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Home Loan Promotional Rates: Owner Occupied Principle & Interest 3.99% (CR 4.40%), Investment P&I 4.29% (CR 4.70%) @ Hume Bank

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Home Loan Promotional Rates: Owner Occupied Principle & Interest 3.99% (CR 4.40%), Investment P&I 4.29% (CR 4.70%) @ Hume Bank
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AssociatedLDuol Loans @ Duol Loans on 23/01/2023 - 15:14 humebank.com.au (659 clicks)
Last edited 25/01/2023 - 10:20 by 2 other users

Hello Bargain hunters;

Happy new year.

Hume Bank is offering the below

Owner occupied 3.99% Principle and interest (comparison rate – 4.40%)
Investment @ 4.29% Principle and interest (comparison rate – 4.70%)

Hume's website mentioned there are no application fees, but forgot to mention there is a once-off 150 settlement fee.
Hume bank has confirmed they have no intention to extend their promotions beyond 31st Jan 2023. Hume Bank needs to receive applications by 11.59 pm on 31.1.23 to qualify for the discounted rates.

On the 26th to 29th of Jan 2023, I'll be working to get applications through to help as many people save interest during these time.
On the 30th and 31st of Jan 2023, I will be working throughout the night to try and get as many eligible applications into Hume Bank's system before the deadline.

Unfortunately, this bank requires 3 months' bank statements of everything. I.E credit cards and bank accounts. Which have caused applications to be knocked back in the past or delayed. It's best if I have a look at the 3-month statements and talk to you first to best position the application, increasing the chances of the application going through.

Typical documents Hume will require (and I will require to complete my assessment prior to lodging)

  • 2 most recent payslips
  • 3 months' bank account statement of everything - Credit cards, Bank accounts, Zip Pay, Home loan statements etc (I do provide access to cashdeck to help you send this to me)
  • Driver License at least - Hume bank requires 2 forms of IDs (I tend to ask for Passport but can accept others)

Product summary link -

Owner Occupied
https://docs.google.com/document/d/1qdn4QxW3xMd0Xgr2GGJztZ5v…
Investment
https://docs.google.com/document/d/1yWqKeRm3I_UZUzUFadjt9QTo…

In addition to the above, I am offering up to $2,000 broker's cash back. (Minimum loan size $250,000.)

Please read the broker’s cashback terms and conditions

For a free no-obligation discussion, please give me a call/email below. I'll be available
Vutha Thach
M: 0434192151
E: [email protected]
W - www.duol.com.au
Credit Representative Number 498979 is authorised under Australian Credit Licence Number 389087

Financial Cashback Home Loan Refinance

Related Stores

Hume Bank
Hume Bank
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closed Comments

  • furakoph on 23/01/2023 - 16:12
    +1

    How is this possible? Seems like borderline scam rate that will shoot up after you sign up.

    • Yabadabadoo on 23/01/2023 - 16:23

      Agree, they are lower than savings account rates. Comparison rate also quite a bit higher so must have big fees e.g to leave them when they put the rate up 2% LOL

      • El-Rhi on 23/01/2023 - 16:47

        It’s a 50bps discount for 2 years so of course the comparison rate will be higher. Nothing to do with fees.

      • AssociatedDuol Loans @ Duol Loans on 23/01/2023 - 19:15

        I've looked at the past rate increases with Hume since May 2022 and they have only increased it as per RBA increases and in some cases, only passed on .15% rate increased instead of .25%.

        Comparison rate is high because their undiscounted rates is 4.49% for owner occupied and 4.79% for investment. Majority of banks are providing at least these rates.

        I looked at my system and Hume's undiscounted rates are still lower then 90% of banks in my panel.

        • Extreme on 25/01/2023 - 11:07

          With you looking at past rates, are you comparing past rates for new or existing customers?

          You & I both know they aren’t the same, so full transparency is beneficial.

          • AssociatedDuol Loans @ Duol Loans on 25/01/2023 - 11:18

            @Extreme: Hi Extreme,

            I was looking at the history of when Hume bank applied RBA rate increases with their home loan products. Whether they hike it up more than RBA or follow RBA's increase as a response to people's comments regarding this. I've also applied my past experience with Hume as I have done loans with them in the past for clients.

            I'm fully transparency. Brokers have to be after all the regulations in place. Yes, most of these new offers are for new HUME bank customers only; unfortunately.

      • AssociatedDuol Loans @ Duol Loans on 23/01/2023 - 21:18
        +1

        The cost to leave or their discharge fee is only $350. Major banks are the same.

        • tunzafun001 on 23/01/2023 - 21:52

          Exit fees are a illegal..but a discharge fees are free game. Always makes me laugh.

          • AssociatedDuol Loans @ Duol Loans on 23/01/2023 - 22:22

            @tunzafun001: It's because the bank has to pay a third-party legal provider most of the time to handle the transfer of title to another bank.

            • tunzafun001 on 24/01/2023 - 00:04

              @Duol Loans: Yeah, but those cost don't matter, For example, for valuations, settlements etc. These are costs often not charged ( as they make plenty out of you anyway) and those costs get absorbed.
              Why bother putting in a ruling to ban exit fees, only to see them appear in another name. Answer is.. because they can.

    • AssociatedDuol Loans @ Duol Loans on 23/01/2023 - 17:34

      The rate is not a scam. Hume bank is a small bank so they can afford to offer these rates. They have always been one of the bank that offer low rates. However their assessment require more documents than others to offer those rates.

  • enayet on 23/01/2023 - 16:46

    It appears the rate is a discounted rate for the initial 2 years. The actual rate for >60% LVR is 4.83% (comparison rate same).

    • AssociatedDuol Loans @ Duol Loans on 23/01/2023 - 19:17

      Hume Bank's actual rate is 4.49%, without the above discount.

  • Almost Banned on 23/01/2023 - 17:05
    +1

    PrinciPAL

    • luke700 on 23/01/2023 - 17:07

      colourful feedback for the debt peddler!

  • paul11 on 23/01/2023 - 17:09

    Do you do pre-approvals?

    • AssociatedDuol Loans @ Duol Loans on 23/01/2023 - 19:26

      Yes I do. The bank will fully assessed it.

  • Gazza-75 on 23/01/2023 - 17:37
    +1

    Hi OP, does this offer include an offset?

    • XXRydeR on 23/01/2023 - 18:45
      +1

      I'd like to know also.

    • AssociatedDuol Loans @ Duol Loans on 23/01/2023 - 19:09
      +2

      Unfortunately, It doesn't have an offset account. It's a basic, no-thrill loan. However, I am testing/confirming with the banks whether the loan account can accept direct debits. Most Homeloan can accept direct credit such as your salary. Essentially; using the loan similar to an offset. But most likely cannot do bpay out of the loan or take your redraw from an ATM but you will have a Hume transaction account that you can transfer funds to do this.

      • Gazza-75 on 23/01/2023 - 20:02
        +1

        Thanks, will wait for your confirmation.

  • Makaveli99 on 23/01/2023 - 20:38
    +1

    An investor interest only option with good rate be nice.

    • AssociatedDuol Loans @ Duol Loans on 24/01/2023 - 08:46
      +1

      4.99% is the best interest only option i have in my system : ) . Small banks don't like giving out good interest only option due to government regulations.

      • Makaveli99 on 24/01/2023 - 19:15

        Ok cheers. With cashback??

  • ph81 on 23/01/2023 - 23:51

    With rates like this why wouldn't you sign up? It seems as though if you don't change banks every 1-2yrs they'll bleed you dry when there's other better deals going around?

    • AssociatedDuol Loans @ Duol Loans on 24/01/2023 - 08:44
      +1

      I agreed; hence why I review clients' loan after every year unless they are on fix.

  • amisfit on 24/01/2023 - 08:22

    How long do we need to stay to earn the broker cashback?

    • AssociatedDuol Loans @ Duol Loans on 24/01/2023 - 08:43

      24 months

  • Stahh on 25/01/2023 - 07:21
    +1

    so apart from the $150 signup fee and your banks $350 fee is there any other charges?

    Will the bank wave any fees if high loan over 1mil?

    • AssociatedDuol Loans @ Duol Loans on 25/01/2023 - 08:28

      Hi,

      There's only the bank's once off fee of $150.

      The bank's $350 fee is their discharge fee for processing the transfer of mortgage/title to another bank or new owner.

      If the loan is over 1 mill. I'm confident I can make something happen.

  • shap08 on 25/01/2023 - 21:56

    Seems they are busy with this promotion, can't call them.

    • AssociatedDuol Loans @ Duol Loans on 26/01/2023 - 02:09

      You are not the only one that has told me this. This is a small bank with strict requirements; should take longer to assess if whoever sends in the application did it with mimimum effort and especially so without checking the bank statements or inexperience to interpret the data on the payslips and did not present it to the bank's assessor in a language they want to see and understand.

      -I predicted this post alone has generated too many unexpected calls to them
      -I don't believe they have the manpower that has the same level of experience as me to qualify every call and present the application so it can be approved with one touch
      -the bank's sales team has to present your application to the assessor no different from me. I believe the bank's assessor has to be independent of the sales team to meet regulations.
      -I predict that once the bank reach their lending limit for this campaign, then they will withdraw the offer earlier

    • AssociatedDuol Loans @ Duol Loans on 26/01/2023 - 04:26

      hopefully, that gives a background info to your statement

  • samehada on 08/03/2023 - 22:31
    +1

    Just an update on this deal, they still haven't processed my application yet since 31/1. They have told me this deal is basically 0.5% off their current liteBlue Homeloan rate, so turn out not a bad deal.

    • shap08 on 20/03/2023 - 09:07

      Same as you, still waiting however will be worth it once the 0.5% discount kicks in.

  • AssociatedDuol Loans @ Duol Loans on 15/03/2023 - 10:03

    Hi,

    I'm sorry to hear. The bank did receive a lot of applications. I have a great relationship with them but unfortunately, I would not be able to assist if the loan doesn't have my name attached to it. I have received quite a bit of calls/messages regarding this.

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