Lender Name

CITIBANK

Product Name

MORTGAGE PLUS / STANDARD VARIABLE OFFSET

Product Type

PROFESSIONAL

Interest Rates

Latest Interest Rates

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Redraw Facility

Allows access to any funds paid into the mortgage over and above the regular principal and interest repayments.
Fee redraws
NB: Access is by bank cheque on application.

Offset

Funds in the linked savings account can be accessed for day-to-day transactions through an ATM/EFTPOS card and cheque book and internet banking.

Fees

Mortgage Plus Package is available for personal borrowers, company and trust borrowings under fully verified and self-certified option. Facility: min.$200K, must have min. primary income of $35Kand Citibank Visa Credit Card (based on credit cards assessment criteria).
One simple annual fee of $350
Nil Application Fee
No account keeping fees
Settlement Fee  $250
No annual Gold Visa card fee (applies to primary or additional card holders)
No mortgage variation fees for additional split accounts or line increases
No fee for switching product within the same package
Free access to any ATM in Australia, if taken with Mortgage Plus Standard Variable Offset.
50 free credits and 50 free debits with Offset Savings account. $2 per transaction applies after the free transactions.

LVR

Owner Occupier Maximum LVR 100%
Investment Maximum LVR 95%
Construction Maximum LVR N/A
Refinance Maximum LVR 90%
Vacant Land maximum LVR 80% without LMI not for construction
Vacant Land maximum  with LVR 95%.
Security location & LVR the maximum LVR is dependent on the property type and security. Refer ww.mortgagebroker.citibank.com.au  Broker Guide or BDM for further information.
Self Certified 70 - Maximum LVR 70% only unregulated loans
Self Certifier 80 Maximum LVR 80% regulated and unregulated loans
Offset not available under self certified loans.

Repayment Type

Principal & Interest and or
Interest Only for up to 5years.

Repayment Options

Weekly,Fortnightly, Monthly.

Repayment Method

Payment Methods: Direct Debit (Easipay) only.
NB: This may be set up from the Offset Savings Account or another nominated account.

Extra Repayments

Additional repayments of any amount can be made at any time.

Special Offers

Mortgage Plus Package is available for personal borrowers, company and trust borrowings under fully verified and self-certified option.
Mortgage Plus Discount Rates for Standard Variable and Offset
Standard Variable and Offset        
0.50% >$200K < $300K
0.70% >$300K < $500K
0.70% > $500K
Mortgage Power         
0.50% >$200K < $300K
0.60% >$300K < $500K
0.70% > $500K
Discounts not available on fixed rates.
Mortgage Plus professional pack offers your clients greater flexibility and value.
With Citibank, your clients can enjoy free access to any ATM in Australia with their 100% Offset mortgage or Mortgage Power account (within their allowed transaction limit).
Offset mortgage - 50 free withdrawals and 50 free deposits per month
Mortgage Power - 15 deposits, 15 withdrawals  free transactions per month.
One simple annual fee of $350
Nil Application fee
No account keeping fees
No annual Gold Visa card (credit card lending criteria applies) fee (applies to primary or additional card holders)
No mortgage variation fees for additional split accounts or line increases if within Mortgage Plus package
For Mortgage Plus customers no fee for switching product  within the same package.
Offset not available with Self Certified loans.

Term

Maximum term 30 years.

Loan Size

Minimum: $50K (Min Mortgage Plus loan is $200K)
Maximum $4M

Mortgage Insurance

Required where LVR >80%. Beyond 80% LMI required. Can go up to 100%. Conditions apply. LMI premium can be capitalized.

Acceptable Income

PAYG Full-time or permanent part-time, Casual, Self Employed.

Product Change

Yes. No fee if product change within Mortgage Plus package eligibility.

Statements

Offset Loan Account: Quarterly (period ending Mar, Jun, Sept & Dec)
Offset Savings Account: Monthly.

Portability

Yes, conditions for portability.

Split Loan Facility

Yes up to 4 loans in a facility & can be combined with either Standard Fixed or Standard Variable.Only 1 offset split per loan.

Special Notes

Key Benefits
Funds in the linked savings account can be accessed for day-to-day
transactions through an ATM/EFTPOS card and cheque book and internet banking.
Principal and interest repayments to the loan ensure that the home loan
balance reduces with each repayment.

Target Market

Mortgage Plus has a one low package fee that entitles to a choice of mortgage with discounted interest rates and a Gold Visa Card free of annual fees.