Fixed Rate Home Loan - Heritage - 1 yr fixed

Comparison Rate	7.08%
Amount	$200,000
Term	30 years
Initial Payment Est.	$1,262.82
Monthly Payment Est.	$1,335.79
Total Amount Paid Est.	$482,484
Establishment Fee	$600.00

6.49%

Target Market
To purchase property for Owner Occupier, Investment purposes and Refinance for any worthwhile purpose. Construction, extension or renovation of a residential property. Purchase vacant land. Consolidation.

Acceptable Income
Self Employed, Salary & Wage earners. ,
80% of Second Job ,
75% of gross rental allowable income (60% high rise, 0% inner city apartments) ,
Car Allowance: Supplied and fully maintained company vehicle, an allowance of $150 net per week will be allowed in qualification. ,
Supplied with a limited use company vehicle or fuel card, an allowance of $50 net per week will be allowed in qualification. (Limited use vehicle is one that can be used by the applicant to drive to and from work on a daily basis. Fuel card must be paid or reimbursed by the applicant’s employer). ,
Family Allowance children aged < 11 years only. (payments to be received for a min of 5 yrs) ,
Overtime & Commission Income: Not Acceptable forms of income.

Home Loan Loan Term
Maximum: 30 years.

Home Loan Loan Size
Minimum: $20K ,
Maximum Unlimited (Refer BDM for loans over $750K).

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Home Loan Repayment Type
Principal & Interest. (Interest only for Investment loans). ,
Fixed rates: 1,2,3,or 5 years ,
Fixed Rate features that separate our products from some of competitors are: Unlimited additional repayments at anytime without penalty. Redraw available on all fixed rate products.

Repayment Options
Weekly (Monthly /4); Fortnightly (Monthly /2); or Monthly payments. ,
Owner Occupier Principal & Interest. ,
Investment Principal & Interest & Fixed Interest Only. (Maximum: 5 years). ,
Ability to skip repayments if additional repayments have been made. ,
Change of term available. ,
Ability to vary repayments.

Extra Repayments
Unlimited.

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Split Loan Facility
Yes.

Offset
Yes - Partial Offset Account Only.

Redraw Facility
Yes ,
Fee <$20K = $20.00. ,
Fee > $20K = $20.00 + current title search fee.

LVR for Fixed Rate Home Loan - Heritage - 1 yr fixed

Existing customers - Max LVR 95% inc LMI that have opened an account prior to 17.03/09 and qualify for the FHOG and provide 5% genuine savings.. ,
New customers - Max LVR 90% inc LMI ,
Construction 90% including LMI ,
Vacant Land: 90% including LMI ,
Refinance: 90% including LMI ,
Investment 90% including LMI ,
Consolidation: 85% plus LMI maximum of 4 debts

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Fees for Fixed Rate Home Loan - Heritage - 1 yr fixed

Establishment Fee: $600 which includes First security valuation if required to a maximum amount of $330). ,
Additional valuations are $205min. (maybe higher depending upon Property Valuation Figure) ,
Monthly Administration Fee $5 per month (included in repayments) ,
Switch Fee $100-$600 depending upon product being switch to. Investment Interest Only Loans - can not be switched or refixed, application is to be rewritten/renegotiated. ,
Rate Guarantee Fee - 0.12% of the basic loan amount (ex LMI fees) payable upfront. ,
Deferred Establishment Fee ($0 to $600) if repaid within three years of initial funding., on a pro-rata basis ,
Early Repayment Penalty if repaid within three years of initial funding: ,
Owner Occupied: $800. ,
Investment: 1 months Interest. ,
No Early repayment fee applies to payments in advance or capital reductions of any amount. ,
Further Advance Fee $600 ,
Trust / Company Loan $250 additional to the application fee to partially offset solicitors charges where documents are outsourced ,
Multiple Securities fee of $100 charged when there is a second or subsequent security for a loan and the security is in the same state ,
Additional fee of $150 charged where there is a second or subsequent security for a loan and the security is from a different state ,
Settlement Fees on Purchase/Refinance: ,
Agent’s Settlement Fee $0-$250 (Varies from State to State, Displayed in Mortgage Prep Fee) ,
Finalisation Fee $200 ,
Telegraphic Transfer Fee $0 - $35 Maximum. ,
Splitting at initial application only requires one application fee, however legal and settlement fees will apply for both loans. ,
Build loan fee per draw down (x5): $50 per draw down ,
Progressive Valuation (x2): $110 per inspection plus mileage if applicable