Collins Securities Low Doc Standard

The Collins Securities Low Doc Standard home loan is an ideal mortgage for home buyers looking for a home loan with a competitive interest rate and minimum of documentation to refinance, or finance, no more than 60 percent of the value of their property. If you are dissatisfied with your present lender for any reason, especially if you feel you are paying too much in interest, this is the loan you have been looking for.

A Collins Securities low doc standard mortgage is a flexible long term home loan that allows you to make additional payments any time you have the extra funds available, it also has an online redraw feature where you can redraw these extra funds when the need arises.

Being a low documentation home loan you will not be hamstrung with having to present proof of your regular earnings or your taxation returns, although you will be subjected to self verification to show you are capable of making the required repayments such as at least two years registration of your Australian Business Number (ABN). For these reasons it is an ideal home loan if you are self employed or a casual worker whose income is irregular as well as for individuals, companies and trusts, especially those looking to refinance into a cheaper interest rate.

Some of the main features that make up the Collins Securities Low Doc Standard home loan include the following:

• It is a variable principal and interest loan but you can arrange an interest only period of from two to ten years if it is of benefit to you.
• Loan mortgage insurance can be capitalized and standard residential first mortgage security is accepted as full security.
• The maximum loan term is 30 years, although this will depend on your negotiations regarding your needs and ability to repay the loan faster, as there is an early repayment fee to pay if you should repay the loan before the agreed contract date.
• The minimum amount you can borrow in $30,000 but you can obtain the loan for valuations up to $1,000,000 if required, as long as you take into account the maximum loan to value ratio (LVR) of 80%.

Collins Securities Low Doc Standard account management

As with all Collins Securities home loans you can manage the day to day transactions of the account yourself online. This means that the account is available to you 24 hours a day seven days a week.
It can be linked to an offset savings account, meaning that you pay less interest if you are able to keep a reasonable balance in your offset savings account. The balance in your offset savings account will be offset against the balance owing on your mortgage. This is a great way to make your money work for you as the interest earned by your savings held in the offset account is not taxable.
You can make additional payments into the account at any time you have extra funds available and you also have the benefit of having an online redraw facility where you can redraw these extra payments if the need arises.

You will have debit card access to ATM’s and EFTPOS and you will be able to pay your bills from your account through BPAY.

Repayments can be arranged to be made on a weekly, fortnightly or monthly basis depending on your own circumstances.

Collins Securities Low Doc Standard home loan set up costs

Costs involved in the management of your Collins Securities low doc standard home loan involve the following:

• There is an application fee of $600 but this cost includes the valuation and legal charges that are included.
• There is also a pre-approval fee of $100 if you wish to have pre-approval before you start negotiating the purchase price on the home you wish to buy.
• You can redraw funds online free of charge but if you want to redraw manually there is a manual redraw fee of $50 charged.

How to make application for a Collins Securities Low Doc Standard home loan

There are several way to apply for a Collins Securities low doc standard mortgage but the easiest is online. The online application form has been especially designed to be conveniently completed online and you can save the form to your desktop if you wish. You can also link onto it inside the Collins Securities web page where you can complete it in your own time.

Collins Securities Low Doc Standard home loans can be an ideal mortgage for you if you have been looking to refinance your existing mortgage. The interest rate is very competitive and many features have been retained to help you manage your finances easier.

Read the Collins Securities Low Doc Standard terms and conditions.

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