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4.69% (5.42% Comparison Rate) p.a. Home Loan Fixed for 3 Years from Fair Share Financial

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4.69% (5.42% Comparison Rate) p.a. Home Loan Fixed for 3 Years from Fair Share Financial
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AssociatedLsd on 08/11/2013 - 16:44 fsfa.com.au (102 clicks)

Three year fixed home loan - 4.69% (comparison rate 5.42%)*
Loan amount $50,000 - $1,000,000. The 4.69% fixed three years converts to a variable rate of 5.18%. $395 Annual fee and $200 discharge fee. Note for a $400,000 loan the comparison rate will drop to 5.19%. LVR below 90%. No redraw or offset available.

  • The Comparison Rate is calculated based on a typical loan amount of $150,000 over 25 years with monthly repayments. WARNING: This comparison rate is true from only the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Information is correct as at 24/10/2013. Interest rates are subject to change without notice. Lenders terms, conditions, fees & charges apply. Australian Credit License number 389087.
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closed Comments

  • Billygoat on 08/11/2013 - 16:52
    -1

    Comparison rates do my head in.

    • Associatedsd @ fsfa.com.au on 08/11/2013 - 16:54

      The comparison rate helps you identify the true cost of a loan. It takes into account the interest rate, the loan set-up costs, the term of the loan, and any other up-front or ongoing fees associated with a loan :)

    • TomGum on 08/11/2013 - 17:07

      Comparison rates shouldn't be a measurement tool by any means. Always add up the actual fees for the loan that is for you and compare that to the other banks/lender. It's pretty straight forward really.

      • Coley on 08/11/2013 - 17:23
        +3

        Actually comparison rates are a perfect measurement tool.

        All you need to do is calculate your own using your actual loan amount and the fees etc associated with the loans you are comparing. Plenty of online comparison rate calculators around, just google.

  • accessdenied on 08/11/2013 - 16:54

    WARNING: This comparison rate is true from only the example given and may not include all fees and charges.

    I always thought the comparison rate included all the fees and charges.. What do u mean rep? If there are extra fees and charges, what is the meaning for showing the comparison rate?

    • Associatedsd @ fsfa.com.au on 08/11/2013 - 16:55

      That refers to "$150,000 over 25 years", if you look at a higher loan or a longer/smaller period then it changes :)

  • Fluffyrab on 08/11/2013 - 17:25

    Or CUA fully offset fixed rate for three years: 5.10%, 5.37% comparison rate: http://www.cua.com.au/personal-banking/home-loans/premium-fi…
    Fully offset is great if you are able to keep some money in your account.
    - Note, I am not associated with CUA, but moved our home loan to this deal!

    • Ahan on 08/11/2013 - 19:03

      Can I ask why you fix your loan at this rate? 5.10 is quite high comparing to current loan interest rates. Plus a high annual fee.. I don't see the benefit of doing this.

      • donga100 on 08/11/2013 - 19:15

        Gambling on interest rates to go up in the next 3 years. Sometimes better to have consistent repayment commitments for a few years rather than worrying about being able to afford your mortgage if rates went up.

  • xsacha on 08/11/2013 - 17:42

    MEBank seems to offer 4.69% for fixed 3 year as well.
    Much lower comparison rate of 5.22%. Good reviews online: http://mozo.com.au/rate-and-review/ME-Bank/reviews
    http://www.mebank.com.au/homeloans/homepage/latest-rates

    Note: I just read it and it says you have to be a union member or have a super fund. I think most people will have a super fund though.

    • donga100 on 08/11/2013 - 18:25

      It's free to create a super fund account.

  • BluBoy on 08/11/2013 - 19:14

    Over the coming weeks, all the major players will be raising their fixed rates.
    If you are looking to fix (with any provider), it may be worth doing it now, and paying to lock in the crrent fixed rate.

    http://www.shapehomeloans.com.au/blog/fixed-rate-is-on-the-r…

    • danyool on 08/11/2013 - 21:08

      I'd be interested to see a table of what the rates went from and to to show the size of the movements. (obviously, going to be some differences depending on package)

  • silverx on 08/11/2013 - 21:31

    On your website the rate after 3 years fixed is 5.38 and not 5.18

    • silverx on 08/11/2013 - 21:35

      And apparently there isn't annual fee either for fixed rate package

      • ShannonIngram on 11/11/2013 - 10:52

        Assuming this is in fact ME Bank, they have the option to pay an annual fee of $395 to go on their Member Package. This reduces the variable rate from 5.38% to 5.18%. If you were going 100% fixed you probably wouldn't do the member package, but if you go a combination loan it may be worthwhile as you save on fees as well as interest rates - will depend on your individual circumstances.

  • rambokid on 08/11/2013 - 23:11
    -1

    I wouldnt touch this offer with a bargepole. Firstly the interest rate is much higher than other variable offers. For example Loans.com.au offers 4.49% with a full offset account with debit card facility WITHOUT any fees, a fantastic customer service, and access to westpac group ATM network.

    secondly it is only logical to fix rates if the rates are expected to go up. This is not going to happen at least for the next two years. in fact i wouldnt be surprised if the rates go down by at least another 100 basis points. clearly stupid move to fix rates now..

  • rambokid on 09/11/2013 - 06:16

    Just see what is happening in the economy. Ignore centrebet.

    • donga100 on 09/11/2013 - 09:33

      Don't ignore centrebet then, you should bet against them.

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