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Advest Quick Pay Loan

Express Line Of Credit Loan With Global Facility

Product Guide

This loan has the advantage of saving you money while still offering the flexibility of adapting to your changing circumstances. It allows easy access to additional funds through its redraw facility and its capacity for unlimited splits enables borrowing for investment properties and business purposes so easy.

Purpose
For the purchase of an owner-occupied or investment property, refinancing, or any other worthwhile purpose.

Minimum Loan Amount $50,000.00

Maximum Loan Amount $1,000,000.00 (subject to mortgage insurers)

Loan To Value Ratio up to 90% subject to the interest only period required.

Term 30 years

Interest Only Option up to 20 years

Fixed Interest Option At least one account to be at a variable rate. Other account/s can be fixed at any time at no extra cost for 1,3, or 5 yrs-please note that the amount per month remaining after the term period
will be repaid than the standard P&I loan because the total principle originally borrowed is still left to be paid.

Multiple Accounts Can be split into unlimited accounts post settlement with minimum split being $20,0000. Available balance of any variable rate account can be drawn to another account.

Repayment Options No monthly repayment required if borrower under the Global limit (this is the facility credit limit during the interest only term or the amortising limit once interest only term has expired).
Repayments are monthly via the following options:
• Direct deposit salary crediting - full or part salary monthly or more frequently
• Direct debit - please note: cannot collect monthly interest charged to an account via direct debit - must advised fixed payment if this option taken
• Repayment sweep

Additional Payments Payments to reduce the principle can also be made via:
• Deposit card at any Post Office
• Direct credits from other Banks, Building Societies or Credit Unions
• BPay from other Banks, Building Societies or Credit Unions
• Payments will not be received that will take the balance into credit on any split
• Break cost fees may apply to fixed rate accounts.

Lenders Mortgage Insurance Paid by Funder where LVR is up to 80% for loan amounts up to $1m

Access to Funds Available facility balance can be accessed through:
• Funds transfer to nominated accounts via phone or internet banking
• Bpay of bills using phone or internet banking
• ATM and EFTPOS using the cash card
• One free cheque book per loan per year
• Direct debit initiated by external parties (eg rates, gas) and credit card sweeps.


Fees: Please refer to our Fees and Charges

 


Interest Rate 6.95%

Comparison Rate 6.97% pa#

based upon a $300,000

mortgage over 30 years

Comparison Rate Schedule




Key Features

• No minimum monthly repayment while within the Global facility limit
• Unlimited account splits with monthly statement for each account
• available funds can be drawn from any variable split account
• Phone and internet access including funds transfer and BPAY
• Cash Card
• Deposit card
• Ability to link/sweep credit cards
• Lo Doc option


Phone us on:

1300 851 353

or

request a consultant


Important notice: # Comparison rate is calculated based on a loan of $300,000 over 30 years based on monthly repayments. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and costs savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. A Comparison Rate Schedule is available.

This information has been prepared without taking into account the objectives, financial situation or needs of any particular individual. For this reason any individual should, before acting on this information, seek appropriate professional, financial and taxation advice. Applications for any Advest Loan is subject to Advest’s normal loan approval process. Full terms and conditions will be included in any loan offer. Fees and charges are payable.

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