Refinancing My PPoR: IR, Cashbacks and MatesRatesMortgages

bhunter101 on 15/06/2018 - 12:22

Hi Guys,

I know OZBargain is not just bargains site. It's also got alot of people with variety of knowledge in them and different areas.

I need Help:
I own a house (Principal Place paying P & I) on 4.20% interest rate. I would like to refinance the property.

What loan are hot fav at the moment with low rates?
Is cashback good when refinancing or MatesRates? Has anyone used any of these? I'm from Melbourne.
Anything to be concerned about when using them?

Any input will be appreciated. Let me know if you need more details :)

Financial

Comments

  • Sofie519 on 15/06/2018 - 15:38

    As long as you have stable income, no adverse credit history, it is likely you will save from most lenders, which in turn could mean cutting years off your loan. So, with the current rates available, I would encourage you to make the inquiry with a lender or broker if you are still borrowing under 80%LVR. Otherwise you'll have to pay mortgage insurance etc …

    1. Most suitable loan for you depend on your circumstances as well as needs.
    2. Cashback gives you a once off payment upfront, Mates rates give you a portion of their monthly trails (approx .3% off memmory, for the life of the loan. Considering people refinance often these days, as soon as 2 years even less, you can factor in whether you will benefit more from that lump sum, or the monthly. Just simple maths~
    3. I'm a fee for service broker~ wink
Login or Join to leave a comment
Login Join