| INTEREST RATE |
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From 10.15%. Variable 5 Years. |
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| FIXED OPTION |
|
3 & 5 Years. |
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| PURPOSE OF LOAN |
|
Purchase or refinance Commercial Real Estate. |
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| LOAN AMOUNTS |
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• Minimum: $200,000.
• Maximum: $25,000,000. |
|
| ACCEPTANCE FEE |
|
0.55% of loan amount plus valuation & legals. |
|
MAXIMUM LOAN TO
VALUATION RATIO (LVR) |
|
70% (However will consider up to 75% lvr). |
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| PAYMENT MODE |
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Monthly in arrears on 1st day of each month . |
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| INTEREST RATE DETERMINATION |
|
Fixed Interest Rates: The actual fixed rate will be '"Locked-In" on receipt of signed letter of offer with cheque (legal & valuation fee). |
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| VARIABLE INTEREST REVIEW |
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Variable rates are reviewable each three months, from date of settlement. |
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| PRINCIPAL REDUCTIONS |
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Are permitted on both fixed & variable at any time without penalty as long as loan is not fully discharged. |
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| SWITCH/SPILT |
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Applicant has the right to switch from Variable to Fixed Rate of Interest at no cost. Loan can also be spilt.
|
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| EARLY DISCHARGE |
|
If the loan is fully repaid within the first three years of term, the following fees will be applicable:
• Repaid within initial 12 months, 3 months additional interest.
• Repaid between 12 & 24 months, 2 months additional interest.
• Repaid between 24 & 36 months, 1 months additional interest. |
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| REDRAW OPTION |
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At the discretion of the Lender and subject to the loan being conducted within relative terms and conditions applicants will have the ability to redraw non-mandatory principal repayments made to the loan on the following basis:
• No more than two redraws per annum
• Minimum redraw of $20,000 or no less than 5% of the original loan amount.
Redraw fee $300.00.
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