Lender Name

HOMESIDE LENDING

Product Name

LO DOC

Product Type

LO DOC / AVAILABLE ON ALL HOMESIDE PRODUCTS

Interest Rates

Latest Interest Rates

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Redraw Facility

As per product selected

Offset

As per product selected

Fees

$300 Lo Doc Fee which will be incoprorated under the one heading of Application Fee.
Application Fee as per product  guide. Lending >$200K Nil.

LVR

Owner Occupier Maximum LVR 80%
Investment Maximum LVR 80%
Construction N/A
Refinance Maximum LVR 80%
Vacant Land Maximum LVR 80% maximum loan $1M

Repayment Type

As per product selected

Repayment Options

As per product selected

Repayment Method

As per product selected

Extra Repayments

As per product selected

Special Offers

Interest Rate As per product selected note the Low Doc option is not available for loans which have an Introductory Fixed Rate.

Term

As per product selected

Loan Size

Minimum $50,000
 LVR < 60%
Maximum loan amount of $2.5 M
Maximum aggregate lending of $2.5 M
LVR > 60% and < 80%
Maximum loan amount of $1M
Maximum aggregate lending of $2.5M
Limited to $600K for Line Of Credit

Mortgage Insurance

Loans with LVR of 60.01% - 80% must be mortgage insured through GenWorth Financial. All loans that require LMI must be referred to GenWorth Financial for review.

Acceptable Income

Individual self-employed borrowers who are Australian and ABN for a minimum of two years Citizens/Permanent Residents.
Available to PAYG borrowers as co-applicants only (PAYG borrowers are subject to normal income verification).
Borrower eligibily at least 1 borrower must be self employed
Documentation required
The self-employed borrower must provide a signed Customer Declaration Form (CDF) confirming customer income, length of employment and ability to service the loan together with an ABN held for a minimum of 2 years.
6 months loan statements from current or recently held (within the last 12 months) home loans must be provided for each applicant to the loan.  The statements must demonstrate the customer’s ability to satisfactorily service an existing or recent home loan.

Product Change

Statements

As per product selected

Portability

As per product selected

Split Loan Facility

As per product selected

Special Notes

Target Market

Purpose Owner Occupied or Investment.
Loans for business purposes are not permitted, including:
loans for working capital; and
loans to repay solicitors loans; and
loans to repay directors loans; and
loans for payment of personal or business tax liabilities.
Note the Lo Doc option may now be used to refinance solicitors loans where the LVR is less than 60% and it can be proven that the purpose of the loan is
To purchase a home
To purchase an investment property
To refinance a loan for one of these purposes
For other personal purposes