Five Star Solve
REGISTERED 1st MORTGAGE OVER RESIDENTIAL SECURITY
Five Star Solve is a flexible loan product that allows you to restructure your debt position and work towards building a brighter financial future. It can be used for a wide range of purposes depending on your needs.
WHO WOULD IT BENEFIT?
This product is appropriate for borrowers who face roadblocks when trying to obtain finance through major lenders. We understand that you may have been through difficult circumstances and we can help you get back on track and in control of your finances.
Summary: Limited Defaults and Arrears
Loan Size – Maximum: $15,00,000
Loan Size – Minimum: $30,000
LVR – Standard: Up to 80%
Country Loans: Yes, but case by case basis
Zoning: Residential
Mortgage Insurance: Not Applicable
Borrowing Entities: Individuals, companies and trusts
Loans to Trusts: Yes, but must be in the name of the Trustees. Plus joint and several guarantees from active adult trust beneficiaries
Bench Mark Qualification: 2% above Effective Interest rate
Serviceability Test: Yes, net disposable income at 1.10 times or greater
Purpose: Purchase/Refinance/Consolidation Personal or Investment Any worthwhile purpose
Serviceability: Flexible assessment beyond traditional limitations – all forms of reasonable income taken into consideration
Credit History: Up to 2 defaults under 10K (paid defaults under 2yrs and under 5K ignored).
Additional Repayments: Yes – no charge
Redraw: Yes
Repayments: Direct debit: weekly, fortnightly or monthly
Term: Max 30 years
P&l: Yes
Interest Only Period: Up to 5 years
Split Loans: Available
Fast Pay facility: Available
Multiple Securities: Yes
Third Party Loans: No
Construction: Yes
Vacant Land: Yes
Progress Payments: Yes (Case by case)
Owner Builders: No
Portability: Yes
Settlement Fee: Nil
Solicitors Fee: From $715 (TBA interstate)
Valuation Fee: From $400
Establishment Fee: 1.10%
Progress Payment Fee: $100
Redraw Fee: Nil
Monthly Account Management Fee: Nil
Annual Membership Fee: Nil
Split Fee: $300 per split
- + Qualifying Features
-
Summary: Limited Defaults and Arrears
Loan Size – Maximum: $15,00,000
Loan Size – Minimum: $30,000
LVR – Standard: Up to 80%
Country Loans: Yes, but case by case basis
Zoning: Residential
Mortgage Insurance: Not Applicable
Borrowing Entities: Individuals, companies and trusts
Loans to Trusts: Yes, but must be in the name of the Trustees. Plus joint and several guarantees from active adult trust beneficiaries
Bench Mark Qualification: 2% above Effective Interest rate
Serviceability Test: Yes, net disposable income at 1.10 times or greater
- + Loan Features
-
Purpose: Purchase/Refinance/Consolidation Personal or Investment Any worthwhile purpose
Serviceability: Flexible assessment beyond traditional limitations – all forms of reasonable income taken into consideration
Credit History: Up to 2 defaults under 10K (paid defaults under 2yrs and under 5K ignored).
Additional Repayments: Yes – no charge
Redraw: Yes
Repayments: Direct debit: weekly, fortnightly or monthly
Term: Max 30 years
P&l: Yes
Interest Only Period: Up to 5 years
Split Loans: Available
Fast Pay facility: Available
Multiple Securities: Yes
Third Party Loans: No
Construction: Yes
Vacant Land: Yes
Progress Payments: Yes (Case by case)
Owner Builders: No
Portability: Yes
- + Fees & Charges
-
Settlement Fee: Nil
Solicitors Fee: From $715 (TBA interstate)
Valuation Fee: From $400
Establishment Fee: 1.10%
Progress Payment Fee: $100
Redraw Fee: Nil
Monthly Account Management Fee: Nil
Annual Membership Fee: Nil
Split Fee: $300 per split