Interest rate

Full doc - 85% LVR- from 7.96% PA
Low Doc- 85% LVR- from 8.74% PA
No Doc- 80% LVR- From 7.74% PA
Interest rate is low at lower LVR loan.
Lowest rate is 6.81% PA at 65% LVR.

Security

Standard Residential properties in any populous areas. Depending on lenders post code guide different lender categories property locations in different way and allocate maximum LVR for the location.
Vacant land is acceptable for eligible borrowers only depending on location of the property.
Please submit an inquiry to know maximum LVR available for your property location.

Full Doc/Low Doc/ Acc-Letter

Full Doc- Subject to risk fee up to 85% LVR
Low Doc- Subject to risk fee up to 85% LVR
No Doc- Subject to risk fee up to 80% LVR only with accountant declared income.
Cash out restricted by LVR and length of discharge.

Maximum Loan amount

Full Doc- up to $1.5 mil, Up to $2mil loan available @55% LVR
Low doc or no doc- up to $1.5 mil if discharged for 3 years, up to $1mil if discharged in 1 year for other $750k maximum loan.

Minimum Loan amount

$50k-$100k depending on lender

Credit history

• Up to $1000 paid default can be ignored for eligible bank loans.
• Paid defaults up to $750-$1000 ignored for non bank loans
• Defaults listed >2 years not counted for rate load
• Mortgage arrears count if not paid in 30 days.
• Past 12 months credit inquires need to be explained.
• All defaults and arrears need to be with acceptable explanation.

Depending on above lender assign impairment level and offer interest rate and maximum loan available

Loan Term

2-30 years

Repayment options

P&I or IO up to 5 years

Lenders Application fee

Included with the risk fee

LMI

N/A

Risk Fee

1%-2.1% or the loan amount depending on lender, LVR and degree of credit impairment.

Our Brokerage

Negotiable depending on amount of loan, amount of work and complex nature of loan requirements.

Other costs

Other costs for non bank loans are quoted to client at cost by the lender. Legal cost, mortgage registration, documentation fees, title insurance, settlement fees altogether allow up to $3000-$4000 depending on the lender and current government rates.

Most of above we disclose on our credit quote after selecting the lender.

Some of the above are not ascertainable until the settlement agent quote for the costs.

Proof of Income

Full doc loans 2 years full financials with tax returns are mandatory. Notice of assessment is not required for some lenders.
Low doc bank loans 12 consecutive months BAS's is mandatory, recent 6 months trading statements may be required.
Low doc non bank loans 3-6 months trading account statement is mandatory.
No doc debt consolidation home loans only accountant declaration and borrower's repayment declaration required.

Other supporting documents

Mandatory for all applicants:

1. 100 point ID is mandatory for all applicants and guarantors for the loan.
2. Asset and liability for need to be signed by all applicants.
3. Most up to date council rates need to be provided for all properties.

Refinance:

1. Most recent 6 months mortgage statements for all mortgages being refinanced.
2. Most recent statements for other mortgages.

Debt consolidation:
Ifany other loans are consolidating client need to provide up to 6 months statement for secured or unsecured debts depending on the lender.
Lender may ask for extra documents during the assessment process depending on the strength of the application.
Please submit an inquiry to commence free assessment for ex bankrupt home loans.

Valuation

Lenders operate independent valuation of the offered secuirty. Bank loans usually offer first valuation for free. For non bank loans valuation is done at cost quoted to the client.
Upfront valuation is also available at client cost.