Finance Details

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Lender NameAdelaide Bank
Loan nameSmartDoc 1 Year Fixed (Investment)
Initial %5.27%
Ongoing %5.75%
Max Term Fixed Rate1
Max Term Interest Only10
Interest Type (Initial)Fixed
Interest Type (Ongoing)Standard Variable
Repayment FrequencyFortnightly,Monthly,Weekly
Repayment Type (Initial)P&I or I/O
Repayment Type (After Initial)Principal and Interest
Additional Loan Splits Allowed9999
FinancialsLow Doc
Non ConformingNo
Product Type: CommercialNo
Product Type: Owner OccupiedNo
Product Type: InvestmentYes
Product Type: EquityYes
Product Type: ConstructionNo
Product Type: Vacant LandNo
Product Type: Line of CreditNo
Product Type: ReverseNo
Product Type: BridgingYes
NotesAs part of the SmartSuite product range, SmartDoc (including SmartDoc Plus) provides an alternative option for self-employed, and in some cases, PAYG borrowers. A SmartDoc loan requires customers to sign an income declaration and accountant?s verification form, in lieu of providing proof of income. SmartDoc offers the flexibility of redraw, choice of repayment frequency and additional repayments are accepted at any time (limits apply to fixed rate loans). Standard residential loan purposes such as: - purchase or refinance an owner-occupied or investment property - debt consolidation - equity loans for investment or personal purposes - Go-Between Restrictions may apply dependant upon LVR and LMI provider. Refer to Lending Policy Guidelines section for further details. LMI (Lenders mortgage insurance): All applications where the loan LVR is above 70% to have LMI cover. Customers with LVR above 60% and up to 70% have the option of either taking out LMI or selecting SmartDoc Plus product. No cash out available. Repayments: Monthly repayments must be debited from the offset balance. Principal and Interest: Principal and interest repayments are required during full term of the loan. Interest Only: Between 2 and 10 years interest only, converting to principal and interest for the remainder of the loan term. At the end of the initial interest only period a further interest only period may be negotiated with a full reassessment in line with Lending Policy. A loan variation fee may apply. Voluntary repayments: Variable rate - Additional repayments may be made at any time without penalty. Fixed rate ? Maximum of $20,000 per annum in excess of normal repayments is permitted, after which break costs may apply. Credit increases: Available when on a SmartDoc variable rate. Minimum credit increase amount $10,000. (Not available for SmartDoc Plus loans) Note: Not available during a fixed rate or Go-Between period. Redraw facility: Available, minimum redraw of $500. Rate Conversion: The borrower can apply to convert their loan to the Variable SmartFit rate, provided they are able to supply acceptable evidence of income that is within 10% of their original declaration of financial position. A loan variation fee will apply. Convert from the Variable SmartDoc rate to a SmartDoc Fixed term at any time. A loan variation fee will apply. Application restrictions: - no construction - no land Applicant Type: - no company applicants - no trust applicants - no overseas applicants - no non-permanent Australian resident applicants Transaction fees: Transact on available funds in offset balance. After a monthly allocation of $10 in each statement period, $2.00 per transaction for each: Over the counter (in branch) withdrawals or transfers, BankPost withdrawal and EFTPOS withdrawal. Fee FREE: Bpay, Bendigo Bank ATM balance enquiry or withdrawal, Bendigo Bank ATM transfer, Express Line, Online Banking, direct credits and direct debits. The balance of any unused allocation
ERP Notes
BC NotesFixed rate break costs - economic loss adjustment applies.
OF Notes$15 per month charged to the loan in arrears (on the anniversary of the loan).
Other Fee NotesLoan Variation Fee: $200 (refer to fees for further detail); Split Loan Fee: $100 per split; Search Processing Fee: $50 per search. Additional documentation fee $200 (consolidation of
Max LVR80.00%
Capitalise LMIYes
LVR NotesMaximum loan amount is subject to LMI provider, LVR, employment status, security location, single or multiple securities. LMI is required where LVR >60%. LMI cannot be c
Genuine SavingsYes
Genuine Savings NotesIf LMI is required on Lo Doc, Adelaide Bank will require 20% genuine savings on a purchase. With a refinance the equity will be within the home.
Min Loan$10,000.00
Max Loan$2,000,000.00
Min Term5
Max Term30
Est Fee$0.00
App Fee$375.00
Val Fee$0.00
Legal Fee$0.00
S/m Fee$120.00
Upfront Fee$495.00
Ongoing Monthly Fee$15.00
Ongoing Annual Fee$0.00
Exit Fee$325.00
Fixed Fee$0.00
Other Fee$0.00
Internet BankingYes
Credit CardNo
BPay OptionYes
Professional PackNo
Cheque AccountNo
Intro RateNo
Telephone BankingYes
Direct Salary CreditYes
Portability of LoanYes
Redraw AvailableYes
Offset Account100%
Min Redraw$500.00
Free Transactions per Month9999
Loan Redraw Fee$0.00
Lender Category Second Tier Bank