| Further drawdowns/redraws |
Minimum $1,000 (variable rate loans only) |
| Drawdown / redraw fee |
$0 |
| Repayments |
None required until borrowers cease to reside |
| Optional payments |
Minimum of $1,000 (restrictions apply for fixed rate loans) |
| Repayment in full - Involuntary |
No fee |
| Repayment in full -Voluntary |
Sliding scale |
| Fixed rate voluntary repayment |
Economic cost |
| Discharge fee |
$250 |
| Post settlement variations |
$250 |
| Portability |
To another acceptable property |
| Repayment triggers |
Repayment is required within 12 months of both borrowers permanently vacating the property |
| Borrowers rights |
The lifetime tenancy and no negative equity guarantees are contractual rights |
| Borrowers obligations |
Must maintain property and buildings insurance |
| Revaluations |
Completed every three years at no cost to borrower |
