Smart Saver Procuct Range Change
Homeloans Ltd are no longer able to accept vacant land applications with intention to commit construction within 12 months under the Smart Saver product range.
Approval of vacant land purchase and simultaneous construction of dwelling can still be provided and there is no change to the use of vacant land as collateral or top up security to other improved residential property, to a maximum LVR of 50%.
This amendment will be effective for approvals received after 10th September 2009.
Loans fully approved on or before the above date will be honoured through to settlement. Adherence to the dated document requirements of the approval process is required, for settlements that do not occur within the 60 day settlement requirement of the Loan Contract.
All other products remain unchanged.
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