Low Doc Home Loan - HomeSide Lending - Plain & Simple Lo Doc

Comparison Rate	5.87%
Amount	$200,000
Term	30 years
Monthly Payment Est.	$1,177.33
Total Amount Paid Est.	$424,320
Establishment Fee	$600.00

5.83%

Target Market
The plain and simple is a basic "No frills" variable rate home loan available for the purchase of owner occupied or residential investment purposes. ,
NOTE: The Interest Only term must be selected on the loan application ,
(in section 6 - Loan Type Required) and will apply from drawdown of the loan.

Acceptable Income
Individual self-employed borrowers who are Australian Citizens/Permanent Residents. Active ABN for minimum of two years. GST Registration for at least 12 months. . ,
Available to PAYG borrowers as co-applicants only (PAYG borrowers are subject to normal income verification). ,
At least 1 borrower must be self employed ,
Documentation required ,
The self-employed borrower must provide a signed Customer Declaration Form (CDF) confirming customer income, length of employment and ability to service the loan together with an ABN held for a minimum of 2 years. ,
6 months loan statements from current or recently held (within the last 12 months) home loans must be provided for each applicant to the loan. The statements must demonstrate the customer’s ability to satisfactorily service an existing or recent home loan.

Home Loan Loan Term
Minimum: 8 years
Maximum: 30 years

Home Loan Loan Size
Minimum $50K ,
LVR < 60% ,
Maximum loan amount of $2.5 M ,
Maximum aggregate lending of $2.5 M ,
LVR > 60% and < 80% ,
Maximum loan amount of $1M ,
Maximum aggregate lending of $2.5M ,
Limited to $600K for Line Of Credit

Home Loan Repayment Type
Principal & Interest ,
First 5 years Interest only option - Monthly repayments only

Repayment Options
Weekly Fortnightly or Monthly

Extra Repayments
Lump sum payments are permitted

Split Loan Facility
Yes

Offset

Redraw Facility
Fee Free Redraw & Internet access available

LVR for Low Doc Home Loan - HomeSide Lending - Plain & Simple Lo Doc

Owner Occupied Maximum LVR 80% ,
Investment Maximum LVR 80% ,
Refinance Maximum LVR 80% (OO only). Cannot refinance from another lender. ,
Vacant Land Maximum LVR 80% maximum loan $1M ,
Effective 1st May 2009, Broker Star Rating applies - 0 & 1 Star Brokers are not able to submit new business.

Fees for Low Doc Home Loan - HomeSide Lending - Plain & Simple Lo Doc

Application Fee - $300 ,
$300 Lo Doc Fee which will be incorporated under the one heading of Application Fee. ,
The $300 Application Fee is waived in the following instances for loans with 90% LVR or less: ,
NSW, QLD, VIC, WA & ACT >$300K ,
SA, TAS & NT >$200K ,
Loan Service Fee: Nil ,
Legal Services Fee $162.50 ,
Variation fee $300 Variation of Loan Contract ,
Additional Security $150per security after the first one ,
Packaging Fee $100 per mortgage account/loan product after the first one ,
Security Discharge Fee $300 ,
Loan Modification Fee $200 where loan is switched from interest only to Principal & interest prior to the end of 5 years Interest Only period ,
Early Exit Fee of $1200 does not reduce over time and is payable if the loan is refinanced or repaid in full within 4 years of the settlement date