2 Year Fixed Rate Home Loan 4.69%Pa (5.35%Pa Comparison Rate) + Free Suburb Report @ Resi

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Store RepRHudson84 on 11/03/2014 - 11:08 resi.com.au (159 clicks)
Last edited 11/03/2014 - 11:25 by 1 other user

OZBargain

Super low fixed rate: 2 years 4.69%pa (5.33% comparison rate)*

Resi Home Loans has a fantastic limited offer on a 2 year fixed rate home loan. An incredibly low 4.69% (5.33% comparison rate)*. Would suit first home buyers, those looking to refinance, or investors looking for a super low fixed rate.

Resi is a full service provider, 100% Australian owned and operated with a local service team and offers fast approvals and expert advice.

Also, Resi are offering FREE suburb reportsle, powered by RP Data, and in some instances, FREE property reports are also available: http://www.resi.com.au/rpdata

*What you need to know: Terms and conditions, fees and charges, normal lending criteria applies. The FlexiFix Plus 80 fixed interest rate is 4.69%pa (Comparison Rate 5.33%), fixed for 2 years and reverts to a variable interest rate of 5.01%pa - correct as at 7th March 2014. Offer applies to loans with LVR ≤80%. Minimum loan amount $200,000. Offer ends 31 March 2014, or may be withdrawn at any time – available for new loans only. Annual fee of $330 applies. Comparison rate based on a loan of $150,000 over 25 years. WARNING: This comparison rate is true only for the example or examples given and may not include all fees and charges. Different terms, fees and other loan amounts may result in a different comparison rate. Australian Credit License Number 390669

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• 

  guidedlight on 11/03/2014 - 11:27

  Hmmm… this seems a bit shady:

  • Minimum loan amount $200,000
  • Comparison rate based on a loan of $150,000 over 25 years.

  So basically, the scenario used for the comparison rate doesn't even meet the loan criteria.

  Also InfoChoice shows at least a dozen home loans with comparison rates lower than 5.35%.

  • 

    battler on 11/03/2014 - 11:38

    +5

    Comparison rate is an industry standard (requirement of UCCC):
    "Look at the comparison rate. Australian law requires lenders to provide comparison rates when comparing home loans. These are calculated to include fees and charges to give you a good idea of how this might affect the interest rate. They are based on a loan term of $150,000 taken out over 25 years."

    • 

      guidedlight on 11/03/2014 - 12:29

      Okay. Thanks for the clarification. :-)

• 

  spacejase on 11/03/2014 - 12:16

  +1

  yep comparison rates are always based on $150 000 over 25 years
  industry standard

  • 

    WhyAmICommenting on 11/03/2014 - 12:20

    needs to be updated to something more relevant to buying a house today!

• 

  amsaini15 on 11/03/2014 - 12:33

  There are many lender offering comparison rate of less than 5%. Loans.com.au is one of them.
  Reverts to variable of 5.01%. Its a NO deal for me.

  • 

    cumova on 11/03/2014 - 12:46

    pretty sure deal is for the fixed 2years..

    customer can just refi once it comes off the fixed.

    dont think you should neg it on that basis.

    • 

      amsaini15 on 11/03/2014 - 13:00

      +1

      Changing Home Loan after every 2 years is not only pain but costly affair as well. I haven't looked into all fees but I am sure discharge fees, valuation fee, settlement fee, legal fee, etc all come into play. also mentioned above - "Annual fee of $330 applies". I am currently with Loans.com.au with 4.49% variable with offset and can't complain.

      • 

        allyemil on 11/03/2014 - 14:29

        Its not too bad to change loan providers these days. I used to think the same based on my experience some 10 years ago, until i finally decided to give it a go again last year and it was surprisingly quite straight forward.
        The guy came to our place, we discussed it, then we met him in his office with all the papers that were required and that was it. Some 4 weeks later, it was all done and the cost was pretty much next to nothing.
        Thinking about doing it again in the near future. Hunt for a better interest rate and perhaps refinance again to buy another property.

      • 

        amsaini15 on 11/03/2014 - 22:25

        Lenders who come to your home and take care of your paper work will never give you best interest rate (For obvious reason as they earn their bread and butter from the higher interest rate you pay) . I would prefer cheapest comparison rate anytime.

      • 

        allyemil on 12/03/2014 - 09:32

        I'm quite happy with mine. Its pretty much the same as what everyone i know has.