Lender Name

THE ROCK BUILDING SOCIETY

Product Name

STANDARD VARIABLE RATE LOAN

Product Type

VARIABLE

Interest Rates

Latest Interest Rates

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Redraw Facility

Nil Fee Minimum Redraw: $1,000.   (Account must hold one months advance payment).

Offset

Yes 100% Offset - Account can be held in one borrower's name.
Can operate up to six Offset accounts for the one fee of $5 per month.

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
Release Fee:$380.
Switch Fee:$250.
Monthly Account Keeping Fee Nil
Offset  Account Keeping Fee $5
First five electronic transactions free then fees applicable.
Cheques written - $0.75 per cheque.
ATM withdrawal - $1.50.
EFTPOS $0.65.
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.
Residential Investment Maximum LVR 95%.
Vacant Land  Maximum LVR 90%.
Interest Only Loans: Up to 95% plus LMI.
Refinancing Up to 95%.
Debt consolidation: Up to 90%.

Repayment Type

Principal & Interest.
Interest Only maximum term 5 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), deposit through Rock branches and agencies.

Extra Repayments

Any amount at any time, without penalty (variable or fixed rate loans).

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 4 years Maximum 30 years:
NOTE: Interest only loans may be used as part of a longer term P&I loan, eg, a 30 year loan with the first 5 years being interest only and the remaining 25 years being P&I. In these circumstances, the Mortgage Insurance premium may be calculated on the P&I rates rate than in 2 components Prepaid interest terms reviewed on an annual basis must be 1 year Fixed Rate Loan.

Loan Size

Preferred Minimum: $100K (QLD $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. Switch fee plus legal costs.

Statements

Issued Monthly or as borrower indicates to The Rock.

Portability

Available.

Split Loan Facility

Available.

Special Notes

Non-Genuine Savings.
Security.
Security must be one or more single residential dwelling properties.
No third party security allowed.
Size of property not to exceed10 ha.
Property must be zoned residential or rural/residential
Credit History no prior credit bureau defaults allowed- others case by case.

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
Purchase or construction of owner occupied or investment property.
Loans for working capital or payment of personal or business tax liabilities are specifically excluded.