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Construction
Loan |
Suitable not
only for the construction of new homes,
but also for major renovations to an
existing home. Whilst a standard home
loan necessitates a lump sum payment at
agreement signoff, construction loans
are usually drawn down in stages.
Interest only draws on construction then
Reverts to a Standard
Variable Rate on completion. This loan
offer you maximum flexibility and great
features, including the option to fix or
split your loan, the ability to make
additional repayments when you want.
The wrong home
loan could cost you a fortune – so it’s
crucial to find the one that’s right for
you.
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Applicant type
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Individuals, Companies,
Trusts. |
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Employment
requirements |
P.A.Y.G. must be
full-time or part-time permanent. If
Self-Employed, two years. |
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Income: required
proofs |
P.A.Y.G. Pay slips,
group certificates or employer letter.
Self-employed, two years tax returns.
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Loan amounts minimum
& maximum |
$100k to $2 mil
90% LVR up to $750,000 |
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Purpose
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Owner-Occupied
to 95% LVR or
Investment to 90% LVR |
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LVR
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Up to
95% LVR (owner occupied) |
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Coded, non-coded, or
either |
Either |
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Credit related
issues |
CLEAR. |
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Variable, fixed or
both |
Both |
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P&I, I/O, or both
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Both, but if
I / O during construction reverts to standard variable |
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Residency Status
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Citizens and permanent
residents |
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Comments, special
conditions |
Non Genuine
Savings Option below 90% LVR |
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Important Information:
Some email
filters will send form confirmation
links directly to your junk mail box. If
you can not find a reply confirmation in
your inbox please check in your junk
mail. |
If
you wish to proceed, then we will help
you to complete all the necessary
paperwork and liaise with the lender on
your behalf. This will include the
completion and submission of your home
loan application and the on-going
communication between all parties until
your home purchase is settled
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