MO Solution
KEY FEATURES
DOCUMENTS CHECKLIST
- Maximum LVR 80%
- CLoan Size: $100,000 ≤ $2,000,000
- Individual, Company or Trust
- Maximum Loan Term 30 years
- P&I or IO (Max 5 years)
- Free Redraw
- Vacant Land Acceptable
- Application Form
- Servicing Calculator
- Broker Certified 100 Points ID
- Customer Income Declaration
- Accountant Letter
- Most Recent One-month Rental Statement For Current Properties
CUSTOMER PROFILE
| Prime | Near Prime | Near Prime + | Specialist | Specialist+ | |
| Debt Consolidation | Max of 4 Personal Debts | Unlimited personal or business debts | |||
| Cash Out | Unlimited for acceptable stated purpose (personal use only) | Unlimited for acceptable stated purpose | |||
| Vacant Land | Acceptable – Max 5 acres (75% maximum LVR on loans up to $1,000,000) | Not Acceptable | |||
| Max Land Size | 5 acres | Unlimited (on application) | |||
| Location | Cat & 2 | Cat 1, 2, 3 & 4 | |||
| Permanent FT/PT | 6 Months Current or 12 Months Industry | 3 Months Current or 12 | Months Industry | ||
| Casual | 12 Months Current | ||||
| Self Employed | ABN Minimum 24 Months GST Minimum 12 Months | ABN Minimum 12 Months GST Minimum Months | 6 | ||
| Documentation PAYG | Last 2 Payslips plus one of:
| ||||
| Documentation – SE Full Doc | Last 2 years Tax 2 years Financials (if | Returns & Notice of available) | Assessments | ||
| Documentation – SE Alt Doc | Declaration of Financial Accountants Letter
| position plus one of: statements | |||
| Credit History | Paid defaults (only) up to $500 may be considered | Defaults under $1,000 accepted (paid or unpaid) Up to 2 defaults over $1,000 paid listed over 12 months ago | Defaults over $1,000 paid, listed over 12 months ago Defaults unpaid over $1,000 due to 1 credit event older than 12 months | Unlimited defaults paid Defaults unpaid over $1,000 due to 1 credit event older than 6 months | Unlimited defaults paid Defaults unpaid due to 1 credit event |
| Mortgage Arrears | No Arrears | < month (paid) | 1 month | 3 month | |
| Other Arrears | No Arrears | < 1 month (paid) | 1 month | 2 month | 3 month |
| Discharged Bankruptcy | No | From 1 year Discharged | From 1 day Discharged |
* All fees a repayable at settlement （Except valuation fee）
P&I INTEREST RATES ON LOAN SIZES ≤ $ 1,750,000
FULL DOC
≤65% | ≤75% | ≤80% | |
Prime | 6.54% | 6.74% | 6.84% |
Near prime | 6.69% | 6.84% | 7.04% |
Near prime+ | 7.09% | 7.19% | 7.29% |
Specialist | 7.59% | 8.09% | 8.59% |
Specialist+ | 8.99% | 9.19% | 9.79% |
ALT DOC
≤65% | ≤75% | ≤80% | |
Prime | 6.94% | 6.94% | 6.94% |
Near prime | 7.24% | 7.54% | 7.69% |
Near prime+ | 7.59% | 7.89% | 8.09% |
Specialist | 8.09% | 8.49% | 8.89% |
Specialist+ | 9.59% | 10.09% | 10.39% |
FEES AND CHARGES
APPLICATION FEE
Prime | Near Prime | Near Prime+ | Specialist | Specialist+ | ||
Full Doc | ≤70% | $495 | $990 | 0.50% | 1.00% | 1.00% |
≤80% | $495 | $990 | 1.00% | 1.50% | 1.50% | |
Alt Doc | ≤70% | 0.50% | 0.50% | 1.00% | 1.25% | 1.50% |
≤80% | 0.50% | 0.75% | 1.25% | 1.50% | 1.75% | |
| VALUATION FEE* | At Cost – From $330 |
| SOLICITORS FEE | At Cost – From $500 |
| SETTLEMENT FEE | 0.30% |
| ONGOING FEE | $0 |
| DISCHARGE FEE | $450 plus solicitor fees |
LOADING
| Interest Loading | Application Fee* | |
| lnterest Only | 0.30% | N/A |
| lnvestment property | 0.15% | N/A |
| Acreage > 25 | From 1.00% | 0.75% |
| Loan size $1.75m ≤ $2m | 0.50% | 0.35% |
| Vacant Land | 2.50% | 1.00% |
MAX LOAN AMOUNT
| Prime, Near prime & Near prime+ | ≤75% | $2M |
| ≤80% | $1.75M | |
| Specialist | ≤75% | $1.5M |
| ≤80% | $1.25M | |
| Specialist+ | ≤75% | $1.25M |
| ≤80% | $1M |
* Loading applies to existing application fee except where a fixed dollar fee applies, in which case the loading replaces the existing application fee.
* Applies to both primary and secondary securities.
*All fees arepayable at settlement（Except valuation fee）