|
Lender Name |
HOMESIDE
LENDING |
|
Product Name |
OFFSET HOME
LOAN |
|
Product Type |
OFFSET |
|
Interest
Rates |
Latest
Interest
Rates
Compare
Other
Lenders |
|
Redraw
Facility |
Fee Free
Redraw
Available on
additional
funds that
have been
repaid on
the Offset
Home Loan
(at any
time). |
|
Offset |
100% |
|
Fees |
Application
Fee:$600
The
Establishment
Fee is
waived for
loans > than
$300K in
NSW, VIC,
ACT, QLD, WA
The
Establishment
Fee is
waived for
loans > than
$200K in SA,
NT, TAS
A fee of
$150 for
each
additional
security
property is
applicable.
Loan Service
Fee:$8 per
month
Fees on
Deposits/Cheque's
Nil on
Deposit
offset
account
Variation
fee $300
Variation of
Loan
Contract
Document
Registration
Fee $150 (
varies from
state to
state)
Additional
Security
$150 per
mortgage
account/loan
product
after the
first one
Packaging
Fee $100 per
mortgage
account/loan
product
after the
first one
Fixing Fee
$100 where
loan is
refixed from
a variable
period
Security
Discharge
Fee $300
Full
Telephone
Banking
services
provided
Offset Home
Loan Fee
0.45% Cap
$3000 Term 4
years |
|
LVR |
Owner
Occupier:
LVR 95%
maximum
Refinance
LVR 95%
maximum
Investment:
LVR 95%
maximum
This is
available
for
Principal
and Interest
Products.
Interest
Only
products can
be used
where the
Interest
Only period
is limited
to a maximum
of 5 years
then
converts to
Principal
and
Interest,
including
Plain and
Simple
Interest
Only option
and HomeSide
HomePlus.
This product
applies to
Purchases
only and is
NOT
applicable
for
refinances. |
|
Repayment
Type |
Principle &
Interest |
|
Repayment
Options |
Weekly,
Fortnightly
or Monthly. |
|
Repayment
Method |
PDC
Repayments:
Available
Customers
who hold a
flexicard or
credit card
can now do
many of
their day to
day banking
transactions
through
giroPost
Australia
Post outlets
across
Australia.
No
additional
fees or
charges
apply when
using
Australia
Post, they
now just
have the
convenience
and
flexibility
of
conducting
their
banking
during 08.00
- 17.00
weekdays
while they
pay their
bills |
|
Extra
Repayments |
No
restriction |
|
Special
Offers |
|
|
Term |
Minimum: 8
years
Maximum: 30
years |
|
Loan Size |
Minimum:
$50,000
Maximum:
case by case |
|
Mortgage
Insurance |
Required on
LVR's above
80%. |
|
Acceptable
Income |
Self
Employed,
Salary and
Wage Earners |
|
Product
Change |
Available on
application
Fees &
Charges
apply |
|
Statements |
Issued 6
monthly |
|
Portability |
Yes |
|
Split Loan
Facility |
Not
applicable |
|
Special
Notes |
Lo Doc
available on
all products
refer to Lo
Doc Policy
Profile
Non resident
case by
case. Vacant
Land maximum
LVR 50%
Acreage >10
acres
located in a
town with a
population
of at least
10,000 and
must have
water and
power
connected |
|
Target
Market |
A Principle
and interest
loan
account,
which links
an everyday
transaction
account
(Deposit
Offset
Account) to
a loan
(Offset Home
Loan).
The balance
of the
transaction
account is
used to 100%
offset the
equivalent
balance of
the loan
account for
the purpose
of
calculating
interest on
the loan.
This reduces
the interest
payable on
the loan,
which
reduces the
term of the
loan. There
is unlimited
access to
money in the
transaction
account via
cheque book
and Visa
Debit Access
Card. |
