Freedom Variable – Investment Fact Sheet
Our SMSF Variable home loan is aimed at those looking for greater flexibility with their loan. The Variable account comes with a 100% offset account which allows for additional lump sum payments and higher loan repayments. This loan is perfect for those looking for greater flexibility with their SMSF.
Product Overview
| Maximum Loan amount | Single Security: $1,000,000 |
| Loan to Value Ratio (LVR) | Up to 75% |
| Loan Term | Up to 30 Years |
| Loan Options | Principal and Interest (P&I), and Interest Only (I/O) |
| Credit History | Clear Credit History |
| Lenders Mortgage Insurance | N/A |
| Loan Purpose | Purchase or refinance of an existing SMSF loan |
| Liquidity | 7.5% required |
| Acceptable Securities | Categories 1&2 Residential up to 25 acres Residential properties greater than 50sqm (exclusive to balconies and parking) |
| Split Loans | Available. Up to 4 splits |
| Extra Repayments | Available |
| Offset | Available |
| Repayment Frequency | Weekly, fortnightly or monthly repayments |
| Voluntary Repayments | Extra repayments may be made at any time without penalty |
| Transaction Fees | Unlimited free internet & Phone banking transactions available on your offset account. Free Transactions for Online banking transfers, Phone Banking transfers, BPay and direct debits |
Set up Fees
| Application Fee | $1,645 |
| Settlement Fee | $550 |
| Valuation Fee | $250 or at cost |
| Solicitors Fee | $1,300 or at cost |
| Yearly Fee | $395 per year |
| 3rd party solicitor costs | at cost |
| 3rd party government costs | at cost |
Post Settlement Fees
| Loan Account Variation Fee | $150 |
| Loan Facility Variation Fee | $550 plus Third Party Costs* |
| Settlement Cancellation Fee | $1,300 or at cost |
| Manually Redraw | $25 |
| Ad Hoc Statement Fee | $15 |
| Discharge Administration Fee | $535 |
* Third Party Costs are costs incurred by services providers external to Freedom Lend and will vary depending on the nature of the service and request. These costs are passed on directly to the applicants.
