Five Star – Flexi is a near-prime product offering flexible lending solutions for paid or unpaid defaults. It can be used for a variety of personal or investment purposes based on the qualifying criteria being met.
The listed rates apply to new loans only.
This is our most popular product and suits borrowers who are individuals, self-employed or small business owners. For a copy of a Key Facts Sheet for this product, please email [email protected].
Summary: Arrears and minor non-financial defaults
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: No more than 2 | Paid defaults ≤ $10k | Unpaid defaults ≤ $5k | Discharged Bankrupts considered
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: 0.70% – 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
Summary: Arrears and minor non-financial defaults
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: No more than 2 | Paid defaults ≤ $10k | Unpaid defaults ≤ $5k | Discharged Bankrupts considered
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: 0.70% – 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