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Mortgage Broker Refinance Deal - $500-$1000 Extra Broker Cashback on Top of Any Lender Offer @ Integral Loan Solutions

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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.

Refinance rebates
Bankwest 2k
CBA 2k
NAB 2k
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
ANZ 3k

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

Kind Regards

Adrian Player | Director

M: 0416643638

E: [email protected]

W: www.integralloansolutions.com.au

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

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closed Comments

  •  

    Is this a one man operation?

    •  

      Is that a bad thing?

      •  

        Nope

    • +1 vote

      Yes just me.

  • +2 votes

    Can vouch for Adrian - has been the best broker I've used.

    •  

      Appreciate that!

  •  

    PM sent

    •  

      Responding to it now. Thanks.

  • +1 vote

    Can also vouch for Adrian. Helped me out with my refinance last year and got me the 4k cashback! Smooth process! Top bloke!

    •  

      I appreciate you saying that Jonathan if its the same person im thinking of. Spoke to your mate this afternoon for 10-15 mins.

      • +1 vote

        Yup its me 😋

  •  

    Sent an email :)

    •  

      Dont want to miss it? Is this Daniel?

      •  

        Sorry yes it is

        • +1 vote

          Perfect ive sent you the fact find form and let me know when to call you and we can discuss options.

  • +1 vote

    I recently had my refinance processed by Adrian and it was a smooth process. Happy to recommend.

    •  

      Appreciate you saying that!

  •  

    Pm sent

    Looking to refinance ! Hopefully smooth and quick :)

    •  

      Just responded to your pm Alexis.

  •  

    Also used Adrian and was a great process would highly recommend anyone looking.

    •  

      Appreciate it.

  •  

    Looking to refinance 350k on 500k house. What's the variable rate for Citi with and without offset?

    •  

      2.49% variable with offset on owner occupied. 3k rebate as long as your loan size is 350k or more and under 80% lvr. Also be aware citibank have a funny unit policy. If your unit block is less then 2 years old or more then 30 units in the block they limit the lvr to 65% due to their high density policy.

      The redraw product is 2.29% variable with redraw with citibank.

      •  

        Thanks, those are the best rates I've seen. I'll have a chat with my partner. Not in a unit so that doesnt matter.

        •  

          Just be careful those rates dont show online. The Citibank bdm switches the rate after submission. They have extended their offer till the end of this month.

        •  

          stay away from citibank. they do not pass all rate cuts to existing customers. I started off on a low interest variable rate comparable to the market couple of years ago. Now i am paying 2.94 variable rate as they did not pass all the rate cuts. I wanted to fix at 1.99% fixed rated but they have $8 a month fee for fixed home loans.

          •  

            @Moncastle: Thats pretty par for the course with most banks if you stay on variable. Thats why fixed rates are so much lower then variable right now. Not a citibank specific issue.

          •  

            @Moncastle: That monthly fee isnt due to the fixed loan. Its because you have more then 1 homeloan under the package.

  •  

    Hey op I’ve got preapproval for investment variable loan with homeloans.com.Au at 2.39% no honeymoon rate and Fees
    and charges
    $0
    Application
    $0
    Valuation †
    $0
    Annual
    $300 plus legal
    have you anything better?

    •  

      Sounds like a very good low rate low fee deal. Citibank would be close to that with a 3-4k rebate for purchases and a variable redraw rate 2.49% on investment up to 80% lvr. 600 in citibank fees on that product and no annual fee.

      Much of a muchness there isnt a lot of savings moving to citibank i would stay on that since you've already made that choice.

    •  

      The citibank deal is close with a 2.49% variable redraw rate + 3-4k cashback for purchase + 600 in fees from citibank.

      Suncorp also came out with a 2 and 3 year fix for invetsment P&I 2.28% up to 80% lvr 375 annual fee waived first year and no other fees for Suncorp.

      But you are on a very good deal already so i wouldnt be moving since your already pre approved.

      You are on a great deal already.

    •  

      Thats a pretty great deal, the citibank one is close. But since your pre approved already i wouldnt be moving for such small amounts.

  •  

    What about HSBC?

  •  

    The citibank rate is good. I will book to have a chat and check what the associated fees are?

  •  

    Who has the lowest fixed rate with cash back and redraw or offset capabilities?

  •  

    The citibank deal is close with a 2.49% variable redraw rate + 3-4k cashback for purchase + 600 in fees from citibank.

    Suncorp also came out with a 2 and 3 year fix for invetsment P&I 2.28% up to 80% lvr 375 annual fee waived first year and no other fees for Suncorp.

    But you are on a very good deal already so i wouldnt be moving since your already pre approved.

    You are on a great deal already.

  •  

    I will book to have chat. the Citibank rate is really good.

  •  

    Thats a pretty great deal, the citibank one is close. But since your pre approved already i wouldnt be moving for such small amounts.

  •  

    Is there a big difference in rates for <80% and 90% LVR loans?

    •  

      Yes many of the lender start loading the rates up if its a 90% lvr deal.

      Send me an email or book an appointment and I can show you what's available.

    •  

      Yes a very good deal. They keep extending it every month. But citibank is a smaller lender so I wouldnt be suprised if they switch it off at the end of this month after they get enough applications in their pipeline to meet their targets.

    •  

      Always budget for a minimum of

      350 discharge fee current lender
      350 mortgage transfer charges government
      and new lender fees
      if its citibank
      600 for the redraw variable product
      or
      350 annual fee
      250 up front fees
      for the offset or fixed product.

    •  

      That would be st george or citibank.

    •  

      Ok perfect talk soon

  • +5 votes

    Apologies for the multiple comments. I'm getting oz bargain server issues every time I try and reply.

    •  

      So many dupes hahaha :D

  •  

    Emailed :)

    •  

      Perfect responding to email this morning.

  •  

    PM sent. Cheers.

    •  

      Just responded, speak on Monday.

  •  

    Can you get the rate lock fee waived with St George?

    • +1 vote

      No ive had a few of those enquiries already and my st george bdm said no.

      •  

        Do they still charge the fee if the rate hasn’t changed?

        •  

          Yes they still charge the fee as its protected you for a 90 day period from any changes. SImilar to most other banks and how the lock rate works.

  •  

    Hi, Is it quicker to go through a broker to seek approval for a home loan?

    •  

      If you are looking for a pre approval the main banks i use for this that have quick sla's are:

      Bankwest / Advantedge / ING / Suncorp / Resimac / NAB / Me bank / Firstmac / Resimac / Macquarie / AMP

      Most of these lenders take 1-3 days to pick up a file and have you pre approved within 1 - 1.5 weeks.

      Similar to if you walked straight into a branch.

  •  

    Adrian, do you work with Tic Toc? The fixed rate looks very enticing. But is it just that enticing with a plethora of problems.

    •  

      No broker has tic toc on their panel - You would need to go direct with them. But be careful their tech doesnt allow for a wide range of deals and their risk profile is very low they decline a lot of deals for anything like high lvr / tight deals / a lot of over time bonus or comms / policys like maternity leave / abn a very long list of deals.

  •  

    Adrian
    are there any deals on Owner Occupied Interest Only (fixed for 2-3 years)? House worth $3.5m, $1m P&I, $1m IO (approx) so overall LVR is 57%.
    MH

    •  

      Many banks cause issues now with io on owner occupied unless we go at it from the angle of sophisticated investor that is debt recycling for investments. Ive gotten a few of these done through suncorp recently.

      Teachers mutual bank 2.35% owner occupied 2 & 3 year fix io + offset account sitting against the fixed portion. Would be one of the target banks in this owner occupied io space.

  •  
    Merged from Mortgage Broker Home Loan Refinance Deal - $500- $1000 Extra Broker Cashback on Top of Any Lender [email protected] Integral Loan Solutions
    Go to Deal

    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 4-5 lenders at the moment for refinances:

    St George - Still running a 4k rebate extended. Is a little slow taking on average 4 weeks to get to an assessor and extended delays on the back end to generate docs and settle at the moment. Owner occ 2.54% basic no frills redraw product comp rate 2.56%. Investment 2 year fix 2.24% P&I comp rate 3.89% reduced after a pricing request. Self employed and payg contractors are having big problems getting deals through in st george and westpac at the moment. A lot easier through ANZ and CBA of late for these 2 types of clients. Also the sla for those type of deals is double the normal sla. Also 4 and 5 year fixed rates moved up in the last few weeks.

    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%)

    Basic variable (with redraw, no offset) - 2.49% (comparison 2.51%)

    Rates are for LVRs below 60%, add 0.05% if between 60-80%.

    Westpac The problems that Westpac had 6-18 months ago have now flowed onto st george. So im finding clients that want a similar rate to st george but a 3k rebate and a much quicker up front sla and not as many delays on the back end that we are experiencing right now with st george are now being submitted to westpac. 4 and 5 year fixed rates moved up in the last few weeks.

    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. Yes Citibank is withdrawing from the Australian market in the next 1-2 years. Not sure exactly when.

    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. They have started a new campaign where every client first home buyer or multiple home buyer get annual fee waivers for the life of a 30 year homeloan. Doing a lot of purchases through here for this reason. Im GOLD level status with Suncorp which means i get quick sla's and service levels here.

    Adelaide bank 1.94% 2 year fix 2.63% comp rate + offset is the main reason why people go here and mainly for pre approvals or purchases. Sla has gone out to 8-10 days.

    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.

    Refinance rebates
    Bankwest 2k
    CBA 2k
    NAB 2k
    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
    ANZ 3k

    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.

    Business notes Due to a lot more time and effort needed to settle a deal especially through St George channels of late ive had to delay this current post 3 weeks till now to prioritise current clients and make sure i put in the effort required to get deals settled. This involves hours spent on hold waiting for broker lines per file multiple times(Their portals half the time dont give us updates and neither do their emails), some files we've had to send 5-10+ follow up emails for 1 deal over multiple weeks to get deals through & client communications. Ill only be able to take on another 10-12 clients this month. No more 15-20 client months until this settles down on an sla and congestion level with some of the lenders.

    Types of clients suitable on a plus 3.00% rate? or havent reviewed your mortgage in 18-24 months? We are looking for clients that are seeking a broker relationship that will be reviewing their position every 2 years to make sure its competitive to the market.

    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

    Kind Regards

    Adrian Player | Director

    M: 0416643638

    E: [email protected]

    W: www.integralloansolutions.com.au

    Adrian Player is a credit representative (498364) of BLSSA Pty Ltd ACN 117 651 760 (Australian Credit Licence 391237).

    •  

      Is there any simple way of working out the comparison rate for the relevant loan amount?

      • +1 vote

        In a short answer no. Its an outdated and irrelevant tool the government created 10+ years ago when loan sizes were much lower. Also most loans are 30 years not 25 years which is what a comp rate is based on. All i can suggest is this. Compare like for like products ie

        Variable redraw products vs variable redraw products.

        Compare the fees up front and ongoing and the interest rate.

        Dont compare say a 3 year fix vs a variable offset product.

        *Comparison rate is calculated on a $150,000 secured loan, over a 25-year term

      • +1 vote

        Did quick google search and found this link. Looks pretty good.

        https://www.afgonline.com.au/calculators/comparison-rate-cal...

    •  

      Hey OP, is it difficult to refinance a 10 year old loan of $180K? I think 3.2% is a bit high and I should be getting something better.

      • +3 votes

        Most banks your loan needs to be 250k or more to qualify for refinance rebates. So costs you will incur normally are:

        350 govt charges mortgage transfer
        350 estimated discharge fee current lender

        ??? new lender app fee
        300-400 new lender annual fee

        On a smaller loan size these fees hit you harder. You wont save as much on interest rate drops on small loan size. If it was me id contact my current bank and see if you can get a 2 to 3 year fix in the realm of 1.84-2.00% if possible? To get a mixture of lower rates while not getting hit with refinance fees.

        Always when fixing make sure you wont be selling the property or lump sum paying it down any time soon to avoid break costs. Also always leave a portion variable for extra repayment if you think you can make an extra 10k or more in extra repayments per year.

        PM me the bank if you want me to suggest something a little more personal to your situation.

        •  

          Thanks for the advice. I’ll call the lender first, see if they come on board

    •  

      With CBA and Westpac Group raising their four year fixed rates, would you assume that NAB won’t be far behind? Thanks

      • +2 votes

        We can only guess. But yes when one of the majors moves the majority of the others follow. Normally they occur within a month of each other.

    •  

      Do you do CUA @1.79% fixed for 2 years with extra cash back?

      I’m with Westpac and stgeorge cash back is not applicable but would have been the best offer.

      •  

        Sorry i dont have cua on my panel.

    •  

      FYI I did application with homestar in Feb and loan has been finally pre-approved!! a normal refinance and it's taking ages for them.

      Be careful with smaller organisations.

      • +1 vote

        Funny side note - a home star lender called me to help with one of their clients mid this week as they needed a guarantor loan that they do not do. She said she was managing 170+ files all at the same time and their credit team were over loaded and they only had 13 lenders Australia wide. Great rate but very slow and tight lending process with no rebate to cover fees of refinancing.

        •  

          I told them I have lost $s in the wait, $s for paying for home valuation, $s for the application fee, $s for Landgate, etc..

          poor experience :(.

          mine was simple refinance and good repayment history.

          unsure when they will actually approve the loan!

          • +1 vote

            @s26f84: Sorry to hear about your poor experience there. Were noticing this across multiple lenders of late. Thats why every clients needs to know these things. If a lender like ing will take 1-1.5 months max to refinance you and another takes 4-5 months. Then you need to factor that in. Especially if your loan size is large and you are on a bad rate currently. After the longer wait time the cashback barely covers the difference. Or similar quick lenders like White labelled nab / Macquarie / etc.

    • +1 vote

      +1 for the effort.

      •  

        Cheers, hope you are well.