[QLD, NSW] BCU Home Loan - OO P&I Fixed for 1 Year 4.99% + $4,000 Cashback (Min Loan $250k) @ BCU

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AssociatedLBCU4000 on 27/02/2023 - 10:17 bcu.com.au (306 clicks)
Last edited 27/02/2023 - 10:23 by 1 other user

First Post so I am sorry if something has been missed

This deal is on offer through a very limited number of brokers so may be getting missed with people not going direct.

https://www.bcu.com.au/home-loans/owner-occupied/owner-occup…

Fixed Rate:
1 year 4.99% CR - 6.45%
2 year 5.54% CR - 6.40%

Variable Rate:
4.84% Sub 60% LVR - CR 4.85%

https://www.bcu.com.au/4k-cashback

This cash back is not just for refinances, but purchases as well.

Members must meet the following criteria to be eligible for the cashback offer:

Full T&C on the link above - however, most details are below.

Home loan applications (for new purchase or refinancing) must be submitted between 20 February 2023 and 23 June 2023 (inclusive).
The home loan must be approved, settled and drawn down by no later than 30 September 2023.
The home loan must be new to bcu and for either: the refinance of an existing loan from another financial institution (i.e. refinances of existing bcu and P&N Bank loans are excluded from the Offer) or the purchase of a new or existing home (Home Loan).
The Home Loan product must be either a bcu owner occupied or investor home loan.
The Offer is not available for any other product, including but not limited to equity lines of credit, bridging loans or loans for construction purposes.
The amount of the Home Loan must be at least $250,000.
The Loan to Valuation Ratio (LVR) of the Home Loan must be a maximum of 80% or less.
The Offer is limited to one $4,000 cashback payment per member regardless of the number of applications, applicants, properties or loans involved.
This Offer cannot be used in conjunction with any other home loan cashback offer currently being made by bcu.
The $4,000 cashback amount (Cashback Amount) cannot be used towards the serviceability of the Home Loan and can only be paid to the member’s bcu transaction account.

For more information

email - [email protected]

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  mr_asstight on 27/02/2023 - 10:24

  FYI these guys don't do anywhere but QLD or central coast.

  • 

    AssociatedBCU4000 @ bcu on 27/02/2023 - 10:32

    +3

    Firstly, great name.

    BCU have recently opened up to Sydney, which is pretty exciting. Some postcode restrictions for rural towns still apply, but apart from that Brisbane, Sydney, Newcastle etc are all good to go.

• 

  rush123 on 27/02/2023 - 12:04

  I never heard of BCU before, also couldn't find much reviews online. Anyone here who has experience with this company and shed some light over their customer service, charges etc. Thanks.

  • 

    AssociatedBCU4000 @ bcu on 27/02/2023 - 12:33

    Hi Rush

    Our variable and fixed rate loans have no application fees, settlement fees, valuation fees or monthly/yearly fees. Our accounts are also fee free. Turnaround times are very quick at the moment. Once you settle, you have the mobile number of the banker that helped, plus a branch managers phone number for anything else you need.

    About 3 years ago BCU merged with P&N Bank and the systems improved tenfold. BCUs only challenge is word of mouth in the Brisbane and Sydney markets.

    Email me if you want to have a chat, no pressure and no stress if not.

    Cheers

    • 

      rush123 on 27/02/2023 - 16:11

      Thanks.

  • 

    ph81 on 27/02/2023 - 20:23

    Can vouch they are a decent bank and had a decent reputation in coastal NSW.

• 

  Vorsprungdurchtech on 27/02/2023 - 17:29

  +1

  Lots of $4,000 options; AMP, Greater, RAMs, St George etc.. Also Ubank and Reduce offering $5,000 and up-to-$10k respectively, obviously only on larger $1-2milliion mortgages.. Good to have another option none the less, competitive rate and no application fees - thanks for posting.

  • 

    mr_asstight on 27/02/2023 - 19:37

    Is $4k applicable for fixed rates refinance too?

    • 

      Vorsprungdurchtech on 27/02/2023 - 21:06

      +1

      Disclaimer I'm not a broker, but from my own research most lenders do include fixed rate mortgage products in their cashback offers, so yes, but you'll want to verify for your lenders' product specifically to be sure.

• 

  El-Rhi on 28/02/2023 - 06:55

  Does BCU lend to Vic, TAS, ACT, SA or NT?

  • 

    AssociatedBCU4000 @ bcu on 28/02/2023 - 10:28

    Hi El-Rhi

    Only if they're an existing member, or Refinancing one property in QLD or NSW + a property in another state.

    • 

      El-Rhi on 28/02/2023 - 10:58

      Thanks. How long do they need to be an existing member to be eligible?

      • 

        AssociatedBCU4000 @ bcu on 28/02/2023 - 11:02

        3 months of using the account I believe, but I will double check.

• 

  Jazza2400 on 28/02/2023 - 17:14

  Do you guys do offset accounts with home loans?

  • 

    AssociatedBCU4000 @ bcu on 28/02/2023 - 17:19

    Hi Jazza

    We do have offset Home Loans, the rate is 5.04% variable. Still no fees and charges.

    Our Fixed Rate loans don't have offset or redraw, but you can put $25k in per loan term.

    Shoot through an email if you'd like anymore info.