Wealth Maximiser - Investor Assist
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Wealth Maximiser - Invsetor Assist is a specifically designed product that does just what the name implies, provides both an avenue for investors to maximise and enhance their investment portfolio as well as assisting them to better manage their cash flow.
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| Wealth Maximiser Quick Summary: |
LOAN AMOUNT
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$100,000 - $750,000
N.B. Please contact Austral for loans that exceed $750,000
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MAXIMUM LOAN TERM
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30 years
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| INTEREST RATE |
Contact Austral.
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| MAXIMUM LVR |
90% up to $750,000
N.B. Loans that exceed 80% LVR incur a Lenders Mortgage Insurance Premium payable by the borrower
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| INTEREST ONLY |
Interest Only period of 15 years at which point the loan will automatically revert to a variable Principal & Interest term loan for the remaining 15 years.
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| REPAYMENTS |
Repayment Options;
1. None required – Interest may be capitalised if within the Credit Limit.
2. One-off payments are accepted at any time.
3. A fixed periodic payment as specified by the borrower.
Repayments can be made by direct debit, electronic direct debit of salary, rent, dividends, inter account transfers, BPay, etc.
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| GLOBAL FACILITY LIMIT |
Variable rate Interest Only loan accounts can have limits of up to the Total Maximum Amount of Credit. Available credit on each sub account may be drawn down from either account without the necessity of a sub-account limit change. For example, if Account 1 (home portion) has available credit of $100K, this amount may be drawn down from Account 2 (Investment portion), without having to change the Credit Limit of Account 2.
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| ADDITIONAL PAYMENTS |
Make any amount of additional payments at anytime.
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| THIRD PARTY DIRECT DEBITS |
Borrowers have the ability to accept third party direct debits. A third party has the ability to run direct debits and take a payment from the loan account. Please note that this is only possible if there is sufficient credit available.
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| SPLIT OPTIONS |
Minimum $10,000 per split account.
Maximum 2 accounts
NB: Each Line of Credit split loan account is discrete and you may choose the amount & repayment terms, for each account as desired.
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| ESTABLISHMENT FEES |
$750.00 (Includes 1 valuation fee & solicitor professional fee for 1 property)
$450.00 for each additional property
N.B. $500.00 is payable on application
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| ADDITIONAL FEATURES |
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· Salary Crediting
· Global Facility Limit available
· Internet (LinkLoan) banking available
· Loan is portable to an alternative security property
· Separate loan statements ensure easy accounting for tax purposes
· Borrowers can utilise the capitalising feature of the Wealth Maximiser to pay off their private/home sub-account faster.
· Linkloan Mastercard – Click here for more details
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| OTHER COSTS |
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Government Stamp Duty (approx $4/$1,000 in NSW – may be exempt for refinances)
Disbursements (searches, registration, contract fees, etc – approx $300-$350) and borrowers legals payable by the borrower
Lenders Mortgage Insurance is payable by the borrower for loans that exceed 80% of value (contact Austral for details)
For Company or Trust structure and Guarantees add $150 each
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| EARLY REPAYMENT |
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Early repayment fee is payable when the loan discharges in full within the first 4 ½ years of the initial settlement of the loan. The Early Repayment Fee is the greater of $500 and the result of the Early Repayment Fee calculation determined as follows;
| DISCHARGE PERIOD |
FEE PAYABLE
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6 months or less
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1.80% of original principal
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> 6 months and < 1 year
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1.60% of original principal
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> 1 year < 1 ½ years
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1.40% of original principal
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> 1 ½ years and < 2 years
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1.20% of original principal
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> 2 years and < 2 ½ years
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1.00% of original principal
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> 2 ½ years and < 3 years
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0.80% of original principal
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> 3 years and < 3 ½ years
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0.60% of original principal
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> 3 ½ years and < 4 years
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0.40% of original principal
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> 4 years and < 4 ½ years
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0.20% of original principal
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A Discharge Administration Fee of $500.00 is payable when the loan discharges in full. This fee will be waived if:
1) An early repayment fee has been paid or;
2) The loan discharges in full after the tenth anniversary of the initial loan advance or the last date of any additional advances.
Lenders Mortgage Insurance Recovery Fee is payable if:
1) Where the lender has paid the LMI Premium and the loan discharges within 4 ½ years of settlement of the loan (or the dated of the last of any additional advances) and;
2) The loan is > $500,000 and the LMI premium was paid by the lender.
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