FREEDOM VARIABLE – INVESTMENTS FACT SHEET
The Variable home loan is aimed at those looking for greater flexibility with their loan. The Variable account comes with a 100% offset account which allows for additional lump sum payments and higher loan repayments. This loan is perfect for those looking for greater flexibility within their lives.
PRODUCT OVERVIEW
| Maximum Loan Amount | Single Security: $2,000,000 |
| Loan to Value Ratio (LVR) | Up to 90% |
| 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 investment property |
| Cash Out | Up to 80% Loan to Value Ratio (LVR) |
| Equity | 5% genuine savings |
| Acceptable Securities | Categories 1&2 Residential properties up to 25 acres Residential properties greater than 50sqm (excluding balcony and parking) |
| Split Loans | Available. Up to 4 splits |
| Redraw | Available |
| Offset | Available |
| Repayment Frequency | Weekly, fortnightly or monthly repayments |
| Voluntary Repayments | Extra repayments may be made at any time 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 | $385 |
| Valuation Fee | $154 or at cost |
| Solicitors Fee | $330 or at cost |
| Yearly Fee | $0 |
| 3rd party solicitor costs | at cost |
| 3rd party government costs | at cost |
POST SETTLEMENT FEES
| Loan Account Variation Fee | $250 |
| Loan Facility Variation Fee | $450 plus Third Party Costs* |
| Settlement Cancellation Fee | $330 |
| Manually Redraw | $25 |
| Ad Hoc Statement Fee | $15 |
| Discharge Administration Fee | $795 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.
