Flexible Home Loan - Rate Star Home Loans

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Rate Star Flexible Home Loan

Available for: Owner occupied or investment property purchases, construction, refinancing existing residential or investment or business loans. For further information click here

Loan Size: From $150,000 to $2,500,000 per security property

Term: Up to 30 Years

Repayments: Principal and Interest or Interest Only for 2, 3, 5 or 10 years and Line of Credit 15 years

Frequency: Weekly, fortnightly or monthly. Extra repayments can be made on variable loans at any time

Convert to fixed rate: All or part of the loan can be converted to a fixed rate at any time at no cost (subject to maximum of 4 a/c)

Split Loan Facility: Up to 4 separate splits per facility. Transfer funds between splits using Inter Account Payment facility

Re-draw facility: Unlimited re-draw at no cost. Minimum re-draw $50 when using Loan Service Line or Loan Service Net for all variable rate loans

Pay Anyone: Payment can be made to any bank, building society or credit union directly from your loan using a valid BSB and account number (excludes credit cards). Max $5000 per day. Not available during a fixed rate period.

Maximum Loan to Valuation Ratio

97% for owner occupied loans up to $500,000 (conditions apply)
95% for owner occupied loans up to $650,000 (conditions apply)
95% for investment loans up to $650,000 (conditions apply)
90% for all loans up to $750,000 (conditions apply)
85% for all loans up to $1 million

Other Conditions:

All repayments need to be made by electronic direct debit or direct salary credit
A lenders mortgage insurance premium is payable by the borrower if the amount borrowed is greater than 80% of the value of the property.
Break costs will apply to fixed rate loans if the fixed rate period is broken.
A 1st registered mortgage over residential property required as security on all loans