|
Lender Name |
GE PRIME
LENDING |
|
Product Name |
FLEXIBLE
OPTIONS LO
DOC |
|
Product Type |
LO DOC |
|
Interest
Rates |
Latest
Interest
Rates
Compare
Other
Lenders |
|
Redraw
Facility |
Available on
all variable
rate loans
at no
additional
cost.
Minimum
redraw is
$50 when
accessed
over the
phone or via
the
internet. |
|
Offset |
Not
applicable. |
|
Fees |
Application
Fee $300
Settlement
Fee $500
(displayed
as Mortgage
Pre Fee
Settlement
fee includes
first
valuation
and base
legals)
Annual Fee
$96
Monthly
administration
fee Nil
No redraw
fees
Deferred
Administration
Fee
1 Year
1.95%
2 Years
1.95%
3 Years
1.85%
4 Years Nil
5 Years Nil
Security
Discharge
Fee $350 |
|
LVR |
Owner
Occupier
Maximum LVR
70%
Investment
Maximum LVR
70%
Construction
N/A
Refinance
Maximum LVR
70%
Vacant Land
N/A
Debt
Consolidation
Maximum LVR
70%
From $30K to
$1M
(Property
and location
restrictions
apply) |
|
Repayment
Type |
Principal
and Interest
or Interest
Only for 2,
3, 5 or 10
years. |
|
Repayment
Options |
Weekly,
fortnightly
or monthly
basis. |
|
Repayment
Method |
Direct debit
or direct
electronic
credit. |
|
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 $30K
to $1M
(Property
and location
restrictions
apply). |
|
Mortgage
Insurance |
Yes ( Paid
by GE) |
|
Acceptable
Income |
Self
Employed. 1
day ABN. |
|
Product
Change |
All or part
of the loan
balance can
be switched
to a fixed
rate at any
time.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. |
|
Split Loan
Facility |
Up to 4
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:
Review the
loan
transaction
history
Set up
recurring
transactions
Request pay
anyone
transactions. |
|
Target
Market |
Owner
occupied or
investment
residential
property
purchases or
refinancing
existing
loans. |
