Standard Prime
- Better rates and faster funding
- Cash out option available
- Less documentation required
- Minimal fees
- Quick turnaround time
- Offset accounts, multiple loan split and redraw facility
To qualify for Granite’s Standard Prime Easy Refinance loan package, the Granite Standard Prime loan interest rate, principal and interest repayments should be lower than your client’s current standard prime interest rate and repayments. The application also needs to be logged in Simpology V2.
Standard Prime Easy Refinance Eligibility Criteria (Product Requirements)
- New interest rate must be lower than current rate
- Loan must be settled over 12 months ago and demonstrate last 12 months of good conduct – verified through loan statements
- New P&I repayments must be lower than current P&I repayments
- LVR should be <=80% (inclusive of fees & charges)
- Clear Credit History
- 600 Minimum Credit Score
- Applications via Simpology V2 –
- secure.simpology.com.au
- Select “Granite Home Loans – V2” from the drop down list
Full features
Payments
- Principal and Interest
Security type
- Residential | Refinance of existing property only
Maximum loan term
- 359 months
Maximum LVR
- 80% Residential – Owner Occupied and Investment
Maximum loan amount
- Up to $2,000,000 per security
Minimum loan amount
- $150,000
Residential
- Owner Occupied
- Investment
Rate type
- Variable
- Fixed
Offset account
- Yes
Borrower
Property purpose
- Residential property
Credit history
- Clear credit history
Employment type
- PAYG / self-employed
Acceptable borrowers
- Australian Citizens or permanent residents.
Optional features
- Offset account available
- Optional redraw facilities
- Visa Debit card available
- Multiple loan split option
Repayment features
Repayment frequency
- Weekly
- Fortnightly
- Monthly
Transaction functionality
- Unlimited transactions via internet, phone, BPay, debit card, ATM
Make additional payments
- Unlimited (fixed rate maximum $20,000 p.a.)
Repayment method
- Salary credit/direct debit
Cash out available
- Yes
Exclusions
- No commercial, or residential construction / vacant land
Calculator
Loanapp
All non-Easy Refi applications must be submitted via Simpology Loanapp
All Easy Refi applications must be submitted via Simpology V2 (Choose Granite Home Loans – V2 from the channel drop down list)
