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Product Name |
3 Year Fixed Rate |
Lender |
Heritage Building Society |
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Initial Rate % |
6.75 |
Intro Rate |
 |
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Initial Period |
36 months
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Ongoing Rate % |
7.05 |
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Interest Type (Initial) |
Fixed |
Repayment (initial) |
P&I or I/O |
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Interest type (ongoing) |
Standard Variable |
Repayment (after initial) |
Principal and Interest |
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Max Term Fixed Rate % |
3 |
Max Term Interest Only % |
3 |
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Repayment Frequency |
Fortnightly, Monthly, Weekly |
Maximum No of Loan Splits |
10 |
Extended Information
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States Available |
ACT, New South Wales, Queensland, South Australia, Victoria |
Financials Required |
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Product Type(s) |
Construction,Construction,Construction,Investment,Investment,Investment,Owner Occupied,Owner Occupied,Owner Occupied,Vacant Land,Vacant Land,Vacant Land, |
Non-conforming |
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Notes
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Effective 17th March 2009, due to high demand, the Society will be restricting mortgage loan applications with a Loan to Valuation Ratio (LVR) from 90.01% to 95% to applicants who are existing Heritage members who qualify for the First Home Owners Grant (an existing member is a member who has a Heritage account opened prior to the 17th March 2009).
Interest Only available for Investment Loans Only.
2 x $110 (plus mileage if applicable) inspection fees apply for Construction loans. $50 Progress Draw fee applies for each drawing on Construction Loans.
Application Fee includes first security fee up to a max $330. Additional valuation min $205.00 (maybe higher depending upon property location and valuation figure).
Rate Lock available - 0.12% of the basic loan amount (excluding funded application fee and LMI premium) and is payable upfront prior to loan being approved. Rate guaranteed for 90 days from acknowledgement form being signed.
Agents Settlement Fee ranges from $0 - $250 depending on the State.
For redraw over $20K fee is $20, title search fee.
With the exception of Trust, Company, Guarantees attract a fee of $250 in addition to app fee. Multiple securities $100 charged for additional securities in same State. Additional fee of $150 for additional securities in another State.
Weekly repayment (monthly/4) and Fortnightly repayment (monthly/2).
Switching Fee $100 - $600 (depending on products being switched into) + Break costs. Interest Only loans can not be switched or refixed, they need to be rewritten/renegotiated. |
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Loan Size/LVR |
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Minimum Loan Amount $
|
20,000.00 |
Maximum Loan Amount $
|
99,999,999.00 |
Capitalise LMI
|
 |
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Maximum LVR %
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95 |
Minimum Loan Term
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1 |
Max Loan Term
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30 |
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Loan Fees |
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Establishment $ |
600.00 |
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Cost to switch to fixed $ |
0.00 |
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Application Fee $ |
0.00 |
Exit Fee $ |
200.00 |
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Valuation Fee $ |
0.00 |
Ongoing Fees $ |
5.00 |
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Legal/Solicitor Fee $ |
0.00 |
Ongoing Fee Notes |
$5 monthly |
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Settlement Fee $ |
0.00 |
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Upfront Fees $ |
600.00 |
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Break cost conditions |
Economic costs |
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Early Repayment Fee Notes |
DEF payable if paid out in first 3 yrs ($0 - $600 on pro rata basis). ERF - O/O $800, INV one month's interest if loan repaid within the first 3 years. Regulated loans attract a flat fee of $800.00, the early termination fee is waived if the loan is repaid during the fixed rate term (although there may be a break fee payable) If the loan is paid after the fixed rate term has expired then the early termination fee will be payable if the loan is repaid within 3 years of initial funds. |
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Other borrowing costs $
|
0.00 |
Other Fee Notes |
Switching Fee $100 - $600 (depending on products being switched into) + Break costs. Interest Only loans can not be switched or refixed, they need to be rewritten/renegotiated. Please consult your BDM as switch fees may vary. |
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Services |
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Internet Banking |
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Telephone Banking |
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Credit Card Option |
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Bpay Option |
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Portability of loan |
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Professional Pack |
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Cheque account access |
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Reverse Mortgage |
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Free Transactions per month
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0 |
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Redraw Available |
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Minimum Redraw $
|
100.00 |
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Offset Account |
Partial |
Direct Salary Credit |
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Access Fees |
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Loan Redraw fee $
|
20.00 |
ATM own wdfee $
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0.00 |
Fee per Cheque $
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0.00 |
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EFTPOS fee $
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0.00 |
Internet banking fee $
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0.00 |
Internet access fee $
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0.00 |
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Bpay charges $
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0.00 |
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