Business Variable Construction

 General Lending Rates

 Product Features

• Other Additional Information: Flexible repayment frequency - pay weekly, fortnightly or monthly / monthly for Interest Only

• Other Additional Information: Free up extra cash by paying only the interest portion of the loan for up to five years, then reverts to P&I

• Other Additional Information: With our Construction Loan option you can withdraw your funds gradually over a period of 12 months while you build so you only pay interest on the portion of the loan you have drawn; keeping your money in your pocket for longer

 Product Eligibility

• Business - Business And Non-personal Entities.

• Other Additional Information: Terms, conditions, fees, charges and lending criteria apply and are available on application

 Bank Fees and Charges

• Security Handling Fee (Event), Amount: 150.00. Additional Information: Charged per occurrence. Payable in the following circumstances; deed of priority, title production, variation of priority, consent or name change.

• Discharge Of Mortgage (Event), Amount: 350.00. Additional Information: For the preparation of a discharge of mortgage.

• Documentation Fee (Event), Amount: 200.00. Additional Information: Payable in the following circumstances: preparation of an additional mortgage; preparation of a guarantee; or where documents have been cancelled or redone, at your request, after contracts have been issued.

• Valuation Fee (Variable), Amount: Not Listed.. Additional Information: Valuation Fee at cost and payable by member.

• Business Loan Application Fee (Upfront), Amount: 600.00. Additional Information: Application Fee of $600 for loans up to $80,000 or 0.75% of loan for loans greater than $80,000

• Business Loan Application Fee (Upfront), Amount: Not Listed.. Additional Information: Application Fee of $600 for loans up to $80,000 or 0.75% of loan for loans greater than $80,000

• Progress Draw Fee (Event), Amount: 400.00. Additional Information: Payable per property when a loan will be drawn progressively for either construction or major renovation purposes. The fee includes the cost of all progress draws and the final inspection.

• Portability Fee (Event), Amount: 300.00. Additional Information: Charged per occasion when you wish to change the security(ies) against an existing loan(s) and there is no change to the existing loan(s) amount, loan interest rate or type, term of the loan(s), product type, borrowers or mortgagors. Discharge fees may also apply.

• Bank Cheque Fee (Variable), Amount: Not Listed.. Additional Information: Bank Cheque Fee at cost to People's Choice per cheque

• Arrears Administration Fee 1 (Event), Amount: 25.00. Additional Information: Payable if you fail to make repayments due under your credit contract and you do not pay an amount sufficient to clear all repayment arrears within 7 days of us notifying you that your account is in arrears.

• Arrears Administration Fee 2 (Event), Amount: 25.00. Additional Information: Payable if you fail to make repayments due under your credit contract and your account remains in arrears for a period of 20 days or more.

• Enforcement Of Mortgage Fee (Event), Amount: 70.00. Additional Information: Charged whenever an enforcement notice is issued in relation to a credit contract that is secured by a mortgage over real property.

• Solicitor's/conveyancer Fee (Variable), Amount: Not Listed.. Additional Information: This fee is payable at-cost on the date of settlement and covers activities such as reviewing the contract of sale, conducting property searches, liaising with your financial institution, and preparing for settlement to ensure a smooth transaction.

• Land Title Office Fees (Variable), Amount: Not Listed.. Additional Information: Any fee payable at-cost on the date of settlement that are charged by the various states Land Title Offices regarding but not limited to registration of mortgage, transfer of title, property and title searches.

 Limitations & Restrictions (Constraints)

• Min Limit of 20000.00 Additional Information: Minimum loan size is $20,000.00