Lo-Doc All-In-One Loan

A great loan if you are self-Employed and don’t have your financials up to date, to 80% of the value of your property, with all the features you need to help you pay off your mortgage faster including salary crediting, free transactions, access to a nil-interest Visa card for your everyday banking and convenient all-in-one banking to simplify managing your finances.

This Lo-Doc All-In-One Line Of Credit could be the perfect loan if you require

  • Pay off your mortgage quickly by using your cashflow effectively
  • Access to all-in-one convenient banking
  • Access to a nil-interest Visa account
  • Over the counter transactions with Cheque and Deposit book

Lo-Doc All-In-One Loan Features *

Our Lo-Doc All-In-One Loan is packed with flexible features. Here are some of them…

Loan Amounts $50000.00 to $1500000.00
Minimum of $0.00 in combination or split.
Interest Rate Type Variable rate only
Term Evergreen (no set term)
Repayment Type Interest Only. Interest can capitalise to 100% of loan limit
Combinations and Splits Can split up to 4 accounts (will consider more) or combine with other Lo-Doc loan
Repayment Options Direct Debit either monthly or fortnightly Salary crediting Internet or telephone transfers from pre-nominated account for additional repayments Deposit at Westpac, Challenge & Bank of Melbourne, via pre-encoded deposit slip
Additional Repayments Allowable with no limit
Redraw Facility Cheque book, with no minimum redraws via Internet or telephone banking to pre-nominated account ATM or EFTPOS via Nil Interest Visa Account (NIVA)
Withdrawals Chequebook and Internet or telephone transfers from pre-nominated account for additional repayments ATM or EFTPOS via Nil Interest Visa Account (NIVA).
Press "credit" or "savings" at ATM for access to NIVA funds. Press "cheque" for access to Lo-Doc AIO account
NIVA Card NIVA limit is 3% of the total loan amount up to $5,000 (more with special approval). NIVA limit can be as low as $500, however AIO account must have a NIVA. Max 3 cards, borrowers only. Swept from AIO account on the first day of each month with unlimited free transactions. PIN is identical for ATM & EFTPOS for credit, cheque and savings transactions
Salary Crediting? Yes
Ability to Switch Can switch all or part of loan limit to another product
Statement Issued Monthly on both AIO & NIVA Accounts
Other Fees No account keeping or on-going fees. $1.50 for over the counter deposits and $1.50 for cheques used in excess of 5 per month. $1.50 for more than 10 withdrawals per month from AIO account (NIVA unlimited). Any ATM withdrawals overseas incur a fee of $3.70 per transaction (currently not charged)
Substitution Can substitute security within loan limit

* While we have taken all reasonable care in producing this information, we do not promise that it contains all the information you need to answer all your questions. All product details, interest rates, terms, conditions and other information may change at any time without notice.

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News

  • Firstfolio on the march
    January 7, 2010 | 8:21 pm

    Firstfolio Limited, parent company of myloanmyway, kicked off 2010 having completed three acquisitions of home loan groups and signed off on a major distribution deal.

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