Browse Forums Home Finance home loan advice centre, home loan, 100% offset 41Nov 24, 2008 2:04 pm OK. With the Citibank card you earn 1 point for every $1 you spend as well and your points never expire.
But let's not stray from the home loan topic, the point of the example above was that if you are only getting a package for the sake of a discounted rate and an offset account, you may be better off (save years off your term) with a basic home loan as it has a lower rate than the professional package home loan and no regular account fees. Instead of paying the package fees, pay the package fee equivalent into your home loan to pay off your home loan quicker. When you have extra money you would like to park against your home loan balance, make an extra repayment (it will lower your interest just like offset account); when you need the money redraw it (it's free). Re: Newbie with Interest Rate Question 42Nov 24, 2008 4:27 pm I just locked in a big chunk of my money into a 2yr term dep at 4.7%. All the banks this morning dropped their rates and they'll probably drop again next week when the RBA announces another reduction. If xmas sales are bad, then you could see another reduction either in Jan or in Feb when they meet again. Re: Newbie with Interest Rate Question 43Nov 24, 2008 11:05 pm d@n I just locked in a big chunk of my money into a 2yr term dep at 4.7%. All the banks this morning dropped their rates and they'll probably drop again next week when the RBA announces another reduction. If xmas sales are bad, then you could see another reduction either in Jan or in Feb when they meet again. 2 year term deposit Are you a little worried about the economy? Re: home loan advice, first home advice 47Nov 26, 2008 1:20 pm d@n it's only .3 less than what i was getting. None of the other big 3 could get close to 4.7 and were a little surprised by the difference. NAB's UBank is doing 5.11% Term Deposits on >12 months: http://www.ubank.com.au/home/index.html First Home Savers Accounts, First Home Deposit 48Nov 26, 2008 3:31 pm Gee, you can get a higher return on your savings for a first home deposit. AMP Bank's First Home Savings Account is 8% (ok, it's for a limited time but even after the promo runs out the rate is 5.25%). Re: home loan advice, first home advice 49Nov 26, 2008 4:09 pm Djelibeybi NAB's UBank is doing 5.11% Term Deposits on >12 months: http://www.ubank.com.au/home/index.html Didn't know about them. The AMP first homer has too many rules and reg's. Re: home loan advice, first home advice 50Nov 27, 2008 2:44 am d@n The AMP first homer has too many rules and reg's. It's meant to be used by first home buyers who wish to save their deposit over 4 years with government contributions. I just gave it as an example for interest rates (it's quite high), you can't open one if you have owned a home anyway. Re: Newbie with Interest Rate Question 51Dec 02, 2008 12:24 pm while were on this topic, I locked in my rates for my PPOR at the start of this year, for 3 years at 7.75% and my IP (a month or two later) at 8.85% interest only (best rates going round at the time) with the Nab.
Earlier in the year, I asked the nab to go variable interest on my PPOR. They took 6 - 8 weeks to do the paperwork...afterwhich interest rates dropped below my fixed rates = 5.9K breakout fee. Within 10 days this then blew out (another rate cut) to 10K. I havent checked up on what it is now (after last weeks rate cut) and I definately wont bother to look if they drop again today/tomorrow. The knowledge that if a) I had acted 2 weeks sooner, and b) the NAB had done their paperwork a little quicker keeps me up at night, knowing how much savings i am missing out on. We can afford the repayments as they stand, but when I see the potential savings, it just irks me !! Anyone else out there in the same situation ?? Please tell me im not the only one ! Why are priates scary ? Because they yaargh.. Western sydney home loans, home loan tips 52Dec 02, 2008 1:07 pm Captain Morgan Earlier in the year, I asked the nab to go variable interest on my PPOR. They took 6 - 8 weeks to do the paperwork...afterwhich interest rates dropped below my fixed rates = 5.9K breakout fee. Within 10 days this then blew out (another rate cut) to 10K. I havent checked up on what it is now (after last weeks rate cut) and I definately wont bother to look if they drop again today/tomorrow. The knowledge that if a) I had acted 2 weeks sooner, and b) the NAB had done their paperwork a little quicker keeps me up at night, knowing how much savings i am missing out on. We can afford the repayments as they stand, but when I see the potential savings, it just irks me !! I have a customer in the same position. He asked his lender for break costs and being a big loan and him having made to wrong decision to fix at 8.55% for 5 years with ING Direct direct (excuse the pun), they quoted him $25,000. He then waited 2 more weeks and asked them again, this time it was $35,000 as ING's rates have plummeted quicker and more than other lenders. He is interested in refinancing and fixing at 5.49% for 2 years but the break cost is his big deterrent. I don't think he has any option but to stay put. home loan help 53Dec 06, 2008 8:37 pm hi thlo
my friend is getting married to a citizen of the Philippines and he is very keen to buy their first home in the next 2 months. His wife to be is not a permanent resident of Australia, I believe she is on a 457 visa where she is eligible to stay as long as her Australian employer needs her to work here. Do you think you can get them a home loan with about 5% deposit? Not to be confused with Harold Re: home loan help, 457 visa holder, temporary resident loan 54Dec 07, 2008 1:38 pm kumar hi thlo my friend is getting married to a citizen of the Philippines and he is very keen to buy their first home in the next 2 months. His wife to be is not a permanent resident of Australia, I believe she is on a 457 visa where she is eligible to stay as long as her Australian employer needs her to work here. Do you think you can get them a home loan with about 5% deposit? I think I can assist with that home loan. 5% deposit is not a problem. Several of our bank lenders have approved similar home loan applications. Just need to clarify whether your friend is an Australian citizen or only a permanent resident of Australia. That determines if his wife to be needs a federal government permit to be on the title. Regardless, we have had similar home loan applications approved by our banks, the title issue is sorted out by their conveyancing solicitor. If in NSW, they would also be eligible for the First home owners grant and First Home Plus for the stamp duty exemption (subject to approval by OSR), as only one applicant needs to be permanent resident of Australia. Re: Newbie with Interest Rate Question 55Dec 09, 2008 2:09 pm That's great news a couple of brokers told him he couldn't apply for a loan with her while she was on the 457 visa. Should i tell him to contact you here on this forum? What documents do they need? Not to be confused with Harold buying first home, sydney home loans, home loan centre 56Dec 09, 2008 3:50 pm hi kumar,
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