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Reduce Rate Lovers Variable Home Loan (3.44% p.a.) Finder Flash Sale Deal

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Reduce Rate Lovers Variable Home Loan (3.44% p.a.) Finder Flash Sale Deal
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Store Repfindercomau on 26/02/2018 - 09:13 finder.com.au (339 clicks)
Last edited 26/02/2018 - 09:28 by 1 other user

Hey all, below is one of the standout deals from the Finder Flash Sale below.

Note: This offer is exclusively available through finder.

Core features of this home loan

  • One of the lowest variable rates in Australia - 3.44%p.a interest and comparison rate
  • Flexible repayments to suit your pay cycle
  • Add an optional 100% offset account for $10 a month
  • Free redraw facility
  • No annual fee
  • Application fee of $440
  • Legal fee at cost
  • Valuation fee of $250
  • Settlement fee of $150

Other benefits

  • No minimum amount for redraws made online
  • Access your 100% offset account with a debit card
  • Make as many extra repayments as you like without penalty

Eligibility for this home loan

  • You must be at least 18 years old
  • You must be an Australian resident
  • You must have a 20% deposit

See full list of Finder flash sale deals

Financial Home Loan

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closed Comments

  • kev go westie on 26/02/2018 - 09:20

    Wow. This looks pretty good. Too good to be true? What’s the catch?

    • stockastics on 26/02/2018 - 09:23

      Rate will go up after 6 months

    • bobbie34567 on 26/02/2018 - 09:25

      you have to have 20% deposit so low risk for them. although I reckon it will be a bait and switch interest rate… raise rates as your mortgage goes on. At least the big banks get in the news when they do rate rises.

    • Pab23q on 26/02/2018 - 10:32
      +1

      They're not a bank - so the money you keep in that offset is not protected by the Government

      I would avoid for that reason. My personal opinion.

  • Schmerkin on 26/02/2018 - 09:32

    I'm on 4.01% variable with CBA via a broker, just as a comparison

    • Pharos5 on 26/02/2018 - 09:41
      +1

      That seems a bit high. If you don't mind me asking, what's your loan size?

      • Schmerkin on 26/02/2018 - 14:37

        Setup last year as a $400k loan against a 500k property (20% deposit)

        • Pharos5 on 26/02/2018 - 18:40

          If it's a fee-free loan, fair enough. If it's with an annual fee (and it's P&I), as a CBA lender, I'd recommend dropping in to your local branch over lunch/weekend/etc and asking them to complete a new pricing request.

        • Schmerkin on 01/03/2018 - 14:10
          +1

          @Pharos5: Thanks, I will. Currently paying $395 annual fee.

    • hen dawg on 26/02/2018 - 20:12

      My broker got 3.88% variable with CBA. Done in December when the 3yr fixed expired

  • 2jzzzz on 26/02/2018 - 09:35

    3.79 with Westpac, Rocket Repay

    • bobbie34567 on 26/02/2018 - 10:04

      There current sign up rate is 4.64? plus a $395 annual fee

      Guessing you got them to match someone?

      • 2jzzzz on 26/02/2018 - 10:12

        A broker did it. Full offset with a $1250 rebate. Believe you would get the discount depending on mortgage size, should definitely be under 4%

  • chewkl on 26/02/2018 - 09:41

    Hi guys, anyone aware of any homeloan which offers 100% offset account with no annual/ongoing fees? Thanks.

    • kev go westie on 26/02/2018 - 09:45

      yeah i am keen to know too. i am on ing @ 3.89% which is way too high

    • Pab23q on 26/02/2018 - 10:28

      IMB from memory offer this.

      Sometimes having an annual fee with lower rate works out cheaper so do your calculations.

      • dumkaze on 28/02/2018 - 04:30

        I m with imb no annual fees and current rate is 3.69

    • angelkulit025 on 26/02/2018 - 10:52
      +2

      loans.com.au

    • clubhonda on 26/02/2018 - 12:15

      HSBC offers 3.59% without offset, or 3.79% with offset without any annual fees. Their comparison rate is also just 0.01% higher which is a good sign.

  • [Deactivated] on 26/02/2018 - 09:43

    CUA have a decent variable rate of 3.65 no annual fee presently, it's been at this rate for about a year which I have just recently refinanced to.

  • Trying2SaveABuck on 26/02/2018 - 10:37

    These all must be Owner occupied loans? anyone get a better deal then 4.09% on an investor loan?

    • tidie on 26/02/2018 - 10:39

      im getting 3.89% with St George, though it is fixed.

      • Trying2SaveABuck on 26/02/2018 - 10:41

        I got over 100k in redraw so fixed doesnt work for me but thanks

        when i had an owner occupier loan i was with Ubank i was only like 3.74 (I think) no annual fees so the above rate is definitely better - but i'd semi-recommend Ubank they aren't perfect i think if your loan is big enough you can get a Owner occupier rate to 3.64% which is decent

    • Pab23q on 26/02/2018 - 10:49

      3.74% - Maq bank

      • tidie on 26/02/2018 - 11:05

        wow, is that for investor?

        • Pab23q on 26/02/2018 - 11:13

          Yes. Friends of employees rates.

          I think they advertising 3.89% investors on website but you could probably get a better deal with talking to them.

        • tidie on 26/02/2018 - 11:40
          +1

          @Pab23q:
          Can i be your friend's friend?

        • Trying2SaveABuck on 26/02/2018 - 11:45

          @Pab23q:

          thats not bad

    • Aniseed Steed on 26/02/2018 - 12:03
      +1

      anyone get a better deal then 4.09% on an investor loan?

      Which bank is this investor loan with?

  • Ametric on 26/02/2018 - 10:45
    +4

    Hey OP, how can be comparison rate to be the same as advertised with these fees?

    Application fee of $440
    Legal fee at cost
    Valuation fee of $250
    Settlement fee of $150

    • thydzik on 26/02/2018 - 10:54
      -3

      comparisons only include annual fees.

    • Store Repfindercomau @ Finder on 26/02/2018 - 11:18
      -3

      Hey Ametric,
      Because these fees are one-off fees and are amortised over 30 years, they don't make a significant difference to the rate.

      • Ametric on 26/02/2018 - 11:27
        +3

        yes it does make difference, including a payment for offset account it works out as 3.51% (or 3.46% without it) over 30 years and sure is increasing with the smaller term than 30 years…

        Just saying that you need to be honest and calculate comparison correct, so there is no misleading ad…

        • Store Repfindercomau @ Finder on 26/02/2018 - 13:56

          Hi Ametric and all interested in the answer to this question.

          Apologies for my earlier reply, it was incorrect. I've enquired directly with Reduce Home Loans about how this works and for more clarification. They offer a loyalty discount after five years which you can find out more about on their site. This offsets the upfront fees for each product.

          As finder does not offer this loan ourselves, if you would like more information you can contact Reduce Directly using the deal link.

          Sorry for the confusion.

      • Steptoe on 26/02/2018 - 11:52

        The correct reply is

    • clubhonda on 26/02/2018 - 12:18

      If the comparison rate is advertised as the same it's wrong and misleading. This is a reportable offence.

  • Aniseed Steed on 26/02/2018 - 12:20

    Sorry to hijack this but can anyone suggest a better refinancing investor loan rate than CUA's "Fresh Start Variable - Principal & Interest" comparison rate of 4.92%? It includes a free 100% offset facility & an unlimited redraw facility, with no ongoing annual or monthly fees.

  • AncientWisdom on 26/02/2018 - 13:29

    Will this be applicable for a house build?

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