I hope someone is out looking for a home loan. This is variable rate but too sweet to pass. $300,000 house 80% loan ($240,000)will come as cheap as 300 per week.
When you think cheapest rents this loan stands out very well.
I was told this promotion will be ending 22 April. Good luck…
Referrer and referee get $1000 cash after referee settles loan.
Fees?
I can not see on going fee but you read it yourself. Other up-front fees or charges may be payable.
4.99%pa, comparison rate of 5.01%pa
$0 application fee¹
Unlimited free redraws and online transactions
Free Bpay, direct credit and debit transactions
Up to 5 free splits
5 free ATM transactions per month with an agreed list of financial institutions on variable loans
Our fees
$0 application fee
$0 legal fee
$75 settlement fee
$0 exit fees if loan paid out early
$300 discharge fee
$220 valuation fee (may be higher in some cases)
Govt fees and charges - at cost
Title insurance - at cost
Title search, bank cheques & agent fee - at cost
Discharge outlays - at cost
didn't think they where allowed to do discharge fees anymore - or was it exit fees… and whats the difference between the two, anyone know? and what's the go with the valuation fee… if they are 80% and they value your house so that you cant get the loan you still have to pay 220? WTF?
@rep, do you have any loans for 90% LVR?
Just got a home loan last week at 4.99% from Commonwealth
If you don't mind me asking Wampus, what was your LVR on that loan?
Mine was 95% for CBA, I got the same loan just before Easter
hi Wampus, hope you dont mind if I ask, is your loan fixed?
is 4.99% comparison rate? i have a feeling the comparison rate will be around 6%…
my bet is it's an intro rate and will jump after 2 years
edit: cba lists 4.99% for 2 years, with 6.09% comparison rate
Well, they are pretty clever with playing figures, aren't they?
yeah, just have to compare comparison rates.
All the banks where doing 4.99% fixed a few weeks ago CBA, Westpac
Your calculator is broken…
the rate is 5.01 not 5.1 might want to fix the title?
there is $220 valuation fee + $75 settlement fee then no fees after that
i've been with loans.com.au since they had the 5year "move with rba" deal which has been great!
I am sorry, Yes it should be 5.01.
Thank you.
When it comes to interest rate every bit counts.
Thats true. Dont think they will come with such offer again ever.
can't buy much with $300,000
country side probably
300k will get you a nice 3 bedder in a decent Suburb around Newcastle (Shortland, Wallsend, Waratah, Elemore Vale and some parts of Kotara)
300k in Sydney wont get you much though.
Great!
I never understood these interst rate things. How much can I get loan if i want to make a repayment $2000 a month for 10-15 years @current interest rate.
About $250,000 - use one of the many mortgage calculators online.
in theory the best option is if you can afford $2000 per month, you could take the loan for 25 years and then when you have enough capital buy an investment property, you could never predict to make payments of $2000 for 15 years unless you lock it into a fixed rate as the market fluctuates, also fortnightly payments workout cheaper.
also the ANZ breakfree rate is the same as this
I have been with loans.com.au for more than six months and have had never had never had a problem.
any reps here? does this come with a free offse account of not?
I guess thats an important feature as u tend to save a lot if u have one & some extra cash..
"Flexible 100% redraw offset facility" so does it mean free redraw and 100% offset account linked?
yep i have "Two" accounts, one is an offset, the other is the loan account but i can move money in/out (i.e. free redraw) as well
The free visa debit card is connected only to the offset account.
So i just keep most of my money on the redraw for safety and move it to the offset to withdraw if need be.
Can b-pay from any account
OK so this is a variable rate and not locked in, which means after you get the loan the rates could rise any time?
Purchase only. no refinance.
Could an exiting loans.com.au share with us your experience in relation to movements in variable rate, as compared to central bank movements and the big 4 rate movements? Are they relatively in line with competitors? Were there any out of cycle movements?
I found it difficult to judge loans.com.au as, unlike the big 4 banks, they do not have a reference rate such as the 'standard variable rate' that is published on their website. I can only see the rate offerred to new applications, not even knowing how these new rates compare to those for existing customers.
I cant comment on this as my deal is 5 years of moving with rba rises/falls, my rate has fallen the day after rba announcements for the last year and a half
Is the 'offset redraw' account really an offset account? I wonder why they don't call it the offset account?
You get two accounts, one is offset the other redraw
So just to clarify, you get 3 bsb account numbers? One for the home loan, one being a savings account that is 100% offset to the home loan account, and one is the redraw account? If this is correct (ie. 3 bsb account numbers) then how different is the redraw account compared to the home loan account? Maybe I got it wrong here.
2 account numbers
the home loan and redraw is the same, you put extra money onto your home loan and take it out for free = redraw
i've always wondered about these loan companies… any good?