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Documentation Full Doc: Amlak Fixed Amlak Product

This document provides information on various Islamic financing products for residential and commercial property from MCCA Income Fund. For the Tamleek product, both variable and fixed rental rates are offered with terms of up to 30 years and comparison rates ranging from 6.07-9.68% depending on financing amount and term. Maximum loan-to-value ratios range from 65-80% depending on financing amount. Monthly rental and principal repayments are offered as well as rent-only options. No annual or settlement fees apply.

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najeeebin
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0% found this document useful (0 votes)
221 views3 pages

Documentation Full Doc: Amlak Fixed Amlak Product

This document provides information on various Islamic financing products for residential and commercial property from MCCA Income Fund. For the Tamleek product, both variable and fixed rental rates are offered with terms of up to 30 years and comparison rates ranging from 6.07-9.68% depending on financing amount and term. Maximum loan-to-value ratios range from 65-80% depending on financing amount. Monthly rental and principal repayments are offered as well as rent-only options. No annual or settlement fees apply.

Uploaded by

najeeebin
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Amlak

Full Doc

Documentation
Product
Property Type
Description

Amlak
Residential
Discounted Variable
Rate

Rental
Facility Rate (p.a.)

4.77%

Comparison Rate (p.a.)

4.88%

Maximum LVR
Principal & Rental Repayments
Rent Only Repayments
Weekly/ Fortnightly/ Monthly
Annual Fees
Split
Redraw
Redraw Fee^
Offset Account
Settlement Fee
Phone and Internet account access
Construction
Vacant Land*

$50K - $749K 90%


$750k - $1M 80%

nil
up to 4

nil

nil

Amlak
Fixed
Residential
Fixed
1y 4.21%
2y 4.21%
3y 4.21%
1y 4.82%
2y 4.77%
3y 4.73%
$50K - $749K 90%
$750k - $1M 80%

nil
up to 4
X
N/A
N/A
nil

The Comparison Rate is based on a finance of $150,000 over a twenty five years term. Fees and
charges may be payable.
Maximum of 5 or 10 years options available depending on certain conditions such as the LVR etc
The minimum split amount is $10,000.
^ Only manual redraws are charged fees.
* Construction Finance incur a one off fee of $120
Note: All Rates are subject to change before settlement. Issued: 24th August 2016
WARNING: This comparison rate is true only for the examples given and may not include all
fees and charges. Different terms, fees or other finance amounts might result
in a different comparison rate.

Tamleek and Murabaha Funded By MCCA Income Fund #

Full Doc

Documentation
Product

Tamleek

Variable Rental

Residential
Fixed 12-month

Facility Rate

Rental Facility Rate**

5.50%
5.57%
30 Years

7.00%
5.70%
30 Years

8.50%
8.63%
15 Years

$50K - $500K 80%


$501K - $750K 75%
$751k - $1M 70%

$50K - $500K 80%


$501K - $750K 75%
$751k - $1M 70%

nil

nil
X
X
nil
X

nil

nil
X
X
nil
X

Property Type
Description
Rental / Profit Rate (p.a.)
Comparison Rate (p.a.)
Term
Maximum LVR
Break Cost
Principal & Rental Payments
Rent Only Payments
Monthly Payments
Annual Fees
Split
Redraw
Settlement Fee
Construction
Vacant Land

Murabaha *
Fixed

Tamleek

Tamleek

Tamleek

Murabaha *
Fixed

6.50%
6.60%
30 Years

Commercial
Fixed 12-month
Rental Facility
Rate**
7.50%
6.70%
30 Years

9.00%
9.18%
15 Years

$50K - $500K 80%


$501K - $750K 75%
$751k - $1M 70%

$50K - $500K 70%


$501K - $750K 65%
$751k - $1M 65%

$50K - $500K 70%


$501K - $750K 65%
$751k - $1M 65%

$50K - $500K 70%


$501K - $750K 65%
$751k - $1M 65%

nil

nil
X
X
nil
X

nil

nil
X
X
nil
X

nil

nil
X
X
nil
X

nil

nil
X
X
nil
X

Variable Rental
Fixed

Facility Rate

Fixed

The Comparison Rate is based on a finance of $150,000 over a twenty five years term. Fees and charges may be payable.
LVR (Conditions apply)
Commercial Finance applications attract an application fee which is 0.75% of the finance amount
All residential investment properties attract an extra 0.25% loading on all rental facility rates quoted in the table.
* Murabaha only avalaible in Victoria
** $295 Capped Rate Facility Fee applies to all 12 month fixed rental facility rate products
# Waiting list applies for MCCA Income Fund property finance
Note: All Rates are subject to change before settlement. Issued: 15 August 2016

WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other finance amounts
might result in a different comparison rate.

Tamleek and Murabaha Funded By MCCA Income Fund #

Self Certified

Documentation
Product

Tamleek

Maximum LVR
Break Cost
Principal & Rental Payments
Rent Only Payments
Monthly Payments
Annual Fees
Split
Redraw
Settlement Fee
Construction
Vacant Land

Tamleek

Tamleek

Variable Rental

Commercial
Fixed 12-month

Facility Rate

Rental Facility Rate**

Murabaha *
Fixed

6.00%
6.07%
30 Years

9.00%
9.13%
15 Years

7.00%
7.10%
30 Years

8.00%
7.20%
30 Years

9.50%
9.68%
15 Years

$50K - $500K 75%


$501K - $750K 70%
$751k - $1M 65%

$50K - $500K 75%


$501K - $750K 70%
$751k - $1M 65%

$50K - $500K 75%


$501K - $750K 70%
$751k - $1M 65%

$50K - $500K 70%


$501K - $750K 65%
$751k - $1M 65%

$50K - $500K 70%


$501K - $750K 65%
$751k - $1M 65%

$50K - $500K 70%


$501K - $750K 65%
$751k - $1M 65%

nil

nil
X
X
nil
X

nil

nil
X
X
nil
X

nil

nil
X
X
nil
X

nil

nil
X
X
nil
X

nil

nil
X
X
nil
X

nil

nil
X
X
nil
X

Variable Rental

Rental / Profit Rate (p.a.)


Comparison Rate (p.a.)
Term

Murabaha *
Fixed

Residential
Fixed 12-month
Rental Facility
Rate**
7.50%
6.21%
30 Years

Property Type
Description

Tamleek

Facility Rate

Fixed

The Comparison Rate is based on a finance of $150,000 over a twenty five years term. Fees and charges may be payable.
LVR (Conditions apply)
Commercial Finance applications attract an application fee which is 0.75% of the finance amount
All residential investment properties attract an extra 0.25% loading on all rental facility rates quoted in the table.
* Murabaha only avalaible in Victoria
** $295 Capped Rate Facility Fee applies to all 12 month fixed rental facility rate products
# Waiting list applies for MCCA Income Fund property finance
Note: All Rates are subject to change before settlement. Issued: 15 August 2016

WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different
terms, fees or other finance amounts might result in a different comparison rate.

Fixed

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