| LVR |
Up to 50% of property value at settlement
|
| Maximum Term |
7 years LVR Up to 50% of property value at settlement.
Maximum loan $750,000 Higher considered on application.
Minimum loan $100,000
|
| Security |
First charge over residential property;
and Charge over the RAD.
|
| Loan Size |
$100,000-$750,000 Higher considered on application.
|
| Redraw |
Not available, but further advances considered
subject to valuation |
| Acceptable Purposes |
Fund Refundable Accommodation Deposit (RAD)
payable on move to aged care.
|
| Additional permitted purposes |
Repairs to security property.
Repayment of debts/mortgage. Payment of loan set up fees.
|
| Borrower (or under an enduring power of attorney) |
Individuals aged over 80 considering a move into aged care
or already a resident.
(Younger borrowers considered on application
|
| Property options |
Primary residence / Investment property
(Both can be rented out)
|
