|
Lender Name |
THE ROCK
BUILDING
SOCIETY |
|
Product Name |
HOME LOAN
CRUNCHER |
|
Product Type |
VARIABLE |
|
Interest
Rates |
Latest
Interest
Rates
Compare
Other
Lenders |
|
Redraw
Facility |
Yes. The
account has
one payments
in advance.
Minimum
redraw
amount is
$1K. No Fee
applicable. |
|
Offset |
One
Mandotory
(or any
other Rock
savings
account). |
|
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).
Progress
Inspection
Fee $125.
This fee is
charged for
each of the
first and
final
builders
payments
Monthly
Account
Keeping Fee
$5
Offset
Account
Keeping Fee
$5
Release
Fee:$380.
Switch
Fee:$250.
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). |
|
LVR |
Owner
Occupied Max
LVR 95% plus
LMI.
Construction
Max LVR 95%.
Investment:
Max LVR 95%.
Vacant Land:
Max LVR95% .
Refinancing:
Max LVR 95%
(one debt
only).
Debt
consolidation:
Max LVR 90%. |
|
Repayment
Type |
Principal &
Interest or
Interest
Only. |
|
Repayment
Options |
Weekly,
Fortnightly
& Monthly. |
|
Repayment
Method |
Direct
debit,
Deposit book
through
W/Pac
branches,
Rock
branches and
agencies
(Qld),
Internet and
telephone
transfers.
Periodic
Payment from
offset
account. |
|
Extra
Repayments |
Additional
repayments
permitted
(excluding
full
repayment
within 4
years). |
|
Special
Offers |
The Mortgage
Cruncher
rate is
guaranteed
to remain at
least 0.25%
under the
Standard
Variable
Rate.
The Rock
Star
Combined
Package
combined
with the
Home Loan
Cruncher
will incur
one annual
package free
of $360.
Features of
our Rock
Star Loan
are 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) |
|
Term |
Maximum term
30 Years.
5 years
Interest
Only. |
|
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 |
Available. |
|
Statements |
Six monthly. |
|
Portability |
Available. |
|
Split Loan
Facility |
Maximum of
two 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.
All loans
must have
principal
and interest
repayments
on Owner
Occupier and
Interest
Only
available on
Investment
Loan.
Loans for
working
capital or
payment of
personal or
business tax
liabilities
are
specifically
excluded. |
