Variable Rate Home/Inv Loan 5.74% p.a. (CR 6.41%) LVR upto 90% with Offset + 0.3% Broker Cashback @ firstmac

Hello Ozbargainers,

Firstmac are offering a Green Home loan option. Supporting environment friendly properties and being competitive on the interest rates.

Might not be a great option for Owner Occupiers but 5.74%(5.59% after broker cashback) is amazing for an investment property loan. Especially if you are after Interest Only Repayments.

Fees:-
$720 at the start and $550 exit fees. It is on the higher side.

Eligibility Criteria to qualify for this offer
Option-1

• Property Should be built in the last 12 months.
• You must provide us with a Nat1EKS Certificate for the security property for the loan containing a rating of 7 stars or higher before final approval of your loan in order to qualify for the Discount Offer.

Option-2

• Pass Solar Eligibility in broker tool and be supported by one of the following: -
  
  • An invoice or quote for your solar system, meeting or exceeding the minimum required and confirming the address of installation. If you provide us with a quote, your
    quoted solar system must be installed within 90 days of settlement of your loan.
  • Photo evidence of the solar inverter and size showing the Kilowatts) accompanied with a statuary declaration confirming the system is installed on the security property
  • Photo of the inverter and size, showing the Kilowatts), as confirmed by an independent valuer. This can be requested by Firstmac when ordering the valuation over the
    security property. Note: Full valuation is required using this option.

Generic Eligibility Criteria Applicable to both options:-

• Your home loan application must be for a new home loan with Firstmac, and cannot be for a variation, a split, an additional or further advance, or a material change to a current loan with Firstmac.
• Your home loan application must be settled within a reasonable time, typically within 60 days, of Firstmac issuing you with loan documents.
• If a loan with this Discount Offer is the subject of a variation, a further advance, or any other material change to the loan, then a reduction in the Discount Offer may apply. If any alterations to the security property result in the loss of its >R7 star rating, then the loan will become permanently ineligible for the Discount Offer, and the Discount Offer will cease to apply.
• This Discount Offer may be varied or withdrawn by Firstmac if your loan application is not actioned or progressed by you within a reasonable period.
• Your home loan application is subject to the Firstmac usual lending criteria, terms and conditions.

Combining this with broker cashback of 0.3% of loan amount will give you an effective rate of 5.59% for first 2 years. 0.15% discount for 1st and 2nd year.

Refer to this link for broker cashback terms and conditions.

General Advice Warning-. The information contained on this web page is general in nature and does not take into account your personal situation. Please contact me for a tailored solution, comparing 30+ banks/lenders. The best way to reach out is to book an appointment in my calendar

Regards,
Roopali
0415 719 759
Director | Mortgage Broker
Lending Workshop Pty Ltd
Credit Representative Number 544854| Australian Credit License Number 391237| ABN 98 663 429 598|Certified FBAA Member M-353524.

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