|
Lender Name |
GE PRIME
LENDING |
|
Product Name |
FLEXIBLE
OPTIONS
STANDARD |
|
Product Type |
VARIABLE |
|
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. No
fee |
|
Offset |
Not
applicable. |
|
Fees |
No
application
fees
No
settlement
fees
Annual Fee
No monthly
administration
fees
No redraw
fees
Annual Fee
295
The 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.
Security
Discharge
Fee $350 |
|
LVR |
Owner
Occupier
Maximum LVR
100%
Investment
Maximum LVR
100%
Construction
N/A
Refinance
Maximum LVR
95%
Debt
Consolidation
$30K<$750K
Maximum LVR
90%
Debt
Consolidation
$750K<$850K
Maximum LVR
85%
Debt
Consolidation
$$850K<$1M
Maximum LVR
80%
Vacant Land
N/A
Maximum LVR
$30K - $500K
Maximum LVR
100%
$400K -
$650K
Maximum LVR
95%
$650K -
$750K
Maximum LVR
90%
$750K -
$850K
Maximum LVR
85%
$850K - $1M
Maximum LVR
80%
$1M - $2.5M
on
application. |
|
Repayment
Type |
Principal
and Interest
or Interest
Only for 2,
3, 5 or 10
years |
|
Repayment
Options |
Direct debit
or direct
electronic
credit. |
|
Repayment
Method |
Weekly,
fortnightly
or monthly
basis. |
|
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
Maximum
$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 |
Switch
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 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. |
