Curious as to how people choose their lender / broker21
Dec 09, 2011 1:38 pm
CBA for my investment property... They were by far the best. But it all depends on an individuals situation. Cant go wrong with a mortgage broker if you dont have the time to do the running around. Just make sure you check with other banks/credit unions because not all of them are covered by each broker.
Im going NAB for my build because of the discounted rate and subsidized payments from defence! Yay
Re: Curious as to how people choose their lender / broker22
Dec 09, 2011 3:54 pm
They should, greedy u no what's ME now has a variable rate of 6.74, I'm very happy with that.
IMO 6.74% is not that attractive and depending on loan amount and LVR you should be able to get a rate of 6.3% - 6.5% (now that most lenders have passed on the latest RBA reduction) especially since your paying $395pa package fee.
Don't know where your getting your info from but I never paid any package fee
http://mebankcampaign.com.au/homeloans/ ... bank_09_11
Re: Curious as to how people choose their lender / broker23
Dec 10, 2011 5:39 pm
We've gone with our current bank, well credit union, as we get a subsidy which is only available through our bank and one other. Even though we're on a land only loan now we don't want to bother switching in 18mths time when we start building so will stay with them as we still save way more than a slightly cheaper rate elsewhere.
Re: Curious as to how people choose their lender / broker24
Dec 15, 2011 8:23 am
Joined CBA because they were apparently the "fastest" to get loan approval, and I had only 2 weeks until settlement as it was an off-the-plan buy.
So 1 month later and various penalty fees I had a loan, that was on a "special" interest rate for 3 years.
I've moved to "MyRate", 0.25% lower interest rate (and not a special interest rate) and they have passed on all the rate cuts and they are 6.35% with no application fees / package fees / ongoing fees. They also charged 4K less for LMI than Commonwealth
If anyone wants to sign up with them PM me for my full name as referrers get a small bonus, if you want to of course
Re: Curious as to how people choose their lender / broker25
Jan 11, 2012 11:28 am
We are with Homeside as we have a parent guaranteeing some of the loan amount to avoid LMI, and they are with Homeside/NAB so easiest to go with the same lender.
We are getting a discounted rate as a referral, 0.2% off the usual rate, and considering the NAB rate is pretty good already, we are happy
We had heard some less than positive things about Homeside but we have had no worries at all, we have gone through a NAB-group broker so maybe that makes things easier, but turnaround has been quick and everything has been easy!
5.5m Terrace House - Lightsview (Northgate SA)
Moved in!! - 22 February 2013
Re: Curious as to how people choose their lender / broker26
Jan 29, 2012 4:47 pm
Stayed with our existing bank, CBA, because there was no reason to look elsewhere.
They provided very good service during the application and approval stages, they converted and extended our original loan from 1998 into a construction loan and then, when it reverted to a normal loan after handover, gave us a honeymoon rate for 3 years! Our loan fees are still waived, too.
Geoff - Decophile.
Re: Curious as to how people choose their lender / broker28
Jan 30, 2012 1:23 pm
I didn't know which way to vote. For my first house I went through a broker and had a terrible experience and decided never to use a broker again. When buying land for my new house I went direct to my current bank and got what I thought was a good deal. Then I got harassed by mortgage brokers wanting my business (7 figure debt) and ended up giving into one who came to my office. He got me a better deal than I could directly with the same bank, gave me great ideas on refinancing properties etc. and I am still with the same bank on a great deal.
View our blog at: http://room4acubby.blogspot.com/
Re: Curious as to how people choose their lender / broker29
Feb 20, 2012 4:07 pm
I was in a real rush to get things settle and end up went through a broker which is very good. He find me a good deal with Homeside and end up only used 4 days to get pre-approval + 14 days for the settlement. I would definitely go thru them again next time for my construction loan.
Snowing's Build :
02/17/2012 - Land settled
08/21/2017 - Apply for Planning permit
03/21/2018 - Planning permit granted
11/23/2018 - Planning Plans approved
Re: Curious as to how people choose their lender / broker30
Dec 14, 2018 4:04 pm
Can be very tricky-as with all the information available-it is always the case it can be misconstrued or straight out false if not applicable to an individuals circumstances.
Best advice is to speak with brokers who do more asking than telling, and that the analysis and recommendation is based on Your personal circumstances and needs
Intellichoice Customer Care Team
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