Professional Package Home Loan - St George Bank - Lo Doc >$250K<$500K 0.60% Disc

Comparison Rate	5.97%
Amount	$200,000
Term	30 years
Monthly Payment Est.	$1,178.61
Total Amount Paid Est.	$429,510
Establishment Fee	$750.00

5.84%

Target Market
The Low Doc Home Loan is a fully featured home loan that meets the market need for customers (new and existing) who are unable to provide income documentation for the Bank to verify their income.

Acceptable Income
PAYG income is used in the serviceability assessment. This applies to combined self employed - PAYG applicants, when the PAYG applicant must meet full serviceability policy (ie income is evidence and or verified). In this case an 80% LVR will apply. The bank won’t accept applications from single PAYG applicants. Exceptions will be considered by the Bank on a case-by-case basis. Standard policy to apply except verification of income is not required. Will need to confirm employment history meets eligibility requirements, i.e.: ,
ABN & GST registration is required for 24 months. ,
Refinance other Bank- 6 months statements. ,
For other debts confirm payments are up-to-date. Borrower to provide ,
current loan statements including last months ,
Valuations to confirm any rental income (investment loans only) ,
A new Affordability Statement has been produced. This statement will cover the following as a minimum: ,
That the customer is able to repay the loan without substantial hardship, ,
Confirmation that the customer has received and completed the Affordability Self Assessment do not send with loan submission. ,
The Affordability Statement is to be signed by the customer and returned to the Bank with the Application Form. ,
Applications must be supported by Business Activity Statements (BAS) for last 12 months and last statement being no more than 4 months old at the date of application.

Home Loan Loan Term
Loan terms Maximum 30 years
Principal & Interest (repayments) 1 - 30 years
Interest based (repayments) 1 - 15 years
At the end of the Interest based term the repayments automatically change to Principal and Interest for the remainder of the contract term.
Building Loans 1- 30 Years
Available for contract builders only. No Owner Builders.

Home Loan Loan Size
Loan amounts from $50K ,
Maximum loan amount $1 million when LVR exceeds 60% ,
Maximum loan amount $1.5 million when LMI required. ,
Maximum loan exposure $3 million when no LMI required.

Home Loan Repayment Type
Principal and Interest ,
Standard 1, 3 & 5 Years Fixed Rates ,
Interest Based 1 - 15 years

Repayment Options
Monthly repayments ONLY are allowed when paying Interest based ,
Repayments. ,
Principal & Interest ,
Fortnightly repayments are one half of the minimum monthly repayment. ,
Weekly repayments are one quarter of the minimum monthly repayment. ,
These weekly/fortnightly repayments are rounded up to the nearest dollar. ,
Progressive drawdown period repayments ,
During the construction period (until loan is fully drawn down) we currently accept repayments, which are equal to interest charged ,
for that period. At the end of the construction period, repayments will revert to one of either P&I or Interest based.

Extra Repayments
Permitted without penalties on variable rate loans. Max $10,000 per year during the fixed rate term. ,
Principal Reductions Borrowers may nominate to pay extra payments ,
Break costs may be charged if customers repay any amount over $10,000 early in any 12-month period.

Split Loan Facility
Splits are only available within the Low Doc product set (i.e.. Low Doc Variable and Low Doc Fixed).

Offset
As per product specifications - Interest offset facility available to help reduce the interest charged while still having access to funds at call. 100% offset (Mortgage Equaliser) only available on variable rate.

Redraw Facility
Available on variable rate only nil minimum redraw amount and a redraw fee applies to each approved request. ,
Note redraw isn't available until the next payment due date after settlement. ,
With most of our products (excluding Portfolio Loan / line of credit) funds paid into the loan are not available when they have been deposited, until the next payment date. The system holds the deposit until the payment due date and then shows the additional funds (over and above the repayment due) as available redraw. Redraw is not automatic on a loan and clients may need to apply for a redraw facility to be active on their loan. ,
When a St George loan settles, the surplus funds are usually deposited into a nominated St George Bank account on date of settlement. This needs to be specified in the disbursement form which the client receives with the loan documentation.

LVR for Professional Package Home Loan - St George Bank - Lo Doc >$250K<$500K 0.60% Disc

Owner Occupied Maximum LVR 80% ,
Investment Maximum LVR 80% ,
Construction Maximum LVR 80% - Construction N/A for Fixed ,
Refinancing Maximum LVR 80% ,
Maximum LVR 80% for Self Employed ,
Maximum LVR of 70% for PAYG ,
Maximum LVR for Non Resident 60% ,
Maximum LVR for Vacant Land 60% case by case bases. ,
FASTRefi® is a process that allows settlement for refinancing of residential loans to be completed within days of the customer signing the loan documents. For more information on this service contact your broker support centre Mortgage Central on 1300 137 532.

Fees for Professional Package Home Loan - St George Bank - Lo Doc >$250K<$500K 0.60% Disc

Establishment Fee $750 ,
Administration Fee $12 per month ,
Additional security fee $100 ,
Redraw Fee Electronic $10 ,
Manual $25 ,
Increase Fee $500 ,
Switch Fee to Portfolio $500 ,
Consent to Subdivision $350 ,
Progress Payment Administration Fee $250 ,
Substitution of Security $350 ,
Renegotiation $500 ,
Discharge of Mortgage Fee $500 ,
Discharge Settlement Processing Fee $100 ,
Arrears Letter Fee $50 ,
Settlement/Lodgement Fee:$ 100 per loan (Fee displayed as Mortgage Preparation ) ,
Switching Fee $500 ,
Split Fee $150 ,
Refer to Fee Guide in Lender Manual Folder for full list of the fees.