We require a 20% deposit. In other words, we will lend you up to four times the amount of your deposit (as long as your minimum monthly repayments are not more than 35% of your combined household income after tax). For example, if you have a $200,000 deposit you might be able to borrow up to $800,000, which would allow you to buy a house for $1 million.
The maximum we will lend is 80% of the registered valuation of the home, or its sale price, whichever is lower. There is no upper limit on how much we will lend, but we reserve the right to turn down any loan applications at our discretion. The ...
Yes, once you have found a property you would like to buy, you will need to engage a solicitor or conveyancing professional to complete your conveyancing. You’ll be responsible for all your legal costs in purchasing the property. It’s important to ...
Yes, house insurance will be required on the property. You are required to insure the property for its full replacement value with no exclusions or restrictions. “Simplicity Investment Management Limited” needs to be noted on the policy as an ...
Yes, all first home loans (including refinancing) will require a registered valuation addressed to Simplicity Investment Management Limited. We will arrange the valuation with our approved valuer and you will be responsible for paying them. The cost ...
Usually, buying a property at auction is unconditional. If you were to buy the property at auction we would still need to obtain a valuation to finalise your loan. Therefore, you would need to be certain that the property's value is at least what you ...