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No Deposit Home Loan Pro Pack

Tue, 07/15/2008 - 14:37 — admin

My Home Package has been designed to help borrowers save money and pay off their loans sooner.

For customers that want to reduce the cost of borrowing and managing their money.

The more home loans or other eligible products the greater the savings.

  • No upfront establishment fees or ongoing account keeping fees on home loans for as long as they remain in the Package
  • Unlimited number of eligible home loans can be included within the Package
  • Optional 100% Offset Facility
  • Discounts on a range of products across banking, lending and insurance.

Eligible Loans Standard Variable Rate, Standard 1, 2, 3 & 5 Year Fixed Rate or Asset Line.

Multiple Loans Unlimited number of home loans can be included in the Package for one Package fee.

Package Fee $300 annual package fee. The package fee is divided by 12 and 1/12th of the fee is debited to the
linked savings account each month (net fee $25 per month). The customer is required to maintain sufficient funds in the Everyday Options account to cover the fee.

Combined Value Discount (Discount Margin)
Customers with aggregate lending may receive the following discounts:
0.50% p.a. on eligible loans from $150,000
0.70% p.a. on eligible loans from $250,000
For Fixed Rate loans, the margin will apply on the expiry of the Fixed Rate period.

100% Interest Offset Account
(Standard Variable Only) Funds held in Everyday Options account will be offset against the balance of your linked home loan before interest is charged. A once only Mortgage Offset linking fee of $75 applies.

No Deposit Option
Total loan amount (including fees) up to 100% of the property value on eligible loans excluding Asset Line. Can be used in conjunction with Combined Value Discount.

Deposit Kickstart
Total loan amount (including fees) up to 110% of property value with a maximum 30% (Family Equity) pledge from guarantor on eligible loans excluding Asset Line. Can be used in conjunction with Combined Value Discount.

Other Product Benefits
Discounts are available on a range of products across banking, lending and insurance. These include nil annual card fees on up to 4 credit card accounts and nil Personal Loan establishment fees.

Contact Ability Finance brokers on 02 800024035 for further information.