Our classic home loan products with modern features, good old fashioned service and options for a unique tailored approach. CUSTOMER GUIDE RETRO
Who is AFG Home Loans? AFG Home Loans has a range of home loans for you to choose from with competitive rates and different features allowing you to choose a product that is right for you. We are all about home loans. AFG Home Loans is part of the Australian Finance Group Ltd (AFG) group of companies. AFG is one of Australia s largest providers of mortgage broking services and as part of AFG s business, AFG Home Loans keeps up to date with the latest product developments. We make sure our own home loan products are as competitive as possible offering the features you want in a complete loan package. Fully featured. Our range at AFG Home Loans includes products with different features such as a redraw facility 1 and a 100% offset facility you can use to reduce interest on your loan (subject to terms & conditions). You can have easy access to cash via ATM networks, BPay and the option of a Visa Debit card, depending on the product you end up choosing, or you can choose to retain the transactional banking you already have in place. In other words you can keep your savings and credit cards as is with your existing lenders, taking away all the hassle and headaches of changing account details and credit card numbers. 1. Subject to loan terms. Only available if 100% Offset Facility is selected with the loan.
Personal customer service. When choosing a loan, one of our brokers will come to you, answer any questions you may have and identify the right loan for your situation. Your broker will help you fill out your paperwork and see your loan through to settlement. We can even help process your First Home Owners Grant if you are eligible to receive one. We focus on providing you with the very best customer service over the phone with real people talking to you from our real Australian offices, and of course full access to the convenience of internet banking. You can rely on us. AFG lodges around $4.4 billion worth of loan finance every month through its 2600 plus brokers across the country. AFG has been around since 1994 and has grown to become one of the largest providers of mortgage broking services in Australia. So yes, AFG is big, but through AFG Home Loan we re nimble and we focus on each and every one of our clients to ensure they are leveraging the benefits our products can bring. We pride ourselves on offering our clients products with competitive interest rates with great features, low fees and top notch customer service. Retro Home Loan The low fee basic home loan with no annual fee. Retro Low Doc Our full featured home loan for self employed borrowers. Go Full Doc Our fully featured near prime home loan. 100% Offset Facility Go Low Doc Our near prime home loan for self employed borrowers. Go Plus Full Doc Our fully featured near prime home loan with a flexible credit policy. 3
AFG Home Loans Retro Welcome to our Retro Home Loan; a simple, easy to understand variable rate home loan with low upfront costs and no annual fee, where you don t pay for frills that you don t need. Our Retro Home Loan provides 24/7 online access (subject to availability), an optional 100% offset facility (subject to terms & conditions) and your own dedicated mortgage broker to help you along the way. You may not have heard our name before, and there s a good reason. We don t spend money on expensive ad campaigns and we don t have a branch on every street corner. We focus our efforts and our resources on doing what we do best; home loans. Our loan structures, competitive interest rates and top notch customer service are proof of our commitment to each and every one of our clients. Simply speak with your AFG broker to find out more about the Retro Home Loans and how we can help you.
Offset Facility Option Using the optional offset facility with your Retro Home Loan can help reduce the interest payable on your nominated home loan. Speak to your mortgage broker for information about how it works and how to effectively use your offset facility. The Retro offset facility comes at no extra cost, simply advise your broker during your application that you would like to take advantage of this option. Tailored Lending Our Retro Go products give home loan options to those who may not fit the criteria of a standard home loan. Retro Go caters to both PAYG and self employed borrowers, offering a unique common sense approach to lending with low doc and full doc options as well as access to our offset facility at no extra cost. Talk to your AFG broker today if you would like more information about Retro Go home loans. Optional Interest Only Period Investor applicants are able to apply for interest only periods of one to five years. After this time, repayments will revert to principal and interest. Please note, redraw is not available on interest only home loans. 5
What can the Retro Home Loan offer you? 1. The Retro Home Loan is a classic home loan product with simple features and straightforward functionality, where you don t pay for extra frills that you don t need. 2. The peace of mind knowing your broker is always there to help, with a direct line of communication open at any time. Throughout the life of the loan an AFG broker is able to help you with any questions you have on interest rates or loan changes or other updates to help you stay two steps ahead. 3. Our dedicated Australian Customer Service team is available via email or phone and trained to provide the good old fashioned service that we pride ourselves on. 4. We don t pay for large ad campaigns and expensive bank branches. Instead we focus on low fees and competitive interest rates. 5. Access your accounts online 24/7 (subject to availability) with our online banking website. 6. The Retro Home Loan has optional redraw and offset facility features (subject to terms & conditions) and provides flexible options to manage your home finance. 7. Make additional repayments to your home loan as you like with no limit on the amount of funds you can voluntarily repay. Speak to your AFG broker to find out more about AFG Home Loans Retro. 6
Retro Features PRODUCT FEATURES RETRO HOME LOAN LOW DOC HOME LOAN Description Variable rate product with 100% Offset Facility and low doc option Owner Occupied/Investment Both Interest Rate based on Loan Characteristics - Loan size and LVR Construction/Vacant Land No Acceptable security Upfront Fees Residential Cat 1 & 2 Genworth locations Settlement fee plus legal disbursements S&P residential metro only (no inner city or non-metro) Settlement fee, valuation costs plus legal disbursements Annual Fee No $330 Repayment Options Monthly 1 Principle and Interest/Interest Only Both 2 Ability to make additional payments Manual Redraw 3 Electronic Redraw 4 Transactional functionality Access to funds in the 100% Offset Facility is via ATM, EFTPOS, VISA Merchants & Internet Banking Splits available Up to 4 Portability Minimum Loan Amount $100,000 Maximum Loan Amount $1,000,000 $750,000 Minimum Loan Split $20,000 Minimum Increase $20,000 Maximum Loan Term 30 years Maximum LVR 90% inc LMI 70% LMI approval for LVR above 70% N/A LMI payable above 80% N/A PAYG/Self Employed Self Employed Only Debt consolidation - Maximum of 4 debts Cashout restrictions Max $100K cashout non controlled - specified purpose always required Individuals, Companies, Trusts Repayment method - Salary credit/direct debit 100% Offset Facility 5 Visa Debit Card 6 BPAY 6 1. Principal and interest repayments are due each calendar month on the anniversary date of the loan advance. Interest only repayments are due on the first day of each calendar month after the loan advance. Payments must be paid by Direct Debit from client s bank account. More frequent payments are permitted and additional repayments may be made at any time. 2. Interest only available on investment loans only. Interest only periods are 1-5 years, after which repayments will convert to principal and interest for the remainder of the loan term. Redraw is not available on interest only loans. Redraw is only available from a linked 100% Offset Facility. 3. Subject to loan terms. Only available if 100% Offset Facility is selected with the loan. 4. All electronic redraws are subject to loan terms. Only available if 100% Offset Facility is selected with the loan. 5. Enables everyday transactions via linked loan sub account. The Offset Sub Account balance offsets against the balance of the home loan. Access to funds in the offset portion is via ATM, EFTPOS, VISA Merchants & Internet Banking. The Offset Sub Account is also known as a 100% Offset Facility. 6. Only available if 100% Offset Facility is selected. 7
Go Features PRODUCT FEATURES GO LOW DOC GO FULL DOC GO PLUS FULL DOC Interest rate based on loan characteristics Max LVR 70% Including risk fee Risk Fee determined by LVR Upfront Fees Settlement fee, valuation costs and plus legal disbursements Annual Service Fee $330 Loan Purpose Owner Occupier or Investment Repayment Options Monthly 1 Principal and Interest/Interest Only Both 2 Loan Term 8-30 years Cashout to Max LVR Max $100,000 cashout non controlled - specified purpose always required Acceptable Security - S&P Metro Only (no inner city or non metro) Minimum Loan Amount $200,000 Maximum Loan Amount $750,000 Minor Impairments Up to $1,000 of defaults, Judgements paid/unpaid Impairments Registered > 24 months ago Unlimited paid/unpaid Impairments Registered > 12 months ago No Discharge from Bankruptcy (1 Day) No 30 days or less mortgage arrears (last 6 months) No Payment of Tax Debts Income - PAYG No 2 Payslips plus one other: Letter of Employment / Group Certificate / Notice of Assessment / 3 months of statements Income Self Employed ABN 24 months / GST Registered / Customer Financial Declaration plus two of: 2 Yrs Financials plus Notice of Assessment 6 month Business Statement / 6 month BAS / Accountant Declaration Debt Consolidation - Unlimited Unlimited Redraw - Minimum manual redraw of $3,000 3 Electronic Redraw 4 100% Offset Facility 5 Splits (Max 4) Max of 4 Internet Banking - including Bpay VISA Debit & BPay 6 1. Principal and interest repayments are due each calendar month on the anniversary date of the loan advance. Interest only repayments are due on the first day of each calendar month after the loan advance. Payments must be paid by Direct Debit from client s bank account. More frequent payments are permitted and additional repayments may be made at any time. 2. Interest only available on investment loans only. Interest only periods are 1-5 years, after which repayments will convert to principal and interest for the remainder of the loan term. Redraw is not available on interest only loans. Redraw is only available from a linked 100% Offset Facility. 3. Subject to loan terms. Only available if 100% Offset Facility is selected with the loan. 4. All electronic redraws are subject to loan terms. Only available if 100% Offset Facility is selected with the loan. 5. Enables everyday transactions via linked loan sub account. The Offset Sub Account balance offsets against the balance of the home loan. Access to funds in the offset portion is via ATM, EFTPOS, VISA Merchants & Internet Banking. The Offset Sub Account is also known as a 100% Offset Facility. 6. Only available if 100% Offset Facility is selected. 8
Reduce your interest costs with your 100% Offset Facility.* The AFG Home Loans Retro Home Loan comes with an optional 100% Offset Facility*. The Offset Facility is a transactional sub-account linked to your home loan account. When the interest is calculated on your mortgage, you are charged on the balance owing on your home loan minus the balance of your 100% Offset Facility. Enables everyday transactions via a linked loan 100% Offset Facility. Access to funds available via ATM, EFTPOS, VISA Merchants & Internet Banking FEES No ongoing service fees for the Offset Facility Unlimited free VISA Merchant transactions (where credit is chosen on the point of sale terminal and/or the customer signs for the transaction/purchase) 20 free EFTPOS, Internet & Direct Service (External Debits) transactions per calendar month, then 50c per transaction thereafter. ATM Transaction fees are charged at point of transaction and are unascertainable, however all ATM Transactions conducted via the RediATM network are fee free to the customer. Interest Charged On Balance Loan Balance Outstanding $250,000 $220,000 100% Offset Facility Balance $30,000 Therefore, the higher the balance of your Offset Facility, the less interest will be charged on your new loan*. The AFG Home Loans Retro Offset Facility comes at no extra cost, with your Retro Home Loan*. For more information on how it works and how to effectively use your Offset Facility, please contact your AFG broker. *An Offset Facility is only available with any variable interest Retro Home Loan. The Offset Facility is a subaccount linked to your nominated loan account. The Offset Facility forms part of your loan account. AFG Home Loans can debit the Offset Facility with any amounts lent to you or due under your mortgage. Having an Offset Facility does not automatically give you a right to redraw from that Offset Facility. If you have a re-draw facility on your home loan and have made payments into your Offset Facility above your minimum repayment, you may withdraw those extra payments if: You have not defaulted under your loan agreement; The redraw facility has not been suspended or cancelled; and No other redraw restrictions apply to your loan contract. 9
To find out more about the modern features with good old fashioned service of the Retro Home Loan, visit retro.afghomeloans.com.au or talk to your AFG broker today. Please note this information is general. The terms and conditions of particular loans differ. Product terms and conditions may change. AFG Home Loans Pty Ltd is the manager of AFG Home Loans Retro. Issued July 2015 by AFG Home Loans Pty Ltd ACN 153 255 559; Australian Credit Licence 411913. RETRO