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Home Loan Rates from 1.84%, 1 Day SLA, $2,000 Cashback on Purchase or Refinance @ 86400

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86 400 has recently updated their rates and extended their cashback offer; their new offering includes a significant reduction to their fixed rates and unlike most lenders, their $2,000 own home loan cashback offer is available for purchases as well as refinances.

Unlike the major banks (who have largely seen their turnaround times blow out to weeks or months), 86 400 are offering a 1 business day SLA for initial application processing and have built out some impressive technology to automate and speed up much of the application process.

They have also built a great mobile banking app, which can help users keep track of upcoming debits and spending across all of their accounts (including those with other institutions).

Finally, since 86 400 are now owned by nab, customers will benefit from the peace of mind of knowing that they are backed by one of the 4 Australian majors.

Most competitive 86 400 rates are as follows:

Owner Occupied P&I:

  • 1 Year Fixed Own home loan = 1.84% (2.66% CPR)
  • 2 Year Fixed Own home loan = 1.89% (2.61% CPR)
  • 3 Year Fixed Own home loan = 1.99% (2.62% CPR)

  • Variable Own home loan (with 100% offset):
    <60% LVR = 2.39% pa (2.68% CPR)
    <70% LVR = 2.44% pa (2.73% CPR)
    <80% LVR = 2.54% pa (2.82% CPR)

  • Neat home loan variable (no offset or cashback):
    <60% LVR = 2.19% pa (2.20% CPR)
    <70% LVR = 2.29% pa (2.30% CPR)
    <80% LVR = 2.34% pa (2.35% CPR)

Investment P&I:

  • 1 Year Fixed Own home loan = 2.24% (2.86% CPR)
  • 2 Year Fixed Own home loan = 2.24% (2.81% CPR)
  • 3 Year Fixed Own home loan = 2.24% (2.82% CPR)

  • Variable Own home loan (with 100% offset):
    <60% LVR = 2.59% pa (2.87% CPR)
    <70% LVR = 2.69% pa (2.97% CPR)
    <80% LVR = 2.79% pa (3.07% CPR)

  • Neat home loan variable (no offset or cashback):
    <60% LVR = 2.44% pa (2.45% CPR)
    <70% LVR = 2.54% pa (2.55% CPR)
    <80% LVR = 2.64% pa (2.65% CPR)

Investment IO:

  • 1 Year Fixed Own home loan = 2.44% (2.87% CPR)
  • 2 Year Fixed Own home loan = 2.44% (2.83% CPR)
  • 3 Year Fixed Own home loan = 2.49% (2.85% CPR)

  • Variable Own home loan (with 100% offset):
    <60% LVR = 2.99% pa (2.99% CPR)
    <70% LVR = 2.99% pa (3.05% CPR)
    <80% LVR = 3.09% pa (3.15% CPR)

  • Neat home loan variable (no offset or cashback):
    <60% LVR = 2.84% pa (2.60% CPR)
    <70% LVR = 2.84% pa (2.66% CPR)
    <80% LVR = 2.94% pa (2.75% CPR)

Standard Fees
  • Own home loan = $250 upfront fee, $250 annual fee
  • Neat home loan = $250 upfront fee, nil ongoing fee
Additional Fees
  • 86 400 will cover the first $300 of valuation fee; additional val fee payable at cost if above this.
  • $500 optional rate lock fee
$2,000 Cashback Requirements
  • Available for 86 400 Own home loan refinance or purchase applications (not available for the Neat home loan product).
  • Must apply by 30 June 2021.
  • Must settle by 31 August 2021.
  • Minimum loan amount of $250,000.
  • Maximum 1 cashback per primary borrower.

Comparison Rates

Any quoted comparison rate is only true for the example given and may not include all fees and charges. Different terms, loan amounts or fees may result in a different comparison rate. Comparison rates are based on a loan amount of $150,000 over a loan term of 25 years.


HOW TO APPLY

You can apply through an 86 400 accredited broker, of which we have several across our team of specialists.

Our team is here to help, and will work to ensure we obtain the best pricing and offers possible for you. You can lodge an enquiry via our platform here - https://loanbase.com.au/compare-home-loans-fva, or contact one of our brokers directly with their details below.

Leo Gonzales, Email: [email protected], Calendar link: https://calendly.com/loanbase-leo/initial
Eric Cheng, Email: [email protected], Calendar link: https://calendly.com/loanbase-eric/quickchat
Andrew Loucas, Email: [email protected], Calendar link: https://calendly.com/loanbase-andrew/quickchat

Please contact us to confirm the best deals you could qualify for, as well as discuss any broker cashback that may be applicable, which will depend upon your utilised loan size.

Loan Base Pty Ltd (ABN 95 162 141 915) ยท Australian Credit Licence Number 508 308
Head Office: Level 1, 1-5 Link Road, Zetland, NSW, 2017. Phone: 1300 512 377.

Referral Links

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Referrer and referee each receive $10 after first card purchase by referee.

Related Stores

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closed Comments

  •  

    I'm going to guess that nab customers are ineligible for the refinance offer?

    •  

      Good question and is often the case with cashback offers; however since nab only recently purchased 86 400, I don't believe this is a restriction. Cashback terms and conditions can be found at the bottom of this page and don't mention anything about nab customers being ineligible. https://www.86400.com.au/home-loans/own/

  •  

    Refinancing with UBank is cheaper at 2.34% for <80% LVR with no fees of any sort, ever.

    •  

      Ubank and 86 400 are actually in the process of merging now, but for the time being, some of the main comparative advantages of 86 400 over Ubank are:
      1.) Same variable rate for neat 70 - 80% LVR (2.34%), lower rate for <70% LVR (2.29%), even lower rate for <60% LVR (2.24%).
      2.) Faster application process and better tech / phone application.
      3.) $2,000 cashback on refinances or purchases on the "own" product range (no cashback with UBank).
      4.) Sharp 2 year fixed rates (I don't believe ubank offers 2 year fixed rates at all).

  •  

    When we say 1 day SLA, what does it mean? Kind of meaning less if merely an acknowledgement.

    •  

      SLA measures the time to first pick up by an actual credit assessor (not just pre-assessment, who only check whether all docs are present or not).

      We received an email on Monday indicating that 86 400 are currently beginning triage on new deals in less than 2 hours and beginning credit assessment in less than 24 hours from application submission.

      Since assessment of simple deals can be completed quite quickly, thanks to the technology solutions 86 400 have implemented as a neobank, we have seen applications get approved within days of submission.

  • +2 votes

    I recently moved my loan to 86400 and am absolutely loving it.
    I used a broker and the experience was painless, but it's worth noting you can do it all yourself online:
    https://www.86400.com.au/home-loans/get-started/

  •  

    OP - how about new construction loans? Whats the max LVR for house & land type loans?

    •  

      Hi randomdude14, I don't believe 86 400 do construction loans; we generally write these with lenders such as Adelaide Bank, Bankwest, or one of the majors where max LVR for owner-occupied can be up to 95% (more if you have a family pledge / security guarantor arrangement available).

  •  

    Offset costs 42 basis points ouch

  •  

    If I purchase an investment property, will I have a pre-approval through this process? Is the cash back applied for investment property?
    What product suitable for me?