6.44% *Comparison Rate 6.70%
OUR RATES PUT YOU YEARS AHEAD OF THE BIG BANKS
| INSTITUTION |
Variable Rate |
Comparison Rate * |
Commission Paid to Brokers? |
| SCMC – Standard Variable | 6.39% | 6.65% | Nil |
| SCMC – Breathe Easy Loan | 6.62% | 6.54% | Nil |
| SCMC – Line of Credit | 6.44% | 6.70% | Nil |
| CBA – Standard Variable | 7.36% | 7.49% | Yes |
| ANZ – Standard Variable | 7.41% | 7.52% | Yes |
| Westpac – Standard Variable | 7.51% | 7.64% | Yes |
| St George – Standard Variable | 7.43% | 7.59% | Yes |
AND WE DELIVER EXCELLENT FEATURES AND LOW FEES
|
USEFUL FEATURES
|
|
| Owner occupied & investment | Yes |
| P&I or Interest-only | 15 years IO reverting to P&I |
| Max LVR | 90% plus LMI |
| Max Term | 30 years |
| Min loan size | $150,000 |
| Max loan size | $1 million |
| First home buyers | Yes |
| Capitalise mortgage insurance if payable? |
Yes |
| Payment frequency | M,F or W |
| Free redraw | Unlimited |
| Free salary crediting | Yes |
| Ability to capitalise interest repayments | Yes |
| Free 100% interest offsetting | Yes (all-in-one account) |
| Free online loan account | Unlimited access |
| Free phone loan account | Yes |
| ATM/EFTPOS/Bpay | Yes |
| Top Ups | Yes (fees & conditions apply) |
| Fixed rates | No |
| Bonus Rate Drop of 0.15% after 5 years | Yes |
| Construction loan | No |
| Pre-approval | Yes |
|
FEES
|
|
| Application fee |
Nil |
| Monthly ongoing fee |
Nil |
| Annual fee | $345 |
| Legal (deducted from loan)** | $385 |
| Valuation fee per security property |
$275 |
| Settlement (deducted from loan) | Nil |
| Offset management fee |
Nil |
| Pre-approval fee |
Nil |
| Discharge fee | $350 |
| Cancellation of settlement fee^ | $390 |
**This is an estimate of average legal fees. The amount may vary slightly depending on the loan structure. An additional $175 legal fee applies for each additional security property.
^ This fee is payable in the event that settlement is cancelled by anyone other than SCMC.
| *COMPARISON RATE: 6.70% based on a loan amount of $150,000 over 25 years |
|||
| Loan Amount |
Term | Comparison Rate |
Annual Percentage Rate |
| $30,000.00 | 5 Years | |
6.44%p.a for 5 years then 6.29% p.a |
| $50,000.00 | 7 Years |
|
6.44%p.a for 5 years then 6.29% p.a |
| $70,000.00 | 25 Years |
7.10%
|
6.44%p.a for 5 years then 6.29% p.a |
| $100,000.00 | 25 Years |
6.88%
|
6.44%p.a for 5 years then 6.29% p.a |
| $130,000.00 | 25 Years |
6.76%
|
6.44%p.a for 5 years then 6.29% p.a |
| $150,000.00 | 25 Years |
6.70%
|
6.44%p.a for 5 years then 6.29% p.a |
| $200,000.00 | 25 Years |
6.62%
|
6.44%p.a for 5 years then 6.29% p.a |
| $225,000.00 | 25 Years |
6.59%
|
6.44%p.a for 5 years then 6.29% p.a |
| $250,000.00 | 25 Years |
6.56%
|
6.44%p.a for 5 years then 6.29% p.a |
| $275,000.00 | 30 Years |
6.53%
|
6.44%p.a for 5 years then 6.29% p.a |
| $300,000.00 | 30 Years |
6.51%
|
6.44%p.a for 5 years then 6.29% p.a |
*This comparison rate is based on a loan amount of $150,000 over 25 years with fees and charges payable. WARNING: This comparison rate applies only to the example given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
Deferred administration fees (exit fees)
There are no Early Exit Fees or penalties if a loan is completely paid off but not discharged within the first five years. Fees may be payable in the event that a loan is fully discharged within the first five years such as in the event of a sale or refinancing.
All SCMC loans are fully portable which means you can transfer the loan to a new or different property for a nominal fee of around $750 and not incur any early exit penalties.
In the event that an early exit fee is payable, the fee will be 1% of the initial loan amount in the first three years, reducing to 0.80% in the fourth year and 0.60% for the fifth year. These fees may be waived, reduced or refunded depending on the borrower’s circumstances.
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