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  • 2 year fixed investment home loan

    Warning:*Comparison rate calculated on loan amount of $150,000 for term of 25 years based on monthly repayments. These rates are for secured loans only. This comparison Rate applies only to the example or examples given. Different amounts and terms will result in different Comparison Rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison Rate but may influence the cost of the loan.
    Up to 80% Loan to Value Ratio (LVR). New customers only.

    Structuring your Investment Property Loan correctly can save you thousands of dollars. Mortgageport Loans Consultants are highly experienced at financing property investments, and will assess your personal situation to tailor a loan accordingly. We’ll get you the best investment loan rates and support you at every step to make your property investment happen quickly and efficiently.

    • Let us structure a Property Investment Loan to help you build more wealth at very competitive investment loan rates
    • Be ready to make an offer on an investment home with our in-house loan approval ensuring shorter turn around times
    • Enjoy flexible borrowing capacity with a Loan-to-Value Ratio (LVR) up to 80%
    • We’ll give you a hand with paperwork to make the process easy and stress-free
    • Be supported throughout the life of your Investment Property Loan; if a better home loan product comes up you’ll be the first to know about it

    Product Overview
    Description

    Term loan with 100% Offset account

    Suitable borrowers

    This loan is available to PAYG employees, self employed borrowers, full time or part time investors and corporate borrowers, that are permanent residents of Australia

    Purpose

    Any worthwhile purpose including;
    • Purchase or refinance of owner occupied or investment property
    • Debt consolidation
    • Construction loans with progress payments (excluding owner builders)
    • Bridging finance (go between loans)
    • Equity loans for investment or personal purposes
    • Loans for business purposes up to 20% of the loan amount (excluding working capital and the payment of personal or business tax liabilities)

    Key benefits

    This loan is packed with a range of features and provides borrowers with the flexibility to manage their mortgage at competitive interest rates
    • A separate Offset Account is linked to the home loan and the Offset Account accrues interest at the loan interest rate which reduces the interest payable on the loan
    • 100% Offset (not a partial offset account)
    • No regular deposits required provided funds are held in Offset Account to meet loan repayments
    • Available on fixed rate loans and variable rate loans
    • Funds held in the offset account can be accessed through ATMs, online banking and other standard means
    • No establishment fee option available which covers all fees referred to below
    • Loan to value ratios of up to 95% inclusive capitalised lenders mortgage insurance
    • Up to 4 separate loan splits
    • No ongoing account keeping fees
    • Principal and interest or interest only up to 10 years
    • No annual reviews required

    Product Details
    Repayment types

    Principal and interest or interest only up to 10 years

    Interest calculation

    Interest is calculated daily and charged monthly

    Interest only periods

    A maximum of 10 years if the loan to value ratio is 90% or less, after the interest only period the loan will revert to a principal and interest loan over the remaining loan term

    Interest capitalisation

    Is not permitted on this loan; please refer to the line of credit loan

    Repayment frequency

    You may choose weekly, fortnightly or monthly

    Interest rate types

    Your choice of a variable rate or a fixed rate for 1, 2, 3, 4 or 5 years or a combination

    Repayment Methods
    Payment method

    Payments are credited to your offset account and your regular loan repayment is automatically debited from this account

    Direct debit

    You may choose to have a direct debit established from another bank account

    Direct salary credit

    Yes, you may elect to have your salary directly credited to your offset account

    Other income credits

    Yes, you may elect to have other income directly credited to your offset account for, example rental income

    Additional payments

    You may elect to pay any amount into your offset account and you receive an interest benefit regardless of whether you have a variable rate or fixed rate loan. You may also pay any additional amount off your loan if it is a variable rate and up to $20,000 per annum on each separate loan if your loan is a fixed rate. Funds can be easily transferred from the offset balance to the loan portion via online banking

    Interest in advance

    No, interest paid annual in advance is not available

    Loan flexibility
    Split loans

    Yes, you may choose up to 4 separate loan splits

    Loan switching

    Yes, you may change loan products. Fees may apply

    Switch to fixed rate

    Yes, you may switch all or part of your loan to a fixed rate at any time.
    Fees may apply

    Loan increases

    Yes, you may increase your loan at a later date subject to normal credit criteria.
    Fees may apply

    Loan portability

    Yes, you may substitute the security property subject to approval. Fees may apply

    Lump sum payments

    Yes, you may elect to make a lump sum payment and then reduce your ongoing minimum payment

    Loan transacting
    Redraw

    Yes

    Internet access

    Yes

    Phone access

    Yes

    ATM/EFTPOS

    Yes, you may access funds in your Offset Account

    Direct debits

    Yes, you may arrange to have direct debits from your Offset Account

    Cheque book

    No cheque book is available with this account

    Other details
    Statements

    Are issued every month

    Security

    1st registered mortgage over acceptable residential property

    Linked accounts

    The offset account must be established and terminated at the same time as the loan account

    Minimum loan

    $20,000

    Maximum loan

    No maximum loan but lending criteria applies

    Maximum loan to value ratio

    95% including capitalised lenders mortgage insurance

    Mortgage insurance

    Applies where the loan to value ratio exceeds 80%

    Maximum loan term

    30 years

    Lender

    Bendigo and Adelaide Bank Limited

    Manager

    Mortgageport Management Pty Limited (ACL 386360)

    Fees and Charges
    No establishment fee

    Yes, you have the option to have the loan establishment fees refunded to you at settlement.
    A higher interest rate may apply

    Application fee

    $330.00. Additional fees may apply where the security property is worth more than $1m or where more than one property is used as security

    Lenders legal fees

    $440.00

    Contract fee

    $150.00 for the first loan and $50.00 for each additional loan payable once at settlement. Construction loan $250

    LMI

    Lenders Mortgage Insurance premiums apply where the loan to value ratio (LVR) exceeds 80%

    Discharge fees

    $495.00 payable when you close the loan and discharge the security, plus lenders legal fees of approximately $330.00

    Early repayment fees

    Nil, if you have a variable rate loan, break fees may apply if you have a fixed rate loan

    Construction fees

    $242 to cover 2 standard progress inspections. Additional fees may apply depending on property location

    Terms and Conditions

    Warning:*Comparison rate calculated on loan amount of $150,000 for term of 25 years based on monthly repayments. These rates are for secured loans only. This comparison Rate applies only to the example or examples given. Different amounts and terms will result in different Comparison Rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison Rate but may influence the cost of the loan.
    Owner occupier only. Rebate up to 1%. Up to 80% Loan to Value Ratio (LVR).

     

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