|
Lender Name |
SUNCORP |
|
Product Name |
ASSET LINE
PERSONAL
PURPOSE |
|
Product Type |
INTEREST
ONLY |
|
Interest
Rates |
Latest
Interest
Rates
Compare
Other
Lenders |
|
Redraw
Facility |
Direct from
Asset Line
account. |
|
Offset |
Not
available. |
|
Fees |
Establishment
Fee $600.
Additional
Valuation
Fee $160
Add Loan
Establishment
Fee:$300.
Monthly
Account
Keeping Fee
$10 per
month.
10 free
standard
free
transactions
a month then
60c each
withdrawals/deposits/collections.
Establishment
fee includes
all
Valuations
and Legal
Fees.
Split Loan
Fee $200 |
|
LVR |
Owner
Occupier
Maximum LVR
90%.
Investment
Maximum LVR
90%.
Construction
N/A.
Refinance
Maximum LVR
90%.
Vacant Land
N/A. |
|
Repayment
Type |
Interest
only
(Interest is
capitalised).
Principal
Reductions
allowed. |
|
Repayment
Options |
Weekly,
Fortnightly,
Repayment
frequency
not required
while the
balance
remains
below the
approved
limit.
Interest
Only when
fully drawn. |
|
Repayment
Method |
Internet
transfers,
Direct
Debts, B
Pay,
Internet,
Branch. |
|
Extra
Repayments |
Unlimited. |
|
Special
Offers |
Combined
Value
Discount
OUTSIDE of
the Suncorp
Money
Manager My
Home Package
with all
mortgage
lending
balances
included in
the
aggregation
calculation:
0.50% p.a.
On eligible
aggregated
mortgage
lending
between
$150k and
$250k.
0.70% p.a.
On eligible
aggregated
mortgage
lending of
$250k and
over. |
|
Term |
30 Years. |
|
Loan Size |
Minimum:
$10K.
Maximum:
Unlimited. |
|
Mortgage
Insurance |
Applicable
if LVR is
greater than
80%. |
|
Acceptable
Income |
As per
policy
guidelines. |
|
Product
Change |
Yes new
application
required
applicable
fees apply. |
|
Statements |
Issued
monthly. |
|
Portability |
Not
available. |
|
Split Loan
Facility |
Yes. |
|
Special
Notes |
Vacant Land
as sole
security
Metro
Metro
Regional
Regional
NSW
VIC
QLD
All
other
Max LVR
80%
80%
80%
65%
House
$800,000
$500,000
$500,000
$500,000
Land
$500,000
$300,000
$300,000
$400,000
The maximum
loan amount
where the
LVR does not
exceed 65%
is $400,000
Please refer
to the
Business
Partners
site for
full details
of these
changes. |
|
Target
Market |
Allows the
borrower
access to
funds from
$10K up to
an agreed
credit
limit.
Access is by
way of
cheque book
and
electronic
access.
There are no
regular
repayments,
with
interest
charged only
on the funds
used by the
borrower.
This product
can be used
for
Personal
Purposes or
Investment
Purpose not
for Business
Purposes. |
