Self employed people who need lots of flexibility are attracted to this home loan. Helpful for borrowers needing a loan up to $1.5m, short term self-employed, borrowing above 80% LVR or maxed on mortgage insurance exposure. Self-employed people may need to access some of their equity in their home for their business or personal use, consolidate debt or they may simply want to purchase the home of their dreams. Only required to have ABN and GST registration for 6 months.
- Loans up to $1.5m
- 90% LVR
- 6 months ABN
- Cash out
- Unpaid defaults OK
-
Late payments OK
(conditions apply)
| Features | |
|---|---|
| Owner occupied & investment | Yes |
| P&I or Interest-only | Yes |
| Max LVR | 85% including risk fee |
| Max LVR for purchase | 90% including risk fee |
| Max LVR for refinance only | 85% including risk fee |
| Max LVR for refinance and debt consolidation | 85% including risk fee |
| Loyalty bonus rate drop | .25% after 12 months & 24 months |
| Maximum Loan Term | 30 years |
| Min loan size | $100,000 |
| Max loan size | $1,500,000 |
| Extra repayments | Yes |
| First home buyers | Yes |
| Lenders’ mortgage insurance | No |
| Payment frequency |
Weekly Fortnightly Monthly |
| Split Loans | Up to 4 splits free |
| Fee free redraw | Unlimited |
| Fee free salary crediting | Yes |
| Fee free 100% offset account | Yes |
| Fee free online loan account | Yes |
| Fee free phone loan account | Yes |
| ATM/EFTPOS via Debit Mastercard | Yes |
| BPAY® | Yes |
| Rewards Card | Yes |
| Post Settlement Increases (Top Ups) | Yes (fees & conditions apply) |
| Can split with variable portion | Yes |
| Fixed rates | No |
| Construction loan | No |
| Pre-approval | Yes |
| ABN | Yes - 6 months |
| Fees | |
|---|---|
| Risk fee | Subject to LVR |
| Settlement fee | $949 |
| Monthly ongoing fee | Nil |
| Annual fee | Nil |
| Title Discharge Fee (when loan is paid out) | $300 plus legals |
self-employed-1.5m.pdf
