LoDoc Home Loan
This loan is a fully featured variable or fixed rate home loan to assist with the
purchase or refinance of owner-occupied or investment residential property. It
is designed for customers who are seeking full flexibility and features in their
home loan. It is available for applicants who are self-employed only for the past two years and are not in a position to provide full financial documentation at time of application.
- 9.46% p.a. variable interest rate for the first two years.
If you maintain a satisfactory repayment history on your LoDoc Home Loan for two years the rate changes to standard variable (9.16% p.a.) for free, delivering a comparison rate of 9.28% p.a.*
- No account keeping fees
- Free unlimited extra repayments and 100% offset
It is ideal for customers who may be uncertain of their future and want the peace
of mind of knowing that their home loan is flexible enough to accommodate their
changing circumstances. Repayments can be tailored to suit individual needs.
LoDoc Home Loan
| Purpose |
Purchase or Refinance residential property
Includes the non-structural renovation of new and existing properties |
| Loan Type |
Owner Occupied or Investment |
| Minimum Loan |
$50,000 |
| Maximum Loan |
$2,000,000 |
| Maximum LVR |
80% on standard residential property |
| Ongoing Account keeping fee |
No monthly or annual service fees apply |
| Term |
minimum 12 months.
maximum 30 years |
| Redraw Facility |
Redraw available for Variable rate loans at no cost.
Amounts via debit card and direct debit at a fee $1.50 per transaction |
| Lump Sums |
For Variable Rate loan it is available at any time.
For fixed rate loans the maximum additional repayments are up to $10,000 in a 12 month period without penalty. Prepayments that exceed this tolerance may incur an early repayment cost |
| Interest Only Option |
1 to 10 years |
| Fixed Rate Option |
1, 2, 3, 4, 5, 7, or 10
years (At the end of the fixed rate
term the loan will automatically roll over to the variable rate unless
another fixed rate term is elected)
|
| Split Loan Option |
Customers can split loans with the option of
2 variable rate loan and up to 2 fixed rate loans |
| Repayments |
Principal & Interest can be made monthly, fortnightly or weekly
Interest only is paid monthly on anniversary day of drawdown |
| Features |
- Direct Salary Crediting
- Debit Card
- Phone Banking
- Portability provides for the loan to be transferred from one property to another
|
* Comparison rate is based on a $150,000 loan over 25 years.
Online Application - with our secure form it takes only 5 minutes to get an obligation free pre-approval.
