Printer friendly versionThis loan is available on the following products:
Choose from Interest only, Principal and Interest OR Line Of Credit
Maximum loan amount $1,000,000 at a loan to value ratio under 80% (or $2,000,000
at 60% LVR) for residential property or $550,000 at 80% for vacant land.
No Doc Loan (no income declaration required) available to 70% LVR and $750,000.
Post code restriction apply.
See individual product specification.
As per individual product specifications
Access available through phone or internet 24 hours a day, 7 days a week as per individual product specifications
Self employed applicants who have held a registered ABN or ACN for at least 2 years or PAYG applicants who have been employed for a minimum of 6 months or 2 years in same field:
- Maximum loan to security value ratio 80% (for $1.0 million).
- Maximum loan amount $2,000,000 at 60%
- For personal, business or investment purposes
For applicants who have been self employed for less than 2 years with a valid ABN who do not want to provide a statement of assets and liabilities:
- Maximum loan to security value ratio 65%
- Maximum loan amount $800 000
- For personal, business or investment purposes
A registered first mortgage on residential property is required with maximum loan to value ratio of 80%.
Postcode restrictions apply but generally security must be in capital cities or major regional centres.
As per individual product specifications
The maximum loan term is 30 years.
As per individual product specifications
Any loan may be transferred to another acceptable residential property, saving on loan stamp duty.
Mortgage documentation, legal fees and valuation charges still apply. Transfers are subject to insurance and lenders approval
Borrowers generally pay a higher interest rate then a standard loan except for Access Low Doc Saver 60 and Ready Access Low Doc Saver 60 which are at standard loan interest rates for LVR's below 60%.
The interest rate margin above a standard loan may be reducing (see below) or fixed (Discount Lite Doc and Elite Variable).
The interest rate on a loan with a reducing margin is reduced to the loan's standard rate at the discretion of Mortgage House of Australia subject to the loan being conducted in a satisfactory manner, including payment of any amount payable under the loan contract by its due date.
The interest rate reductions are available for:
- Home Loan Plus
- Equity Gold
- Bullet All In One
- Professional Plus
- Combo Freedom
- Access
- Ready Access
through the elimination of the additional margin after 2 years.
For Low Doc interest rates on these products and for more info click here.
All applications for credit are subject to Mortgage House Of Australia Pty Ltd normal credit approval criteria. Full terms and conditions are set out in the loan contracts. Terms & conditions, including fees & charges may be varied or introduced in the future. Fees & charges are payable.
