This first home assistance loan offers a unique way of reducing the pressure on children wishing to purchase their own property. P2C® enables children to enter the housing market without the need to ask mum and dad to put their wealth at risk through bank guarantees, or further mortgages against the parental primary or other residences.
Current Rate^: from 2.50%^
Comparison Rate*: N/A
Security Type: Residential security (Parent discounted 2nd mortgage covering deposit)
Loan Purpose: Residential property: purchase and/or debt refinance and/or debt consolidation and/or equity release
Verification Required: Full or Lite Doc® methods
Personal or Business/Investment Purposes: Both
Minimum Loan Amount: $100,000
Maximum Loan Amount: $5,000,000 (60% LVR)
Maximum LVR: 105% of property purchase price
Lenders Mortgage Insurance required: No < 80% LVR (saving you thousands in LMI)
Maximum Loan Term: 25 Years
Repayment Type: Principal & Interest
Interest Rate Type: Variable
Redraw Available: No
Application Fee (excl. Val. & Legal Fees): from $1,000
Risk Fee: $0
Additional Repayments: Yes
Current Rate^: from 2.50%^
Comparison Rate*: N/A
Security Type: Residential security (Parent discounted 2nd mortgage covering deposit)
Loan Purpose: Residential property: purchase and/or debt refinance and/or debt consolidation and/or equity release
Verification Required: Full or Lite Doc® methods
Personal or Business/Investment Purposes: Both
Minimum Loan Amount: $100,000
Maximum Loan Amount: $5,000,000 (60% LVR)
Maximum LVR: 105% of property purchase price
Lenders Mortgage Insurance required: No < 80% LVR (saving you thousands in LMI)
Maximum Loan Term: 25 Years
Repayment Type: Principal & Interest
Interest Rate Type: Variable
Redraw Available: No
Application Fee (excl. Val. & Legal Fees): from $1,000
Risk Fee: $0
Additional Repayments: Yes
CONSUMER ADVISORY NOTE
Maximum loan amounts and LVRs may vary based on security offered.
* The comparison rate is based on secured credit of $150,000 and a term of 25 years. WARNING Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees and cost savings such as fee waivers are not included in the comparison rate but may influence the cost of the loan. Terms, conditions, fees, charges and La Trobe Financial lending criteria apply.
^ Depends on the loan amount and risk grade of borrower
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