Feature | Sydney Pro Pack | Sydney Plus | Sydney Plus Fixed Rates | Sydney Low Doc | Sydney Low Doc Fixed Rates |
Purpose | Owner occupied or investment | Owner occupied or investment | Investment purposes only | Investment purposes only | Investment purposes only |
Interest Rate | 8.70% pa | 8.70%pa | 9.15%pa | 9.25%pa | 9.45%pa |
Comparison Rate* | 8.72%pa | 8.72%pa | 9.17%pa | 9.27%pa | 9.47%pa |
Application Fee | NIL | $600 | $300-00 | $600-00 | $600-00 |
Valuation Fee | $250 (for one standard security property) | $250 (for one standard security property) | $250 (for one standard security property) | $250 (for one standard security property) | $250 (for one standard security property) |
Lenders Legal professional fee‚ (not including settlement disbursements) | $365 (for one standard security property) plus $80 settlement fee. | $365 (for one standard security property)plus $80 settlement fee. | $365 (for one standard security property) plus $80 settlement fee. | $365 (for one standard security property) plus $80 settlement fee. | $365 (for one standard security property) plus $80 settlement fee. |
Other Settlement Costs | Gov't fees, registration of mortgage and settlement disbursements and additional costs for trust or company borrowers‚ are paid by the borrower. | Gov't fees, registration of mortgage and settlement disbursements and additional costs for trust or company borrowers‚ are paid by the borrower. | Gov't fees, registration of mortgage and settlement disbursements No Trusts or Company borrowing allowed with this product. | Gov't fees, registration of mortgage and settlement disbursements No Trusts or Company borrowing allowed with this product. | Gov't fees, registration of mortgage and settlement disbursements No Trusts or Company borrowing allowed with this product. |
Minimum Loan Amount | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 |
Max Loan Amount | $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 |
Max LVR (Loan to Value Ratio) | 95% | 95% | 80% | 80% | 80% |
Lenders Mortgage Insurance | Payable on all loans regardless of LVR For loans less than 80% the fee is: $220 for loans under $300,000 and $440 for loans between $300 -$500,000. Loans over $500,000 and /or over 80% LVR - LMI fee to be quoted | Payable for loans that are over $500,000 or over 80% LVR - consultant will quote premium | Payable on all loans - consultant will quote premium | Payable on all loans - consultant will quote premium | Payable on all loans - consultant will quote premium |
Monthly or Annual fee | $330 | Nil | Nil | Nil | Nil |
Redraw | Yes, min redraw $2,000 at a cost of $25 per redraw | Yes, no minimum and no cost. Not available for fixed rates or on I/O payments | Yes, no minimum and no cost. Not available for fixed rates or on I/O payments | Yes, no minimum and no cost. Not available for fixed rates or on I/O payments | Yes, no minimum and no cost. Not available for fixed rates or on I/O payments |
Split Loan Available | No | Up to 3 splits available, no cost | Up to 3 splits available, no cost | Up to 3 splits available, no cost | Up to 3 splits available, no cost |
Offset Account | No | No | No | No | No |
Internet Account | YES | YES | YES | YES | YES |
Telephone Banking | YES | YES | YES | YES | YES |
Fixed Rates | YES | YES | YES | YES | YES |
Fee to Fix Rate Lock | YES | YES | No | No | No |
Construction | Yes - additional cost for progress valuations | Yes -additional cost for progress valuations | No | No | No |
Repayment Frequency | Monthly, Fortnightly or weekly | Monthly, Fortnightly or weekly | Monthly, Fortnightly or weekly | Monthly, Fortnightly or weekly | Monthly, Fortnightly or weekly |
Extra Repayments | Yes | Yes, unlimited on variable rate, up to 20% on fixed rates | Yes, unlimited on variable rate, up to 20% on fixed rates | Yes, unlimited on variable rate, up to 20% on fixed rates | Yes, unlimited on variable rate, up to 20% on fixed rates |
Early Repayment Fee | .3% in first five years | 0.6% in first five years | 0.6% in first five years | 1% in first five years | 1% in first five years |