Five Star Pro
REGISTERED 1st MORTGAGE OVER RESIDENTIAL SECURITY
Five Star – Pro is our prime product that is most aligned to the major lenders. It can be used for a variety of personal/investment and residential purposes on the basis that the qualifying criteria is met.
Rates from 3.20% p.a. (comparison rate 3.26%* p.a.)
WHO WOULD IT BENEFIT?
The Five Star – Pro solution suits borrowers who are frustrated by the major lenders with the time it takes to assess and approve their loans even after they have been determined to be a low-risk customer with a clean 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: $2,000,000
Loan Size – Minimum: $30,000
LVR – Standard: Up to 80%
Country 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
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 Surcharge: 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: Yes
Vacant Land: No
Progress Payments: Yes (case by case)
Owner Builders: No
Portability: Yes
Settlement Fee: Nil
Solicitors Fee: From $880
Valuation Fee: From $400
Establishment Fee: 0.40% – one off upfront fee
Progress Payment Fee: $100
Redraw Fee: Nil
Monthly Account Management Fee: Nil
Annual Membership Fee: Nil
Split Fee: $300 per split
- + Qualifying Features
-
Summary: Clear credit history
Loan Size – Maximum: $2,000,000
Loan Size – Minimum: $30,000
LVR – Standard: Up to 80%
Country 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
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 Surcharge: 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: Yes
Vacant Land: No
Progress Payments: Yes (case by case)
Owner Builders: No
Portability: Yes
- + Fees & Charges
-
Settlement Fee: Nil
Solicitors Fee: From $880
Valuation Fee: From $400
Establishment Fee: 0.40% – one off upfront fee
Progress Payment Fee: $100
Redraw Fee: Nil
Monthly Account Management Fee: Nil
Annual Membership Fee: Nil
Split Fee: $300 per split