La Trobe Financial Product Details:PERFORMANCE PLUS LOAN
La Trobe Financial Product Details:
PERFORMANCE PLUS LOAN
| Product Name | Full Doc | Lite Doc® |
| Current Rate (owner occcupied)^ | 3.99% p.a. variable (effective rate of 3.79% p.a. if performance + rebate earned) | 4.99% p.a. variable (effective rate of 4.79% p.a. if performance + rebate earned) |
| Current Rate (investment)^ | 4.29 p.a. variable (effective rate of 4.09% p.a. if performance + rebate earned) | 5.29 p.a. variable (effective rate of 5.09% p.a. if performance + rebate earned) |
| Comparison Rate* | 4.28% | 5.28% |
| Security Type | Residential Security | Residential Security |
| Loan Purpose | Any worthwhile purpose (incl cash out) | Any worthwhile purpose (incl cash out) |
| Verification Required | Last 2 pay slips and employment reference or last 2 years financials | Accountant's certification & Borrower declaration |
| Personal or Business/Investment Purposes | Both | Both |
| Minimum Loan Amount | $100,000 | $100,000 |
| Maximum Loan Amount | $1,000,000 | $1,000,000 |
| Maximum LVR | 95% | 95% |
| Lenders Mortgage Insurance required | Yes ≥ 80% LVR | Yes ≥ 80% LVR |
| Maximum Loan Term | 30 Years | 30 Years |
| Repayment Type | Principal & Interest | Principal & Interest; and Interest Only |
| Maximum Interest Only Term | n/a | 5 Years reverting to P&I (+0.30% p.a. step up to interest rate) |
| Interest Rate Type | Variable | Variable |
| Redraw Available | Yes (no charge) | Yes (no charge) |
| Application Fee (excl. Val. & Legal Fees) | $995 | $995 |
| Risk Fee | $0 | $0 |
| Additional Repayments | Yes | Yes |