Basic Variable Investment Construction
Our Basic Variable Home & Investment Construction Loans offers our lowest rate with no upfront or no ongoing monthly fee which enables you to make unlimited extra repayments to pay off your loan quicker.
Category: Home Loans Last Updated March 6, 2024 Effective May 3, 2024
General Lending Rates
Rates listed below are for a VARIABLE INVESTMENT P&I product. Additional Information Minimum $50,000 balance.
Interest Rate
8.83% PA
8.83% PA
Comparison Rate
8.83%PA*
8.83%PA*
Product rates will vary depending upon your financial position< LVR, and other criteria. The product may also vary depending upon the rate type, repayment type, or loan purpose. We encourage you to contact us for a full understanding of the product and terms.
Product Variations
Product rates and conditions will usually vary based on the LVR and other conditions..
Basic Variable Investment Loan (Min)
Minimum: $50000.00 Maximum: $149999.99
Basic Variable Investment Loan (<=80% LVR)
- Lending Rate Type: Discount
- Interest Rate: 0.25%, Comparison Rate 8.58%
- Repayment Type: Principal And Interest
- Loan Purpose: Investment
Basic Variable New Business Investment Loan (Min)
Minimum: $150000.00 Maximum: $2000000.00
Basic Variable New Business Investment Loan (<=70% LVR)
- Lending Rate Type: Discount
- Interest Rate: 2.59%, Comparison Rate 6.25%
- Repayment Type: Principal And Interest
- Loan Purpose: Investment
Basic Variable New Business Investment Loan (Min)
Minimum: $150000.00 Maximum: $2000000.00
Basic Variable New Business Investment Loan (70.01%-80% LVR)
Minimum: 70.01 PERCENT Maximum: 80 PERCENT
- Lending Rate Type: Discount
- Interest Rate: 2.49%, Comparison Rate 6.35%
- Repayment Type: Principal And Interest
- Loan Purpose: Investment
Basic Variable New Business Investment Loan (Min)
Minimum: $150000.00 Maximum: $2000000.00
Basic Variable New Business Investment Loan (>80% LVR)
Minimum: 80.01 PERCENT Maximum: 90 PERCENT
- Lending Rate Type: Discount
- Interest Rate: 1.94%, Comparison Rate 6.89%
- Repayment Type: Principal And Interest
- Loan Purpose: Investment
Product Features
- Digital Banking
- Other Additional Information: Choose from a range of Home and Investment Loan options: Variable Package, 1 year or 2 year Fixed Package, Standard Variable or Basic Variable Loans.
- Extra Repayments Additional Information: Freedom to make unlimited extra repayments – reduce your loan term and save money
- Other Additional Information: Flexible repayment frequency - pay weekly, fortnightly or monthly.
- Other Additional Information: $0 Visa Credit Card Annual Fee - save $59.
- Guarantor Additional Information: Family Guarantees can help applicants get into their home sooner by reducing the amount of deposit required
- Relationship Management Additional Information: Our Program One to One provides a higher level of personalised service to members that have significant business with the Credit Union, measured by borrowings and/or deposits. This is achieved by providing each member with their own Relationship Manager as a single point of contact for all their financial service needs.
Product Eligibility
- Natural Person - Personal Members Only.
- Residency Status - Permanent Residents Of Australia Who Reside In Australia At The Time Of Membership Application Are Eligible For Membership, Regardless Of Citizenship Status..
- Min Age - 18. Additional Information: 18 years and over
- 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.
- Top Up Fee (Event), Amount: 400.00. Additional Information: Payable when you request and we approve additional funds to your existing borrowings and there is no change to the security or borrowers.
- Discharge Of Mortgage (Event), Amount: 350.00. Additional Information: For the preparation of a discharge of mortgage.
- 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.
- 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 (Event), Amount: 0.00. Additional Information: Valuation Fee at cost and payable by member.
Limitations & Restrictions (Constraints)
- Min Limit of 50000.00 Additional Information: Minimum loan size is $50,000.00
Document Downloads
brc-8-6-2-fees-and-charges.pdf (130.1 KB)
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