86 400 has recently updated their rates and extended their cashback offer; their new offering includes a significant reduction to their fixed rates and unlike most lenders, their $2,000 own home loan cashback offer is available for purchases as well as refinances.
Unlike the major banks (who have largely seen their turnaround times blow out to weeks or months), 86 400 are offering a 1 business day SLA for initial application processing and have built out some impressive technology to automate and speed up much of the application process.
They have also built a great mobile banking app, which can help users keep track of upcoming debits and spending across all of their accounts (including those with other institutions).
Finally, since 86 400 are now owned by nab, customers will benefit from the peace of mind of knowing that they are backed by one of the 4 Australian majors.
Most competitive 86 400 rates are as follows:
Owner Occupied P&I:
- 1 Year Fixed Own home loan = 1.84% (2.66% CPR)
- 2 Year Fixed Own home loan = 1.89% (2.61% CPR)
3 Year Fixed Own home loan = 1.99% (2.62% CPR)
Variable Own home loan (with 100% offset):
<60% LVR = 2.39% pa (2.68% CPR)
<70% LVR = 2.44% pa (2.73% CPR)
<80% LVR = 2.54% pa (2.82% CPR)Neat home loan variable (no offset or cashback):
<60% LVR = 2.19% pa (2.20% CPR)
<70% LVR = 2.29% pa (2.30% CPR)
<80% LVR = 2.34% pa (2.35% CPR)
Investment P&I:
- 1 Year Fixed Own home loan = 2.24% (2.86% CPR)
- 2 Year Fixed Own home loan = 2.24% (2.81% CPR)
3 Year Fixed Own home loan = 2.24% (2.82% CPR)
Variable Own home loan (with 100% offset):
<60% LVR = 2.59% pa (2.87% CPR)
<70% LVR = 2.69% pa (2.97% CPR)
<80% LVR = 2.79% pa (3.07% CPR)Neat home loan variable (no offset or cashback):
<60% LVR = 2.44% pa (2.45% CPR)
<70% LVR = 2.54% pa (2.55% CPR)
<80% LVR = 2.64% pa (2.65% CPR)
Investment IO:
- 1 Year Fixed Own home loan = 2.44% (2.87% CPR)
- 2 Year Fixed Own home loan = 2.44% (2.83% CPR)
3 Year Fixed Own home loan = 2.49% (2.85% CPR)
Variable Own home loan (with 100% offset):
<60% LVR = 2.99% pa (2.99% CPR)
<70% LVR = 2.99% pa (3.05% CPR)
<80% LVR = 3.09% pa (3.15% CPR)Neat home loan variable (no offset or cashback):
<60% LVR = 2.84% pa (2.60% CPR)
<70% LVR = 2.84% pa (2.66% CPR)
<80% LVR = 2.94% pa (2.75% CPR)
Standard Fees
- Own home loan = $250 upfront fee, $250 annual fee
- Neat home loan = $250 upfront fee, nil ongoing fee
Additional Fees
- 86 400 will cover the first $300 of valuation fee; additional val fee payable at cost if above this.
- $500 optional rate lock fee
$2,000 Cashback Requirements
- Available for 86 400 Own home loan refinance or purchase applications (not available for the Neat home loan product).
- Must apply by 30 June 2021.
- Must settle by 31 August 2021.
- Minimum loan amount of $250,000.
- Maximum 1 cashback per primary borrower.
Comparison Rates
Any quoted comparison rate is only true for the example given and may not include all fees and charges. Different terms, loan amounts or fees may result in a different comparison rate. Comparison rates are based on a loan amount of $150,000 over a loan term of 25 years.
HOW TO APPLY
You can apply through an 86 400 accredited broker, of which we have several across our team of specialists.
Our team is here to help, and will work to ensure we obtain the best pricing and offers possible for you. You can lodge an enquiry via our platform here - https://loanbase.com.au/compare-home-loans-fva, or contact one of our brokers directly with their details below.
Leo Gonzales, Email: [email protected], Calendar link: https://calendly.com/loanbase-leo/initial
Eric Cheng, Email: [email protected], Calendar link: https://calendly.com/loanbase-eric/quickchat
Andrew Loucas, Email: [email protected], Calendar link: https://calendly.com/loanbase-andrew/quickchat
Please contact us to confirm the best deals you could qualify for, as well as discuss any broker cashback that may be applicable, which will depend upon your utilised loan size.
Loan Base Pty Ltd (ABN 95 162 141 915) ยท Australian Credit Licence Number 508 308
Head Office: Level 1, 1-5 Link Road, Zetland, NSW, 2017. Phone: 1300 512 377.
I'm going to guess that nab customers are ineligible for the refinance offer?