Hi all,
Looking to refinance my home loan to a fixed one for at least 3-years that allows for more than one offset account - anyone know of a better deal than Bank Australia's 2.05%? My current owing amount is ~$300,000 with a LVR of just under 60%.
Fixed Home Loan with Multiple Offset Accounts
ExPrinceHairy on 17/11/2021 - 08:07
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I ditched my broker as they wanted me to commit to at least 2 years on a variable loan.
Find a another broker 💁♂️
Hey, mortgage broker here.
Multiple offset lenders off the top of my head (and number if I know it) are;
Bankwest - 9
Macquarie - 10
Suncorp - 5
St George - 99
ME Bank - 8
CBA - unsure
AMP - unsureThere's almost certainly more.
p.s. if you're fixing, definitely look into 'rate lock' in this current volatile rate market.
p.p.s. you can't typically offset a fixed loan, unless Bank Australia, ANZ (1 year fixed) or Adelaide Bank. Again, there's probably a couple more. DYOR.
How can St George offer 99 and WBC just says nope?
Different systems, different value propositions.
Maybe other factors.
WBC own St George, was thinking they use the same system
@knobbs: Yep, but the actual product systems (I believe) are still quite separate.
Ultimately WBC owns SGB, but in terms of systems they are still largely separate businesses.
Different bank, didferent systems.
I've never heard of a fixed loan with offset account. If there is, let me know
We have a fixed loan with offset. Through the mortgage aggregator Connective Select from our mortgage broker. It’s using Adelaide Bank.
My first mortgage was with Adelaide bank, fixed loan with an 100% offset account. Credit Union Australia (I think they have changed name?) used to offer these too.
I got it with CBA
do you have a split loan? if I fix my loan 100% I lose access to redraw/offset
I think so
I have fixed rate with offset. St George
Is this with the Partial Interest Offset account?
Was a few years ago so I don’t remember the name. Maybe complete freedom account rings a bell
Community first credit union have a 3yr fixed rate at 1.89%. I believe you can have one offset attached.
Do you have a link for this? Its not on their website
It's been taken down now. It was meant to be a promotion through to the end of Nov but apprantly it's been finished early which sucks.
I’m with ANZ fixed (for 1 year) with full offset. They provide full offset for 1 year fix rate only. Don’t think many banks provide full offset with fixed loan. I’ve heard of Adelaide, Bendigo and then BOM/St George with partial.
Haven’t seen any products from Macquarie, BankWest in this bucket as mentioned above. Quite keen to know as my fixed rate ends in Feb.
you do have tictoc and may be some other similar lenders but nothing from bigger banks.
why not just speak to a broker?