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Go Edge Variable Home Loan for Owner Occupiers, Negotiated Rate from 5.69% (CR 5.72%), 0.3% Broker Cashback @ Lending Workshop

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Go Edge Variable Home Loan for Owner Occupiers, Negotiated Rate from 5.69% (CR 5.72%), 0.3% Broker Cashback @ Lending Workshop
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AssociatedLendingWorkshop on 13/10/2023 - 10:53 lendingworkshop.com.au (190 clicks)
Last edited 13/10/2023 - 13:21 by 1 other user

Hello Ozbargainers,

Firstly, thank you for your support so far.

Now who is "Go Edge"? It's Advantedge (funded by NAB) and is merger of 3 different brands PlanLend, ChoiceLend and FastLend into one.

This is one of the most selling lenders on my panel at the moment. Especially for property purchases or larger loans with low LVRs that don't need offset. The lender never offered cashbacks but has always been competitive on interest rates. Could be a good option for people that are looking to set and forget.

Fees:- $395 upfront and $295 to exit. No ongoing fees.

There is no offset option. So only consider if you can manage with redraw.

The advertised rate is 5.79%(CR 5.82%) for OO Home Loans upto 70% LVR but I have been able to negotiate 5.69% for my clients depending on loan amount and LVR.

Combined with Broker Cashback of 0.3% **, the effective rate will be from **5.54% for the first 2 years, that is quite competitive.

Refer to this link for broker cashback terms and conditions.

You can also combine the broker cashback with other offers. I have access to 30+ banks, just few hot offers mentioned below. The easiest way to reach out is call me on the contact details provided below. You can also book an obligation-free appointment in my calendar

  • ANZ Bank 2K Cashback. The best rate achieved is 5.74% for OO.
  • BoM/St George 2K cashback. Best rate achieved is 5.69%(for OO) couple of weeks ago but getting harder to negotiate now.
  • Westpac. Best rate achieved is 5.74%(for OO).
  • uBank for Inv Prop Loans. Rates Starting 5.99%. Can negotiate fee waivers.
  • ING competitive on rates. Have been able to negotiate fee waivers other than advertised rates.

General Advice Warning-. The information contained on this web page is general in nature and does not take into account your personal situation. Please contact me for a tailored solution, comparing 30+ banks/lenders.

Regards,
Roopali
Director | Mortgage Broker
Lending Workshop Pty Ltd
Credit Representative Number 544854| Australian Credit License Number 391237| ABN 98 663 429 598|Certified FBAA Member M-353524.

Email [email protected]
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closed Comments

  • rdhupar on 13/10/2023 - 11:04
    +3

    5.69% @ 70%LVR with zero fees and offset for OO P&I. Look at Homestar Finance's Star Gold product. Been with them for a long time and no out of market interest rate changes. Always competitive and despite looking at options in the market, its never been worth my while switching. Obviously no broker cashbacks but if thats your draw card then this will not be of interest.
    https://homestarfinance.com.au/home-loans/home-loan-interest…

    • AssociatedLendingWorkshop @ Lending Workshop on 13/10/2023 - 12:59
      +1

      @rdhupar, thanks for another option. I have heard good reviews about them. Not a bad choice if they lend to you. Their risk appetite is small so might not work for everyone.

      Also, as you mentioned $ savings by broker cashback and the service from myself might be worth it for some.

    • mallard19 on 13/10/2023 - 14:29
      +1

      I went with Bank of China and I am still on 5.43% variable today (70% LVR). They advertise 5.78% now, but usually give 0.1% discount for 70% LVR, so 5.68% should be achievable. Additionally, $4k cashback on refinance. The only costs were: legal paperwork and transfer of funds (around $560 total in my case) plus usual title amendments. Full offset as well. Annual fee is waived. There are some downsides, for example, $1000 daily limit for OSKO transfers outside.

  • samfisher5986 on 13/10/2023 - 11:26

    The lack of offset makes it not the best deal unless you want the cashback.

    • AssociatedLendingWorkshop @ Lending Workshop on 13/10/2023 - 11:29

      hi @samfisher5986, fair call. Some people prefer offset. I can negotiate a bargain with 35+ lenders on my panel and still offer broker cashback of 0.3% if this deal doesn't suit you.

  • frostybite on 13/10/2023 - 12:24

    5.74% for ANZ?! Is that a large loan size? I just refinanced with them and 6.1% is the best they can do?

    • MajorGaz on 13/10/2023 - 12:35

      6.1%? Ouch. I'm currently refinancing and going with ING at 5.74% with an offset

    • AssociatedLendingWorkshop @ Lending Workshop on 13/10/2023 - 12:54

      Yes, it was a large loan. But 6.1% is still high. Assuming you are not above 80% LVR.

      So sorry to say this but you will have to handover your badge. :)

      Jokes apart, call your broker/banker and ask them to try again. I am sure you will get something better. If not, you know who to call in 3 months time.

      • frostybite on 13/10/2023 - 13:05

        Their advertised rate is 6.19%. No mine is way below 80% LVR

        • AssociatedLendingWorkshop @ Lending Workshop on 13/10/2023 - 13:46
          +1

          I know that's for simplicity plus. Feel free to call me on details provided and I can guide you. It's just that that I need to understand the situation in detail before I can recommend you further steps to take. I know I am not making money in this case but I can imagine your situation.

  • gs1368 on 13/10/2023 - 20:41

    Do you still need financials if LVR is less than 50%? No extra cash required.

    • AssociatedLendingWorkshop @ Lending Workshop on 14/10/2023 - 13:40

      hi @gs1368, with this lender, financials will be required no matter what the LVR. But we can look at other options to to see if there is cash saving in moving. Feel free to reach out if you are interested and I will do my best to help you save.

  • CrazyYuva on 16/10/2023 - 10:42

    https://www.qantasmoney.com/home-loans?utm_medium=Paid+Searc…

    5.78% plus 100,000 Qantas Points every year. Not bad at all!

    • samfisher5986 on 16/10/2023 - 12:33

      Not too bad, for a $600,000 loan you are trading $540 in higher costs per year for what must be something like $1800 in points?

  • brodof on 23/11/2023 - 16:12

    What are the new rates since the increase? Thanks

    • AssociatedLendingWorkshop @ Lending Workshop on 24/11/2023 - 23:57
      +1

      Hi @brodof, Go Edge will increase the rates from 4-12-23. So above rates are still valid. But they have announced that they will pass the full rate increase of .25%. So effective 4th Dec. The rates will be starting 6.04%(CR 6.06%) without the broker cashback and any negotiations. Depending on what you are looking to do. Me Bank might work out to be better. Please feel free to reach out on the contact details provided and I will try my best to find the best solution.

      • IndianWarrior on 29/11/2023 - 10:29

        Hi @LendingWorkshop, what is the current rate that we could get? Looking to refinance from my existing Bank.

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