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  Retirees Access Home Loan

 General Lending Rates

 Product Features

• Redraw Additional Information: Your loan comes with a repayment redraw facility. This gives you access to additional repayments if you re at least one full repayment ahead, you can redraw $100 or more. It s simple to redraw using our App or Online Banking.

• Npp Payid Additional Information: Get faster payments between participating banks, anytime with Pay ID

• Npp Enabled

• Other Additional Information: No term. Payable on death of member or on vacating or sale of the property.

• Other Additional Information: Regular repayments not required. Lump sum repayments can be made at any time. Provided you are not in default, the loan will be repaid when the mortgaged property is sold on your death or death of the last borrower; the mortgaged property ceases to be your principal place of residence or that of the last surviving borrower; or on the death of the last surviving approved resident, where applicable.

• Other Additional Information: You or your estate cannot end up owing more than the value of the mortgaged property provided the terms and conditions of this loan have been met.

• Other Additional Information: The amount you borrow from your Retirees Access Home Loan and compound interest charged to the loan, will affect the amount you receive from the sale of the property (known as the equity in your property) should you ever need to sell it. Your equity in the property is likely to vary over time as both the market value of the property varies and the balance of the loan account increases.

• Other Additional Information: If you are living with someone who is not a borrower and the loan becomes repayable because you die or cease to permanently reside in the property, they will have to move out and live somewhere else.

• Other Additional Information: Any suitable purpose which includes personal use of cash for everyday living or things such as home renovations, an overseas holiday or a new car. The reverse mortgage can also be used to refinance an existing mortgage. A reverse mortgage cannot be used for business purposes or against a property in a retirement village.

 Product Eligibility

• Natural Person

• Min Age - 60. Additional Information: The sole applicant and in case of a joint application, the youngest borrower, must be 60 years of age or older. In the case of multiple applicants, all applicants must be 60 years of age or older and hold title to the property either as joint tenants or tenants in common.

• Residency Status - Permanent Resident. Additional Information: You must be an Australian citizen or permanent resident to apply

• Other Additional Information: At least one of the applicants or an approved resident must reside in the property (except where the property is an investment property or holiday home).

• Other Additional Information: Eligibility also depends on the property s value (which G&C will determine) and its location.

• Other Additional Information: Applications for credit are subject to the Bank s eligibility and suitability criteria and normal credit approval process.

 Bank Fees and Charges

• Loan Establishment Fee - Mortgage Loan (new) (Upfront), Amount: 500.00. Additional Information: A fee charged to set up a new home loan

• Valuation Fee (Variable), Amount: 0.00. Additional Information: A fee charged to cover the cost of obtaining a valuation report on your property or the property being purchased

• Mortgage Preparation Fees (Variable), Amount: 0.00. Additional Information: A fee charged for legal services including preparation of legal documents and attending settlement

• Title Search Fee (Event), Amount: 20.00. Additional Information: A third party cost for a Title Search to determine any interests in a property

• Registration Fees (Variable), Amount: 0.00. Additional Information: A third party cost for registration of mortgage

• Stamp Duty (mortgage) (Variable), Amount: 0.00. Additional Information: The tax charged on written documents and certain transactions imposed by the state government, such as mortgages and property transfers

• Pexa Service Fee (Upfront), Amount: 57.20. Additional Information: A fee charged to cover third party costs associated with the establishment of your mortgage

• Mortgage Administration Fee (Event), Amount: 150.00. Additional Information: A fee charged if we are asked by you or your legal representative to make any of our loan documents available to you during the life of the loan

• Consent Fee (Event), Amount: 300.00. Additional Information: A fee charged for consent to a subsequent mortgage in favour of an another lender where we hold the prior mortgage

• Mortgage Discharge Fee (Exit), Amount: 300.00. Additional Information: A fee charged if you repay your loan and request us to discharge your mortgage, includes our costs and is in addition to any costs incurred by us from external parties

• Mortgage Discharge - Registration Fee (Exit), Amount: 146.40. Additional Information: A fee charged to cover third party costs associated with the discharge of your mortgage

• Mortgage Discharge - Pexa Service Fee (Exit), Amount: 42.24. Additional Information: A fee charged to cover third party costs associated with the discharge of your mortgage

• Mortgage Redraw Fee (Transaction), Amount: 30.00. Additional Information: A fee charged to access the redraw facility on your home loan

• Variation Of Security (Event), Amount: 200.00. Additional Information: A fee charged for the variation of security or other loan details, requiring us to issue new documents or re-assess your loan in any way

 Limitations & Restrictions (Constraints)

• Opening Balance of 0.00

• Max Balance of 0.00 Additional Information: Maximum borrowing amount determined by age of the youngest borrower and loan to value ratio. Based on the assessed property value, borrowers may be eligible for the following amounts: Age 60 to 64 - $200,000 (or up to 15% of property value); 65 to 69 - $250,000 (or 20%); 70 to 74 - $300,000 (or 25%); 75 to 79 - $350,000 (or 35%); 80+ - $400,000 (or 40%) - whichever amount is lower in all cases.