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Fixed Rate Home Loan Special 3.74% for 3 Years + Annual Package Fee Cash Back on Own Occ Loans @ Cape Finance

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Fixed Rate Home Loan Special 3.74% for 3 Years + Annual Package Fee Cash Back on Own Occ Loans @ Cape Finance
Go to Deal
Store RepCapeFin on 22/04/2017 - 15:29 capefinance.com.au (388 clicks)
Last edited 24/04/2017 - 13:21 by 1 other user

A bank who has not allowed us to openly name them (which seems to be a common theme at the moment), have a limited time special fixed rate for owner occupied loans at 3.74% for 3 years. Please send us an email for full details of this offering.

This is a brick and mortar bank rather than a smaller online lender, so you will have access to branches and an ATM network. We expect the offer to be available for a week or two.

In the spirit of OZBargaining, we are prepared to also cover the $375 annual package fee for the length of the fixed rate period if you decide to use Cape Finance to help arrange the loan and the minimum total lend is $500k. Your annual fee rebate will be paid within 60 days of settlement.

They also have the following additional discounted rates on offers:
Owner occupied
Variable basic 3.73% (CR 3.74%)
Variable package 3.84% (CR 4.23%)
Fixed 2yr/3yr 3.74% (CR 4.7%)

Investment
Variable basic 4.17% (CR 4.18%)
Variable package 4.19% (CR 4.57%)
Fixed 2yr 4.04% (CR 5.32%)
Fixed 3yr 4.14% (CR 5.26%)

Each comparison rate is based on loan size $150k over 25 years

Please email [email protected] to find out more about this offer.

The followings terms for the fixed rate offer have been communicated:
- P&I repayments preferred owner occupied
- Maximum LVR 90% (inc LMI)
- Establishment fee waived as part of member package
- Valuation fee waived as part of members package
- Credit card and offset account included as part of members package
- Minimum loan size $150,000

*no offset available on fixed rate loan

We strongly suggest utilising the 'rate lock' option to secure this rate at the time of application - cost is 0.15% of the loan amount (min $600). If you do not rate lock then you will be eligible for the fixed rate on the day your loan settles.

We are Perth based finance brokers and am able to service clients Australia wide FREE of charge. Note that we are not directly associated with the bank and they make up one of more than forty lenders on our residential loan panel.

Check our our other post for a 5 year 3.99% fixed special extended for a very limited time.

Authorised credit representative 478455 of Connective Credit Services Pty Ltd Australian Credit Licence Number 389328.
And for that legal bit.. Your full financial situation would need to be reviewed prior to acceptance of any offer or product. Normal lending criteria and fees and charges apply. Terms and conditions apply and are available upon request.

NB: I tried to keep this post from being too long, feel free to shoot me a message if you have any questions.

Financial Home Loan Interest Investment

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closed Comments

  • juzz0 on 22/04/2017 - 16:50
    +2

    The guy I spoke to last time was great, someone I know needed help and I referred her. She hasn't refinanced yet but she wants to go with him

    • Store RepCapeFin @ Cape Finance on 22/04/2017 - 16:55

      Thanks for the feedback mate

  • ninjawarrior on 22/04/2017 - 16:56
    +1

    Does this lender accept USD income?

    • Store RepCapeFin @ Cape Finance on 22/04/2017 - 16:58

      I have sent you a PM to discuss your situation

  • lovetravellinginbiz on 22/04/2017 - 16:57
    +2

    Can vouch for OP. Great service, good product.

    • Store RepCapeFin @ Cape Finance on 22/04/2017 - 16:59

      Thanks mate

  • Skramit on 22/04/2017 - 17:08
    +1

    What's the difference between investment basic and package?

    • Store RepCapeFin @ Cape Finance on 22/04/2017 - 18:12

      The home plus adds features like an offset, no monthly fee on all loans in the package, credit card of your choice, no establishment fee, free transaction account.

  • draw16 on 22/04/2017 - 17:18
    +1

    Does the credit account come with a VISA, MC or Amex?

    • Store RepCapeFin @ Cape Finance on 22/04/2017 - 18:07

      It's Visa as far as I am aware.

  • [Deactivated] on 22/04/2017 - 17:53
    -3

    I don't really think this is in the spirit of Ozbargain. A broker is spruiking a product that he will not identify. I will suggest many brokers can offer something similar.

    • Store RepCapeFin @ Cape Finance on 22/04/2017 - 18:06
      +4

      Thanks for the feedback mate. We were specifically told by the bank that we could not directly advertise who was offering it, this is an under the table offer through the broker channel as far as I am aware.
      The spirit of Ozbargain was us offering to pay the annual fixed rate package fee during the life of the fixed rate, may not appeal to all.

      • IMBI3 on 22/04/2017 - 18:30
        +1

        Hi
        Is this with one of big 4? I am a bit wary with smaller lenders

        • Store RepCapeFin @ Cape Finance on 22/04/2017 - 18:31

          Just sent you a PM

        • Val on 22/04/2017 - 19:26
          +1

          I'm also interested to find out.

        • Store RepCapeFin @ Cape Finance on 22/04/2017 - 20:49

          @Val: PM sent

        • movi4c on 22/04/2017 - 21:14
          +1

          @CapeFin:

          Can you PM me too about this? thanks

        • Store RepCapeFin @ Cape Finance on 22/04/2017 - 21:23

          @movi4c: PM sent

        • psnatch on 22/04/2017 - 22:30

          @CapeFin: could you PM us too? Cheers.

      • LurvinOZB on 22/04/2017 - 19:32
        -2

        I'm liking the "under table" hush hush secretive tones … Ughhhh suspense killing me!!!!!!

        In the meantime for fellow ozbargainers who's obsessed with rates, try Reduce Home Loans (http://www.reduceloans.com.au). The "spirit of ozbargain" in me also sharing the love ;-)

        And no, I don't work for them lot.

        • Store RepCapeFin @ Cape Finance on 22/04/2017 - 20:50

          The 3 year fixed rate there is 3.92%

        • LurvinOZB on 22/04/2017 - 21:10

          @CapeFin:

          And their comparison rate is 3.95%, what's yours?? 4.7%??

        • Store RepCapeFin @ Cape Finance on 22/04/2017 - 21:21

          @LurvinOZB: Yes but the deal here is the 3 year fixed rate (or one of the variable offers). After 3 years the bank has the chance to offer a better rate and we will also present the best offers in the market as a comparison.

          The 'comparison rate' is based on a relatively small loan size of $150k and assumes it is paid off over 25 years. You can have a play with an online calculator to see how comparison rates are determined (eg https://reiwa.com.au/advice/calculator-tools/comparison-rate…). Things like an annual fee will have a big impact at that loan size.

        • LurvinOZB on 22/04/2017 - 22:08
          -1

          @CapeFin:

          Ok. Isn't the purpose of Comparison Rates meant to dispel salesman talk and out forth facts, hence putting a fixed scenario of $150k over what you mentioned a 25 yrs term so consumers can actually compare apple to apple?

          So from what you are saying, should we ignore the comparison rates because they don't apply here?

          And assume if we ignore the value of comparison rates; to compare with Reduce if we purely only look at percentages, is it true that all other Reduce products have lower rates with the exception of the 3.74% 3 yrs fixed?

        • Store RepCapeFin @ Cape Finance on 23/04/2017 - 09:25

          @LurvinOZB: What I am saying is the comparison rate needs some common sense applied. That comparison rate is based on a smaller loan size ($150k) and assumes the borrower pays off the loan over the full 25 years with full fees. We are covering the fees during the fixed rate promotion and will be reviewing the loan after that time. I suggest having a play with the calculator I sent in my previous comment to understand this further.

          The variable rates in my post are from a brick and mortar bank rather than an online lender, I would also suggest the lender in your link includes additional margins for loans over a certain size. Each to their own mate, this offer won't suit everyone.

        • LurvinOZB on 23/04/2017 - 10:16

          @CapeFin:

          So what are all the fees associated with your offer?

        • Store RepCapeFin @ Cape Finance on 23/04/2017 - 10:19

          @LurvinOZB: It will depend which product option you take up.
          The fixed rate offer has an annual package fee for $375 which we ensure you will not pay during the fixed rate period. This covers the application fee, standard valuation fee and ongoing loan fee. You will also have a government mortgage fee which varies depending what state you are in and a discharge fee from your current lender. If you would like to email us [email protected] we can have a chat about your situation in private.

        • megaclix on 23/04/2017 - 22:20

          @CapeFin: Just to add. When it comes to fixed rates, the comparison rate is flawed, because when the fixed rate expires, what variable rate is then applied? This is not revealed, and I suspect some providers use the current standard variable rate, while some use the discounted rate. The 'default' rate that applies after the fixed rate period skews the real comparison rate that applies during the fixed rate period.

          For fixed rates, there should be a (form of) comparison rate specific for the period of the fixed rate period, and then maybe one for the full term.

          Why this is allowed to prevail, I don't know. I feel sorry for the people who make decisions based on this, especially when they are told that the 'comparison rate' is the only true way to compare rates.

  • abc on 22/04/2017 - 17:55
    +1

    Can these loans be pre-approved and will the rates stay the same during the pre-approval period?

    • footyboy on 22/04/2017 - 17:58
      +1

      Usually only the fixed amount if you rate-lock (will be a fee and only if lender has that option)

    • Store RepCapeFin @ Cape Finance on 22/04/2017 - 18:04

      I will need to check and get back to you. If available then you will be able to 'rate lock' a fixed rate loan for 90 days, needs to settle in this time.

    • Store RepCapeFin @ Cape Finance on 25/04/2017 - 09:41

      This offer is unfortunately not available for pre approvals

  • dampaee on 22/04/2017 - 17:59
    +1

    What is your variable rate for owner occupied home loan with offset account please?

    • Store RepCapeFin @ Cape Finance on 22/04/2017 - 18:02

      The rate would be 3.84%, you can split this with a fixed rate portion as well.

      • Skramit on 22/04/2017 - 20:23
        +1

        With no package fee?

        • Store RepCapeFin @ Cape Finance on 22/04/2017 - 20:52

          The offset account comes with the package product with an annual fee of $375

  • pyramid on 22/04/2017 - 18:00
    +1

    Does this loan with offset…

    • Store RepCapeFin @ Cape Finance on 22/04/2017 - 18:02

      Not on the fixed rate portion, the package variable options do.

  • Stahh on 22/04/2017 - 18:10
    +2

    We strongly suggest utilising the 'rate lock' option to secure this rate at the time of application - cost is 0.15% of the loan amount

    So on a 800k loan you are looking at $1200 upfront cost just to lock in a rate advertised…

    • Store RepCapeFin @ Cape Finance on 22/04/2017 - 18:14

      Unfortunately given this is a very limited time offer, the loan would unlikely settle before the fixed rate changes so you would be getting the rate at settlement date instead. We have another offer up at an alternate lender with a cash rebate (https://www.ozbargain.com.au/node/299387), that could help offset the rate lock fee.

  • onetwothreefour on 22/04/2017 - 18:20
    +1

    Any specials on smaller refinance amounts? Approx 320k.

    • Store RepCapeFin @ Cape Finance on 22/04/2017 - 18:23

      I will send you a PM now to discuss your situation

      • 191919 on 22/04/2017 - 18:48
        +1

        yeah i have 250k and interested. please pm me :)

  • tajid on 22/04/2017 - 18:54
    +2

    Looks like Suncorp Toby?

    • Store RepCapeFin @ Cape Finance on 22/04/2017 - 19:05

      I have been told not to disclose which bank openly with the offer ;)

      • tajid on 22/04/2017 - 19:06
        +1

        :) All the best mate.

        • juzz0 on 23/04/2017 - 01:29
          +2

          I went up to Bris on a recruitment drive for them last year but didn't get the job. Note to all: do not stay at base backpackers.

  • mahurani on 22/04/2017 - 19:04
    +1

    Hi,

    Can you please pm me…

    I am interested in looking to refinance for fixed term … 320k

    Thanks

    • Store RepCapeFin @ Cape Finance on 22/04/2017 - 19:06

      Hey mate that option does not seem to be enabled, could you email me [email protected]

  • SpaceNinja on 22/04/2017 - 19:23
    +1

    Who is the underwriter for this particular offer as mentioned ?

    • Store RepCapeFin @ Cape Finance on 22/04/2017 - 20:51
      +1

      PM sent

  • varunynr on 22/04/2017 - 19:34
    +1

    Hi Toby, is it just the annual fee cash back or is there fixed amount as well (Like the ones you advertised earlier $1500 and $1250) ?

    Thanks

    • Store RepCapeFin @ Cape Finance on 22/04/2017 - 20:52

      Hi Varun, this particular bank does not have a cash back offer at the moment

  • ohsotight on 22/04/2017 - 21:14
    +1

    Hi I have a total lending of 1.5M across two properties. Have been considnering refinancing. Can you pls pm me who the lender is. Cheers

    • Store RepCapeFin @ Cape Finance on 22/04/2017 - 21:24

      Check your inbox mate

  • Smaster on 22/04/2017 - 22:28
    +1

    Our fixed term almost up. Interested in this. Can you pls me who is the lender.
    Ta.

    • Store RepCapeFin @ Cape Finance on 23/04/2017 - 09:26

      You don't seem to have the PM feature enabled, please send an email to [email protected] and I will send you further details

      • Smaster on 23/04/2017 - 17:58
        +1

        PM enabled. Pls send me the detail. Ta

  • UFO on 22/04/2017 - 22:51
    +1

    Good deal :)

  • ozzz on 23/04/2017 - 00:48
    +1

    Hi mate,
    Can u send me details please. Which is better fixed or variable ?

    • Store RepCapeFin @ Cape Finance on 23/04/2017 - 09:29

      PM sent

  • happyhat on 23/04/2017 - 09:13
    +1

    Hi can u let me know which lender is this? Thanks

    • Store RepCapeFin @ Cape Finance on 23/04/2017 - 09:29

      PM sent

  • omicron on 23/04/2017 - 10:15
    +1

    interested as well. looking to refinance, can you please pm me as well? thanks

    • Store RepCapeFin @ Cape Finance on 23/04/2017 - 10:16

      Done

  • Lionel5885 on 23/04/2017 - 10:45
    +2

    Upvote to poster. Currently handling our lend based on previous ozb post by user for Fixed rate 3.99%. Had some hiccups along the way for that one but poster has been very professional.

    • Store RepCapeFin @ Cape Finance on 23/04/2017 - 11:14

      Thanks Lionel, the banks sure can be frustrating to deal with at times!

  • areustillpretty on 23/04/2017 - 11:33
    +1

    Interested too. PM sent.

  • amarabandu on 23/04/2017 - 13:49
    +1

    Hi
    Could you send me pm please

    • Store RepCapeFin @ Cape Finance on 23/04/2017 - 14:15

      You seem to have PM option disabled, would you like to email direct to [email protected]

  • binnybo on 23/04/2017 - 15:02
    +1

    Hi there, I'm interested to know who the lender is. Thanks

    • Store RepCapeFin @ Cape Finance on 23/04/2017 - 15:09

      You seem to have PM option disabled, would you like to email direct to [email protected]

      • binnybo on 23/04/2017 - 15:11

        PM enabled now, cheers.

        • Store RepCapeFin @ Cape Finance on 23/04/2017 - 15:15

          PM sent

        • T4P on 23/04/2017 - 16:12
          +1

          @CapeFin:
          PM me please.

        • Store RepCapeFin @ Cape Finance on 23/04/2017 - 16:16

          @T4P: You seem to have PM option disabled, would you like to email direct to [email protected]

  • greenie on 24/04/2017 - 18:38

    Is this offer available as a low doc loan?

    • Store RepCapeFin @ Cape Finance on 24/04/2017 - 18:51

      Not as far as I am aware, we can discuss your situation in private if you would like to send an email through to [email protected]

  • Mike88 on 25/04/2017 - 18:50
    +1

    Can vouch for OP as have dealt with them with previous deal. Was very helpful with all the details. Did not take the offer with them as I was able to get my current broker to match the terms.

    • Store RepCapeFin @ Cape Finance on 25/04/2017 - 21:17

      Thanks Mike, you ended u with a good deal

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