Welcome to Owenlaw Mortgage Investment

Product Update (effective 1 January 2009) Income Producing Commercial Property Delivered from 10.25%				Owenlaw Mortgage Investment 55–57 Cardigan Place, Albert Park, Victoria 3206 Postal address: PO Box 216, Albert Park, Victoria 3206 Telephone 1300 856 600 Facsimile 1300 856 685 Email Click here to send an email
•	Residential, Commercial and Construction	•	Maximum 75% LVR
•	First Mortgage only	•	Establishment fee: 1% of the loan amount
•	Maximum 2 years but renewable thereafter	•	Trail commission paid monthly
•	Loan size: $75,000 to $8 million	•	Flexible lending criteria
•	Metropolitan and Major Regional Centres	•	Short term loans available
•	Early repayments available	•	Interest Retention available
•	Mortgage Insurance is not required	•	Fast approval & settlement

Loan Ratios
	Property Type	Capital Cities¹ Current Market Value (CMV)	Major Regional Centres ² (CMV)	Regioal Metropolitan³ (CMV)

	Residential – Luxury	75%*	60%	–

	Residential Investment	75%*	60%	–

	Commercial	75%	60%	–

	Land - Residential	66.6%	50%	–

	Land - Commercial	66.6%	50%	–

	Construction - Residential	66.6-70%	50%	–

	Construction - Commercial	66.6-70%	60%	–


1.	Capital Cities = Metropolitan Melbourne, Sydney, Brisbane, & Adelaide.
2.	Major Regional Centres = VIC – Ballarat, Mildura, Bendigo, Shepparton & Whittlesea QLD – Beenleigh, Gold Coast, Toowoomba, Hervey Bay, Bundaberg, Gladstone, Rockhampton, Cairns & Townsville. SA – Victor Harbour, Murray Bridge & Mount Gambier NSW - Coffs Harbour, Lismore, Batemans Bay, Albury & Wagga Wagga.
3.	Regional Metropolitan – Victoria only, population over 5,000 persons
4.	Construction – Loans from $100,000 – $2.5 million: Max LVR 70%; Loans from $2.5 million – $8 million: Max LVR 66.6%.
*	75% LVR is only available to borrowers with full financials and interest for the term of the loan is retained by us. The loan, with interest retention, will not exceed 75% LRV.

Security which is Not Acceptable:
•	Properties of a specialised nature e.g. hotels, motels, rural property in NSW, petrol stations, specialised zoned properties, income producing farm land, water rights.
•	Owner-Builder construction projects
•	All Property in Western Australia, Canberra & Northern Territory
•	Credit Code loans

Delivery Rates

	Property Type	*Delivery Rate

	Residential – Luxury	10.25%

	Residential Investment	10.25%

	Commercial	10.25%

	Land – Residential	10.25%

	Land – Commercial	10.75%

	Construction – Residential	10.75%

	Construction – Commercial	10.75%


*	Delivery Rate does not include a trailing commission or upfront fees. Add your trailing commission to the delivery rate. We will require a mandate to be signed by the borrower for any upfront commission which will be deducted at settlement.

Serviceability: In addition the borrower must establish that they have the income or cash flow available to them to be able to pay our interest every month. This can be proven as follows:
1.	Original copies of ATO tax assessment notices and Tax returns for the previous 2 financial years;
2.	Copy of the income tax running balance account issued by the ATO for the past 4 years;
3.	6 months historic bank statements showing the declared income being credited to that account;
4.	A copy of the past 6-months bank statements for the loan if it is being re-financed;
5.	In the case of the Borrower declaring rental income, we will require the past 6 months rent statements along with a copy of the lease.
For a construction loan the applicant must be able to demonstrate that they the balance of any funds required to be able to complete the project, excluding the amount of our loan. The borrow must include as part of their application A copy of the fees schedule for the development, inclusive of council contribution fees, contingency, professional fees, stamp duty, legal fees and marketing.

We will consider applications without financial records at a reduced LVR and to be assessed on their merits.
Interest Retention:	If requested then interest for the term of the loan is placed in a at call account bank deposit, with monthly withdrawals to meet interest payments.
Security:	First Mortgage only Directors’ guarantees to support a company borrower Debenture charge from a company borrower will be required Collateral security may be required
Fees (excluding GST):	1% establishment fee
Repayments:	Loans are offered on an interest only basis, interest payable monthly. Part principal repayments allowed.
Applications:	All loan applications must be made on an Owenlaw Application Form.