Greater Bank Ultimate 1 Year Fixed Home Loan - 2.99% (CR: 4.42%)

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Greater Bank

• 

  Splashtash on 31/05/2019 - 14:25

  +5

  Wow … don’t jump on this peeps. Rates r coming down and I’m sure there will be much better offers or similar shortly ;)

  • 

    hbish on 31/05/2019 - 14:46

    I did mention the upcoming rate cut. Hopefully, more lenders would announce ahead of Tuesday :)

• 

  d-hunterz on 31/05/2019 - 14:29

  +15

  Please put 4.42% Comparison rate in the title as that tells the real picture.

  • 

    silo on 31/05/2019 - 14:41

    +3

    Keep in mind that comparison rates are based on a loan amount of 150k. So it matters more when your loan size is smaller.. but if you're borrowing say 1m, it may not be as relevant.

• 

  Numpty21 on 31/05/2019 - 14:29

  +5

  revert to variable rates after 12 months.
  Those rates are currently 4.35%

  • 

    Stahh on 31/05/2019 - 14:58

    +1

    Haha wow what a shit deal offer low rates house prices go down then your locked into that lender as you don't have LVR of 80% put rates up after 12 months then profit

• 

  RogueWolf on 31/05/2019 - 14:30

  +5

  going to be interesting in 5 or so years down track, if rates get back to 6-7% how many can afford to repay the differance from the 3-4% they pay now

  • 

    LikezDaBargainz on 31/05/2019 - 14:36

    +6

    hate to tell you this, the chance of rates going back to 7%, is like expecting money to fall from the sky

    • 

      RogueWolf on 31/05/2019 - 14:42

      thats why I said 5 or so years down track, its just a cycle, economy is borderline recession, they are trying to increase spending by dropping rates but thats just a cheap money trap, eventually rates have to go back up hopefully its later than sooner, people feeling mortgage stress now will be a disaster down track if more lock themselves in loans they dont factor in higher rates one day

      Mortgage stress hot spots revealed — areas where Aussies struggle to cope with home loans
      

      • 

        lgacb08 on 31/05/2019 - 14:47

        Those in stress already had, the banks had cracked down on easy lending criteria nearly 2 years ago well before the major housing downturn. Stories like what happened in the us in the GFC won't happen here any time soon.

  • 

    lgacb08 on 31/05/2019 - 14:44

    Last time I heard that 7-8% was 4 years ago and nothing came close. RBA already got rate down too low they can't afford to bring it close to zero in last couple of years already.

  • 

    m0tyrider on 01/06/2019 - 08:39

    Going to be interesting too see. Personally I am avoiding buying property for at least a few years. It's way too risky right now, disaster is a very high possibility

• 

  worker on 31/05/2019 - 14:50

  Hyper inflation, incoming….. you can’t just print money and expect it to all be ok. It will byte back one day

• 

  gimmeabreak on 31/05/2019 - 15:02

  +1

  Loss leading rate to get you in but lookout if in a year's time, especially if refinancing out becomes a non-option for you.

• 

  bobbyd on 31/05/2019 - 15:40

  +2

  Beware of a 1 year fixed "special/introductory" rate on a 25-30 year loan. Definitely do some research!

• 

  Powls on 01/06/2019 - 10:17

  +3

  Definitely a good deal, you just obviously have to remember to refinance after 12 months.

  • 

    [Deactivated] on 01/06/2019 - 23:41

    Have an upvote to neutralise the negative vote for stating the obvious/fact.

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  [Deactivated] on 01/06/2019 - 23:43

  Suggest OP to add OO loans only.