Construction / Land Rate Watch
Cabernet provide full doc construction loans to 90% LVR (85% for Xpats), while Purple provide both Altdoc and full doc construction loans to 80% LVR.
Ocean, Purple (max 50% LVR) and Redzed all provide vacant land only loans for Altdoc or full doc with no requirement to build.
Alt Doc
Prime
| Loan Type | Loan Name | 50% | 55% | 60% | 65% | 70% | 75% | 80% | 85% | 90% | Effective Date | Clawback | Occupancy | Repayments | Max Term | Max Loan | Notes | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Owner Occupier | ||||||||||||||||||||
| Purple (La Trobe) | Construction - Var | 8.34% (8.73%) $2,000,000 | 8.54% (8.93%) $2,000,000 | 8.74% (9.12%) $2,000,000 | 5 Dec 2023 | - | OO, INV | IO | 29 yrs | $2,000,000 | 1.25% App Fee. Rate during build only, reverts to applicable Altdoc rate when built. Assessed at Revert Rate x 29 yrs. | |||||||||
| Purple (La Trobe) | Construction Max - Var | 8.54% (8.92%) $5,000,000 | 8.84% (9.22%) $5,000,000 | 5 Dec 2023 | - | OO, INV | IO | 29 yrs | $5,000,000 | 1.25% App Fee. Rate during build only, reverts to applicable Altdoc rate when built. Assessed at Revert Rate x 29 yrs. | ||||||||||
| Investor | ||||||||||||||||||||
| Purple (La Trobe) | Construction - Var | 8.34% (8.73%) $2,000,000 | 8.54% (8.93%) $2,000,000 | 8.74% (9.12%) $2,000,000 | 5 Dec 2023 | - | OO, INV | IO | 29 yrs | $2,000,000 | 1.25% App Fee. Rate during build only, reverts to applicable Altdoc rate when built. Assessed at Revert Rate x 29 yrs. | |||||||||
| Purple (La Trobe) | Construction Max - Var | 8.54% (8.92%) $5,000,000 | 8.84% (9.22%) $5,000,000 | 5 Dec 2023 | - | OO, INV | IO | 29 yrs | $5,000,000 | 1.25% App Fee. Rate during build only, reverts to applicable Altdoc rate when built. Assessed at Revert Rate x 29 yrs. | ||||||||||
| NDIS | ||||||||||||||||||||
| Purple (La Trobe) | Bambino Max NDIS Construction - Var | 8.54% (8.92%) $5,000,000 | 8.84% (9.22%) $5,000,000 | 5 Dec 2023 | - | NDIS | IO | 29 yrs | $5,000,000 | 1.25% App Fee |Rate during build only, reverts to applicable Altdoc rate when built | Assessed at Revert Rate x 29 yrs | NDIS that can revert to Std house for max $10k | Std market rental | Residential Val. | ||||||||||
| Purple (La Trobe) | Bambino NDIS Construction - Var | 8.34% (8.73%) $2,000,000 | 8.54% (8.93%) $2,000,000 | 8.74% (9.12%) $2,000,000 | 5 Dec 2023 | - | NDIS | IO | 29 yrs | $2,000,000 | 1.25% App Fee |Rate during build only, reverts to applicable Altdoc rate when built | Assessed at Revert Rate x 29 yrs | NDIS that can revert to Std house for max $10k | Std market rental | Residential Val. | |||||||||
| Vacant Land | ||||||||||||||||||||
| Ocean (ORDE) | Commercial Vacant Land A - Altdoc | 9.99% (10.00%) $2,000,000 | 10.19% (10.28%) $2,000,000 | 18 Apr 2024 | - | VAC | PI | 30 yrs | $2,000,000 | 1.25x ITC | ERF applies individual & company applicants | Cat 1 locations only | No rate loading on Commercial Land (no land banking). | ||||||||||
| Ocean (ORDE) | Diamond Land Altdoc A | 9.84% (9.97%) $1,000,000 | 10.04% (10.16%) $1,000,000 | 10.04% (10.16%) $1,000,000 | 18 Apr 2024 | - | VAC | PI | 30 yrs | $1,000,000 | 1.50% App Fee. | No covenants or construction within 1 yr of land settlement | Max 5 acres – Cat 1 or 2 | 😊😊 | |||||||||
| Purple (La Trobe) | Vacant Land - Altdoc A | 8.34% (8.64%) $2,000,000 | 5 Dec 2023 | - | VAC | IO | 2 yrs | $2,000,000 | 1.25% App Fee | Max 2 Yr Term | Add 0.40% for Int Only | | |||||||||||
Near Prime
| Loan Type | Loan Name | 50% | 55% | 60% | 65% | 70% | 75% | 80% | 85% | 90% | Effective Date | Clawback | Occupancy | Repayments | Max Term | Max Loan | Notes | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Vacant Land | ||||||||||||||||||||
| Ocean (ORDE) | Emerald Land Altdoc B | 10.29% (10.41%) $1,000,000 | 10.59% (10.72%) $1,000,000 | 18 Apr 2024 | - | VAC | PI | 30 yrs | $1,000,000 | No covenants or construction within 1 yr of land settlement | Max 5 acres – Cat 1, 2., 3 or 4. | ||||||||||
| Red (RedZed) | Recharge Land - Altdoc C | 8.94% (9.22%) $1,250,000 | 8.94% (9.22%) $1,250,000 | 8.94% (9.22%) $1,250,000 | 9.29% (9.58%) $1,250,000 | 9.49% (9.77%) $1,000,000 | 1 Dec 2023 | Diminishing 24 mths | VAC | PI | 30 yrs | $1,250,000 | $ Nil App Fee | 0.75% Risk Fee to 70% (then 1.0%) | Max 1 acre - Cat 1 & 2 | No covenants or construction within 2 yrs of settlement |Add 0.15% for Int Only. |6 mth ABN with <2 yrs same industry experience. | |||||||
| Red (RedZed) | Reward Land - Altdoc B | 7.74% (7.99%) $750,000 | 7.79% (8.04%) $750,000 | 7.84% (8.09%) $750,000 | 7.99% (8.26%) $750,000 | 1 Dec 2023 | Diminishing 24 mths | VAC | PI | 30 yrs | $750,000 | $ Nil App Fee | 0.75% Risk Fee to 70% (then 1.0%) |Max 1 acre - Cat 1 | No covenants or construction within 2 yrs of settlement | Add 0.15% for Int Only | 6 mth ABN with >2 yrs same industry experience | 😊😊 | ||||||||
Fixed Rate
| Loan Type | Loan Name | 50% | 55% | 60% | 65% | 70% | 75% | 80% | 85% | 90% | Effective Date | Clawback | Occupancy | Repayments | Max Term | Max Loan | Notes | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Investor | ||||||||||||||||||||
| Purple (La Trobe) | Development Construction $5m | 9.99% (10.13%) $5,000,000 | 5 Dec 2023 | - | INV | IO | 2 yrs | $5,000,000 | Construction of 2 or more dwellings wiith interest capitalisation. Must be SPV. Max 70% GRV / 80% TDC. Max 60% GRV for childcare centres. | |||||||||||
| Purple (La Trobe) | Development Construction MAX $25m | 10.79% (10.93%) $25,000,000 | 5 Dec 2023 | - | INV | IO | 2 yrs | $25,000,000 | Construction of 2 or more dwellings wiith interest capitalisation. Must be SPV. Max 70% GRV / 80% TDC. Max 60% GRV for childcare centres. | |||||||||||
| Purple (La Trobe) | Development Construction MID $15m | 10.49% (10.63%) $15,000,000 | 5 Dec 2023 | - | INV | IO | 2 yrs | $15,000,000 | Construction of 2 or more dwellings wiith interest capitalisation. Must be SPV. Max 70% GRV / 80% TDC. Max 60% GRV for childcare centres. | |||||||||||
Full Doc
Prime
| Loan Type | Loan Name | 50% | 55% | 60% | 65% | 70% | 75% | 80% | 85% | 90% | Effective Date | Clawback | Occupancy | Repayments | Max Term | Max Loan | Notes | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Owner Occupier | ||||||||||||||||||||
| Cabernet (ORIGIN) | FlexiBuild OO - Var Construction | 7.59% (8.06%) $1,500,000 | 7.59% (8.06%) $1,500,000 | 7.69% (8.06%) $1,500,000 | 7.69% (8.16%) $1,500,000 | 7.99% (8.16%) $1,500,000 | 8.49% (9.03%) $1,500,000 | 20 Nov 2023 | 24 mths | OO | PI | 29 yrs | $1,500,000 | IO Rate Loading of 0.80% during construction - removed when reverts to P&I (1 Yr IO + 29 yrs PI) | Offset available when completed | LPF applies all Construction Loans. | ||||||
| Purple (La Trobe) | Construction - Var | 8.34% (8.73%) $2,000,000 | 8.54% (8.93%) $2,000,000 | 8.74% (9.12%) $2,000,000 | 5 Dec 2023 | - | OO, INV | IO | 29 yrs | $2,000,000 | 1.25% App Fee. Rate during build only, reverts to applicable Altdoc rate when built. Assessed at Revert Rate x 29 yrs. | |||||||||
| Investor | ||||||||||||||||||||
| Cabernet (ORIGIN) | FlexiBuild Inv - Var Construction | 7.89% (8.35%) $1,500,000 | 7.89% (8.35%) $1,500,000 | 7.99% (8.35%) $1,500,000 | 7.99% (8.48%) $1,500,000 | 8.29% (8.48%) $1,500,000 | 8.79% (9.35%) $1,500,000 | 20 Nov 2023 | 24 mths | INV | PI | 29 yrs | $1,500,000 | IO Rate Loading of 0.80% during construction - removed when reverts to P&I (1 Yr IO + 29 yrs PI) | Offset available when completed | LPF applies all Construction Loans. | ||||||
| Cabernet (ORIGIN) | MultiBuild Inv - Var Construction | 7.89% (8.35%) $1,500,000 | 7.89% (8.35%) $1,500,000 | 7.99% (8.35%) $1,500,000 | 7.99% (8.48%) $1,500,000 | 8.29% (8.48%) $1,500,000 | 20 Nov 2023 | 24 mths | INV | PI | 29 yrs | $1,500,000 | IO Rate Loading of 0.80% during construction - removed when reverts to P&I (1 Yr IO + 29 yrs PI) | Offset available when completed | LPF applies all Construction Loans | Co-Living | Max 6 rooms | Br must have ensuite & Key Lock | Commercial Val. | |||||||
| Cabernet (ORIGIN) | NDIS FlexiBuild Inv - Var Construction | 7.84% (8.33%) $1,500,000 | 7.84% (8.35%) $1,500,000 | 7.94% (8.45%) $1,500,000 | 8.24% (8.75%) $1,500,000 | 20 Nov 2023 | 24 mths | INV, NDIS | PI | 24 yrs | $1,500,000 | IO Rate Loading of 0.80% (included in displayed rates) during construction - removed when reverts to P&I (1 Yr IO + 24 yrs PI) | Offset available when completed | LPF applies all Construction Loans | Use the rate displayed less 0.80% rate loading for assessment | | ||||||||
| Purple (La Trobe) | Construction - Var | 8.34% (8.73%) $2,000,000 | 8.54% (8.93%) $2,000,000 | 8.74% (9.12%) $2,000,000 | 5 Dec 2023 | - | OO, INV | IO | 29 yrs | $2,000,000 | 1.25% App Fee. Rate during build only, reverts to applicable Altdoc rate when built. Assessed at Revert Rate x 29 yrs. | |||||||||
| NDIS | ||||||||||||||||||||
| Cabernet (ORIGIN) | NDIS FlexiBuild Inv - Var Construction | 7.84% (8.33%) $1,500,000 | 7.84% (8.35%) $1,500,000 | 7.94% (8.45%) $1,500,000 | 8.24% (8.75%) $1,500,000 | 20 Nov 2023 | 24 mths | INV, NDIS | PI | 24 yrs | $1,500,000 | IO Rate Loading of 0.80% (included in displayed rates) during construction - removed when reverts to P&I (1 Yr IO + 24 yrs PI) | Offset available when completed | LPF applies all Construction Loans | Use the rate displayed less 0.80% rate loading for assessment | | ||||||||
| Vacant Land | ||||||||||||||||||||
| Ocean (ORDE) | Commercial Vacant Land A - FD | 9.59% (9.66%) $2,000,000 | 9.64% (9.72%) $2,000,000 | 18 Apr 2024 | - | VAC | PI | 30 yrs | $2,000,000 | 1.25x ITC | ERF applies individual & company applicants | Cat 1 locations only | App Fee 1.65% | | ||||||||||
| Ocean (ORDE) | Diamond Land - Full doc A | 9.69% (9.79%) $1,000,000 | 9.84% (9.94%) $1,000,000 | 9.84% (9.94%) $1,000,000 | 18 Apr 2024 | - | VAC | PI | 30 yrs | $1,000,000 | No covenants or construction within 1 yr of land settlement | Max 5 acres – Cat 1 or 2 | Can use 1 Yr ITR -need most recent BAS from Jan-June. 😊😊 | |||||||||
| Purple (La Trobe) | Vacant Land - Full Doc A | 8.34% (8.64%) $2,000,000 | 5 Dec 2023 | - | VAC | IO | 2 yrs | $2,000,000 | 1.25% App Fee | Max 2 Yr Term | Add 0.40% for Int Only | Can use 1 Yr ITR | |||||||||||
Near Prime
| Loan Type | Loan Name | 50% | 55% | 60% | 65% | 70% | 75% | 80% | 85% | 90% | Effective Date | Clawback | Occupancy | Repayments | Max Term | Max Loan | Notes | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Vacant Land | ||||||||||||||||||||
| Ocean (ORDE) | Emerald Land - Full Doc B | 9.99% (10.09%) $1,000,000 | 10.09% (10.19%) $1,000,000 | 10.09% (10.19%) $1,000,000 | 18 Apr 2024 | - | VAC | PI | 30 yrs | $1,000,000 | No covenants or construction within 1 yr of land settlement | Max 5 acres – Cat 1, 2., 3 or 4 | Can use 1 Yr ITR -need most recent BAS from Jan-June. 😊😊 | |||||||||
| Red (RedZed) | Recharge Land - Full doc C | 8.54% (8.82%) $1,250,000 | 8.54% (8.82%) $1,250,000 | 8.64% (8.92%) $1,250,000 | 8.84% (9.12%) $1,250,000 | 9.04% (9.32%) $1,000,000 | 1 Dec 2023 | Diminishing 24 mths | VAC | PI | 30 yrs | $1,250,000 | $ Nil App Fee | 0.75% Risk Fee to 70% (then 1.0%) | Max 1 acre Cat 1 & 2 | No covenants or construction within 2 yrs of settlement |Add 0.15% for Int Only | 6 mth ABN with <2 yrs same industry experience | Can use 1 Yr ITR if SE <2yrs. | |||||||
| Red (RedZed) | Reward Land - Full doc B | 7.59% (7.84%) $750,000 | 7.64% (7.89%) $750,000 | 7.69% (7.94%) $750,000 | 7.84% (8.11%) $750,000 | 1 Dec 2023 | Diminishing 24 mths | VAC | PI | 30 yrs | $750,000 | $ Nil App Fee| 0.75% Nil Risk Fee to 70% (0.35% >70%) | No covenants or construction within 2 yrs of settlement | Add 0.15% for Int Only | 6 mth ABN with >2 yrs same industry experience | Can use I Yr ITR if SE <2yrs. 👌 | ||||||||
Fixed Rate
| Loan Type | Loan Name | 50% | 55% | 60% | 65% | 70% | 75% | 80% | 85% | 90% | Effective Date | Clawback | Occupancy | Repayments | Max Term | Max Loan | Notes | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Owner Occupier | ||||||||||||||||||||
| Cabernet (ORIGIN) | 3 Yr Fixed - Construction Special - Owner Occupied | 7.39% (7.93%) $1,500,000 | 7.39% (7.93%) $1,500,000 | 7.39% (7.98%) $1,500,000 | 20 Nov 2023 | 24 mths | OO | PI | 29 yrs | $1,500,000 | IO Rate Loading of 0.80% during construction - removed when reverts to P&I (1 Yr IO + 29 yrs PI). | Offset available when completed. | Annual Fee: $395 pa. | OO Only. | Risk FEE (CRF) >75% = 0.50%; | 80% =1.0% | 85% = 2.0% | (paid upfront Year 1, then monthly @ 1/12th of CRF pm thereafter. | |||||||||
| Cabernet (ORIGIN) | 5 Yr Fixed - Construction Special - Owner Occupied | 7.39% (7.93%) $1,500,000 | 7.39% (7.93%) $1,500,000 | 7.39% (7.98%) $1,500,000 | 20 Nov 2023 | 24 mths | OO | PI | 29 yrs | $1,500,000 | IO Rate Loading of 0.80% during construction - removed when reverts to P&I (1 Yr IO + 29 yrs PI). | Offset available when completed. | Assessed @ 5 Yr Fixed Rate x 29 yrs. | Annual Fee: $395 pa. | OO Only. | Risk FEE (CRF) >75% = 0.50%; | 80% =1.0% | 85% = 2.0% | (paid upfront Year 1, then monthly @ 1/12th of CRF pm thereafter. 😊 | |||||||||
| Investor | ||||||||||||||||||||
| Cabernet (ORIGIN) | 3 Yr Fixed - Construction Special - Investment | 7.69% (8.22%) $1,500,000 | 7.69% (8.22%) $1,500,000 | 7.69% (8.27%) $1,500,000 | 20 Nov 2023 | 24 mths | INV | PI | 29 yrs | $1,500,000 | IO Rate Loading of 0.80% during construction - removed when reverts to P&I (1 Yr IO + 29 yrs PI). | Offset available when completed. | Annual Fee: $395 pa. | OO Only. | Risk FEE (CRF) >75% = 0.50%; | 80% =1.0% | 85% = 2.0% | (paid upfront Year 1, then monthly @ 1/12th of CRF pm thereafter. | |||||||||
| Cabernet (ORIGIN) | 5 Yr Fixed - Construction Special - Investment | 7.69% (8.77%) $1,500,000 | 7.69% (8.77%) $1,500,000 | 7.69% (8.77%) $1,500,000 | 20 Nov 2023 | 24 mths | INV | PI | 29 yrs | $1,500,000 | IO Rate Loading of 0.80% during construction - removed when reverts to P&I (1 Yr IO + 29 yrs PI). | Offset available when completed. | Assessed @ 5 Yr Fixed Rate x 29 yrs. | Annual Fee: $395 pa. | OO Only. | Risk FEE (CRF) >75% = 0.50%; | 80% =1.0% | 85% = 2.0% | (paid upfront Year 1, then monthly @ 1/12th of CRF pm thereafter. | |||||||||