Investment Property Mortgage Product Details

Getting started

Minimum amount

$20,000

Maximum amount

No maximum for loans, subject to property valuation. (Variation on standard terms for loans or properties over $1m)

Term

5 year or 20 year

Loan Value Ratio (LVR) for the
5 year term

Maximum of 40% available for any age over 60 years (subject to postcode)

Loan Value Ratio (LVR) for the
20 year term

Property restrictions

No retirement villages/resorts or transportable homes. Some postcode restrictions apply.

Negative equity guarantee

Neither the borrower nor their estate will owe more than the value of the property unless the borrower breaches the loan terms.

Outstanding borrowing

To be repaid at drawdown

Insurance requirements

Current homeowners' replacement policy and landlords insurance

Pensions impact

Refer to Centrelink

The choices
Lump sum options	Fixed or Variable interest rate over 5 year or 20 year available
Monthly Income options	Variable interest rate Equal payments over 2.5% annual increase over 5 or 20 years
Flexible drawdown options	Variable rate facility
- You can combine all 3 options to fit your own circumstances. - In addition, you can protect up to 25% of the value of your property (a lower LVR will apply)

The set up fees
Application fee	$700 per application
Valuation fee	$300 for under $1m $550 for properties ovr $1m Request a quote for properties over $2m
Independent legal advice	Costs borne by applicant
Stamp duty	Payable in some states

When you have the loan
Further drawdowns/redraws	Minimum of $1,000 (variable rate options only)
Ongoing fees or charges	$0

Repaying or changing the loan
Repayments	None required until the end of the term, or cease to reside in residential aged care, or upon death.
Optional repayments	Minimum of $1,000 (penalties may apply on fixed rate loans)
Discharge fee	$250
Fixed rate voluntary break fees	Charged at cost
Post settlement variations	$250
Voluntary repayment fee	1-3 years 1%