Five Star Assist

5star

REGISTERED 1st MORTGAGE OVER RESIDENTIAL SECURITY

Five Star – Assist is a flexible loan product that allows you to restructure your debt position. It can be used for a variety of personal or investment purposes based on the qualifying criteria being met.

Rates from 8.49%* p.a. (comparison rate 8.73%** p.a.)

The listed rates apply to new loans only.

WHO WOULD IT BENEFIT?

This product is appropriate for borrowers who have encountered financial difficulties such as but not limited to defaults and bankruptcies. For a copy of a Key Facts Sheet for this product, please email [email protected].

Summary: Unlimited defaults and arrears

Loan Size – Maximum: $3,000,000

Loan Size – Minimum: $30,000

LVR – Standard: up to 80%

Metro & Major Regional Loans: up to 80%

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

Investment Loan Loading: +0.30%

Serviceability: Flexible assessment beyond traditional limitations – all forms of reasonable income taken into consideration

Credit History: All defaults outside Flexi

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 3 years

Interest Only Loading: 0.15%

Split Loans: Available

Fast Pay facility: Available

Multiple Securities: Yes

Discharge Fee: Regulated: $750, Non-reg: 3 months worth of interest charged in the first year, 2 months worth in the second year and 1 month interest for the third year and thereafter

Third Party Loans: No

Construction Loading: +1.50%

Vacant Land Loading: +2.00% (includes 0.30% investment loading)

Progress Payments: Yes (case by case)

Owner Builders: No

Loan Size > $1.0m>= $1.5m: +0.15%

Loan Size > $1.5m: +0.25%

Settlement Fee: Nil

Solicitors Fee: From $990

Valuation Fee: From $400

Establishment Fee: Nil

Risk Fee: 1.25% – one off upfront fee

Construction Risk Fee: +0.30%

Progress Payment Fee: $100

Redraw Fee: Nil

Annual Membership Fee: Nil

Split Fee: $300 per split

+ Qualifying Features

Summary: Unlimited defaults and arrears

Loan Size – Maximum: $3,000,000

Loan Size – Minimum: $30,000

LVR – Standard: up to 80%

Metro & Major Regional Loans: up to 80%

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

Investment Loan Loading: +0.30%

Serviceability: Flexible assessment beyond traditional limitations – all forms of reasonable income taken into consideration

Credit History: All defaults outside Flexi

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 3 years

Interest Only Loading: 0.15%

Split Loans: Available

Fast Pay facility: Available

Multiple Securities: Yes

Discharge Fee: Regulated: $750, Non-reg: 3 months worth of interest charged in the first year, 2 months worth in the second year and 1 month interest for the third year and thereafter

Third Party Loans: No

Construction Loading: +1.50%

Vacant Land Loading: +2.00% (includes 0.30% investment loading)

Progress Payments: Yes (case by case)

Owner Builders: No

Loan Size > $1.0m>= $1.5m: +0.15%

Loan Size > $1.5m: +0.25%

+ Fees & Charges

Settlement Fee: Nil

Solicitors Fee: From $990

Valuation Fee: From $400

Establishment Fee: Nil

Risk Fee: 1.25% – one off upfront fee

Construction Risk Fee: +0.30%

Progress Payment Fee: $100

Redraw Fee: Nil

Annual Membership Fee: Nil

Split Fee: $300 per split

*Subject to a maximum LVR of 65%  **Comparison Rate is based on a $500,000 loan over a 30 year loan term