|
Lender Name |
SUNCORP |
|
Product Name |
LOW DOC LOAN
POLICY |
|
Product Type |
LO DOC -
Available on
Variable,
Asset Line,
1,2,3 & 5
year fixed,
Back to
Basics |
|
Interest
Rates |
Latest
Interest
Rates
Compare
Other
Lenders |
|
Redraw
Facility |
Minimum:
$1,000 1
free redraw
(via
Internet and
to Suncorp
account)
each month
$20 fee.
Redraw not
available on
Fixed Rate
Loans. |
|
Offset |
Yes Offset
avaialbe on
standard
variable
products. |
|
Fees |
Standard
Fees and
charges
apply. |
|
LVR |
Owner
Occupier
Maximum LVR
80%.
Investment
Maximum LVR
80%.
Construction
Maximum LVR
80%.
Refinance
Maximum LVR
80%.
Vacant Land
Maximum LVR
80%.
LVR is
calculated
on the lower
of security
purchase of
Bank
valuation in
all cases.
No minimum
LVR
restrictions
apply.
The maximum
available
LVR is
dependant
upon the
nature of
the security
and the type
of facility
being
sought.
Principal &
Interest
with
Acceptable
residential
Security
maximum LVR
80%.
Asset Line
facilities
with
Acceptable
Residential
Security
Maximum LVR
75%.
Stand alone
vacant land
can be used
as security
Maximum LVR
80%. |
|
Repayment
Type |
Low Doc Loan
facilities
will be
available on
either
Principal &
Interest &
Interest
Only Loans
and the
Asset Line. |
|
Repayment
Options |
Repayment
options
depends on
what product
is selected
by borrower
/ borrowers.
Principal &
Interest or
Principal
and
Interest.
Fortnightly
or Monthly
for
Principal
and
Interest.
(Monthly for
Interest
Only). |
|
Repayment
Method |
Repayment
method
depends on
what product
is selected
by borrower
/ borrowers. |
|
Extra
Repayments |
Permitted no
limitations
(variable
rate
products).
Standard
Deferred
Establishment
Fees apply
on Fixed
rate maximum
extra
payments of
$500 per
month
without
penalty. |
|
Term |
Principal &
Interest
Facilities
30years. |
|
Mortgage
Insurance |
The maximum
Suncorp
aggregate
exposure is
$1M per
single
property
above 60%
LVR (Payable
by client). |
|
Acceptable
Income |
Contact us
for
acceptable
income on
1300 726 136 |
|
Product
Change |
Yes
Switching
fee of $300. |
|
Statements |
Issued 6
monthly. |
|
Portability |
Yes |
|
Split Loan
Facility |
Yes. |
