P&I packaged HOME LOAN
* 1.99% for 2 years fixed for home loans (CPR 2.52%)
* 2.09% for 3 years fixed for home loans (CPR 2.94%)
* 2.29% for basic/standard variable rate without offset (CPR 2.31%)
* 2.59% for variable with offset (CPR 2.99%)
P&I packaged INVESTMENT LOAN
* 2.29% for 2 years fixed for investment loans (CPR 3.29%)
* 2.39% for 3 years fixed for investment loans (CPR 3.23%)
* 2.59% basic/standard variable (CPR 2.99%)
* 2.49% basic/standard variable (CPR 2.89%) – when mixed with Owner Occupier loan
* 2.79% standard variable offset (with offset) (CPR 3.18%)
* 2.69% standard variable offset (with offset) (CPR 2.98%) – when mixed with Owner Occupier loan
Interest Only INVESTMENT LOAN
* 2.49% for 2 years fixed for investment loans (CPR 2.63%)
* 2.59% for 3 years fixed for investment loans (CPR 3.58%)
* 2.89% basic/standard variable (CPR 3.19%)
* 2.79% basic/standard variable (CPR 2.81%) – when mixed with Owner Occupier loan
* 3.19% standard variable offset (with offset) (CPR 3.28%)
* 3.09% standard variable offset (with offset) (CPR 3.18%) – when mixed with Owner Occupier loan
*rates are subject to lender changes
** Citibank offers free 60 days rate fix for all fixed rate applications
Fees for Mortgage Plus Package loans
$250 upfront fee
$350 annual fee
Fee without Mortgage Plus Package
$399 Application Fee
$250 Settlement Fee
$8 per month per loan split
$4,000 cashback ONLY available through Premium Select Status Brokers
Due to our Premium Select Broker status with Citibank, we are able to offer our clients $4,000 cashback from Citibank, with priority turnaround times and special discounted rates. Eligibility criteria applies:
* Total loan size must be >$350k
* <80% Loan to Value ratio for houses or low density dwelling (<30 units in complex)
* <65% Loan to Value ratio for high density dwelling (>30 units in complex)
* $4,000 per application (max 2 applications per client)
* condition applies
What is a comparison rate (CPR)?
The comparison rate is calculated for a secured loan for an amount of $150,000 over a 25 year term. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, or cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
Comparison rate can very often be misleading as it uses assumptions that are often irrelevant to an individuals circumstances. Typically it assumes a loan size of $150k over 25 year loans term which is irrelevant to majority of borrowers. It also assumes the borrower will remain with the same lender for the whole 25 years on a revert rate which may also be misleading as most Australians refinance their home loans every 2 – 4 years. So often comparison rates can cause more confusion than help. However due to government regulations, banks and brokers MUST quote these CPR when quoting a home loan interest rate. As a general rule of thumb, it’s best to look at the actual interest rate & repayment (including fees) for the same loan amount over the same specified period when you compare loans. We can help in doing this accurately and systematically.
For further details about this deal or other 35 lenders we work with, please contact directly via email or phone. Alternatively, you can book in a phone call with me on the link below. Messages on Ozbargain may receive delayed response. Apologies in advance for any delays in responses on ozbargain due to overwhelming enquiries. Thank you.
RCA Finance Solutions (Trading as Mortgage Better) is an authorised credit representative (CRN 508268) of QED Credit Services PTY LTD (ACL 387856).