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A variable interest only residential investment loan available as an alternative to a principal and interest arrangement.
The rate is reduced if the loan-to-value ratio (LVR) is <= 70% (see rates below). LVR is the loan-to-value ratio is the amount you are borrowing represented as a percentage of the value of the property you are buying e.g. $400,000 loan divided by $500,000 property value is 80%.
Investment, Variable, Interest Only, LVR 70% or less.
LVR 70% or less available for new business only.
Click Interest Rates below for LVR >70% loans.
Features | LVR <=70% | LVR > 70% |
Repayment Arrangement | Interest Only | Interest Only |
Minimum amount | $50,000 | $50,000 |
Maximum amount | 70% of property value. | 79% of the property value. If it's a bridging loan: 85% of property value with mortgage insurance. If it's not a bridging loan: 95% of property value with mortgage insurance. |
Loan period | Up to 30 years | Up to 30 years |
Repayment frequency | Weekly, fortnightly or monthly | Weekly, fortnightly or monthly |
Interest only available | Yes | Yes |
Additional repayments accepted | Yes | Yes |
Redraw available | Yes | Yes |
Redraw Fee | $0 | $0 |
Minimum redraw amount | No minimum | No minimum |
Offset account available | Yes | Yes |
Offset fee | $150 p.a. | $150 p.a. |
Establishment fee | $350* | $350* |
Bridging Establishment fee | $500 | $500 |
Monthly fee | $0 | $0 |
Annual fee | $150 | $150 |
Early break fee | No | No |
Loan to value ratio (LVR) | Interest rate p.a. | Comparison rate p.a. |
LVR <=70% | 6.69% p.a. | 7.10% p.a. |
LVR >70% | 6.84% p.a. | 7.25% p.a. |
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* Establishment Fee is not applicable if the loan purpose is bridging. The Bridging Establishment Fee will be applicable in that instance.