Minimum loan size – $100,000

• Investment, debt consolidation, bridging, refinancing and a wide range of business purposes.
• All loans must be non-coded except where borrower is a company.
• Mortgage insurance is not required.
• Exclusion – construction loan for the development of a security property.

• Residential, commercial, retail and industrial real estate in metropolitan, outer metropolitan areas and major regional centres in all states.
• 1st mortgage only.
• 1st party mortgagor/borrower preferred.
• Directors’ guarantees to support company borrower.
• Group guarantees to support company borrowers where appropriate.
• Floating charge from company borrower may be required if security is owner occupied.
• Some properties of a specialised nature eg. hotels, motels and retirement villages are not acceptable security.

• Criteria for serviceability may be seen as more flexible than other lenders.
• Serviceability should be demonstrated and evidenced from one or more of the following:
  • Taxation returns
  • PAYG statements
  • Financial statements
  • Cash flow projections
  • External accountant assessment of borrower’s debt servicing capability
• For loans where repayment is to come from sale of the security property or other identified and acceptable sources, and where regular cash flow will not support borrowings, interest retention for the term of the loan may be considered.
• Interest retention is invested in the borrower’s name in the trustee’s mortgage fund, with monthly withdrawals to meet interest payments.
• Income Declaration for loans up to $2,000,000 and 70% LVR.

• Loans are offered on an interest only basis with interest payable monthly in advance.
• Principal repayments may be made during the term. Repayments other than at maturity or as agreed on approval will be subject to prepayment fees.

• Minimum $250,000
• Maximum $5,000,000

• Business or investment purposes.
• Must be non-coded except where borrower is a company.
• A statement of purpose demonstrating the need for and likely usage pattern for redraw facility as opposed to fully drawn loan is required. This facility is not intended to replace a cheque account facility.

• 2 – 5 years.
• Repayment of the whole facility where the period between the repayment date and the loan maturity date exceeds 12 months will incur additional interest.
• Should the period between the repayment date and maturity be 12 months or less, 30 days additional interest will only apply to the principal outstanding.

• Interest payments will be made via the PDC direct debit system to the borrower’s nominated bank account.
• Redraw requests will only be credited to the borrower’s same nominated bank account.

• Unlimited drawdowns and repayments permitted. Minimum amount $5,000.
• Redraws via a redraw request form.
• Repayments by cheque only payable to the trustee.