Hi people,
Saw this and it's the cheapest out there…hope someone can clarify this
3.85% p.a. Variable
3.86% p.a.* Comparison Rate
Purpose
Owner Occupied
Loan Amount
$50,000-$500,000
Rate Based on
70% LVR Purchases Owner Occupied
70% LVR Refinance
Term
Up to 30 years
Rate Options
Variable and 100% offset account and loan splits available
It is quite competitive but again are there any annual account keeping charges ? administration fee etc?
Oh wow. Looks good especially for LVR 70%
Application Fee
$440
Establishment Fee
$0
Valuation
$250
Or actual cost if not paid on application lodgement
Legal Fees
$330
Annual Fee
$0
Settlement fees
$130
So we need to pay application fee if we don't want to proceed after getting lower valuation?
Hi is a good rate but checkout illawarra credit union is 3.5 %
https://www.illawarracu.com.au/personal-lending/home-loans/
1 year fixed rate home loan
Fixed interest rate from
3.50 % p.a.
Comparison rate from*
4.31 % p.a
look at comparison rate…..no go
variable for illawarra CU
Interest rate
4.35 % p.a.
Comparison rate
4.39 % p.a.
For home loans $250k and over
I'd probably stay away from these guys. I found them at http://www.productreview.com.au/p/reduce-home-loans.html. Then I looked for people who gave them a positive review but has made a review at other companies/services. Then found http://www.productreview.com.au/profile/898415.html who has refinanced/used/recommended two mortgaged companies in a span of 4 days! Very dodgy!!
i'm personally with CUA as there is a branch down road from me….can't fault them and all the people in the branch know their products extremely well….i say to people shop around as there is a lot of better deals out there than the big 4 thieving banks
www.finder.com.au is the one i use
good luck all
What rate are you on?
Does it have offset account?
Check this mobs comparison rate if you can find illawarra based on 150k loan what do this mob do 250 or so so is less do your homework and read the terms
i got only investment loans with them 4.67% (CR 4.69%) as its one of the few who offer offset account with investment loans
my brother is on the 4.31% (CR 4.33%) loan with offset
my mate went from CBA paying 4.95% to CUA a few months ago and is on the 3.99% (CR 4.05%) one
all 3 of us are very happy
I've never understood the applicability of the comparison rate.
Look at the actual rate, and look at the extra fees. The comparison rate is based on a principal that probably doesn't apply to you.
Besides, if refinancing you're often able to get bonuses. Last time I refinanced there was a $1500 (?) payment from the new bank, which made up the (minor) exit fees from the old bank.
most banks use set terms to arrive at the comparison rate. Its meant to be able to compare loans on a level playing field. Otherwise a bank could advertise a 1% interest rate with a $700 a month account keeping fee.
Far out 70% LVR?
Aint nobody got enough $$ for 30% deposit! I spent it all on eneloops!
There is no chance the variable rate will remain this low. Funding costs are going up, and a hike is immminent. (Bank of QLD, has already initiated the next round of out of cycle hikes)
don't you love how banks use that excuse…..funding costs…it's a load of bs….more like the bad lending practices eg arrium owing $4 billion to banks and other miners will close soon too….also Dick smith failed float…my guess is that you will see bank pump up rates on their own another 0.3-0.5% in the next 3-4 months
Just wanted to let everyone know that the interest rate is now 3.59% and the LVR has been moved to 80%.
Just wanted to let everyone know that the interest rate is now 3.59% and the LVR has been moved to 80%.
Here are other loans
Rate Buster Offset Home Loan 80% 3.94% (CR 3.95%)
Rate Buster High Lend Offset Home Loan 95% 4.19% (CR 4.22%)