Lowest Variable Home Loan - Q3 2020

(Terribad) Reduced Homeloan - 2.29
Application $440, Valuation fee $250, Legal fees $330++, Settlement fee $150, No Discharge fee?, Offset +0.05%
Heard that existing customer rates nowhere near current offering?
https://www.ozbargain.com.au/node/428882#comment-6788194

Tic Toc - 2.39
Legal fees $60-200, Discharge fee $325, Offset $10/m
Heard that existing customer rates nowhere near current offering?
https://www.ozbargain.com.au/node/379032

State Custodians - 2.49 (60% LVR)
Legal fees $unknown, Discharge fee $300+legal, Free Offset
Any existing customer mind to disclose your current var rate with them? And legal fees?

Athena - 2.59
No Legal fees?, No Discharge fee, No Offset
No backbook pricing so existing customer get same rate as advertised.
But heard they're scaling back and not doing well.
https://www.ozbargain.com.au/node/522158?page=2#comment-8509...

Ubank - 2.59
No Legal fees?, No Discharge fee, No Offset
Any existing customer mind to disclose your current var rate with them? Same as advertised?

Or, go with ANZ/NAB/St. George cashback $4,000 if still available?

Poll Options

  • 0
    Reduced Homeloan 2.29%
  • 5
    Tic Toc 2.39%
  • 1
    State Custodian 2.49%
  • 0
    Athena 2.59%
  • 2
    Ubank 2.59%
  • 3
    ANZ/NAB/St. George $4000 cashback

Comments

  • Maybe add a poll

  • In case you didn't know there is a very active thread at WP discussing 'best home loan rates'

  • Why pay more for variable, when you could just fix for 12 months?

    Even if rates dropped. Would providers still pass on the savings?

  • Or another stategy - go with the best cashback (ANZ/St gerorge et al.) - then go to tictoc/reduce after a year or so

    And strategy b - refinance every year or 2 to whoever has the biggest cashback - to earn $4k every time

    Being a new customer of any institution seems to get you the best rate - so it pays to move whether it be for the cashback or the better rate.