Low Doc Home Loan - Westpac - Equity Access Lo Doc

Comparison Rate	7.26%
Amount	$200,000
Term	30 years
Monthly Payment Est.	$1,352.17
Total Amount Paid Est.	$490,920
Establishment Fee	$600.00

7.16%

Target Market
A variable loan specifically for customers who are self employed, experience uneven cash flows, have difficulty separating their personal or business cashflows or who do not have up to date financials. ,
A Loan that gives access to the equity in a property for any worthwhile purpose including investments, education, holidays or cars, with a choice of repayments options. Can be used for any legal purpose including business purposes. ,
For the customers tax record keeping purposes, an Equity Access loan can be split into different accounts as part of a combination loan package.

Acceptable Income
Self Employed with 2 years tax returns (including current year) and financials to be supplied, salary and wage earner. ,
Lo Doc Applications: must be supported by 12 months worth of Business Activity Statements (BAS) and the end of latest BAS activity period no more than 4 months prior to the the first formal application submission date. ,
Following Documents can be used to comply with the BAS requirement: ,
- Completed ATO BAS templates ,
- Completed BAS created vis Accountant's software ,
- BAS printouts/summaries from the Tax Agent Portal or the Tax Office ,
Low Doc Loans must be supported by: ,
- Copy of the Australian Business Registration certificate generated at the time of ABN registration or The letter issued by Australian Business Register that confirms the ABN registration and accompanies the certificate. ,
ABN registration date was at least 2 years prior to the date of application.

Home Loan Loan Term
Revolving facility repayable on demand.

Home Loan Loan Size
Minimum loan amount $40K ($150k on Pro Pack) ,
Maximum Loan Amount - Non Mortgage Insured ,
Vacant Security $400K ,
All Other residential Security $1M ,
Selected Postcodes - refer to lender for postcode classifications $1.5M ,
Larger Loans will be considered on their merits

Home Loan Repayment Type
Interest Only or Line of Credit ,
Funds can be accessed via internet, telephone, B-pay, cheque, over the counter, ATM, EFTPOS.

Repayment Options
Monthly repayments.

Extra Repayments
Payments can be made with no restrictions.

Split Loan Facility
Low Doc Loans may be taken in combination with each other Maximum 3 loans note a combination of Low Doc and a Non Low Doc loan is not acceptable.

Offset
Not available.

Redraw Facility
Not applicable - can draw up to maximum approved credit limit.

LVR for Low Doc Home Loan - Westpac - Equity Access Lo Doc

Owner Occupied Maximum LVR 80% ,
Investment Maximum LVR 80% ,
Construction Maximum LVR N/A ,
Refinancing Maximum LVR 80% ,
Debt consolidation Maximum LVR 80% ,
Maximum LVR 80% ,
Refer to Westpac Lenders Mortgage Insurance guidelines for Maximum Loan amounts & Security Locations ,
Please refer to 'Lender Manual' for Higher Priced Property LVR Changes
Premier Advantage Package benefits available: ,
Discounts: ,
$150k to $250k 0.30% p.a. ,
$250k to $500k 0.50% p.a. ,
$500k + 0.70% p.a. ,
Annual Package Fee $395

Fees for Low Doc Home Loan - Westpac - Equity Access Lo Doc

Establishment Fee Single $600 ($1,000 for non-residents, $355 for Pro Packs) ,
Establishment Fee Combination Loan $750 ,
Annual Package Fee $395 ,
Additional valuation fees: Independent valuers - for quote contact lender Monthly Maintenance Fee Loan $10 (nil on Pro Pack) ,
Excess Transaction Fee $2 per withdrawal in excess of 15 per month free ,
Switching Fee $300 (only to other Low Doc products within 1st 3 years) ,
Outward Dishonour Fee $40 ,
Deferred Establishment Fee $900 will only be charged if a customer closes their loan with Westpac within 4 years of origination for reasons such as re-financing to another institution, selling their property or early ,
repayment where they request to close their loan.Customers will only be charged one DEF per combination or split facility. ,
Guarantor Fee $200.