Commonwealth Bank Viridian Line of Credit
Posted June 30th, 2010
and last modified January 31st, 2012
What happens when I click Enquire Now?
- Clicking Enquire Now will take you to the lender's website
- After completing the contact form, a mortgage expert will contact you
- The mortgage expert will ensure you find the right loan, calculate your repayments, and explains all the associated fees
- After going through the enquiry process you will be able to know how much you can borrow, begin your application when you are ready to apply and be approved for a home loan
Some people have more than one debt. These can be in the form of personal loans, tax debts, home loans and many more. If you have many different debts it can take a lot of time to manage them all. The Commonwealth Bank Viridian Line of Credit loan allows you to consolidate all these debts into one convenient loan. In addition to the time you will save managing the loans you can also save money by reducing the account fees you will have to pay with each loan.
Commonwealth Bank Viridian Line of Credit
The Commonwealth Bank Viridian Line of Credit also offers a range of features on top of the advantage of consolidating your loans. These features are:
- Preapproval for your home loan. When you are looking for a home you should use the Commonwealth Bank Viridian Line of Credit pre approval facility. This will ensure that you know your limit on purchasing a home and make the process quicker when you make an offer on a home.
- Redraw facility. If you have paid any money onto the loan this reduces the total value of the loan. If at any time you need extra money you are able to draw upon these funds. You can draw as much money as you want along as it stays under the total amount that was first agreed upon.
- No minimum repayment limit. The Commonwealth Bank Viridian Line of Credit does not require you to pay any of the principal if you don’t want to. As long as the fees and interest charges within the month have been paid you are free to pay extra or use the money for other reasons.
- The loan is portable. Your circumstances may change over the course of the loan. You may use the equity you have accumulated to upgrade your home or you may need to move because of work commitments. If you have to move the Commonwealth Bank Viridian Line of Credit loan can be moved also. This will save you time and the costs of applying for a new loan.
- Fees. The Commonwealth Bank Viridian Line of Credit loan has an upfront loan establishment fee of $600 and a loan service fee of $12 a month. However, if you qualify for the Commonwealth Bank Viridian Line of Credit Great Savings with Wealth package you will enjoy no upfront loan establishment fee and no loan servicing fee.
- You can choose to add on some additional features. The Commonwealth Bank Viridian Line of Credit loan gives you the option to add additional features that can assist you money. These features are:
- A fee free transaction account;
- A pre-approved credit card;
- Loan protection insurance;
- and deposit guarantee options.
Most people will have more than one debt or loan. These can include personal loans, car loans and many others. The Commonwealth Bank Viridian Line of Credit loan allows you to consolidate all these debts into one manageable loan. This can save you money on account keeping fees and other charges and reduce the high interest rates that some short term loans attract. In addition to this you can take advantage of all the features the Commonwealth Bank Viridian Line of Credit loan that will help you save money and get quick access to your money when you need it. Please contact us to find out more about this home loan.
Read the Commonwealth Bank Viridian Line of Credit terms and conditions.
| Minimum Loan Amount | $20,000 | |
|---|---|---|
| Maximum LVR | 80% | |
| Maximum Insured LVR | 90% | |
| Mortgage Offset Account | No | |
| Loan Redraw Facility | Yes | |
| Split Loan Facility | Yes | |
| Fixed Interest Option | No |
| Interest Rate Type | Variable | |
|---|---|---|
| Interest Rate | 7.16% | |
| Repayment Type | Interest Only | |
| Repayment Frequency | Weekly | |
| Extra Repayments | Yes |
| Application Fee | $600 | |
|---|---|---|
| Service Fee | $12.00 | |
| Settlement Fee | $100 | |
| Exit Fee | $350 | |
| Early Termination Fee | $700 |
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