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

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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.

2 lenders are giving under the table deals right now:
Both banks head line rates shown online is not matching what you can get after doing a pricing request or contacting the banks bdm
CBA ie 2 year fix shows as 1.94% owner occ P&I but im seeing 1.79 - 1.84% rates being approved after pricing applied
Citibank all approved via bdm request. best on market for all variable + cashback rebate.

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 2 months.

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 deals i typically send here are the ones that want a close to st george rate + rebate but much quicker as st george is flooded right now. 3k + 2k per extra security refinance rebate. A lot of multi portfolio refinances are going here as well.

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 June 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 2020. 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 saving $375 annually. 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.

Bluestone Getting the majority of my low credit score / poor repayment history deals here due to prime product rate and no credit scoring and no comprehensive credit reporting ie they dont call your old banks to see how poor your character was there.

La trobe SMSF deals mainly

Self employed only ANZ and CBA i wont send normal full doc self employed to any other banks at the moment due to issues lenders are causing. Including self employed contractors on rolling contracts.

Low doc and no doc self employed Resimac and i have 1 other lender on a sub 3-3.50% rate with accountant sign off depending on lvr.

Pre approvals Mainly using ING / Suncorp of late due to over all rates and a quick sla.

Construction Im getting the majority of these done with Advantedge - white labelled nab / Suncorp / Me bank / Westpac bank quick sla good rates and not causing issues on valuations and construction process.

Refinance rebates
Bankwest 2k
CBA 2k
NAB 2k
BOQ 3k
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.

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. Not suitable for fully offset clients.

We are also looking for long term relationships with clients, if you intend to refinance again or sell within 12 months, the banks actually claw us back on our upfront commission completely so we would be unable to help in these circumstances. I will do my best to reply to all comments.

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).

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closed Comments

  • +1

    Just writing a comment so I can find this post when I want to refinance in a months time.

    • No worries, if you want to get a jump start send me a pm regarding your scenario. If not looking forward to chatting in a months time.

    • Try the Reminder feature

  • +1

    Can I ask what rate your getting with Westpac (variable)? Also what fees are associated with the loan (sign up and ongoing)? Is there a minimum loan amount to qualify for the deal?

    • Depends if you want the intro 2 year honeymoon deal or not? 2.19% at 70% lvr and 2.29% at 80% lvr owner occupied P&I. Investment 2.49% at 70% lvr and 2.59% at 80% lvr. On package with variable offset a pricing request is needed.

  • +2

    Thank you for detailed information

  • +1

    Adrian helped me with refinancing my property and high recommend him.
    He helped me with breaking the fixed loan without any charge so that I can take advantage of the interest rate drop.
    Very happy to deal with.

    • Hi Syam, I assume thats you. Hope you and the family are doing well! Really appreciate the positive feedback. And remember we only managed to do that since the rate hadnt changed till the following day and we broke the loan that day and your settlement was very close to this. So very few occurrences can i get this done for people. But really happy we got the end result!

    • +1

      Highly doubtful that bank didn’t charge breaking fees for Fixed rates at the time of refinance.

  • +1

    Hi Adrian,
    Just wondering if credit score has any impact on mortgage acceptance,
    for reference, my score is average( 622) with no late payments, I churn 4+ credit cards a year, currently have only 1 cc with 6k limit with no outstanding balance.

    Can you also let me know the quickest time for preapproval?
    Thanks.

    Pagu

    • +1

      Most likely credit score no issue if its above 600. In your case credit enquiries over a 5 year period would cause an issue. If you have more then 20 enquiries over a 5 year period it will start causing an issue over 25-30 and you has issues. For instance ive had clients declined by a big 4 lender at 22 enquiries over a 5 year period.

      Certain lenders have a blanket policy on no balance transfers. If they see it they will decline you. Case and point macquarie bank.

      5 cs of credit.

      1 c is character. Major banks do not like clients seeking credit way too often. And also if you have less then a 20% deposit you not only have to have the bank say yes you need the lenders mortgage insurance provider to say yes.

      Pull a copy of your credit report for free through www.creditsavvy.com.au then send me a private message or email with the details no the report.

      Most likely if its bad i can get the deal done with a prime close to big 4 bank rate but with bluestone who dont credit score or do comprehensive credit reporting.

      As long as your last month statement is clean on liabilities and you dont have any defaults Bluestone will do the deal.

      SLA is 1-2 days max they are super quick.

      Amazing lender, 2 years ago these types of deals the rate and fees used to be through the roof. Not anymore.

  • +1

    Thanks for all the info. Just had a look on your website and you're located pretty far away from me. If I do decide to go with you for a home loan, do I need to visit your office?

    • Everything is over the phone / digital / via email / Skype if you need but most dont. At most some lenders have id requirements where you need either a jp for certifying documents or some lenders want you to take a selfie showing your face and holding the id up to the camera.

      Half of my client base is interstate.

  • Do you have any reputable developers in need of private lending?

    • I do a bit here and there and have 2 main private lenders ive vetted and used for my clients in the past. To get on this list, one of my colleagues or i had to have dealt with the lender in the past, no big sign up fees, comparable rates to what ive seen at my other 2 reputable lenders, good customer experience process, deal with clients fairly ie dont give them an approval then pull it to collect fees, can hit the time frames required and have been in the game for a while. Most dont meet this criteria. Private lending space is full of sharks trying to take Advantedge.

      i assume you are a lender trying to get me to refer my client base to you?

      • Mandated to you of course, but yes. Can I text you privately?

        • Sure but ill be honest 99% of the time i wont use your private lender. I have 2 ive vetted and trust already. Very complex space and i will never put my clients into a lender that i dont fully vett or fully trust.

          • @Adrian Player: Fair enough, I've sent you a message. Trust goes three ways. Especially when big money is involved.

  • +1

    Can you please more detail about SMSF deals? How it’s works?

    • Normally the lvr is around 60-70%. You normally need a minimum in your superfund of 100-200k to start. The lender has a service that sets up a smsf if required or you can get yours set up by your local accountant. Rates start at 4.50% to 5.00% depending on the lvr you want. And most of the time i run it through either la trobe or a think tank white label product called fast excel. You send me over a list of superfund documents and payslips and we get the app prepped and signed and submit to the bank to get you pre approved. Then you go out and find a property.

      • Thank you. Can I combine more than one people superfund to buy as join holder? Or should I have funds in my name

        • It makes it a lot less complex having just 1 superfund buying 1 property. So normally if you have a husband and wife you can combine both superfunds into a joint smsf before buying the property.

          • @Adrian Player: Okay sure it’s basically myself and my wife to combine and buying the property. I’ll message you for further clarification thank you

  • You have mentioned about minimum 1 year before considering refinancing after we go with you as you have to pay back to lender if we go to different lender. Is it for two years or one year?

    • We check our clients loans every 2 years for better rates and refinance if the current lender doesnt drop their rates or get you onto a better deal.

  • I have switched from stgeorge to ANZ 6 months ago, would I be eligible and will it impact the credit history ?

    • Stay with ANZ. You shouldnt be moving lenders so quickly.

      • Any particular reason as I have seen people refinancing multiple times a year for cash back offers

        • Yes you will eventually start being declined for poor character part of the 5 cs of credit. If not for that for too many credit enquiries on a credit report. Ive already had a client(That didnt listen to me) that tried doing this for a 3rd time in 18 months declined for too many credit enquiries by a big 4 bank. And ive had 2 clients call me that didnt write their initial deals call me as the bank was chasing them for the cashbacks since they jumped ship too quickly.

          I can also see banks starting to chase all clients for the rebates if they join then leave so quickly. Banks have 1000s of lines of term and conditions in their documents and many of those terms are about clients disclosing and acting in fairness to the bank. Cashback jumpers havent reinvented the wheel, all they have done is ramped up their actions over the past 2 years and most likely it will force banks hands soon to start implementing some of these steps ive mentioned.

  • what state are you based in?

  • Might have to be in touch soon.

    • Send me a pm or email.

  • Is this offer simply an extension of your offer from last month? I find it hard to believe your previous cashback offer must finish on 1 June but 3 days later you found the budget for an identical offer.

    • I run it every month and expire it every month to update either the rates or offers if required.

  • -2

    Good to see you finally updated your website.

    • +1

      Remember everyone is dealing with something that you have zero clue or understanding on. So the next time you want to troll someone like you did on my post a few months back or a small business owner or person on social try to act with a little compassion. I could of given you the real reason why the website wasnt updated which was completely out of my control. But why justify it to you a troll causing issues? It has zero impact on my service as a broker. But again why would i justify that to you. You are just a troll trouble maker. Dont see why you felt the need to come reply here again? Maybe to make a point? Ive already told you you arent my type of client so lets """""not""""" do any business together. You spend your time trolling people i spend my time helping people. Character shows in actions.

    • Hiding all comments from you moving forward. You arent worth my time.

  • Don't label me a troll trouble maker but you ghosted me after asking for a bunch of financial information and have not responded to follow up emails.

    • Pm me your name, when you sent me an email or communication and ill investigate on what happened.

  • Adrian - just shot you a DM

    • Ok ill have a look thanks.

      • Any luck? Happy to chat over the phone if its easier.

        • Sorry missed this. Sent you a pm. Lets discuss tomorrow on the phone. Based on the info you have provided you are in a strong position to buy another property from a borrowing power and funds to complete position.

  • Hey Adrian

    Are you seeing any budge from CBA on their 4 and 5 year fixed rates?

    My info = lvr 60% 700k loan

    Current loan expires end of month, would they match UBank 5 year 2.24%?

    Thoughts / ideas?

    • No they just went up in the last 1-2 months. They arent as flexible as the discounts that you can get on 2 and 3 year fixed rates.

      Id be suprised if you could get in the 2.75-2.80% range after discount on a 5 year fix with cba at the moment. And thats with a 0.25-0.35% discount you get after a pricing request.

      But id be stopping for a second first and wondering why you want a 5 year fix? So many people get burnt on that product with huge break costs if you choose to pay out the loan or want to refinance.

      I have options close to that ubank offer as well with cashback if you need? ie boq 2.39% + 3k rebate 5 year fix p&I.

      or 2.14% 4 year fix p&I teachers mutual bank with no rebate.

      The 4 year fix on cba is much more competitive then the 5 year fix on cba.

      let me know if you need any help.

  • +1

    As a FHB, Adrian has been surprisingly excellent (for someone I found on OzBargain).

    He’s extremely prompt and super efficient. He was able to provide us with a handful of scenarios to help us reduce LMI where practical whilst helping us stretch our cash for moving in.

    We're based in Melbourne and doing everything online and over the phone has been a great experience so far.

    Adrian managed to get us some exceptional pricing for our unique circumstances: self employed and partner recently started a new job).

    We couldn't recommend Adrian enough! If you're in a similar position or looking for someone who has extensive mortgage and property knowledge, Adrian is your man!

    • Thanks Jamie for the kind words! Lets get everything done right next week and set ourselves up for a successful settlement.

      Have a wine/beer and short celebration!

      Youve done what many fhb find it hard not only getting approved by a lender but winning in an auction environment!