Home Loan Products

Construction Loan

Summary
Rates & Fees
Calculators
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Offers flexibility if you're building a home.

This is a flexible loan for people who are building a home or investment property, allowing for progress payments to the builder during the construction period.

Main Features

100% Offset.¹
Weekly, fortnightly or monthly repayments.
Additional repayments accepted.
No Early Repayment penalties.
Interest Only available.²
Redraw available ($500 minimum).
Repayment Holiday.³
No maximum loan amount.
30 year maximum loan term.

Interest

Calculated daily and charged monthly in arrears.

Repayments

Principal & interest repayments.
Interest Only repayments are also available for 1-5 year terms.

Loan to Value Ratio (LVR)

Maximum 95% of the value of the property (Lenders Mortgage Insurance is required for loans of more than 80% of the value of the property).
Maximum 60% of the value of the property for owner builders.

Security

First mortgage over owner-occupied or investment property.

When you link a savings account to an offset facility, you earn no interest under the savings account even if the balance of the savings account exceeds the loan balance.
Monthly repayments only.
Loan must be in advance to enable repayment holiday.

Rates & Fees

Interest Rate (p.a.)¹	6.99%
Comparison Rate* (p.a.)²	7.06%
Establishment Fee	$600
Administration Fee	$350³
Redraw Fees	$0

Terms and Conditions

Part A - Product Information
Part B - Fees and Charges
Part C - Interest Rates

Interest Rates effective 20 December 2011. Interest is calculated daily. Interest rates are per annum, current at the time of printing and are subject to change without notice.
Comparison rate calculated on a secured loan amount of $150,000 for a term of 25 years.
WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees and other loan amounts might result in a different comparison rate.
One-off fee to cover progress valuations and draw downs.

*Comparison rates for first home buyers will differ to those outlined above.

Calculators

	Borrowing Power Find out how much you can expect to borrow based on your current salary and existing financial commitments.
	Loan Repayments Work out what your minimum weekly, fortnightly or monthly loan repayments would be for any borrowed amount.
	Stamp Duty and Government Fees Stamp duty and Government fees add significantly to the cost of buying a property. Find out how much it will cost in your state or territory.
	Extra Repayments Calculate how much time and interest you can save by paying more than the minimum repayment.
	Lump Sum Repayments Calculate the time and interest you can save by paying a lump sum off your loan.
	Loan Comparison Compare two loans and calculate the savings.