Home Loan Rates - Fixed

Hey guys,

I'm currently with Westpac with a LVR ~72%. They're offering 1.85% for 3 years and no annual fees - would that be a good deal?

Comments

  • It’s competitive. Not sure anyone here would be able to tell you how suitable it is for you without knowing more about your circumstances.

  • +1

    Welcome to OzFinancialAdvice

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    The answer will depend if you have car insurance.

  • if interest rates go up yes
    if they stay the same yes
    if they go down maybe not
    if you want to pay the loan back early or refinance no

  • +1

    Speak to a mortgage broker?

  • +1

    When you say they are offering, do you mean they have offered to you? Because the new advertised rates were not for their existing customers. I am with Westpac. I would at the drop of a hat take 3 year fixed at 1.85% without any package fees. But, I would suggest that you check with Westpac first.

    • No annual fees might be without the package which would mean no free offset…

      • offset generally doesn't apply to a fixed rate homeloan.
        There are only 3 institutions i know of that are doing this product - Bendigo, TMB and Adelaide Bank.

        • ANZ also offer it, though only on the 1 year fixed rate product.

    • +1

      Yes - they offered it to me after some negotiation to and from - took their offer at 1.85% 3 years with no annual fees.

  • would that be a good deal?

    Compared to what?

  • +1

    Don't get a home loan. Put it all on black. Doubling your investment in 5 minutes is a better return.

    • Results not guaranteed
    • +1

      I have spent $5000 putting $50 on number 13 each spin 100 times.

      It never came up once. Odds of this are 6.94 %.

      Putting it on black would have been a better bet.

  • -1

    Fixed

    Was it ever broken?

    • Yes, they were being over-charged

  • +1

    Repeat the question in (say) 2 1/2 years for a definitive answer

  • Thanks guys :) Would be good if there's a thread where people share their current offer so we know if it's a bargain or not.

  • Is it a good deal? Yes.

    Is it the best deal? IDK

  • Kidaway, it is a good deal.

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