Reverse Mortgage Home Loan

General Lending Rates

Product Features

• Digital Banking Additional Information: Transfer or make payments using our mobile app or internet banking. Payments made with PayID or using Osko are received in near real-time.

• Npp Enabled Additional Information: Transfer or make payments using our mobile app or internet banking. Payments made with PayID or using Osko are received in near real-time.

• Redraw Additional Information: Any voluntary repayments can be redrawn fee free.

Product Eligibility

• Min Age - 65. Additional Information: Must be a minimum age of 65

• Natural Person Additional Information: Member must be a natural person rather than another legal entity.

• Other Additional Information: Credit eligibilty criteria, terms and conditions, fees and charges apply.

• Other Additional Information: You must be or become a P&N Bank member

• Residency Status - At Least One Applicant Must Be An Australian Or New Zealand Citizen Or An Australian Permanent Resident. Income For Non-permanent Residents Isn't Included. Australian's Living Overseas Are Eligible Only If They Had Prior Lending With Pnl..

Bank Fees and Charges

• Statement Retrieval Fee (Event), Amount: 2.50. Additional Information: Fee applies for statements over 12 months old. Payable on request to issue a copy of a previously issued statement.

• Loan Establishment Fee (Upfront), Amount: 0.00. Additional Information: No fee for establishment or top-up of the home loan.

• Valuation Fee (Upfront), Amount: 0.00. Additional Information: First valuation is free. Additional valuations are charged to you at the cost we have incurred.

• Legal Fee (Variable), Amount: Not Listed.. Additional Information: Payable at cost when legal advice or services are required over the life of the loan.

• Third Party Document Production Fee (Variable), Amount: Not Listed.. Additional Information: Payable at cost if the Bank incurs costs or had to pay a third party in connection with something that needs to be done under the Loan or Security.

• Search Admin Fee (Upfront), Amount: 25.00. Additional Information: Administration fee charged per loan for obtaining title searches

• Title Consent Fee (Event), Amount: 150.00. Additional Information: Payable when we are requested to consent to a change relating to your title.

• Loan Contract Variation Fee (Event), Amount: 250.00. Additional Information: Charged when we process a variation of your contract or any security such as; substitution, partial release, additional or transfer of security, amendment to the term of a loan or a loan account.

• Discharge Of Mortgage Non-settlement Fee (Event), Amount: 350.00. Additional Information: Charged for the preparation of documents for the discharge of mortgage where no settlement is required.

• Discharge Of Mortgage Settlement Fee (Event), Amount: 395.00. Additional Information: Charged for the preparation of documents for the discharge of mortgage in relation to a settlement.

• Withdrawal Of Caveat Non-settlement Fee (Event), Amount: 55.00. Additional Information: Without settlement per document. When we are requested to remove a caveat lodged on a title.

• Withdrawal Of Caveat Settlement Fee (Event), Amount: 160.00. Additional Information: With settlement per document. When we are requested to remove a caveat lodged on a title.

• Reverse Mortgage Revaluation Fee (Variable), Amount: Not Listed.. Additional Information: Payable to the Bank in reimbursement of the fee the Bank incurs if the Bank requires a revaluation of the Property at any time during the life of the loan.

• Document Preparation Fee (Upfront), Amount: 300.00. Additional Information: Fee for preparation of loan contracts charged at the time of funding or settlement of the loan

• Default Notification Fee (Variable), Amount: Not Listed.. Additional Information: Payable at cost when we issue a default notice because you are in default under the contract.

• Govt Registration Of Mortgage (Variable), Amount: Not Listed.. Additional Information: This fee is payable to the bank in reimbursement of Government charges relating to registration of mortgage on the security property. Amounts are set by the land titles office by each state or territory.

• Govt Discharge Of Mortgage (Variable), Amount: Not Listed.. Additional Information: This fee is payable to the bank in reimbursement of Government charges relating to discharge of mortgage on the security property. Amounts are set by the land titles office by each state or territory.

• Govt Title Search Fee (Variable), Amount: Not Listed.. Additional Information: This fee is payable to the bank in reimbursement of Government charges relating to obtaining title searches on the security property. Amounts are set by the land titles office by each state or territory.

• Property Exchange Australia (pexa) Charges (Variable), Amount: Not Listed.. Additional Information: Payable when we have to register or release of any documents relating to a security electronically, request information or we process a financial settlement using PEXA. Fees are applied as charged by PEXA.

 Limitations & Restrictions (Constraints)

• Max Limit of 300000.00 Additional Information: Maximum loan amount is $300,000

• Max Lvr of 0.35 Additional Information: The maximum Loan to Value Ratio is 35.00%

• Min Limit of 10000.00 Additional Information: Minimum loan amount is $10,000

• Min Lvr of 0.0001 Additional Information: The minimum Loan to Value Ratio is 0.01%