|
Lender Name |
THE ROCK
BUILDING
SOCIETY |
|
Product Name |
ROCK STAR
LINE OF
CREDIT |
|
Product Type |
PROFESSIONAL |
|
Interest
Rates |
Latest
Interest
Rates
Compare
Other
Lenders |
|
Redraw
Facility |
Yes. Account
to have one
payment in
advance. Any
amount in
addition may
be redrawn
at anytime.
Minimum
amount $1K
at no cost.
Maximum LVR
after redraw
not to
exceed 95%. |
|
Offset |
Not
available. |
|
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).
Annual
Package Fee
$300
Progress
Inspection
Fee $125.
This fee is
charged for
each of the
first and
final
builders
payments
Account
Keeping Fee
Nil.
Release
Fee:$380.
Switch
Fee:$250.
Access Fees
Free
Internet
banking,
Phone
banking, ATM
& EFTPOS
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 |
|
LVR |
Owner
Occupier
Maximum LVR
80%.
Investment
Maximum LVR
80%.
Construction
Maximum LVR
80% .
Refinance
Maximum LVR
80%.
Debt
Consolidation
Maximum LVR
80%. |
|
Repayment
Type |
Principal &
Interest.
Interest
Only maximum
term 10
years.
Variable or
Fixed. |
|
Repayment
Options |
Weekly,
Fortnightly
or Monthly. |
|
Repayment
Method |
Direct
debit,
Deposit book
through WBC
branches,
Rock
branches and
agencies
(Qld),
Internet and
telephone
transfers.
Periodic
Payment from
offset
account -
(free). |
|
Extra
Repayments |
Unlimited.
(Excluding
full
repayment
within first
4 years) |
|
Special
Offers |
Discounts
applicable
off the
Standard
Variable
Rate.
$100K<$250K
0.50%.
>$250K<$3.5M
0.75%. |
|
Term |
Maximum loan
term 30
years.
Maximum
Interest
Only term 10
years. |
|
Loan Size |
Minimum
$100K.
Maximum
$2.5M. |
|
Mortgage
Insurance |
Applicable
to all
loans.
Customer
pays when
LVR is
greater than
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 |
Issued six
monthly. |
|
Portability |
Available. |
|
Split Loan
Facility |
Loans can be
split up to
two splits. |
|
Special
Notes |
|
|
Target
Market |
A home loan
available to
members
consisting
of
discounted
rates.
This package
is available
to
professionals
and non
professional
clients. |
