More Details

Loan Details

 

Lender
https://www.erates.com.au/wp-content/uploads/2019/02/Heritage-Bank.png
Comparison Rate
4.37
Name
Home Advantage Package Variable $250k - $700k 80% - 90% LVR Investment IO
Lender
Heritage Bank
Product Name
Home Advantage Package IO
Product Details
New lending only. Must hold a Heritage Credit Card, pay annual fee & hold an eligible package home loan with a minimum of $150k lending to be eligible to receive package benefits. I/O loans cannot be switched or refixed, they need to be rewritten/renegotiated. Pre-approvals not available (pre-approvals will only be accepted if existing Heritage Bank customers or on the construction portion of a land and build loan)
Variable Rate
4.02
Fixed Rate
Fixed Period
Introductory Discount Rate
Discount Period
Application Fees
0
Discharge Fees
250
Ongoing Fees
350
Valuation Fees
0
Lenders Legal Fees
0
Lenders Settlement Fees
410
Minimum Loan Amount
250000
Max Loan Amount
699999
Owner Occupied
N
Investment
Y
Repayment Option
Interest Only
ACT
Y
NSW
Y
TAS
Y
QLD
Y
VIC
Y
SA
Y
WA
Y
NT
Y
Standard Variable
Y
Fixed
N
Interest In Advance
N
Reverse Mortgage
N
Basic
N
No Doc
N
Low Doc
N
Equity
N
Intro
N
Credit Impaired
N
Professional Pack
Y
Minimum Loan Term (years)
1
Max Loan Term (years)
30
Rate Details
1.22% discount (already included) off the Standard Variable rate
Fee Details
Annual fee waived for the first year of the loan (available from 02/092019 to 31/10/2019, conditions apply). I/O loans can not be switched or refixed, they need to be rewritten/renegotiated. Where a valuation is required with one property offered as security Heritage will pay for the valuation, if two or more securities are involved, or val. costs exceed $330 (inclusive of GST), the difference is to be borne by the borrower. Heritage Settlement Fee - $150 (per settlement). Agents Settlement Fee ranges between $88 - $260 plus disbursements (per settlement) for CBD settlements, depending on state. Where Heritage engages an agent acting on its behalf, the Agents Settlement Fee will be passed on to the borrower. Legal Fees: Nil with the exception of Trust & Company loans which attract a fee of $250 in addition to the application fee. Collateral Security Fee - $100 ($150 if different state) for each additional unencumbered security. Guarantor Fee $200. Galilee fee (applicable for files with security properties located in WA, Tas, NT & SA) A fee of $300 + GST per file is payable except for Further Advance & Equity loans where a new mortgage is not required. In cases where the customer is paying the Galilee fee, Heritage does not charge the $150 settlement fee.
Internet Banking
Y
Mortgage Offset Available
Y
Redraw Details
Nil
Redraw Facility
Y
Construction
Y
Can Make Extra Repayments
Y
Repayments Fortnightly
Y
Repayments Monthly
Y
Repayments Weekly
Y
Salary Direct Available
Y
Portability
Y
Split Available
Y
Split Details
This product has an annual fee which covers the splits at time of application.