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Mortgage Specialists for over 20 Years

Lo Doc Home Loans

Austral Mortgage Lo Doc Loans

 

Unique Features of Austral's Lo Doc Home Loans

Note: Where a borrower or borrowers are both PAYG and self-employed or have other investment / business income the loan can still be written as a Lo Doc mortgage but any PAYG income must be fully verified.

 

 
 
  Variable LoDoc 60 Advantage Plus LoDoc 60
Home Line Advantage
Fixed LoDoc 60 Advantage Plus Variable LoDoc 70 Advantage Plus LoDoc 70
Home Line Advantage
  100% Offset Line of Credit 100% Offset 100% Offset No Offset
Description Fully featured loan with 100% offset facility Interest charges calculated on the net balance
No BAS or financials required
A flexible Line of Credit interest only facility to access the equity in your home. Capitalising feature helps manage cash flow
No BAS or financials required
Fully featured loan with 100% offset facility Interest charges calculated on the net balance
No BAS or financials required
Fully featured loan with 100% offset facility Interest charges calculated on the net balance
No BAS or financials required
A flexible Line of Credit interest only facility to access the equity in your home. Capitalising feature helps manage cash flow
No BAS or financials required
Suitable for Self Employed
Home Buyers
Investors
Self Employed
Home Buyers
Investors
Self Employed
Home Buyers
Investors
Self Employed
Home Buyers
Investors
Self Employed
Home Buyers
Investors

Rates & Fees   (at 10 July 2014)

Rate Type Variable Variable Fixed 1-5 yrs Variable Variable
Interest Rate 6.61% 6.71%
1 year 5.84%
2 year 5.99%
3 year 5.99%
4 year 6.54%
5 year 6.49%
6.81% 6.91%
Comparison Rate 6.70% n/a
1 year 6.61%
2 year 6.57%
3 year 6.52%
4 year 6.67%
5 year 6.64%
6.90% n/a
Application Fee $550 $550 $550 $550 $550
Valuation Fee per quote - generally $295 per property <$1M; $505 per property $1M-$2M; subject to location
Lenders Legal Fees per quote - for personal borrowers/single security loans generally $385
On-Going Fee $NIL $150 pa $NIL $NIL $150 pa
Lenders Contract Fee $150
plus $50 per split
$150
plus $50 per split
$150
plus $50 per split
$150
plus $50 per split
$150
plus $50 per split

Features

Loan Size $100,000 to $2M
subject to Lending & LMI criteria
$100,000 to $2M
subject to Lending & LMI criteria
$100,000 to $2M
subject to Lending & LMI criteria
$100,000 to $1.5M
subject to Lending & LMI criteria
$100,000 to $1.5M
subject to Lending & LMI criteria
100% Offset YES N/A YES YES N/A
Max Loan Term 30 years 25 years 30 years 30 years 25 years
Interest Only Option 0-10 years 0-10 years 0-10 years 0-10 years 0-10 years
Split Option Up to 4 split accounts. Min $10K per account Up to 4 split accounts. Min $20K per account Up to 4 split accounts. Min $10K per account Up to 4 split accounts. Min $10K per account Up to 4 split accounts. Min $20K per account
Redraw Free online redraw
Manual redraw $50 fee for min $500
N/A Free online redraw
Manual redraw $50 fee for min $500
Free online redraw
Manual redraw $50 fee for min $500
N/A
Online Banking
Phone Banking
Salary Crediting
Direct Debiting
Portability
Cash Card
10 free transactions p.m.
Linked to Offset N/A Linked to Offset Linked to Offset N/A
Visa Card
Fees & Charges apply
N/A Up to $20K N/A N/A Up to $20K
Cheque Book
Fees & Charges apply
N/A YES - $1/withdrawal N/A N/A YES - $1/withdrawal
Repayment Options Weekly, Fortnightly or Monthly for P & I Monthly for I/O Monthly Weekly, Fortnightly or Monthly for P & I Monthly for I/O Weekly, Fortnightly or Monthly for P & I Monthly for I/O Monthly
Extra Repayments Unlimited Variable rate: Unlimited Fixed Rate: Up to $20K p.a. per account allowed Variable rate: Unlimited Unlimited
Max Loan to Value Maximum 60% Maximum 60% Maximum 60% Maximum 70% Maximum 70%
Lenders Mortgage Insurance No Cost to Borrower No Cost to Borrower No Cost to Borrower No Cost to Borrower No Cost to Borrower
Business Purpose $20% to $100K
Excludes working capital and personal or tax liabilities
$20% to $100K
Excludes working capital and personal or tax liabilities
$20% to $100K
Excludes working capital and personal or tax liabilities
N/A N/A

 

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