Lender Name

HOMESIDE LENDING

Product Name

HOME PLUS HOME LOAN

Product Type

VARIABLE

Interest Rates

Latest Interest Rates

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Redraw Facility

Fee Free Redraw is available to approved applicants during the variable rate period only

Offset

Yes 100% Offset when the Homeplus Loan is in variable rate period

Fees

Application Fee:$600 payable
The Base Application Fee Free threshold does not apply to HomePlus 1 Year Intro Fixed Rate   
The Establishment Fee is waived for loans > than $300K in NSW, VIC, ACT, QLD, WA
The Establishment Fee is waived for loans > than $200K in SA, NT, TAS
Monthly Service Fee$ 10
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
Early Exit Fee (EEF)
Homeside HomePlus 1 Year Intro Rate home loan (including with Interest Only payments) Fee 0.60% Term 4 years
Homeside HomePlus fixed and variable rate home loans
Fee 0.45% Cap $3000 Term 4 years
Fixing Fee $100 where loan is refixed from a variable period
Security Discharge Fee $300
Prepayment Fee $360
Loan Modification Fee $200 where loan is switched from interest only to Principal & interest prior to the end of 5 years Interest Only period

LVR

Owner Occupier  LVR 95%
Construction LVR 95%
Refinance -  LVR 95%
Investment -  LVR 95%
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.
Construction/Land now on case by case refer to BDM.

Repayment Type

Principal & Interest or Interest Only
Interest Only option for 5 years
Principal & interest prior to the end of 5 years Interest Only period
Interest rate concessions are available during a variable rate period.

Repayment Options

Weekly Fortnightly or Monthly for Principal and Interest.
Monthly for Interest Only

Repayment Method

Direct debit repayments from Deposit Offset Account
Interest only payments will  be monthly only
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

Additional repayments can be made during the Variable or Introductory Fixed Rate Period without penalty
During the 1- 5 Year Standard Fixed rate term borrowers can pay up to 2 times their minimum monthly repayments
Principal reductions can be made to the loan during both the interest only and principal and interest period
A prepayment fee of $360 plus economic costs is payable for prepayments during the fixed rate periods

Special Offers

Interest Rate Concessions
Tier 1 - $150K< $250K= 0.20% concession
Tier 2 - $250K + = 0.73% concession
The available loan amount is subject to HomeSide's credit policy from time to time. Currently, the minimum loan amount is $150K
Total aggregated lending over $250K
Applicable Loan Products - aggregated discounts will only be available on the following HomePlus Variable P & I and HomePlus Variable with 5 years Interest Only.
Construction Lending
Consturction lending is now available to both new and existing borrowers on the HomePlus 5 Year Interest Only product.

Term

Minimum: 8 years
Maximum: 30 years

Loan Size

Minimum: $120K
Maximum: case by case

Mortgage Insurance

Required for loans over 80% LVR

Acceptable Income

PAYG Salary & wage earners, Self Employed as per normal lending guidelines
No income minimums apply

Product Change

Available on application Fees & Charges apply

Statements

Half yearly

Portability

Yes

Split Loan Facility

Not applicable

Special Notes

Lo Doc available on all products refer to Lo Doc Policy Profile
Gold Visa or Gold MasterCard
Customers choose from either a Gold Visa or Gold MasterCard
Annual Fee on the  credit card is waived
Choice of Fly Bys or Gold Rewards
Up to 44 days interest free
Credit Card can be used to access HomePlus Deposit Offset Account
No annual fee on Gold Visa/MasterCard
Offset available during variable rate only

Target Market

Owner Occupier and Investment purposes