- The Loan Product Information (LPI) is the transparent loan product information and features, interest rates and fees and charges that are either published by Credit Providers (Lenders) or are provided to us. It may not include all Lender interest rates, fees and charges. It does not include mortgage insurance premiums. The LPI is only one factor to consider when deciding to take up a Lender’s credit product.
- The Internal Rate of Return (IRR) (aka as the ‘comparison rate’) expressed as an interest rate is the Net Present Value based on the LPI, the Loan Amount and Property Value over a term of 25 years. For fixed rate loans the IRR is calculated based on the fixed interest rate equal in length to the fixed period, and thereafter variable interest rate to a term of 25 years. IRR150 is calculated using a Loan Amount of $150,000. IRRf is calculated using the fixed interest rate equal in length to the fixed period for a term equal to the fixed period. IRRf150 is calculated using a Loan Amount of $150,000. The IRRs may not include all LPI. The default Loan Amount is $800,000 and the Property Value is $1,000,000 (DLAPV). Changing the DLAPV will change the IRRs. The IRRs are only one factor to consider when deciding to take up a Lender’s credit product.
- Each Lender’s TCSL rating out of 100 is presented without fear or favour and is based on the Lender’s IRRs (variable LPI with offset and no offset account, and fixed rate LPI with 1 to 5 year terms) and the LPI’s Transparency and ease of access, Competitiveness, Sustainability, and Loyalty to existing customers when repricing their home loan interest rates compared to the interest rates offered to acquire new business. Changing the LPI, or DLAPV, or both will change the TCSL. The TCSL is only one factor to consider when deciding on a Lender or whether take up a Lender’s credit product.
- The IRRs and TCSL do not take into consideration any Lender’s credit policies, Mortgage Insurer’s credit policies, or mortgage insurance premiums.
- We do not guarantee the accuracy, adequacy, or completeness of the LPI, IRRs or TCSL. We do not guarantee whether they are up to date.
- The LPI, IRRs, and TCSL are provided as general information. They do not constitute advice, recommendation, opinion, or influence to apply for a credit product or use a Lender. You must decide which credit product and Lender suits your needs. If you need credit advice you must appoint us as your broker.
- We do not include all LPI or all Lenders and we may not display IRs and IRRs for all Lenders despite displaying that Lender’s TCSL rating.
- creditbroker.com.au is owned by Complete Lending Solutions Pty Limited ABN 96 101 182 987 | Australian Credit License 378240. Complete Lending Solutions is independently owned and operated by Alex Alexandrou JP, BSc (Hons), Dip FMBM.