|
Lender Name |
THE ROCK
BUILDING
SOCIETY |
|
Product Name |
FIXED RATE
LOAN |
|
Product Type |
FIXED
1,2,3 and 5
YEAR FIXED
RATES |
|
Interest
Rates |
Latest
Interest
Rates
Compare
Other
Lenders |
|
Redraw
Facility |
Nil Fee
Minimum
redraw
$1000, A/C
must hold
one month
payment in
advance. |
|
Offset |
Up to six
100%
Mortgage
Offset
accounts are
available on
every loan
Monthly
Offset
Account
Keeping Fee
$5 ( on the
first Offset
account
opened
only). |
|
Fees |
Application
Fee $600
(includes
the
valuation of
one security
property)
Additional
Valuation
Fee $275.
(To the
value of $1
million the
Valuation
Fee will be
added to the
Application
Fee).
Nil Rate
Lock In on
Application
Fee
Progress
Inspection
Fee $125.
This fee is
charged for
each of the
first and
final
builders
payments
Release
Fee:$380.
Switch
Fee:$250.
Monthly
Account
Keeping Fee
Nil
Offset
Account
Keeping Fee
$5
Cheques
written -
$0.75 per
cheque.
First 5
electronic
transactions
free then
charges
applicable.
ATM
withdrawal -
$1.50.
EFTPOS
$0.65.
Variation
Fee:$220 +
GST.
All Deferred
Establishment
Fees:
Year 1 or
Year 2
minimum
$1,500 or
0.25%
(whichever
is greater).
Year 3
minimum
$1,200 or
0.20%
(whichever
is greater).
Year 4
minimum $900
or 0.15%
(whichever
is greater).
(Calculated
on the
approved
loan
amount).
Plus
deferred LMI
if original
LVR was less
than or
equal to
80%. |
|
LVR |
Owner
Occupied &
Construction
Maximum LVR
95% plus LMI.
Investment
Maximum LVR
95%.
Vacant Land
Maximum LVR
90%.
Interest
Only Loans
Maximum LVR
90% New 95%.
Refinancing
Maximum LVR
95%.
Debt
consolidation
Maximum LVR
90%. |
|
Repayment
Type |
Principal &
Interest OR
Interest
Only (max
imum5
years). |
|
Repayment
Options |
Weekly,
Fortnightly
or Monthly
payments. |
|
Repayment
Method |
Direct
debit,
Deposit book
through Wpac
branches,
Rock
branches and
agencies
(QLD)
Internet and
telephone
transfers.
Periodic
Payment from
offset
account. |
|
Extra
Repayments |
Any amount
at any time,
without
penalty
(excluding
full
repayment
within 4
years). |
|
Special
Offers |
The Rock
Star
Combined
Package
features as
follows:
0.75% of
standard
variable for
loans >
$250k
Up to 2 free
100% offset
accounts
Unlimited
free
transactions
on the 100%
offset a/c
Free Redraw
Up to 6
splits (free
of charge)
One low
annual fee
of $300 |
|
Term |
Minimum: 1
year.
Maximum: 30
years. |
|
Loan Size |
Minimum $50K
.
Maximum $3.5
million. |
|
Mortgage
Insurance |
Applicable
on all
loans.
Customer
pays when
LVR>80% . |
|
Acceptable
Income |
Income
calculation
for
serviceability
is reliant
upon
Mortgage
Insurance
approval by
either
Genworth or
PMI. There
are
different
calculations,
test rates
and
guidelines.
Access to
criteria for
PMI can be
accessed via
Website
www.PMIGroup.com.au.
Use the
Genworth
Calculator
at current
standard
rates as an
average test
of
serviceability. |
|
Product
Change |
Yes plus
break costs. |
|
Statements |
Available
upon request
/ Internet
access. |
|
Portability |
Permitted
provided
settlements
are
simultaneous.
Legal costs
will apply
plus
mortgage
insurance
variation
charge. |
|
Split Loan
Facility |
Yes up to
six splits
available. |
|
Special
Notes |
|
|
Target
Market |
Residential
owner
occupied or
investment
property.
Purchase of
residential
land.
Construction
of
residential
property.
Home
improvements.
Refinance of
other
financial
institution
loans.
Personal or
consumer
items.
Purchase of
an
investment
portfolio.
Non-Genuine
or Genuine
Savings .
Acceptable
Loan
Purpose.
Purchase or
construction
of owner
occupied or
investment
property.
I/O
available
for
investment
loans and
can be
considered
for owner
occupied.
Max I/O term
is 5 years.
Loans for
working
capital or
payment of
personal or
business tax
liabilities
are
specifically
excluded. |
