Basic Variable Home Construction

 General Lending Rates

• Lending Rate Type: Discount
• Interest Rate: 0.25%, Comparison Rate 7.93%
• Repayment Type: Principal And Interest
• Loan Purpose: Owner Occupied

• Lending Rate Type: Discount
• Interest Rate: 2.29%, Comparison Rate 5.90%
• Repayment Type: Principal And Interest
• Loan Purpose: Owner Occupied

• Lending Rate Type: Discount
• Interest Rate: 2.19%, Comparison Rate 6.00%
• Repayment Type: Principal And Interest
• Loan Purpose: Owner Occupied

• Lending Rate Type: Discount
• Interest Rate: 1.69%, Comparison Rate 6.49%
• Repayment Type: Principal And Interest
• Loan Purpose: Owner Occupied

 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.

• Portability Fee (Event), Amount: 300.00. Additional Information: Charged per occasion when you wish to change the security(ies) against an existing loan(s) and there is no change to the existing loan(s) amount, loan interest rate or type, term of the loan(s), product type, borrowers or mortgagors. Discharge fees may also apply.

• Bank Cheque Fee (Event), Amount: 0.00. Additional Information: Bank Cheque Fee at cost to People's Choice per cheque

 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 (129.8 KB)