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New Loan Product Advantage Plus
In response to recent feedback from The Rock’s customers, we have released a new loan product called Advantage Plus.
The new loan is designed to simplify and consolidate the features of two previous loan products, the ‘No Frills’
and ‘Advantage’ loans.
Whilst these will remain available for additional advances, new borrowers looking for a ‘Basic Variable’ type of home
loan will be able to enjoy the following features and benefits offered by Advantage Plus.
- No monthly loan fee
- No redraw fee (Minimum redraw $1,000)
- Customer only pays Lenders Mortgage Insurance upfront when the Loan to Valuation Ratio is greater than 80%
- Customer can make unlimited additional repayments without penalty, unless fully repaid within 4 years
- Application Fee of $600
The new Advantage Plus product became effective for all new applications received from 1 May 2007. Contact one of our friendly Customer
Service Officers on 1800 806 645 for information on how the changes affect applications received before this date.
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