Providing an update on recent lender changes this last month and what the majority of my client base has been doing this past month.
Most of my clients are going to these 3 lenders at the moment:
St George - Still running a 4k rebate extended. Is a little slow taking on average 4-6 weeks to get approvals. Owner occ 2.04% 2 year fix comp rate 3.41% reduced after a pricing request which is slightly reduced for lower lvrs. Owner occ 2.54% basic no frills redraw product comp rate 2.56%. Investment 2 year fix 2.44% comp rate 3.93% reduced after a pricing request.
edit - St George & Westpac has just dropped fixed rates - 08/03/2021 10am
Fixed 2 years - 1.79% (comparison 3.43%)
Fixed 3 years - 1.88% (comparison 3.35%)
Fixed 4 years - 1.89% (comparison 3.21%)
Basic variable (with redraw, no offset) - 2.49% (comparison 2.51%)
Rates are for LVRs below 60%, add 0.05% if between 60-80%.
Citibank - 3k rebate 350k to 750k and 4k rebate for 750k + loans for refinances and purchases. 5-7 days sla at the moment(Extended rebate campaign for March 2021) Providing 20-30 basis points off headline variable rates online through the citibank broker bdm for 350k+ balance and under 80% lvr from their quoted online rates through the citibank bdm pricing approval. This makes the majority of citibank variable rates in the top 3 best on market right now. Once you account for the refinance rebate its best on market. Has the lowest 2 year fixed rate on market for investment on P&I and IO. 2.29% comp rate 3.26% P&I and 2.49% io 2 year fix comp rate 3.53%. owner occupied 1.99% 2 year fix 2.97% comp rate.
Suncorp - 1.89% 2 year fix owner occupied comp rate 2.94% reduced after a pricing request. Investment fixed rates 2yr & 3yr P&I 80% LVR @2.28%
Investment fixed rates 2yr & 3yr IO 80% LVR @2.49%. No rebate at the moment. It was expired on the 18th of december. First home buyers annual package fee waiver for life with reduced rates for high lvr loans for first home buyers.
Construction Im getting the majority of these done with Bankwest / Advantedge - white labelled nab / Suncorp / Me bank / Adelaide bank quick sla good rates and not causing issues on valuations and construction process.
Westpac 3k + 2k per extra property
Me bank 2k
St George 4k + 2k per extra property
Citibank 3k 350k loan size to 750k and 4k for balances over 750k under 80% lvr purchases and refinance
Broker Cashback $500 for balances between 250k and 650k net of offset & $1000 cashback for balance over 650k net of offset. Broker rebate paid post settlement normally 2 months post settlement.
My experience 7 years in commsec and cba on a margin lending desk and as in in house cba branch home lender. 4 years as a mortgage broker running my own company.
You can book an appointment straight into my calendar - https://calendly.com/adrianplayermortgagebroker/15min
Adrian Player | Director
Adrian Player is a credit representative (498364) of BLSSA Pty Ltd ACN 117 651 760 (Australian Credit Licence 391237).
PS - Website fixed based on previous suggestions last month