Five Star Flexi: Investment
REGISTERED 1st MORTGAGE OVER RESIDENTIAL SECURITY
Five Star Flexi is a flexible lending solution that is often attractive to Small Business Owners. It can be used for a variety of purposes including succession planning, debt consolidation, equity injections, business purchase, property purchase or improvement and more.
WHO WOULD IT BENEFIT?
This is our most popular product and suits borrowers who have been frustrated or misunderstood by major lenders, but who we have determined to be low risk. Our flexible assessment criteria allows us to take into account your individual situation and gives you an alternative avenue to obtain the funding solution you need.
Summary: Arrears and minor non financial defaults
Loan Size – Maximum: $1,500,000
Loan Size – Minimum: $30,000
LVR – Standard: Up to 80%
LVR – Restrictions: <$1.5m max 80% LVR
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 name of 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: Defaults under $1k
Additional Repayments: Yes – no charge
Redraw: Yes
Repayments: Direct debit: weekly, fortnightly or monthly
Term: Max 30 years
P&l: Yes
Interest Only Period: Currently Unavailable
Split Loans: Available
Fast Pay facility: Available
Multiple Securities: Yes
Early Repayment: Non-reg 3,2,1
Third Party Loans: No
Construction: Currently Unavailable
Vacant Land: Currently Unavailable
Progress Payments: Yes(case by case)
Owner Builders: No
Portability: Yes
Settlement Fee: Nil
Solicitors Fee: From $715 (Interstate TBA)
Valuation Fee: From $400
Establishment Fee: 0.85% – one off upfront fee
Progress Payment Fee: $100
Redraw Fee: Nil
Monthly Account Management Fee: Nil
Annual Membership Fee: Nil
- + Qualifying Features
-
Summary: Arrears and minor non financial defaults
Loan Size – Maximum: $1,500,000
Loan Size – Minimum: $30,000
LVR – Standard: Up to 80%
LVR – Restrictions: <$1.5m max 80% LVR
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 name of 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: Defaults under $1k
Additional Repayments: Yes – no charge
Redraw: Yes
Repayments: Direct debit: weekly, fortnightly or monthly
Term: Max 30 years
P&l: Yes
Interest Only Period: Currently Unavailable
Split Loans: Available
Fast Pay facility: Available
Multiple Securities: Yes
Early Repayment: Non-reg 3,2,1
Third Party Loans: No
Construction: Currently Unavailable
Vacant Land: Currently Unavailable
Progress Payments: Yes(case by case)
Owner Builders: No
Portability: Yes
- + Fees & Charges
-
Settlement Fee: Nil
Solicitors Fee: From $715 (Interstate TBA)
Valuation Fee: From $400
Establishment Fee: 0.85% – one off upfront fee
Progress Payment Fee: $100
Redraw Fee: Nil
Monthly Account Management Fee: Nil
Annual Membership Fee: Nil