This was posted 4 years 2 days ago, and might be an out-dated deal.

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2.19% Owner Occupied (PI) and 2.49% 2/3 Yr. Fixed Rate Inv. Only Loan w/ 100% Offset @ Health Prof / Fire Mutual / Unibank

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2.19% Owner Occupied (PI) and 2.49% 2/3 Yr. Fixed Rate Inv. Only Loan w/ 100% Offset @ Health Prof / Fire Mutual / Unibank
Go to Deal
EmployeePJassie Singh @ Josh Financial Services on 09/05/2020 - 20:12 hpbank.com.au (345 clicks)
Last edited 20/05/2020 - 09:28 by 2 other users

Special fixed rates on investment loans and owner-occupied loans from HEALTH PROFESSIONALS BANK, FIREFIGHTERS MUTUAL BANK, TEACHERS MUTUAL BANK & UNIBANK
Owner Occupied Loans

Owner Occupied loans 2 years fixed 2.19% p.a. PI (cr 4.02%)
Owner Occupied loans 3 years fixed 2.19% p.a. PI (cr 3.85%)

Investment loans

Investment loans 2 years fixed 2.34% p.a. PI (cr 4.05%)
Investment loans 3 years fixed 2.34% p.a. PI (cr 3.88%)
Investment loans 2 years fixed 2.49% p.a. IO (cr 4.09%)
Investment loans 3 years fixed 2.49% p.a. IO (cr 3.93%)

Eligibility Criteria

One of the applicants should be employed by or a relative of someone employed by one of the following:

Government or Private School.
Australian Police and Firefighters
Medical sector both private or public
Any Australian university
Terms and conditions and lending and credit criteria apply.

Benefits

100% offset facility*
Split fixed/variable rate options available
A 90-day rate lock option*

Call 1300 537 000 for more information.

Jassie Singh
Director
Josh Financial Services
ACL 390176
www.joshfs.com.au
mobile 0400 288 799
email [email protected]

https://www.joshfs.com.au/specials-for-tmb/

Financial Home Loan

Related Stores

hpbank.com.au
hpbank.com.au
Josh Financial Services
Josh Financial Services
Third-Party
Teacher's Mutual Bank
Teacher's Mutual Bank
UniBank
UniBank

closed Comments

    • djmm on 09/05/2020 - 20:33
      +3

      Explain why

        • djmm on 09/05/2020 - 20:47
          +1

          I asked you to explain you got nothing

            • harryzee on 09/05/2020 - 21:35
              +1

              @tonyjzx: You're a clown

            • djmm on 09/05/2020 - 22:01
              +2

              @tonyjzx: Next time don't just parrot what you heard randomly without fully understanding the subject

        • EmployeeJassie Singh @ Josh Financial Services on 09/05/2020 - 20:51

          Investment.

        • thydzik on 09/05/2020 - 20:55
          +5

          IO investment can help you pay of your PPOR quicker

      • stirlo on 09/05/2020 - 20:52
        +1

        Record low rates and record low inflation makes interest only a recipe for future pain. IO only really works when inflation is high enough that the principal is worth far less than the value of the home in the future. Also if you cannot afford P&I with rates this low you're going to have a bad time when rates do rise.

        • tonyjzx on 09/05/2020 - 21:20
          -3

          its also built largely on capital growth and is that happening before, during or after covid?

          if you need that explained to you then go ahead and apply for a IO only loan, you deserve it

          also look at what the IO only period is? is it going to last forever lol?

          when will it revert to principal as well and will that coincide with the appropriate capital growth so you can realise your profit?

          I'm of the opinion brokers push IO are parasites and the people who think its a good idea shouldnt be getting over their heads but hey, a fool and their money… if people need that explained knowing what has already happened with conventional banks in the past and they STILL get caught up with this then they deserve to be broke and without property.

  • SonOfATightASS on 09/05/2020 - 20:47
    -1

    When fixed rates are lower than variable why would you fix? Seems like banks are trying to catch people out, clearly knowing that the variable rate will only drop lower than the fixed in the short to medium term. Imo the variable will soon follow down further. Only downward pressure to come.

    • El-Rhi on 10/05/2020 - 09:36
      +2

      How will variable go any lower?

      • Tock on 10/05/2020 - 10:57

        This. It is unlikely to move any lower and the Reserve Bank have said as much.

        • SonOfATightASS on 10/05/2020 - 14:12

          Only time will tell. I don't think that the full repercussions of this lockdown and the effects on the Aus and global economy have been fully felt yet. Like I said, it's just my opinion.

      • SonOfATightASS on 10/05/2020 - 14:15

        All I know is I don't trust the banks.

        • El-Rhi on 12/05/2020 - 06:43
          +1

          This article is from 2018 when the cash rate was 1.5%, so it’s irrelevant in current times. Variable rates aren’t going any lower.

          The reason fixed rates are so much lower than variable these days is because of the RBA’s term funding facility which lets banks fund their longer term fixed rates at 0.25%, and other quantitative easing measures which is keeping the yield curve down.

          • SonOfATightASS on 14/05/2020 - 19:15

            @El-Rhi: Thanx for your insight. I don't work in the sector, sounds like you might. All the best in these uncertain times!

  • Swankenstein on 09/05/2020 - 20:49
    +2

    Jesus christ look at those comparison rates. Is there a few thousand dollars worth of upfront and yearly costs?

    • tunzafun001 on 09/05/2020 - 21:02

      Their variable rate you revert to at the end of the fixed period is high (I was with them and left for this reason). They want you to be a serial fixing customer. But not in this economy. When rates were around 8% these guys with their fixed + 100% offset loans were great (around 7% at the time).

      • Matt P on 09/05/2020 - 21:13

        Can be a big problem if your circumstances have changed once the fixed period expires.. i.e. down to one income due to children etc.. and you can't refinance

        • EmployeeJassie Singh @ Josh Financial Services on 09/05/2020 - 21:17

          No one knows the future. Let us say you have 500K loan and Varuibale now is about 2.89% with offset. With these loans, you will be ahead by 10K in 3 years if rates don't change.

          • tunzafun001 on 09/05/2020 - 21:32
            +1

            @Jassie Singh: What would TMB's revert variable rate be if your fixed period ended today? It would be something rediculous like 5.2% ?

            This is a product where you are committed to recrunching the numbers every 2 years and refix or willing to leave.

          • demiurge on 10/05/2020 - 11:38

            @Jassie Singh: So why is the comparison rate so high? How much fees are you charging?

  • apra143 on 09/05/2020 - 20:50

    100% offset facility*
    Elaborate on the * part please.

  • PissLUR on 09/05/2020 - 20:55
    +3

    Checking the comparison rate is more important than the advertised rate.

  • thydzik on 09/05/2020 - 20:55

    what's are your variable rates you are getting PPOR P&I?

    • EmployeeJassie Singh @ Josh Financial Services on 09/05/2020 - 20:59

      We will be able 2.64% (cr 2.69%) from Citibank

      • thydzik on 12/05/2020 - 10:59

        with offset? any signup cashback?

  • Boogerman on 09/05/2020 - 20:56
    -2

    Shocking comparison rates

    • EmployeeJassie Singh @ Josh Financial Services on 09/05/2020 - 21:02
      +1

      The comparison rate is very misleading. It is Home Loan comparison rate based on a $150,000 loan over 25 years. Fixed loan comparison rate applies only for loans with an LVR of 80% or less and a loan amount of $150,000 to $249,999.

  • stockastics on 09/05/2020 - 21:03

    Op- which bank is offering offset with a fixed loan? Never heard of it before? I thought there is a limit to the amount of money u can prepay in a fixed loan

    • EmployeeJassie Singh @ Josh Financial Services on 09/05/2020 - 21:12

      Few banks offer this. Teachers Mutual Bank and Adelaide Bank

    • tunzafun001 on 09/05/2020 - 21:25

      The big 4 have been excellent in convincing people that fixed loans dont have offset accounts. I have only had these loans over the last 10-15 years. I was with TMB, but moved to Easy Street (Community First Credit Union). They offered a better Variable/ fixed split loan - both are 100% offset.

  • kgb007 on 09/05/2020 - 21:05

    Bad comparison rates. Also, Op posted a previous deal with cashback. Clearly advertisement/spam.

    • tunzafun001 on 09/05/2020 - 21:29
      +3

      In fairness, the comparison rate isn't equipped to deal with loan products like this.

      Personally I find them almost useless for offset loans if you have spare cash. Look at all the fees in/out/ongoing, fixed rate, revert to variable rate and make a choice.

      • EmployeeJassie Singh @ Josh Financial Services on 09/05/2020 - 21:32

        It is completely misleading
        https://www.joshfs.com.au/calculators/comparison-rate/

        • Gradesbrah on 09/05/2020 - 21:58

          Can you provide an explanation of the significant variation without saying the fees are high. When you get to lower interest rates the fees become a greater proportion of the comparable rate, not less. It is the inverse of increasing the principle as the interest cost each year increases proportion to loan value.

        • GuyfromMelbourne on 10/05/2020 - 00:35
          +2

          Jassie I get your point that comparison rate is not specific to a particular scenario. And thanks for calculator link but how would someone calculate until they know all the fees. Which you haven't mentioned.

          Also, what are you trying to sell here? The same rates are available via any broker.

          People are offering 0.3% from broker's comission. On top of bank offers.

  • asa79 on 09/05/2020 - 21:52

    isnt mates rates doing 1.89% with ing

    • jag007 on 10/05/2020 - 09:49

      I am unsure. They were offering 2.09 for fixed and unsure if they have offset option.

    • EmployeeJassie Singh @ Josh Financial Services on 10/05/2020 - 10:03

      2.09%

  • SonOfATightASS on 09/05/2020 - 23:47
    +4

    Even ANZ offer 2.19% with $4k in your pocket fixed for 2 years. At least they give you $4k,which will more than offset the fees in this time.

    • EmployeeJassie Singh @ Josh Financial Services on 10/05/2020 - 10:03

      It depends on the loan amount..Everyone is diferent.

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