Cash Out – Equity Release
Cash Out – Equity Release
Cash Out equity access.
Residential, Commercial, Industrial, Rural residential and Rural.
Business and Investment only.
| Product Details | |
| Current Interest Rate | Rates from 10.05% |
| Interest (Variable & Fixed) | Calculated daily and charged monthly |
| Fixed Rates | 1 or 2 fixed terms available. |
| Loan Size | Up to $1 million per security. |
| Maximum Borrowings (Loan to Value Ratios) | 70% of security valuation (conditions apply) |
| Loan Period | up to two years – extension possible subject to performance. |
| Repayment Options | Interest only. Interest is payable monthly, quarterly, six monthly or annually in advance. |
| Mortgage Insurance | no mortgage insurance applies to this product. No lenders risk fee. |
| Payment Convenience | Interest is payable monthly, quarterly, six monthly or annually in advance. |
| Redraws | No redraws available on this product. |
| Loan access | LoanStar Customer service – 1300 782 766 |
| LoanStar Fees | Application 2% of amount financed (includes one standard residential valuation up to $500,000 for loans over $300,000)Extra Valuation $275 (standard residential valuation up to $500,000)
Account Keeping Fee NIL Statement Fees NIL |
| Construction Loan | Not Available |