For self employed borrowers
Is a variation of our (standard)
Pacific Premium & (standard) Line of Credit loan with the only
difference being the slightly higher interest rate due to no proof of
income being required.
Can be used in such cases as starting up a new business or when Tax Returns are not yet completed or not available.
Can revert to our low standard rate after a qualifying period (usually 2 years).
Rate is often lower than the banks' advertised standard rates.
Covers home loans, investment loans, consolidation and refinance loans and is a long term (30 yrs approx) loan.
It allows for extra payments (with your normal payments or "one off") and has free redraws.
The set up cost is normally just $220 plus mortgage insurance if applicable + any govt charges.
Can also include non-conforming loans (see below) where the borrower(s) may have bad credit history etc
NON-CONFORMING LOANS
Can be used in such cases as
starting up a new business, poor credit report, past bankruptcy etc - several items come into play here.
Loans are
available to those that may have had a credit problem in the past where
their credit report does not allow for standard loans (whether with
proof of income or without).
The loan amount and interest rate will depend on the level of credit impairment and or short term employment. Is
normally seen as a short term answer to the above, after which we would
look to transfer the loan to either a cheaper loan, or an
even a standard loan (once proof of income was available and past
poor credit history was cleared).
- Loans available for any purpose.
- Loans up to 90% of valuation.
- Long term loan with no ongoing fees.
- Can be Interest Only or Principle & Interest - individual circumstances and amount borrowed has an impact on this.
- If Interest Only, additional payments are still allowed.
- Internet
access to print out loan statements, make extra payments (one off or
regularly with normal payment) and free redraws if you have paid off
extra.
- Personal contact with Customer Liaison staff on toll free number or email.
- Transferable to another security.
- Available to both corporate and individual borrowers.
- Mortgage is held by one of Australia's oldest and largest trustee companies.
LINE OF CREDIT LOANS
Is a variation of our "premium" loan but
with additional free redraws and allows for the monthly payment to be
paid from any available loan surplus amount available at the time. ie
no monthly payments would be required if the borrowers payments are "in
advance" as the payment can be taken from the "available credit"
Covers home loans, investment loans, consolidation and refinance loans and is a long term (30 yrs approx) loan.
It allows for extra payments (with your normal payments or "one off") and has free redraws.
The
set up cost is normally just $220 plus mortgage insurance if applicable
(over 80% of valuation) plus any government charges.
Can also be Lo Doc & No Doc with the only difference being the interest rate
- Long term loan.
- No ongoing fees.
- Available for home or investment.
- Same low standard variable rate available for both 'home' loans and 'investment' loans.
- Can be Interest Only for up to 10 years then to Principle & Interest, or Principle & Interest from the outset.
- If interest Only, additional payments are still allowed.
- Additional payments can be made via Direct Salary Credit and other income credits (BPay etc).
- Internet access to print out loan statements, make extra payments (one off or regularly with normal payment) and unlimited free redraws if you have paid off extra.
- Telephone banking also available.
- Cheque book available.
- Low variable rate with option to fix at amy time at no cost.
- Personal contact with Customer Liaison staff on toll free number or email.
- Transferable to another security.
- Available to both corporate and individual borrowers.
- Mortgage is held by one of Australia's oldest ad largest trustee companies.
Please call us now on the FREE CALL number above to discuss this loan, or use our Contact Page to submit your questions. For a comprehensive informed response please fill out and submit our Loan Enquiry Form. 
PACIFIC PREMIUM HOME / INVESTMENT LOAN
