This is a variable rate interest only facility linked to a chequebook and direct credit & debit facilities.
This a flexible solution best suited to clients who can manage their finances well.
Applicant type
Individuals, Companies, Trusts.
Employment requirements
P.A.Y.G. must be full-time or part-time permanent. If Self-Employed, two years.
Income: required proofs
P.A.Y.G. Pay slips, group certificates or employer letter. Self-employed, two years tax returns. Can also be low Doc
Loan amounts minimum & maximum
$30k to $2 mil
Purpose
Owner-Occupied, or Investment
LVR
If Non-genuine savings 90% LVR
If Genuine savings 95% LVR
Coded, non-coded, or either
Either
Credit related issues
CLEAR. Very minor but paid defaults may be O.K.
Variable, fixed or both
Variable only
P&I, I/O, or both
Interest only If > $85%, max 5 years If < $85%, max 10 year
