300,000 Qantas Points for Eligible Home Loan over $300,000 @ ANZ

1650

Was lurking on the internet and found this so I thought I would share. Basically you get a free vacation when you apply for this

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Comments

  • +5 votes

    Hwow… it comes down to their rates though

    • +12 votes

      Which aren't competitive generally.

    • +2 votes

      3.63% p.a. / 3.67% p.a. comparison rate

      ANZ Simplicity PLUS Home Loan with special interest rate (owner occupied when borrowing less than 80% of the property valueSuperscript:4)

      *Not sure if this is pre or post yesterdays rate cut.

      •  

        My offset account with a different bank is 3.87%.
        The benefit I have is unlimited offset accounts. Anyone know if ANZ do the same thing?

        • +5 votes

          I am on 3.66% with 100% offset on breakfree package. As ANZ is passing full cut, it will be reduced to 3.41% from 12 July.

          If you are seeking more than $500k, you should be able to get further discount of 0.1% so essentially 3.31% variable(Principal+Interest) on owner occupied property.

          •  

            @Tipu: What amount borrowed? I’m under 500k at 3.81 on break free. How’d you get that low?

            • +1 vote

              @DocC: Mine is just shy of $500k so couldn't get extra 0.1%.

              I rang them recently before 1st rate cut and asked for better rate. They dropped me from 3.95% to 3.85% so I got 3.66% after rate cut.

            •  

              @DocC: Did you just call the call center and ask for a better rate or did you threaten to leave or? Would love to get a better rate!

              • +1 vote

                @AskingForAFriend: You can call the ANZ rate review team direct and sidestep the bank manager (who repeatedly said it was the best he could do). Their number is ‭1800 812 179‬. I just say I would like my rate reviewed please. IMHO don’t threaten just ask. If it doesn’t work for you then move.

                After review it will take rate on 12 July after including second rate cut to 3.37% variable on break free with offset. I realize cheaper is out there but other features work for me now.

                •  

                  @DocC: I asked bank manager as i am getting a 1.61% discount on their advertised rate, which works out to be 3.57% currently, but down to 3.32% after ANZ pass on the rate drop tomorrow.

                  Bank manager tried to get 1.7% discount but it was apparently rejected.

                  Seems like its OK , although there are definitely better deals out there.
                  Still in two minds of going to a broker to see if i can get a better deal/

                  •  

                    @brendenkoh: I spoke with their pricing team today and I was able to get further 0.05% discount. My total discount is now 1.57% which makes rate of 3.36% after latest RBA cut.

          •  

            @Tipu: Mine should be at 3.48 with nab offset
            But I know others have got about 3.40 with strong bargaining power

            •  

              @Calmerancer: Nice price. Mine will only be 3.53% (another big 4 bank) after the recent second cut comes into effect. But I don't pay any fees and have 100% offset. So that should make up for it.

        •  

          I'm interested in the unlimited offset accounts. Which institution are you with?

        •  

          Sadly no, they don't offer more than one offset account linked to a single loan. I was hounding them years ago for this.

      • +1 vote

        Pre, cut comes into play 12 July

      •  

        Possible to get ~0.3 lower with the same features with other lenders.

        When you want offsets etc.. the gap gets bigger

        •  

          I'm currently at 3.44% with offset/redraw at a Tier 2 bank that insures deposits.. If they pass through the whole cut then it's 3.19% which would be nice

  • +4 votes

    That’s a lot of Hoff

  • +60 votes

    Thanks OP, took out 10.

    • +4 votes

      QFF points doesn't expire as long as you continue to earn QFF point, even if its transferred from Woolies or some other place.
      If you don't earn any points, then all your points will expire 2 years after the final time you earnt points.

  • +2 votes

    Refinance loan eligible?

      • +17 votes

        Uh, that's the answer to "I already have a home loan with ANZ, can I get in on this offer?". Generally refinancing implies moving from one bank to another, hence taking out a new loan with the second bank - so you should still get the points. (Double check directly with them though!)

        • +7 votes

          @f4te - correct. Refinancing from another lender to ANZ makes you eligible. Confirmed with ANZ Bank this morning.

  •  

    todays Age has an entire front cover wrap around advertisement for this

  •  

    @ ANZ

    Not a good deal for Christians

  • +3 votes

    People with mortgage are tightening up their budget and cut down spending, knowing a storm is luring ahead.

    The solution: give points coming with the mortgage to incentivise spending.

    Not bad (for the bank).

    •  

      Most people are suffering a mass delusion, where spending incentive programs work, but in their case it doesn't, because they have magical powers that the other people it works on don't have.

    •  

      the sceptic in me was thinking the same kinda thing - encourage spending on a holiday somewhere that wont be coming off the mortgage, the bank reaps the retained interest ;-)

  •  

    It's basically $3000 cashback if converting it to cash. So it's a decent deal if switching loans. Covers the fees associated with moving.

  • +20 votes

    We use the word ‘holiday’… not vacation.

  • -1 vote

    damn if i got this it would put me up to 1 million QFF

  • +4 votes

    Basically get a shit rate on your house and forcefully take a vacay lmao

  • -2 votes

    Buy and flip for the points?

  • +1 vote

    Any deals on a house to go with this?

  •  

    I just submitted all documents to NAB yesterday, Can ask them to hold, And try ANZ?

    • +28 votes

      Can ask them to hold, And try ANZ?

      Nah post on Ozbargain first.

    • -2 votes

      I think NAB variable rate loan is the lowest available. I've being told it is around 3.54% with no monthly fees. Probably will go down to 3.4% with yesterday's RBA rate cut.
      At least that's the bank I'm thinking to go with for first home buying.
      Westpac couldn't match same rate despite 10 years of me as their customer.

      • +1 vote

        I am currently having 3.44% before the rate cut yesterday with HSBC. With offset and not monthly fee. I believe it will go down again.

      • +2 votes

        I think NAB variable rate loan is the lowest available

        It's a safe bet that the lowest rate will never be offered by the Big 4. [Here's one right here that's a much better deal(https://www.ozbargain.com.au/node/467852) at 3.09%.

        •  

          I found better. 😀

          Reduce Home Loans offers 2.89% variable Owner Occupied loan

          •  

            @duchy: Yeah, you think that but bear in mind that Reduce has a reputation for giving the new customers the good rates… but not passing that on to existing customers, and raising rates not long after sign up, so YMMV. Athena promises (for what it's worth - they're new and it has been true so far) that existing customers get the same rate as new customers.

            I'm looking at a refinance with TicToc right now, avoiding Reduce for the above reasons. I'd rather pay a tiny bit more with the expectation that future cuts will come to me in the current market than get a little less for a few months and then find myself out of pocket.

            TicToc also had $1,000 cashback when I applied, which helps, and no fees (ditto Athena), vs Reduce's high entry and exit fees.

            So you might get a better deal with Reduce but it seems like a riskier bet to me :)

            • +1 vote

              @ely: Fair enough. I am with Tic Toc (Adelaide Bank) myself. I chose to go fixed 10 mths ago - never anticipated the RBA to go lower than 1.5%. I was naive. It's a good choice but go variable.

              •  

                @duchy: Yeah, surprised also, I'm breaking a fix to jump to tic-toc. Only 7 months to go on mind, and only half fixed, do the fee isn't too bad.

                How has your experience with tic-toc been?

                •  

                  @ely: They've only passed on 20bp of the cut (and only passed on 20bp of the last cut), putting them only just barely ahead of Athena now (who passed on 25bp and 25bp).

    •  

      Did you buy a property or get pre-approval? If you've got signed documents and are in the middle of a purchase then get the money and settle - you have a lot more at risk than a few basis points and can always refinance later.

      If its preapproval - as far as I know you can get preapproval from as many banks as you want. Don't need them to hold off - just submit your papers to ANZ and see what they can do. From my experience there is also a big gap in the amount lenders are willing to lend you depending on how they assess your risk profile.

      An extra $10k on the loan might mean getting a property you like, if you don't need the extra the lower rate might make more sense.

    • +15 votes

      Oh man…please please read the PDS..they will have application fees, exit fees, "you know what -i will get you if you even think of switching before 5 years fees".. this is not as easy as porting your number from Telstra to Optus..

      • +6 votes

        typical ozbargainer, wants you to do all the work for them, wont even open a T&C, PDS or product summary and do some research themselves.

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