The Line of Credit facility is available for personal, investment or business purposes. Simply deposit a combination of income and savings into your Line of Credit account and each dollar will reduce the interest you pay on your loan.
A Line of Credit enables you 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.
| LOAN AMOUNTS |
min $50,000, max $5,000,000 |
| LOAN TO VALUE RATIO |
maximum 95% |
| SECURITY |
registered 1st mortgage over residential property. Collateral 2nd mortgage over additional property may be considered |
| REPAYMENTS |
Repayments due within 28 days of monthly statement. |
| SPLIT LOANS |
A combination of additional accounts (variable & fixed rates) also available |
| PORTABILITY |
Loan can be transferred to another property (conditions & fees apply) |
| ADDITIONAL FEATURES |
- Regular repayments are not required until the full credit limit has been reached
- ATM access through all banks ATM’s
- Funds can be accessed through optional cheque book or linked Visa/ Cash card using Giropost, ATM or EFTPOS
- Ability to convert to other loan products |
LO DOC OPTION
A Line of Credit designed for self employed and PAYG applicants who are unable to provide documentary evidence of income.
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.
ABN registered for a minimum of 2 years must be on the declaration (self employed applicants only)
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Maximum Loan amount $2,000,000
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Maximum Loan to value ratio 80%
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For all other features refer to Line of Credit.
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