InterPrac Mortgages Newsletter-September 2007

 

  
 
106% Investor Loan @ 8.80%pa

The Investor Loan makes investing in the residential property market faster than ever before. No deposit is needed and you can also borrow most, if not all, of the associated costs of the investment without having to provide additional security by way of a first or second mortgage, or third party guarantee.

Who does Investor Loan suit?

  • Investors wishing to avoid the substantial cash outlay to cover Stamp Duty & Transfer Duty

  • Investors who want a ‘stand-alone’ investment loan without having to offer any ‘additional security’ such as the family home or any other property

  • Anyone with a good credit history and stable income

N.B. – The Investor Loan is a unique loan which InterPrac can offer your clients. Only one lender in Australia offers a no-deposit home loan that also lends fund sufficient to cover all Stamp Duty & Transfer Duty (in every State & Territory) without the need for additional security such as the family home.

Type

Variable

Fixed

Annual Percentage Rate

8.80%

8.80%

You can make your payments to your loan in one of two forms, either Interest Only or Principal and Interest. With the Principal and Interest method the payments are mathematically calculated so that if you make that payment over the term of the loan, and the interest rate does not change, you will pay off the whole loan on the end date of the loan. You are thus paying not only the interest but also a portion of the Principal amount borrowed with each payment.

Interest Only Loan
Only Loan A loan where the principal is repaid at the end of the loan term and interest only is repaid during the term of the loan. These loans are usually short term, say 3 years.

Fixed Interest Rate
A client can choose a 3 years fixed rate for new loans. Penalties may apply if the loan is paid out before the term expires.

Variable Interest Rate
An interest rate that varies during the term of the loan, in accordance with market forces.
Loan Limits

State

House

Unit

NSW

$1M

$850K

VIC

$800K

$700K

QLD

$750K

$600K

ACT

$500K

$400K

SA*

$500K

$350K

NT*

$450K

$450K

TAS*

$550K

$500K

*Conditions apply

Documentation Required
All our loans are FULLY DOCUMENTED. We lend more than the value of the property; therefore we require more 3rd party documentation than other lenders when assessing your application for a loan (e.g. bank statements and proof of income).

To find out what we require call our office on 1800 700 666.

Yours Sincerely

Brent Jones

General Manager

InterPrac Ltd

1800 700 666 (Phone)
1300 368 427 (Fax)