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Product Name |
Basic Variable Rate |
Lender |
Heritage Building Society |
|
Initial Rate % |
6.64 |
Intro Rate |
 |
|
Initial Period |
0 months
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Ongoing Rate % |
6.64 |
|
Interest Type (Initial) |
Basic Variable |
Repayment (initial) |
Principal and Interest |
|
Interest type (ongoing) |
Basic Variable |
Repayment (after initial) |
Principal and Interest |
|
Max Term Fixed Rate % |
0 |
Max Term Interest Only % |
0 |
|
Repayment Frequency |
Fortnightly, Monthly, Weekly |
Maximum No of Loan Splits |
10 |
Extended Information
|
States Available |
New South Wales, Queensland, South Australia, Victoria |
Financials Required |
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Product Type(s) |
Construction,Construction,Investment,Investment,Owner Occupied,Owner Occupied,Vacant Land,Vacant Land, |
Non-conforming |
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Notes
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The Society restricts mortgage loan applications with a Loan to Valuation Ratio (LVR) from 90.01% to 95% to applicants who are existing Heritage member who qualify for the First Home Owners Grant.
2 x $110 (plus mileage if applicable) inspection fees apply for construction loans. $50 Progress Draw fee applies for each drawing on Construction Loans.
Agents Settlement Fee ranges from $0 - $250 depending on State.
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).
For $20K redraw fee is $20 + title search 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). |
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Loan Size/LVR |
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Minimum Loan Amount $
|
50,000.00 |
Maximum Loan Amount $
|
99,999,999.00 |
Capitalise LMI
|
 |
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Maximum LVR %
|
95 |
Minimum Loan Term
|
1 |
Max Loan Term
|
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 |
|
Application Fee $ |
0.00 |
Exit Fee $ |
200.00 |
|
Valuation Fee $ |
0.00 |
Ongoing Fees $ |
0.00 |
|
Legal/Solicitor Fee $ |
0.00 |
Ongoing Fee Notes |
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Settlement Fee $ |
0.00 |
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Upfront Fees $ |
600.00 |
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Break cost conditions |
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Early Repayment Fee Notes |
DEF payable if paid out in first 3yrs ($0 - $600 on pro rata basis). Applies to all loans if repaid in full within three years of the latter of initial funding or the most recent free further advance. Early Repayment Fee - Regulated loans attract a flat fee of $800. This fee can be waived if borrower has other existing mortgage lending business with the Society. Non-regulated loans attract a flat fee of one monthâ??s interest. No Early repayment fee applies to payments in advance or capital redu |
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Other borrowing costs $
|
0.00 |
Other Fee Notes |
Switching Fee $100 - $600 (depending on products being switched into) + Break costs apply. 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
|
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 $
|
0.00 |
Fee per Cheque $
|
0.00 |
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EFTPOS fee $
|
0.00 |
Internet banking fee $
|
0.00 |
Internet access fee $
|
0.00 |
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Bpay charges $
|
0.00 |
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