First Home Buyer, 80$ LVR, borrow less than $400,000 :)
I went to the broker already but want to compare the rates and fees with some other non-bank loaners.
Checked with the famous loans.com.au and came across Reduce Home Loan (http://www.reduceloans.com.au/).
Their offset account product is very attractive.
No on going fee + 100% offset + lowest interest rate and comparison rate that i know so far.
Does anyone get any options or ideas about them?
I'm with them a the moment in the 3.35% variable no offset. Refinanced from a big 4. Took almost 2 months.the paperwork was quite a bit of work and took several phone calls from Reduce to confirm or bank statements. Maybe it was a bit more difficult to approve for us because the original loan was less than 6 months old but they came through in the end.
Max 10k redraw daily, 5k pay anyone, and Bpay facility to pay bills all via Internet banking. No mobile banking app available but internet banking is straightforward. More can be withdrawn by completing a manual redraw form.
I'm with reduce home loans and just got a letter saying they are bumping up the rate by 0.25%.
Also the exit fee is around $750 which is quite high.
Haven't had personal experience with them but here is a review site worth looking at (NB* keep in mind some times companies give incentives for people to post positive reviews)
http://www.productreview.com.au/p/reduce-home-loans.html
Also have a read of this whirlpool forum
http://forums.whirlpool.net.au/archive/2477756