PMP Introductory Home Loan
PMP's Introductory Home Loan is a great way to get into your first home loan at a low rate, while still having the features available to allow you to pay additional repayments, redraw funds for renovations or purchasing further income producing assets and help get you ahead faster.
Key Features |
- Low 12 month discounted rate
- Fully Featured Flexible Loan
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Target Markets |
- are currently employed and are subject to PAYG taxation or have been self-employed or have been full-time investors for at least the past two years
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Features |
ACCEPTABLE LOAN PURPOSE |
- Loans considered for purchase, refinance or consolidation
- Investment or owner-occupied residential security property
- Loans can be regulated or non-regulated by UCCC
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ELIGIBLE BORROWERS |
Individuals (PAYG or self employed), Companies, Partnerships or Trusts |
TERM OF LOAN |
Up to 30 years |
INTEREST RATE |
- Variable Rate only
- Discount is available to the borrower for the first 12 months
- Once the discount has expired no further discounts are available.
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INTEREST OPTIONS |
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SECURITY LOCATION |
- Properties must be located in Australian cities or major regional centres as per relevant insurer
- Acceptable Location Listing.
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ACCEPTABLE SECURITY |
- Properties must be of a residential nature and zoned accordingly.
- No more than one residence on title
- Vacant land less than 5 acres
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SUBSTITUTION |
Yes |
MULTIPLE SECURITIES |
Yes |
MIN LOAN AMOUNT |
$30,000 |
MAX LOAN AMOUNT |
$2,000,000 |
LOAN SPLITS |
Yes (After introductory period) |
MAXIMUM LVR |
90% inc LMI |
Fees and Charges |
APPLICATION FEE |
$330 |
VALUATION FEE |
$236 (or at cost if higher) |
NON PROCEEDING FEE |
- $195 is payable where a credit approval is
obtained subject to valuation but the loan does not proceed for whatever reason
- $295 or full cost of valuations (whichever is the higher) is payable where valuation is obtained and the loan does not proceed as a result of a shortfall in valuation or other credit issues.
- $495 is payable where credit approval is obtained and a satisfactory valuation is returned but for whatever reason the loan does not proceed. |
PRO PACK FEE |
N/A |
SETTLEMENT FEE |
$275 |
LMI |
Payable by the funder <=80% LVR or $500,000
Payable by the borrower > 80% LVR or > $500,000
LMI premium can be capitalised to the loan facility up to 90% LVR. |
SOLICITORS FEE |
$350 |
MONTHLY ADMINISTRATION FEE |
Nil |
VARIATION FEE |
$400 |
DISCHARGE FEE |
$295 per security discharged |
REDRAW FEE (manual) |
$45 |
FIXED RATE FEE (rate lock) |
$395 per security discharged |
DEFERRED ESTABLISHMENT FEE |
RSM |
Year 1 |
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Year 2 |
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Year 3 |
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Year 4 |
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Year 5 |
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