| Product Name |
No Deposit Home Loan |
100% Home Loan |
No Deposit Home Loan (zero mortgage insurance) |
106% Home Loan (Due to the global liquidity crisis this lender has withdrawn from the market until further notice. So this loan is currently unavailable as at 25th April 2008) |
| Genuine Savings required |
No genuine savings required. Grants and gifts
can be used to assist for costs (e.g. stamp duty) |
No genuine savings required. Grants and gifts can be used to assist for costs (e.g. stamp duty) |
No genuine savings required. Grants and gifts
can be used to assist for costs (e.g. stamp duty) |
No deposit or genuine savings required. Lender
will also lend money to pay purchase costs up to a maximum of 106% of the purchase price |
| Loan Size |
Minimum $50,000
Maximum $750,000
|
Minimum $100,000
Maximum $500,000 (or $600,000 in certain circumstances)
|
Minimum $50,000
Maximum $750,000 |
NSW
Houses - $200k to $1M
Units - $200k to $850k
ACT
Houses - $200k to $500k
Units - $200k to $400k
VIC
Houses - $200k to $800k
Units - $200k to $700k
QLD
Houses - $200k to $750k
Units - $200k to $600k
SA
Houses - $200k to $500k
Units - $200k to $350k
NT
Houses - $200k to $450k
Units - $200k to $450k
TAS
Houses - $200k to $550k
Units - $200k to $500k |
| Available in |
See our acceptable
location list
|
Loans of up to $500,000 permitted in metropolitan areas of
all mainland states and territories. $600k may be considered where primary applicant has been employed in current job for at least 2 years and has a clear credit record. A few other conditions apply also.
Loans of up to $300,000 permitted in Metropolitan areas of
Tasmania and major regional areas on the mainland
|
See our acceptable location list |
NSW, ACT, VIC, QLD, SA, NT & TAS
Will lend in metropolitan areas in these states as well is
in some well populated regional locations in NSW, VIC & QLD.
Please call to find out whether your location is acceptable.
|
| Loan to Valuation Ratio
(LVR) |
Up to 100% of purchase price |
100% of purchase price |
Up to 100% of purchase price |
106% of purchase price |
| Repayments |
Weekly, fortnightly or monthly (monthly only
for interest only loans) |
Monthly or fortnightly |
Weekly, fortnightly or monthly (monthly only for interest only loans) |
Monthly or fortnightly |
| Available for |
PAYG employees and Self employed borrowers
(income must be fully verified) |
PAYG employees and Self employed borrowers
(income must be fully verified). Owner occupied only |
PAYG employees and Self employed borrowers
(income must be fully verified). |
PAYG employees and Self employed borrowers
(income must be fully verified). |
| Interest Offset account |
Available for variable rate loans only |
Available for variable rate loans only at some of our lenders |
Available for variable rate loans only |
Not available |
| Redraw |
Available |
Available. Some of our lenders offer free redraws of a minimum amount of $1 |
Available |
Only available once loan balance is reduced to 80% or less of the property value |
| Loan Term |
Up to 30 years |
Up to 30 years |
Up to 30 years |
Up to 30 years |
| Construction loans |
Available |
Some lenders offer a construction option |
Available |
Not available |
| Investment purposes |
Yes - See below |
Yes - Applicant must have at least 20% equity in another property |
Yes - See below |
Yes |
| Other |
Can be used for investment purposes but the
applicant must have at least $100k in net assets (property,
cash and shares) or 20% equity in their own home (minimum equity value is $50k).
Exceptions apply to buyers who wish to purchase first property but choose not to live in it and use as an investment due to wanting to continue living with parents or whose work requires them to be mobile.
This lender can consider lending up to 100% of the purchase price against CBD units and studio apartments as little as 25sqm in size on a case by case basis.
|
Numerous lenders are offering 100% no genuine savings loans now. Please call 1300 66 12 11 for more information. |
Can be used for investment purposes but the applicant must have at least $100k in net assets (property, cash and shares) or 20% equity in their own home (minimum equity value is $50k).
Exceptions apply to buyers who wish to purchase first property but choose not to live in it and use as an investment due to wanting to continue living with parents or whose work requires them to be mobile.
No mortgage insurance, mortgage risk fee or loan equalisation fee is payable therefore reducing the amount required upfront to purchase a property. Please call 1300 66 12 11 for more information on this new no deposit home loan option.
This lender can consider lending up to 100% of the purchase price against CBD units and studio apartments as little as 25sqm in size on a case by case basis. |
Variable rate and 3 year fixed rate options available.
Will lend in inner city and CBD. Unit size
must be a minimum of 50 sq metres. |
Bank fees, charges, terms & conditions may be applicable.
