Finance Details

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Lender NameHeritage Bank
Loan name1 Year Fixed Rate (Investment)
Initial %4.19%
Ongoing %5.69%
Max Term Fixed Rate1
Max Term Interest Only5
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 Allowed10
FinancialsFull Doc
Non ConformingNo
Product Type: CommercialNo
Product Type: Owner OccupiedNo
Product Type: InvestmentYes
Product Type: EquityNo
Product Type: ConstructionYes
Product Type: Vacant LandYes
Product Type: Line of CreditNo
Product Type: ReverseNo
Product Type: BridgingNo
Notes$0 Application Fee Offer until 30 April 2017. - For new Standard Variable, Discount Variable & Fixed Rate loan applications applied for between 1 March 2017 - 30 April 2017 and disbursed by 31 October 2017. - Offer not valid for further advances , living equity or line of credit loans, bridging loans, business loans, existing customers switching loans, internal refinances, or borrowing for alterations and additions. Conditions, criteria and fees apply. Heritage restricts mortgage loan applications with a Loan to Valuation Ratio (LVR) to a maximum of 95% (inclusive of mortgage insurance premium) to the following: - First Home Owner Buyers - Owner-occupied construction loans - Units with the following exceptions - High density apartments (max LVR 80%) - Investment (max LVR 90%) - Inner city high-density apartments (max LVR 70%). Interest Only available for Investment Loans Only. Construction: Construction & Land/Construction loans, the repayment is Interest Only up to the final draw. Progressive Valuation (x2): $137.50 per inspection, plus mileage if applicable, will apply for each progress valuation inspection. The fee may vary depending on location of property - state by state. Please note that this is an approximate amount only. If the inspection fee is higher than the stated amount then the available loan funds will be reduced accordingly. Normal requirement is for two progress inspections at frame and completion stages. Where a valuation is required and only one property is offered as security Heritage will pay for the valuation. If two or more securities are involved, or valuation costs exceed $330 (inclusive of GST), the difference is to be borne by the borrower. Rate Lock available - 0.12% of the basic loan amount (excluding funded application fee and LMI premium) and is payable upfront prior to loan being approved. Rate guaranteed for 90 days from acknowledgement form being signed. Agents Settlement Fee ranges from $0 - $260 (per settlement) depending on the State. Verification Requirements Confirmation that repayments are up-to-date, together with documentary evidence of satisfactory conduct, is to be provided as set below. Facilities Being Refinanced: If Under 80% (not mortgage insured) ? Applicants are to provide the latest 6 months loan statements for home loans If Over 80% (mortgage insured) ? 6 Consecutive months, including the month immediately proceeding the month of the application for LMI. Facilities Not Being Refinanced: If Under 80% (not mortgage insured) ? Applicants to provide the latest loan statements to evidence current repayments amounts, interest rate and good conduct If Over 80% (mortgage insured) ? Applicants to provide the latest loan statements to evidence current repayment amount, interest rate and good conduct.
ERP Notes
BC NotesEconomic costs
OF Notes$8 Monthly
Other Fee NotesAgents Settlement fee ranges from $0-$260 (per settlement), depending on state. Where Heritage engages an agent acting on its behalf, the Agents Settlement Fee will be passed on to th
Max LVR90.00%
Capitalise LMIYes
LVR NotesMaximum LVR 90%. Eligibility criteria for non-residents and permanent residency via holders living in Australia: - Australian citizen who is non-resident now has a maximum
Genuine SavingsYes
Genuine Savings NotesApplicants with 20% or more equity only need to provide evidence of the existence of that deposit and don't need to demonstrate a 5% genuine saving history, nor provide details of the deposit history but must show propensity to meet repayments. Applicants with less than 20% deposit required to provide evidence of the 5% genuine savings.
Min Loan$20,000.00
Max Loan$99,999,999.00
Min Term1
Max Term30
Est Fee$0.00
App Fee$0.00
Val Fee$0.00
Legal Fee$0.00
S/m Fee$150.00
Upfront Fee$150.00
Ongoing Monthly Fee$8.00
Ongoing Annual Fee$0.00
Exit Fee$250.00
Fixed Fee$450.00
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 AccountPartial
Min Redraw$0.00
Free Transactions per Month0
Loan Redraw Fee$20.00
Lender Category Second Tier Bank