Vacant Land Full & Lo Doc
Overview
Advantage for 1st home buyers and investors to utilize this facility for purchase, refinance, debit consolidation and construction being residential and investment. LMI postcode restrictions apply to both loan size and LVR. Only one land security per loan is available Land is acceptable as additional security Vacant Land Loans are not available for property developers i.e. multiple block purchases in one of more sub-divisions. Available for both regulated and non-regulated purposes. LMI postcode restrictions apply to both loan size and LVR. Land must not be zoned rural Maximum land size of 2.2 hectares (5 acres) Security must be fully serviced i.e. water, electricity, sewer Security cannot be income producing FHOG is not available.
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Target
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Individuals (PAYG or self-employed), Companies, Partnerships or Trusts
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Loan Purpose
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Loans considered for direct purchase, refinance, debit consolidation and construction being residential and investment.
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Loan Features
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Split Loans available up to four (4) accounts to a minimum of 10K
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Loan Products
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All facility included line of credit
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Minimum Loan Size
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$50k (Subject to the loan scenario and to the LVR) Double security
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Maximum Loan size
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$600,000(Subject to the loan scenario and to the LVR) Single security
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Loan to Value Ratio
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90% Prime Loans Full Docs
80% Prime Lo Docs |
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Minimum Loan Terms
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Interest only from 1year
Fixed Interest from 1 yrs |
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Maximum Loan Terms
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Interest only from 1year to 15 years and (P&I thereafter) to 40 yrs
Fixed Rates from 1year to 15 years and (P&I thereafter) to 40 yrs |
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Loan Repayment Frequency
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Weekly, twice monthly or monthly, day and date can be nominated
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Security Type
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Residential vacant land and rural residential being occupier \ investment
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Redraw Available
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yes
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Split Loan Available
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yes
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Dynamic Repayment
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yes
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Additional Repayment
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Principal reductions accepted with minimum of $5,000 each time on the principal part if any
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Loan statements
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Issued Half Yearly (But you can ask us when required we will mail them to you charges apply).
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Documentation Required
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Subject to the loan purpose, please call 1300 790 909 for more details
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Financial Information
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Borrowers who can demonstrate means of serviceability
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Qualifying Interest Rate
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Please call our consultant on 1300 790 909 for more details
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Other Conditions
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A. Prime loans Borrowers must demonstrate serviceability with up to date detailed financial statements covering last 12 months + 4 pay slips for (Full doc Loans)
B. Lo Doc Borrowers must be self employed or an Investor , has an ABN number and registered for GST and in business for the past 2 years |
