Frequently Asked Questions

We offer a wide range of mortgage products, including products requiring varying levels of documentation (full doc, low doc and no doc), fixed and variable rate loans and interest only loans.

What makes us different is our ability to offer a loan that suits the needs and specific circumstances of the borrower.

A full doc loan (Star) requires full documentation to verify the applicant’s income, for example payslips for a PAYE applicant or business financials for a self-employed applicant. This loan is most suitable for borrowers who can easily provide verification of income, as interest rates are generally lower under a full doc loan.

A low doc loan (Nova) is for self-employed applicants who are unable to provide business financials, but can provide some supporting documentation of their income. This loan is suitable for borrowers who are self-employed (with a minimum of 12 months’ GST registration) and haven’t prepared current taxation returns, but who can provide alternative verification of income, e.g., Bank statements.

A no doc loan (Private) is one where no income documentation is generally required. This loan is suitable for borrowers who want a short term facility of at least six months and do not have full documentation available.

Variable rate means the interest rate on your loan is floating and moves up or down depending on market forces.

Yes. We offer fixed rate terms of six months on our Private (no doc) loans. A loan of this nature provides a borrower with certainty because their monthly repayment for the duration of the fixed interest period will not change. At the end of the fixed rate period, the loan is repaid, or a further six month period may be requested.

Yes. In the case of variable rate loans, we offer an interest only option for up to five years before reverting to Principal and Interest repayments. All Private loans are offered on a fixed/ interest only basis.

Yes, depending on the type of loan that you have. Please refer to the Terms & Conditions in your loan contracts. Additional repayments can be made via:

• Direct Debit; or
• At our nominated bank via paper deposit slip
• By internet banking - contact us for details
  

Your first loan repayment is generally one month after settlement date unless you chose to have your repayments made weekly or fortnightly. In that case, they will start one week or one fortnight after the settlement date.

Yes, for full and low doc loans. If the new property is at least equal in value and quality to your existing security property, and meets our lending guidelines as an acceptable replacement security, your mortgage may be transferable to the new one. Fees and charges may apply.

Yes. We will accept more than one property as security.

Yes. We will have one of our accredited valuers complete a valuation. A valuation fee applies for each property valued.

Yes. In order to accurately assess your loan application we need to know your credit history. Liberty is not able to access this information until we receive a fully completed and signed application form, which includes your express permission to review your credit history.

If you are concerned you might have trouble making a repayment, please call our Customer Service Team as soon as you can. The sooner we are aware of an issue or potential problem, the sooner we may be able to assist in finding a workable solution.

Different loans feature different fees, some of which are charged by Liberty and some by external parties. All applicable fees will be outlined to you in our loan offer document.
External costs that you may incur when buying property include:

• Solicitor fees
• Any property enquiries and searches recommended by us or your solicitor (for example, survey, pest and building inspections)
• Insurance
• Lenders title insurance fee