Five Star – Pro is our prime product offers a low-interest rate for clean credit. It can be used for a variety of personal orinvestment purposes based on the qualifying criteria being met.
The listed rates apply to new loans only.
The Five Star – Pro seeking a fast solution to their residential property needs and have a clear credit history. For a copy of a Key Facts Sheet for this product, please email info@vicgroup.com.au.
Summary: Clear credit history
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: Qualifying criteria to be met
Credit History: Clear only
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 (not applicable for PPR)
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: No
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: Clear credit history
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: Qualifying criteria to be met
Credit History: Clear only
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 (not applicable for PPR)
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: No
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