Low Doc Home Loan - BMC - Low Doc PAYG

Comparison Rate	6.78%
Amount	$200,000
Term	30 years
Monthly Payment Est.	$1,295.87
Total Amount Paid Est.	$467,310
Establishment Fee	$750.00

6.74%

Target Market
Applicants who have been self employed for greater than two years.

Acceptable Income
Self Employed via income declaration. ,
Applicants must sign an income declaration that they are able to afford the loan without hardship. ,
Details of borrower’s financial position including income, expenses, assets and liabilities are to be provided and signed by all applicants.

Home Loan Loan Term
Terms of 10, 15, 20, 25 or 30 years available.
May fix for terms of 2, 3, 4, 5, 7 or 10 years.
At the end of the fixed term the borrower may refix at no cost or accept the then variable rate offered.
Interest Only loans are available for the first 10 years only and the fixed rate period must match the Interest Only period.

Home Loan Loan Size
Minimum Loan Amount:$50K ,
Maximum Loan Amount $1M .(Loans up to $2M maybe considered if <60%LVR.) ,
Maximum Exposure Per Client $2.5M

Home Loan Repayment Type
Principal and Interest. ,
Interest Only.

Repayment Options
Monthly or fortnightly or weekly. ,
Interest Only Monthly.

Extra Repayments
Variable Additional repayments may be made at any time without incurring an early repayment charge. ,
Fixed Up to $10K in any 12 month period over and above normal repayments without incurring an early repayment charge. ,
Borrower may specify whether additional payments are applied as a permanent principal Reduction whereby minimum payments are recalculated.

Split Loan Facility
Yes.

Offset
Not applicable.

Redraw Facility
Surplus funds can be redrawn (minimum of $2,500) ,
No minimum via Origin Internet or Telephone Banking. ,
No fee is applicable.

LVR for Low Doc Home Loan - BMC - Low Doc PAYG

Owner Occupier Maximum LVR 60% ,
Vacant Land Maximum LVR 60% ,
Investment Construction Maximum LVR 60% ,
Security to be held in metro areas of Sydney, Brisbane, Melbourne, Perth or Adelaide or major regional centres in NSW, QLD, VIC WA or SA. ,
Registered first mortgage. ,
A collateral second mortgage can be taken where the lender holds a first mortgage over the prime security. ,
Second mortgages are only acceptable as collateral security. ,
PMI Post Code list applies for acceptable security locations refer to CRS/Documents LMI folder PMI Location Guide ,
Maximum LVR ,
Standard Residential Property 80% LVR ,
Other acceptable non residential standard property subject to valuation ,
Multiple dwellings on one title 80% LVR (Max 4) ,
Luxury residential 60% LVR ,
Rural Residential housing (<10 hectares or <25 acres) 80% LVR ,
Vacant Land 60% % LVR ,
Valuation:Required on all security properties.

Fees for Low Doc Home Loan - BMC - Low Doc PAYG

Establishment Fee $750.00 ,
This fee includes the base legal fee and one valuation fee. ,
If there is more than one property to be valued a fee of $220 per additional property will be payable. (NB. If the property value exceeds $300K a quote should be obtained for the valuation cost.) ,
Early Repayment Fee - postponed lender’s establishment fee applies if the loan is repaid in full during the first 5 years of the loan. The fee is 1.25% of the original loan amount years 1-3, year 4 is 0.50% and year 5 is 0.25% ,
Account Keeping Fee No ongoing monthly fees.