86 400 has recently launched an 85% LVR, no LMI offering, extended their extended their cashback offer, and further reduced their <80% LVR rates!
Unlike with most lenders, 86 400's $2,000 own home loan cashback offer is available for purchases as well as refinances - even for their 85% LVR, no LMI offering!
They are also one of the few lenders that price based on security property, rather than purpose, thereby allowing customers to access owner-occupied rates on investment purpose lending, when secured by their owner-occupied property!
86 400 is offering a 1 business day SLA for initial application processing and has 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 is owned by nab, customers will benefit from the peace of mind of knowing that they are backed by one of the 4 Australian majors.
86 400 - 85% LVR, no LMI offer details:
Owner Occupied P&I rates:
- 1 Year Fixed Own home loan = 2.04% (2.96% CPR)
- 2 Year Fixed Own home loan = 2.09% (2.91% CPR)
- 3 Year Fixed Own home loan = 2.19% (2.89% CPR)
- Variable Own home loan (with 100% offset) = 2.74% (3.02% CPR)
- Neat home loan variable (no offset, no cashback) = 2.54% (2.55% CPR)
Offer Requirements:
- Available for owner-occupied, principal and interest products only
- Debt-to-Income (DTI) must be 6x or below
86 400 - Updated most competitive rates for <80% LVR lending:
Owner Occupied P&I (& Investment P&I, when secured by your home+):
- 1 Year Fixed Own home loan = 1.84% (2.54% CPR)
- 2 Year Fixed Own home loan = 1.89% (2.51% CPR)
3 Year Fixed Own home loan = 1.85% (2.47% CPR)
Variable Own home loan (with 100% offset):
<60% LVR = 2.29% pa (2.58% CPR)
<70% LVR = 2.44% pa (2.73% CPR)
<80% LVR = 2.44% pa (2.73% CPR)Neat home loan variable (no offset, no cashback):
<60% LVR = 2.09% pa (2.10% CPR)
<70% LVR = 2.29% pa (2.30% CPR)
<80% LVR = 2.34% pa (2.35% CPR)
+Since 86 400 prices based on security, rather than purpose, all of the above owner-occupied rates (starting from 1.84% pa - 1.85% pa fixed) are available for investment purpose lending (refinance or purchase), when this lending is secured by an owner-occupied property!
When structured correctly, customers can generally still retain all tax deductibility/negative gearing on this investment purpose lending, getting the best of both worlds - pricing based on sharp owner-occupied rates + full tax deductions on the investment purpose interest!
Investment P&I:
- 1 Year Fixed Own home loan = 2.14% (2.83% CPR)
- 2 Year Fixed Own home loan = 2.19% (2.81% CPR)
3 Year Fixed Own home loan = 2.14% (2.76% 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, no cashback):
<60% LVR = 2.39% pa (2.40% CPR)
<70% LVR = 2.49% pa (2.50% CPR)
<80% LVR = 2.59% pa (2.60% CPR)
Investment IO:
- 1 Year Fixed Own home loan = 2.39% (2.85% CPR)
- 2 Year Fixed Own home loan = 2.39% (2.83% CPR)
3 Year Fixed Own home loan = 2.39% (2.80% CPR)
Variable Own home loan (with 100% offset):
<60% LVR = 2.79% pa (2.91% CPR)
<70% LVR = 2.89% pa (3.01% CPR)
<80% LVR = 2.99% pa (3.11% CPR)Neat home loan variable (no offset, no cashback):
<60% LVR = 2.59% pa (2.48% CPR)
<70% LVR = 2.69% pa (2.58% CPR)
<80% LVR = 2.79% pa (2.68% 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
86 400 $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 September 2021
- Must settle by 30 November 2021
- Minimum loan amount of $250,000
- Maximum 1 cashback per primary borrower
Whilst the above offers from 86 400 are very compelling, they will not suit everyone and not everyone will qualify for them - please therefore contact us to confirm the best deals you could qualify for from our panel of over 50 lenders before applying
Other related special offers:
85% LVR, no LMI lending is available with sharp pricing through St George for First Home Buyers, or through Citibank more generally.
Up to $4k lender cashback on <80% LVR refinances or purchases through Citibank, with very sharp discretionary pricing.
Up to 90% LVR, no LMI lending with sharp pricing is available to Medical Professionals through a number of lenders (including all of the major banks) at sharp rates (up to 95% LVR through ANZ for existing lending customers).
Up to 90% LVR, no LMI lending with sharp pricing is available to certain Accountanting Professionals, Legal Professionals, Sports/Entertainment Professionals, and Mining/Energy/Resources Professionals through some of the major banks.
Up to 90% LVR, no LMI lending is available in general through Bluestone, but at higher interest rates.
Up to $1,000 Loan Base Broker Cashback Offer Terms:
- Available on refinance or purchase loan applications submitted through Loan Base until 31 August 2021
- New lending must include a component that will be fixed for at least 2 years
- Not available for applications refinancing existing Loan Base lending that is still within the current lender's clawback period (generally 2 years)
- $500 cashback available for settled utilised lending (net of offset and redraw) of $500k +
- $1,000 cashback available for settled utilised lending (net of offset and redraw) of $1m +
- Subject to meeting the above criteria, just mention this Loan Base Ozbargain cashback offer to your broker during your initial conversation (prior to your proposal presentation)
HOW TO APPLY
You can apply directly through 86 400, or 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 protected], Calendar
- Eric Cheng: [email protected], Calendar
- Andrew Loucas: [email protected], Calendar
Loan Base Pty Ltd (ABN 95 162 141 915) · Australian Credit Licence Number 508 308
Head Office: Level 1, 1-5 Link Road, Zetland, NSW, 2017. Phone: 1300 512 377.
If you're a nurse, doctor, there's another credit union with better rates and 10% deposit is eligible for no LMI.