1.85% Variable Rate Home Loan @ Well Home Loans

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PDialADeal on 14/11/2021 - 19:39 wellhomeloans.com.au (817 clicks)
Last edited 15/11/2021 - 19:29 by 1 other user

Seems to be competitive including their fix term rates.

This of for an owner occupied loan.

I didn't go with them however I found these guys when shopping around. I stuck with Macquarie as I have other products with them. They matched their advertised rate after a 5 minute call. So remember to check your bank broker every 6 months.

Application fee: $250
Well settlement fee: $0 (normally $250)
Well annual fee: $0 (unless you want an offset account)
Well discharge fee: $300 (only if you payout your loan of course)
Fees charged by Third Parties:
Valuation fee:Up to $300 free (Well Home Loans will pay up to $300 per loan, any excess valuation fees are payable by the borrower(s))
Third party settlement fee: from $150 (Funder processing fee)
Solicitors document fee: from $385 (depending on your loan structure)
Identity fee: from $49 (per application at Australia Post or come-to-you ZipID)
Government fees: unascertainable (Refinancing approximately $260-$450 depending on your state; Purchasing varies by property value with stamp duty)
PEXA fees: from $50 (depending on your home loan scenario)

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Well Home Loans

• 

  Muscles on 14/11/2021 - 19:41

  +2

  *loan

  • 

    DialADeal on 14/11/2021 - 19:44

    Thanks

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  DialADeal on 14/11/2021 - 19:46

  Now I'm getting targeted…

  1.79% 1 year fixed @ Hume Bank

  https://www.humebank.com.au/personal/home-loans/myblue-fixed…

  • 

    nico8amy on 14/11/2021 - 20:25

    +1

    No cashback and only 1 yr fixed tho…I would go with 3k cash back and around 2% comparison VR

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  yoquierotaco on 14/11/2021 - 21:30

  +1

  @DialADeal you call Macquarie and they matched this?

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  arcticjuggernaut on 14/11/2021 - 21:34

  I was considering reduce or tictoc for the low variable rate. Reduce seem to have higher fees when signing up for a ~.03% rate difference. Can anyone vouch for any of these?

  • 

    Chickenleg on 14/11/2021 - 22:14

    Just settled a few days ago with Tic Toc. Application process was fairly painless but time will tell with the rest I guess.

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  [Deactivated] on 14/11/2021 - 21:43

  Bait and switch tactic

  • 

    drillvoice on 14/11/2021 - 21:47

    But the website says "no bait and switch"!

    • 

      [Deactivated] on 16/11/2021 - 22:37

      It says "We don’t guarantee that existing customers and new customers get the same rates."

  • 

    juki on 14/11/2021 - 22:04

    +3

    how? can you explain for us idiots

    • 

      [Deactivated] on 16/11/2021 - 22:42

      +2

      They lure you in with cheap rates, then they jack it up few months later, just for you. While new customers continue to get the lower rates. That's bait and switch. And you can't do anything about it. You're at their mercy.

      Only provider that guarantees no bait and switch with written policy is Athena.

      • 

        juki on 16/11/2021 - 23:52

        thanks, my current bank hasnt but its good to know

• 

  Bob81 on 14/11/2021 - 23:49

  Any offset?

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  freekay on 14/11/2021 - 23:58

  I thought legislation was put in place so that new loans can't charge exit fees any more… Or was I just imagining that???

  • 

    miwahni on 16/11/2021 - 01:08

    +1

    There's no exit fee listed above. Exit fees were charged if you discharged your loan within a certain time frame after settlement, and yes they were banned. A discharge fee is different again - it's the cost of preparing the discharge of mortgage and arranging for settlement of the refinance. Still (IMO) doesn't represent the true cost to the bank which would be a lot lower I reckon.

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  oshe on 15/11/2021 - 17:25

  i asked if i can get my existing loan lowered, according to the website it’s still 2.17%, they emailed me saying 2.17% is investment only, and 1.87% is owner occupied, I am owner occupied….. see what they say

  • 

    oshe on 16/11/2021 - 18:20

    well home loans contacted adelaide bank and got them to lower my rate to 1.85% variable, saving $88 a month cassssshhhh, they told me no guarantees but well home loans did very well