PRODUCT OVERVIEW
- Available for house & land construction in Metro, Non Metro, Regional & Unclassified locations.
- Construction to be completed within 12 months of land settlement, penalties may apply.
- Product includes Offset Account, BPAY®, Internet Banking, ATM/EFTPOS access, Redraw (post construction).
- 100% of the Borrower(s) funds to complete is retained by the lender at settlement.
- Above rates include standard Interest Only term during construction of 12 months followed by P&I repayments.
- ^Interest Only after construction phase is unavailable for Owner Occupied loans >80% & <90% LVR.
- ^Interest Only Investment after construction up to 5 years with LVR’s >80% add 0.40% to the rate.
- ^Interest Only Investment after construction up to 3 years with LVR’s >80% and <90% add 0.40% to the rate.
- Debt to Income Ratio to be less than 8.00:1 where the LVR is >80% and <90%.
- Progress draw fees may be higher on application (if higher then actual cost will be charged).
- Available for accepted Visa Holders for Temp/Permanent applicants living, working & paying tax in Aust to 80%.
- Vacant land as stand alone security not acceptable.
RATE GUIDE | Construct House & Land
| LVR Options | <80% | <95% |
| Owner Occupied rate to $2M* | 6.69% | 6.99% |
| OO Loans >$2M & <2.5M | 7.19% | NA |
PURPOSE LOADINGS & RISK FEES
| Investment Loading | Add 0.30% |
| ^Interest Only (max 5 years) | Add 0.40% |
| Construction Risk Fees (CRF) (Fee calculated based upon approved loan limit & not added to the interest rate). | Owner Occupied: <75% – 0.50%, <80% – 1.00%, <85% – 2.25%, <90% – 3.50%, <91% – 4.00%, <92% – 4.50%, <93% – 5.00%, <94% – 5.50%, <95% – 6.00% Investment: <75% – 1.25%, <80% – 1.75%, <85% – 23.00%, <90% – 4.25%, <91% – 4.75%, <92% – 5.25%, <93% – 5.75%, <94% – 6.25%, <95% – 6.75% Multi Dwelling (ex Duplex): <75% – 2.50%, <80% – 3.00% |
MAX LOAN SIZE & LVR GUIDE
| LVR | Inner City | Metro | Non-Metro | Regional |
| 0 – 70% | $1,500,000* | $2,500,000* | $2,500,000* | $1,250,000 |
| 70.01% – 80.00% | $1,250,000* | $2,500,000* | $2,500,000* | $1,000,000 |
| 80.01% – 90.00% | $1,250,000* | $1,750,000* | $1,750,000* | $850,000 |
| 90.01% – 95.00% | NA | $1,500,000* | $1,500,000* | NA |
- Maximum LVR for Inner City, High-Risk & Regional postcodes 87% without LMI & 80% with LMI
- Maximum LVR for Unclassified postcode properties is 75%
- Minimum loan size $50,000 | *Maximum loan up to $2.5M by negotiation | Maximum aggregate loans $4M
APPROX. FEES
GET IN
| Application Fee | $299.00 |
| Construction Admin Fee | $750.00 |
| Valuation Fee from | At cost |
| Lenders Legal Fee from | $440.00 |
| Progress Drawdown Fee (includes 5 progress inspections) | $925.00 |
| Annual fee Owner Occ | $0.00 if LVR < 80% $395.00 if LVR > 80% |
| Annual Fee Investment | $395.00 |
| Settlement Fee | $199.00 |
GET OUT
| Discharge Fees approx. | $795.00 |
Other terms, fees & charges may apply. Refer to the Postcode Guide for more details on acceptable security locations and LVR limitations. Product availability & conditions subject to change without notice. Australian Credit Licence 409 649. Rates effective from 19th June 2024.