVR for investment purchases P & I Account Only
Loan Terms up to	30 years
Interest Only up to	15 years
Split Loans Available
No ongoing Fees & Charges
Online (LinkLoan) Account Management System
Direct Debit
Direct Salary Crediting
Loan is portable to another security property (fees apply)
Global Facility Limit Available
Austral's LinkLoan Mastercard (optional)	Available with any variable account facility

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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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