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: $2,000,000
Loan Size – Minimum: $30,000
LVR – Standard: To 80% without LMI
LVR – Restrictions: <$2m max 80% LVR
Country Loans: Yes, but case by case
Zoning: Residential
Mortgage Insurance: Not Applicable
Borrowing Entities: Individuals, companies and trusts
Loans to Trusts: Yes, but must be in name of Trustees. Plus joint and several guarantees from active trust beneficiaries
Bench Mark Qualification: 2% above Effective Interest rate
Serviceability Test: Yes, net disposable income at 1.10 times
Purpose: Purchase/Refinance Personal or Investment Any worthwhile purpose
Serviceability: Flexible assessment beyond traditional limitations – all forms of income taken into consideration
Credit History: Varied will be considered No defined limit – Case by case
Additional Repayments: Yes – no charge
Redraw: Yes
Repayments: Direct debit: weekly, fortnightly or monthly
Term: Max 30 years
P&l: Yes
Interest Only Period: Yes, for periods of 1, 3 or 5 years
Split Loans: Available
Fast Pay facility: Available
Multiple Securities: Yes
Third Party Loans: No
Construction: Yes (Case by case)
Vacant Land: Yes (Case by case)
Progress Payments: Case by case
Owner Builders: No
Portability: Yes
Settlement Fee: Nil
Solicitors Fee: $660 ($800 interstate)
Valuation Fee: As per panel scale rates
Establishment Fee: 0.95% – one off upfront fee
Progress Payment Fee: $100
Redraw Fee: Nil
Monthly Account Management Fee: Nil
Annual Membership Fee: Nil
- + Qualifying Features
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Summary: Limited Defaults and Arrears
Loan Size – Maximum: $2,000,000
Loan Size – Minimum: $30,000
LVR – Standard: To 80% without LMI
LVR – Restrictions: <$2m max 80% LVR
Country Loans: Yes, but case by case
Zoning: Residential
Mortgage Insurance: Not Applicable
Borrowing Entities: Individuals, companies and trusts
Loans to Trusts: Yes, but must be in name of Trustees. Plus joint and several guarantees from active trust beneficiaries
Bench Mark Qualification: 2% above Effective Interest rate
Serviceability Test: Yes, net disposable income at 1.10 times
- + Loan Features
-
Purpose: Purchase/Refinance Personal or Investment Any worthwhile purpose
Serviceability: Flexible assessment beyond traditional limitations – all forms of income taken into consideration
Credit History: Varied will be considered No defined limit – Case by case
Additional Repayments: Yes – no charge
Redraw: Yes
Repayments: Direct debit: weekly, fortnightly or monthly
Term: Max 30 years
P&l: Yes
Interest Only Period: Yes, for periods of 1, 3 or 5 years
Split Loans: Available
Fast Pay facility: Available
Multiple Securities: Yes
Third Party Loans: No
Construction: Yes (Case by case)
Vacant Land: Yes (Case by case)
Progress Payments: Case by case
Owner Builders: No
Portability: Yes
- + Fees & Charges
-
Settlement Fee: Nil
Solicitors Fee: $660 ($800 interstate)
Valuation Fee: As per panel scale rates
Establishment Fee: 0.95% – one off upfront fee
Progress Payment Fee: $100
Redraw Fee: Nil
Monthly Account Management Fee: Nil
Annual Membership Fee: Nil