As of 14 October 2009, one direct is no longer offering any new home loans, or variations to existing loan contracts.
Features
| Name | one direct variable loan |
one direct fixed loan |
one direct equity loan |
| Additional Repayments | Yes | Yes - up to $10,000 per annum | Yes |
| Early Repayment | Yes - You can repay your loan in full at any time. Fees and Charges may apply if you fully repay your loan within the first four years | Yes - Fees and charges and early repayment costs apply if you repay your loan during any fixed rate period and within four years of the commencement of your loan. You can repay your loan early without incurring early repayment fees or early repayment costs at any time after four years of the commencement of the loan provided that the fixed rate period has expired | Yes - You can repay your loan in full at any time. Fees and Charges may apply if you fully repay your loan within the first four years |
| Portability | Yes - Conditions apply | Yes - Conditions apply | Yes - Conditions apply |
| Redraw Facility | Yes | NA | Yes |
| Repayment Holiday | Yes - Conditions apply | Yes - Conditions apply | NA |
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Fees
| Name | one direct variable loan |
one direct fixed loan |
one direct equity loan |
| Additional Security Registration Fee | $150.00 | $150.00 | $150.00 |
| This fee is payable if there are mulitple (more than one) security properties securing your one direct loan. | |||
| Currency Conversion Fee | 3% of Transaction Amount | NA | 3% of Transaction Amount |
| This will be charged if you use your one direct debit card attached to your loan account while overseas. | |||
| Default Fee | $20.00 | $20.00 | $20.00 |
| A default fee is payable if the loan is more than $200 in arrears. This fee is payable on the first business day after the loan has been in arrears for 30 days. The fee will be charged every 40 days while the default continues. | |||
| Deferred Establishment Fee | Year 1 and 2 - $1,400 Year 3 and 4 - $1,000 |
Year 1 and 2 - $1,400 Year 3 and 4 - $1,000 |
Year 1 and 2 - $1,400 Year 3 and 4 - $1,000 |
| If you refinance your loan with another institution or repay your loan in full within the first 4 years from the date of advance you will incur the Deferred Establishment Fee. | |||
| Discharge Settlement Fee | $150.00 | $150.00 | $150.00 |
| A discharge settlement fee is payable when we or our representative prepares discharge of mortgage documents and/or attends settlement as a result of your loan being refinanced to another financial institution. | |||
| Document Production Fee | $150.00 | $150.00 | $150.00 |
| A document production fee is payable when we produce the Certificate of Title and/or any other security documents. | |||
| Early Repayment Cost | NA | Yes - Calculation | NA |
| May be payable if and when you pay your loan in full, or make any early or additional repayment which exceeds $10,000 in any year, during any fixed interest rate period. | |||
| Loan Administration Charges | NA | NA | NA |
| An ongoing monthly or annual administration or management charge. | |||
| Outward Dishonour Fee | $6.00 | $6.00 | $6.00 |
| Fee upon dishonour of any payment from your account (eg: if there is unsufficient money in your account to fund a direct debit you have authorised). | |||
| Redraw Fees | NA | NA | NA |
| Repayment Holiday Fees | NA | NA | NA |
| Replacement Debit Card Fee | $15.00 | $15.00 | $15.00 |
| If you request more than one debit card or a replacement card. | |||
| Switching Fee | $200.00 | $200.00 | $200.00 |
| A switching fee will be payable for a change or variation to the security on your existing one direct loan(s) . In the event that you request more than one change, a separate switching fee may be payable for each change. | |||
| Transaction Fees - ATM and EFTPOS | $0.50 Per Transaction | $0.50 Per Transaction | $0.50 Per Transaction |
| This charge is for each ATM or EFTPOS transaction on your one direct loan. | |||
| Transaction Fees - Phone and Internet Banking | NA | NA | $0.50 Per Transaction |
| This charge is for each Phone or Internet Banking transaction on your one direct loan. | |||
| Valuation Administration Costs | $250 Per Valuation | $250 Per Valuation | $250 Per Valuation |
| A Valuation Administration Fee is payable for administration costs incurred when a valuation/price estimate is required for a a change or variation to the security for an existing one direct loan. | |||
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