I’m currently with Tiimely on a 5.89% rate but eyeing up capricornian who offer 5.69%
Small print looks ok from what I can see. Any customers here?
Anyone with Capricornian Home Loans?
Ltoecutter69 on 07/01/2024 - 08:04
Comments
Not affiliated, spotted it via a Reddit comment and trying to find out more info. Little to no mention on whirlpool as well.
The 5.69% rate seems really good, I checked out the TMD and all it states is you must have a property to be used as security for the loan. Almost seems too good to be true for that rate, couldn’t find any info on the rate increments based on LVR too? So seems like a flat 5.69%.
Never heard of them, but 5.69% with $0 offset account is pretty attractive!
I'm not sure that's a big enough difference to switch just yet
Wouldn’t trust a cent with some no name mob
But they are lending you money?
What are the dangers of mortgaging your house with a non-bank / no name lender?
Do they just bump the rate to 6.1% in a few months?
Has anyone in this thread refinanced with them? What's the experience like?
Already up to 5.99
Dodged a bullet. Glad I didn’t jump to chase the rate. Sticking with tiimely
I applied and they told me they would still honour the 5.69% rate. But I then I haven't heard back from them for two weeks. Meanwhile I got approved at Unloan so I just cancelled the application
The variable rate is just that, variable - they have the right to change it the day after you've moved.
That was what I think as well. One of the reasons I just cancelled the application after getting approved at Unloan
Their standard variable is 6.99% which isn't competitive - I suspect they're trying to get a bunch of offset customers currently reassessing and may rug-pull that variable rate.
Also keep in mind they have valuation fees, there'll be PEXA fees ($60 for online I think), monthly fees, establishment fees, discharge fees when you exit:
https://www.capricornian.com.au/app/uploads/2022/04/Schedule…
https://www.capricornian.com.au/app/uploads/2023/04/Conditio…
Pfft, nice attempt