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.
Term loan with 100% Offset account
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
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)
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
Principal and interest or interest only up to 10 years
Interest is calculated daily and charged monthly
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
Is not permitted on this loan; please refer to the line of credit loan
You may choose weekly, fortnightly or monthly
Your choice of a variable rate or a fixed rate for 1, 2, 3, 4 or 5 years or a combination
Payments are credited to your offset account and your regular loan repayment is automatically debited from this account
You may choose to have a direct debit established from another bank account
Yes, you may elect to have your salary directly credited to your offset account
Yes, you may elect to have other income directly credited to your offset account for, example rental income
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
No, interest paid annual in advance is not available
Yes, you may choose up to 4 separate loan splits
Yes, you may change loan products. Fees may apply
Yes, you may switch all or part of your loan to a fixed rate at any time.
Fees may apply
Yes, you may increase your loan at a later date subject to normal credit criteria.
Fees may apply
Yes, you may substitute the security property subject to approval. Fees may apply
Yes, you may elect to make a lump sum payment and then reduce your ongoing minimum payment
Yes
Yes
Yes
Yes, you may access funds in your Offset Account
Yes, you may arrange to have direct debits from your Offset Account
No cheque book is available with this account
Are issued every month
1st registered mortgage over acceptable residential property
The offset account must be established and terminated at the same time as the loan account
$20,000
No maximum loan but lending criteria applies
95% including capitalised lenders mortgage insurance
Applies where the loan to value ratio exceeds 80%
30 years
Bendigo and Adelaide Bank Limited
Mortgageport Management Pty Limited (ACL 386360)
Yes, you have the option to have the loan establishment fees refunded to you at settlement.
A higher interest rate may apply
$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
$440.00
$150.00 for the first loan and $50.00 for each additional loan payable once at settlement. Construction loan $250
Lenders Mortgage Insurance premiums apply where the loan to value ratio (LVR) exceeds 80%
$495.00 payable when you close the loan and discharge the security, plus lenders legal fees of approximately $330.00
Nil, if you have a variable rate loan, break fees may apply if you have a fixed rate loan
$242 to cover 2 standard progress inspections. Additional fees may apply depending on property location
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).