FREEDOM VARIABLE – OWNER OCCUPIED FACT SHEET
The Fixed Owner Occupied home loan is aimed at those looking to lock in their greater budgeting and predictability. The Fixed account loan comes with options to make additional repayments of up to $10,000 per year. This loan is perfect for those that do not want to worry about their loan and to spend more time with their lives.
PRODUCT OVERVIEW
| Maximum Loan Amount | Single Security: $5,000,000 |
| Minimum Loan Amount | $150,000 |
| Loan to Value Ratio (LVR) | Up to 95% |
| Loan Term | Up to 30 Years |
| Loan Options | Principal and Interest loans (P&I) and Interest Only |
| Credit History | Clear Credit History |
| Lenders Mortgage Insurance | Payable when borrowing greater than 80% Loan to Value Ratio (LVR) |
| Loan Purpose | Purchase or refinance of an owner occupied property |
| Cash Out | Limited to 20% security value and maximum of $100,000 |
| Acceptable Securities | Categories 1&2 Residential properties up to 25 acres Residential properties greater than 50sqm (excluding balcony and parking) |
| Guaranteed Rate Option | N/A |
| Split Loans | Available |
| Redraw | N/A |
| Offset | N/A |
| Repayment Frequency | Principal & Interest loans – weekly fortnightly or monthly repayments Interest Only – monthly repayments |
| Voluntary Repayments | Up to $10,000 per year above minimum repayments may be made without penalty |
| Transaction Fees | Unlimited free internet & Phone banking transactions are available on your offset account. Free Transactions for Online banking transfers, Phone Banking transfers, BPay and direct debits. |
SET UP FEES
| Application Fee | $0 |
| Valuation Fee | $0 |
| Solicitors Fee | $0 ($363 rebated) |
| Yearly Fee | $0 |
| 3rd party solicitor costs | at cost |
| 3rd party government costs | at cost |
POST SETTLEMENT FEES
| Loan Account Variation Fee | $150 |
| Loan Facility Variation Fee | $300 plus Third Party Costs* |
| Settlement Cancellation Fee | $150 |
| Manually Redraw | $25 |
| Ad Hoc Statement Fee | $15 |
| Discharge Administration Fee | $400 plus Third Party Costs* |
DESIGN AND DISTRIBUTION OBLIGATIONS (DDO)
| Target Market Determination | View |
* Third Party Costs are costs incurred by services providers external to Freedom Lend and will vary depending on the nature of the service and request. These costs are passed on directly to the applicants.
