EFFECTIVE 4/9/2008
|
Features
|
Honeymoon
|
Variable Rate
|
Discount Variable
Rate
|
Fixed
Rate
|
EquitiSmart
|
| Interest Rate |
Year 1
Fixed
Year 2 & 3 Discounted Fixed or Variable
|
Variable
|
Year 1 Variable
Year 2 & 3
Discounted
Fixed or
Variable
|
Fixed for either 1, 2 or 3 years
|
Variable
|
| Converts to |
Variable
|
|
Variable
|
Variable
|
|
| Split Loan |
|
|
|
|
|
Loan % of
Property Value |
up to 95%
|
up to 95%
|
up to 95%
|
up to 95%
|
up to 80%
|
| Lenders Mortgage Insurance Applicable |
If you borrow more than 80%
|
n/a
|
| Loan Amount (min) |
$50,000
|
$20,000
|
$50,000
|
$50,000
|
$20,000
|
| Loan Term (max) |
30 years
|
30 years
|
30 years
|
30 years
|
n/a
|
Additional
Payments |
|
|
|
|
|
Additional
Payment Restrictions* |
|
×
|
|
|
|
| Offset Savings |
×
|
|
×
|
×
|
n/a
|
| Redraw Facility |
×
|
|
|
×
|
×
|
Repayment
Options |
Weekly, Fortnightly, Monthly
Principal + Interest or Interest Only
|
|
| Application Fee |
×
|
×
|
×
|
×
|
×
|
| Account Keeping Fee |
×
|
×
|
×
|
×
|
×
|
| Portability |
|
|
|
|
|
Loan Setup
Costs |
You will be required to reimburse Gateway for third party costs such as legal fees, valuation of security property and government charges
|
Loan Contract
Fees |
Government charges, credit fees and other charges may apply
|
1. Interest is calculated on daily balances and charged monthly in arrears.
2. Comparison rate based on $150,000 over 25 years.
3. EquitiSmart - Access funds whenever you need via Online Banking or CUE Call. Automatic payments to and from your account.
4. EquitiSmart - Earn interest on credit balances at an Everyday Savings rate.
5. EquitiSmart - Regular repayments not required provided you maintain the balance below your approved credit limit.
6. *Additional Repayment Restrictions:
For Honeymoon or Discount Variable Rate Home Loan - If entire loan is repaid within the first 3 years a fee may be charged.
For Fixed Rate Home Loan - If entire loan is repaid within the fixed rate period a fee may be charged.
7. For Variable Rate Home Loan you must select either Loan Redraw or 100% Loan Offset.
8. 100% Loan Offset is not available with Discount Variable or Fixed Rate Home Loans.