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 of the valuation depends on the property but most are between $1,000 and $1,750 plus GST. The valuation will only proceed once it’s been paid for. You will also receive a copy of the valuation once it’s been completed.
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 ...
No, if you have a home loan with us, you will not be able to get a second mortgage on the property. We don’t allow any other borrowed funds to be used towards the purchase of your first home and we don't accept third-party guarantors as added ...
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 ...
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 ...
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 ...