Solution Residential
From 6.49%
*Promotion Rate
About Solution Residential
- Max LVR: 80% Residential; 75% Prestige
-
Max Loan Amount:
Residential: $3,000,000
Prestige: $5,000,000 - Vacant Land Acceptable
- No monthly or Annual Fees
- Full doc & Alt doc
- Lender Conducts Employment Check and Individual Check
- Residential Construction with Max LVR 80% and Max Loan $2.5M
Loan Purpose and Rate
Residential - Full Doc
6.49% PI (LVR ≤ 65%, Max Loan $3M)
- Interest rate from 6.49% P.A.
- Comparison rate from 6.68% P.A.
Residential - Alt Doc
6.59% PI (LVR ≤ 65%, Max Loan $3M)
- Interest rate from 6.59% P.A.
- Comparison rate from 6.80% P.A.
Prestige - Prime
7.49% PI & IO (LVR ≤ 65%, Loan Size $3M <= $5M)
- Interest rate from 7.49% P.A.
- Comparison rate from 7.83% P.A.
Construction - Prime - Full Doc & Alt Doc
7.89% PI/IO (LVR ≤ 65%, Max Loan $2.5M)
- Interest rate from 7.89% P.A.
- Comparison rate from 8.20% P.A.
Construction - Near Prime - Full Doc & Alt Doc
8.29% PI/IO (LVR ≤ 65%, Max Loan $2.5M)
- Interest rate from 8.29% P.A.
- Comparison rate from 8.60% P.A.
Vacant Land - Full Doc & Alt Doc
7.89% PI/IO (LVR ≤ 65%, Max Loan $2M)
- Interest rate from 7.89% P.A.
- Comparison rate from 8.20% P.A.
Residential Bridging - Full Doc & Alt Doc - Prime
7.74% IO (LVR ≤ 65%, Max Loan $5M)
- Interest rate from 7.74% P.A.
- Comparison rate from 8.03% P.A.
Residential Bridging - Full Doc & Alt Doc - Near Prime
8.14% IO (LVR ≤ 65%, Max Loan $5M)
- Interest rate from 8.14% P.A.
- Comparison rate from 8.44% P.A.
Retained Stock - Residential or Commercial Pricing when <= 3 Properties retained
7.99% IO (LVR ≤ 80% ex GST, Max Loan $2M) when > 3 properties retained
Product Summary
| Security type | Residential & Vacant Land & Construction |
| Loan Amount | $100,000 to $5,000,000 |
| Maximum LVR | 80% |
| Loan Term | Up to 30 years |
| Borrower Type | Individual, Company or Trust |
| Loan Purpose | Purchase / Refinance / Equity Release / Debt Consolidation / Construction |
| Repayment Method | Direct debit from nominated bank account |
| Interest structure | Principal and Interest & Interest Only (Up to 5 years) |
| Annual Fee | $0 |
| Pre-Assessment Fee | Individual Applicant: $950 or $1,350 |
| Application Fee | From 0.35% |
Document Checklist
Income Documents - PAYG
- Latest 2 Payslips PLUS
- One of the following:
- Employment Letter
- 3 Months Salary Credits
- MyGov Income Statement
Income Documents - Self Employed Full Doc
- Most recent 1 year Company Tax Returns & Financial Statements
- Most recent 1 year Personal Tax Returns & Notice of Assessment
- Most recent BAS or 3 months Business Trading Statements if tax return is > 6 months old
Income Documents - Self Employed Alt Doc
- Declaration of Financial Position PLUS
- One of the following:
- Accountant Letter
- 6 months BAS
- 6 months Bank Statement
Construction Documents
- Fixed Price Build Contract
- Formal build tender including proposed drawdown schedule
- Final Plans
- Build specifications
- Quotes for works outside of Build Contract
- Copy of Planning Permit / Development Approval as required