|
Lender Name |
GE PRIME
LENDING |
|
Product Name |
FLEXIBLE
OPTIONS
BASIC HOME
LOAN |
|
Product Type |
BASIC |
|
Interest
Rates |
Latest
Interest
Rates
Compare
Other
Lenders |
|
Offset |
Not
applicable. |
|
Redraw
Facility |
Available on
all variable
rate loans.
Minimum
redraw is
$500 when
accessed
over the
phone or via
the
internet.
Redraw fee
of $15 per
redraw. |
|
Fees |
No monthly
administration
fees
No annual
fees
Deferred
Administration
Fee (DAF) is
1.75% 0-12
months, 1.5%
13-24
months,
1.10% 25-36
months,
0.75% 37-48
months,
0.4% 49-60
months of
the loan
amount. Only
applies if
the loan is
discharged
within the
first five
years.
Deferred
administration
fee* and
Securities
discharge
administration
fees apply
Legal Fees
$500
(displayed
as Mortgage
Pre Fee
Settlement
fee includes
first
valuation
and base
legals)
Redraw fee
of $15 per
transaction
Conversion
fee $350
Security
Discharge
Fee $350 |
|
Repayment
Type |
Principal
and Interest
or Interest
Only for 2,
3, 5 or 10
years. |
|
Repayment
Options |
Weekly,
fortnightly
or monthly
basis. |
|
Repayment
Method |
By Direct
Debit. |
|
Extra
Repayments |
Additional
repayments
on variable
rate loans
can be made
at any time. |
|
Special
Offers |
|
|
Term |
10, 15, 20,
25 or 30
years. |
|
Loan Size |
Minimum $50K
to $750K
(Property
and location
restrictions
apply). |
|
Mortgage
Insurance |
Yes over 80%
payable by
client. |
|
Acceptable
Income |
Proven
Income over
an extended
period of
time will be
considered . |
|
Product
Change |
All or part
of the loan
balance can
be switched
to a fixed
rate at any
time at no
cost.
Conversion
of all or
part of the
loan balance
from
Principal
and Interest
to Interest
Only is
available. |
|
Statements |
Statements
are issued
at the end
of the
financial
year and end
of the
calendar
year.
Interim
statements
are issued
upon request
free of
charge. |
|
Portability |
Yes.
Restrictions
may apply if
loan size is
altered.
(Subject to
a maximum of
2 accounts). |
|
Split Loan
Facility |
Up to 2
separate
accounts
under the
one loan
facility. |
|
Special
Notes |
Online
services
Using a
telephone
the Loan
Service Line
(LSL)
enables
borrowers
to:
Check loan
balances
Schedule
additional
repayments
Request a
redraw
Order an
interim
statement
In addition
to the
above, the
Loan Service
Net (LSN)
enables
borrowers
to: o Review
the loan
transaction
history
Set up
recurring
transactions |
|
LVR |
Owner
Occupier
Maximum LVR
100%
Investment
Maximum LVR
100%
Construction
N/A
Refinance
Maximum LVR
95%
Debt
Consolidation
$30K-$750K
Maximum LVR
90%
Vacant Land
N/A
Maximum LVR
$50K - $500K
Maximum LVR
100%
$500K -
$650K
Maximum LVR
95%
$650K -
$750K
Maximum LVR
90% |
