Important disclosure
Variable Residential Investment Loan
No owner occupier products available.
Coastline Credit Union Variable Rate Home loan overview
For Variable Residential Investment Loan (LVR ≤ 60%)
Details
Maximum LVR 60% | Total Repayments |
Interest rate type Variable | Borrowing range
$5k
-
$100m
|
Suitable for Investors | Loan term range 1 - 30 years |
Repayment type Principal and Interest | Applicable states ACT, NSW, NT, QLD, SA, TAS, VIC, WA |
Target Market Determination Visit Coastline Credit Union to view Target Market Determination. |
Features
Extra repayments Unlimited | Redraw facility Redraw fee: $0 |
Offset account | Split interest facility |
Loan portability | Repayment holiday available |
Allow guarantors | Available for first home buyers |
Other benefits |
Fees
Total estimated upfront fees $600 | Application fee $250 |
Legal fee $350 | Valuation fee $0 |
Settlement fee $0 | Other upfront fee $0 |
Ongoing fee $8 | Discharge fee $160 |
Pros and cons
For Variable Residential Investment Loan (LVR ≤ 60%)
Benefits
- Parents can sign as guarantor
- Extra repayments and redraw facility
- Free redraw facility
- Split account option
Drawbacks
- No offset account
- Higher than average interest rate
- Ongoing fee
- Higher than average upfront fee
- Discharge fee at end of loan
- Maximum loan amount is limited to 60% of the property's value
- No repayment holidays
FAQs
What is the minimum amount you can apply for?
What's the minimum deposit needed for this loan?
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Does this loan come with a redraw facility?
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