residential loan variation request

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Loan Variation Request (tick as required) • Increase loan amount Complete sections G, I, J, K, L and M. • New loan request Complete sections H, I, J, K, L and M. • Change/Split loan (including applying for Interest Rate discount) Complete sections A, B, L, and M. • Change repayment type Complete sections B, L, and M. • Change loan term Complete sections C, I, L, and M. • Substitution of loan security Complete sections D, L, and M. • Partial Release of loan security Complete sections E, L, and M. • Remove or change borrower(s)/guarantor name Complete sections F, I, J, K, L, and M. • Hardship relief under consumer credit code Complete sections C, I, J, K, L, and M. Loan Account Variation Fee Guide This is a guide to fees for variations to your loan account. We will advise you of the total fees and date payable. Note; if your request includes multiple variation then a reduced combination fee may apply. Valuation Fee: $200 (see point 3) Product Switch (including change of repayment type, $250 (see point 5) change to your loan term) Loan Increase $250 Substitution of security $250 Interest Rate Discount $250 Partial release of security $250 Removal or change of borrower(s)/guarantor(s) name $250 1. Additional legal costs/government charges may be payable for variation requests. 2. The fees above are non-refundable except in the case of declined credit assessment, and are due on or prior to settlement. 3. A valuation fee, usually $200 per property may apply to loan variations (subject to the date of previous valuations and overall loan-to-value ratio). A higher fee may apply dependent on the value and location of the property. This fee is non-refundable and payable on or before settlement. 4. There may be other fees associated with variations to your loan account. These fees will be payable on or prior to settlement. 5. If you repay a portion or all of your fixed rate loan early, break costs may apply. Break costs may be substantial. You should contact us for an estimate, or the amount, of break costs if you are considering making a payment or switching to another interest rate type. Section A Change/Split Loan Product Please specify account number(s) this change is applicable to: If you wish to transfer only a portion of your existing loan, please specify amount $ Please change to: Mortgage Simplifier $ Fixed Rate $ 1yr 2yr 3yr 4yr 5yr Smart Home Loan $ (please note NIVA limit) NIVA# limit required $ Action Equity Loan $ Lo Doc Standard Variable Rate* $ Lo Doc Smart Home Loan* (please note NIVA limit) $ NIVA# limit required $ * If you have a Lo Doc loan, you are only permitted to switch to another Lo Doc loan (i.e. Lo Doc Standard Variable Rate or Lo Doc Smart Home Loan). # Nil Interest Visa Account. Limit is the lower of 3% of total loan amount or $10,000. Please note NIVA funds not available for settlement. WARNING: If you switch to a fixed rate loan or you have a fixed rate loan, break costs may be payable if, during the fixed interest period applying to your loan, you pay out your loan or you make additional payments of $10,000 or more in any one year period, or you change the interest rate applying to your loan to another type of rate. Break costs may be substantial. If you have a fixed rate loan, you should contact us for an estimate, or the amount, of break costs if you are considering making a payment or asking us to change your interest rate to another type of rate during the fixed interest period. Please refer to your Terms and Conditions for further details. Interest Rate Discount If borrowing $300,000 or more in aggregate, or if you have borrowings of $300,000 or more in aggregate do you want to apply for a SmartPack discount (a fee applies).^^ Yes No ^^ Aggregation excludes Lo DOC and Commercial products. A discount is available on Mortgage Simplifier and Smart Home Loan products. Further details available at www.ingdirect.com.au. Page 2 of 12 ING DIRECT is a division of ING Bank (Australia) Limited | ABN 24 000 893 292 | INGD IM118 06/09
Section B Change/Split Loan Product Please specify account number(s) this change is applicable to: Please change repayment type to: Principal and Interest Fortnightly OR Monthly Interest Only* 1yr 2yr 3yr 4yr 5yr * For interest only loans monthly repayments are required. Section C Change Loan Term Please specify account number(s) this change is applicable to: Please change the loan term to years. Not applicable for Action Equity, Smart Home Loan or Lo Doc Smart Home Loan. Section D Substitution of Loan Security Please specify account number(s) this change is applicable to: Please substitute the existing property at: Street Address Suburb State Postcode with the following property located at: Street Address Suburb State Postcode Purchase price/value $ Proposed settlement date (DD/MM/YY) / / Please supply copies of the sale and/or purchase contracts. Please also supply your solicitor’s (or representative’s) details below, if they are not shown on the contracts. Contact name Company name Phone No. Street address Fax No. Suburb State Postcode Post settlement address (if changed) Street Address Suburb State Postcode Page 3 of 12 ING DIRECT is a division of ING Bank (Australia) Limited | ABN 24 000 893 292 | INGD IM118 06/09
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