Its A Bewdy! The Premium UpFront Facility
The Premium UpFront Facility provides a fantastic ongoing rate by paying a 1.5% (of the loan amount) as an upfront application fee. The Premium UpFront Facility compares very favourably with most banks 'pro pack products' which offer various discounts in exchange for ongoing annual fees.
As a comparison on a $250,000, 30 year home loan:
Premium UpFront Facility application fee : $3750*
Some other banks 'Professional pack' (annual fee) 30 yrs @ $395 / year : $11,850
That's a saving of $8100 by choosing the Premium UpFront Facility !
*Additionally there may be some tax advantages to investors wanting to write off this application fee over a short term as opposed to 30 years ( clients should seek independent taxation advice)
Premium UpFront Facility
| Interest Rate | 7.52% |
| Comparison Rate | 8.70% |
| Application Fee | 1.5% of loan amount |
| Valuation Fee | NIL |
| Legal Fees | NIL |
| Service Fees | NIL |
| Annual Fee | NIL |
| Redraw Fee | NIL |
| Fixing Fee | NIL |
| Splits Available | YES |
| Free Transactions | Yes (6 per month) |
| Repayment Methods | Direct Debits Direct Salary Credits Other Income Credits BPay |
| Repayment Frequency | Weekly, fortnightly, Twice monthly, monthly Day/Date can be nominated |
| Security | Standard Residential |
* The Comparison rate is calculated on a loan amount of $250,000 over a term of 25 years.
Warning: The comparison rate applies only to the example given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees and cost savings such as fee waivers are not included in the comparison rate but may influence the cost of the loan
