Browse Forums Home Finance Re: Need advice on selecting a home loan 4Jul 12, 2010 12:25 pm Deemaree Kyndylan Capers: viewtopic.php?f=36&t=46852 My blog: http://www.sufficientlysufficient.blogspot.com/ Re: Need advice on selecting a home loan 6Jul 12, 2010 2:04 pm Deemaree Kyndylan Capers: viewtopic.php?f=36&t=46852 My blog: http://www.sufficientlysufficient.blogspot.com/ Re: Need advice on selecting a home loan 9Oct 08, 2010 11:14 am failed URL INSERT [/url] edited by kexkez Homeone moderator Re: Need advice on selecting a home loan 11Oct 08, 2010 3:27 pm Huggy_B you stuffed it up twice crist001754, enjoy the ban hammer. You're good at spotting them Huggy. Re: Need advice on selecting a home loan 12Oct 13, 2010 11:11 am Have you looked into ANZ simplicity Plus? That ticks all your mandatory boxes. It is .7% lower than variable, throughout the life of the loan. No application fee for first time home buyers, no ongoing fee either, you can split the loan between fixed & variable and of course, you can pay extra repayments. Re: Need advice on selecting a home loan 13Dec 18, 2010 6:53 am I would recommend a broker. You know what is available as you have done your research. Now it is up to your broker to find you a better deal at no cost to you. Also remember these deals offered are easy to secure if you are a clean skin with a good credit rating low LVR (i.e have 20% deposit) and can easily make the repayments at +2% (i.e repayments + 2% = one third of wage). If don't tick all these boxes then a good MB can really be worth thier money (not that yopu pay them!) PM if you want the details of a MB I have used, he secured us a good loan at rate lower than offered to joe public. Building an Eden Brae Saville 27 http://karry327.blogspot.com/ Building thread https://forum.homeone.com.au/viewtopic.php?f=31&t=44247 Need advice on selecting a home loan 14Dec 18, 2010 10:35 am I've got a homeloan for 12 years.. It should be 30 but the setup accelerates payments and counteracts the interest rates so I don't freak when rates go up. Suppose it's like an offset account but it's a new version and I'm pretty happy because Im saving a bucket load and the people I deal with are a) actual people b) really nice!! I'm pretty sure there's an office in canberra Pm if you want more info. Garden - viewtopic.php?f=19&t=44214&p=670323#p670323 Decorating - viewtopic.php?f=6&t=47218&p=715743#p715743 Re: Need advice on selecting a home loan 15Jan 02, 2011 3:21 pm Hi Mike, I am also a first home owner from canberra. I got into the market around 6 months ago, borrowing 270 through IMB and purchased in queanbeyan. I did my research and went with IMB as they offered me a product, and service that really suited my needs. it gets quite confusing, and tedious. sometimes you find a lender that has a really good product, and then realise that they won't lend you enough for what you need. my advice is to just meet with everyone you can, and take notes of what they can offer. ask as many questions as you can! Re: Need advice on selecting a home loan 16Jan 02, 2011 5:21 pm racmike Hi I live in Canberra and I am planning to take a mortgage loan for $300,000 (first home owner). I haven't gone to a mortgage broker yet, and I am comparing the home loans by doing my own research. Here are my thoughts: 1. Since the loan is a long-term commitment (30yr), I would be more comfortable with dealing with someone who has an office in my state territory. To me, dealing with someone in a call-center over the phone regarding my home loan is not something I am comfortable with. For that reason, I am ruling out BankWest, Myrate etc.. 2. I haven't gone to mortgage brokers such as RAMS , Aussie, MortgageHouse etc.. Can someone please tell me whether mortgage brokers get you a better deal than what you would get if you go to the financial institution directly? If so, I might consider going down that path. 3. I would like to have the following facilities in my mortgage loan - extra repayment (mandatory) - split facility (mandatory) - no application / ongoing fees (mandatory) - repayment holidays (desirable) - introductory rate (desirable, but not too fussed about) - offset account (desirable, but not too fussed about) I am just tossing between the Big4 and ME Bank at the moment. The Big4 offer package loans ($350/yr fees) which offer (0.2% off fixed rate and 0.6% off variable rate). The packages are pretty much the same between the big 4 - so let me take Westpac Rocket Replay Loan as an example. Westpac Rocket Repay Loan : * Variable rate 7.51% p.a., comparison rate 7.64% p.a. * Fixed rate 6.89% p.a., comparison rate 7.57% p.a * Discount of up to 0.7% p.a. applies with the home loan package. ME Bank: * No application or ongoing fees * Eligible Members (I am an eligible super member) - Variable rate: 6.99% Comparison Rate 6.99% Fixed rate: 7.10% for 1 yr Comparison Rate 7.00% Say, if I split my $300,000 loan into 80% variable and 20% fixed, which of the above two options is better for me (i.e, I end up paying less)? Are there other factors that I have overlooked while considering my loan options? Would I get a better deal (from the Big4) if I go through a mortgage broker? Regards Hi Racmike, I suggest you use a mortgage broker as it will make home loan process more "enjoyable"- if you want to find a MB in your local area visit http://www.MFAA.com.au and search by postcode. All MFAA MB are bound by a code of practise and professionalism. Here are my thoughts on your post: 1. Dealing with a professional MB over the phone rather than face to face does have its advantages but you will still get the same service over the phone compared to face to face. What you probably after is the "LENDER" having an local branch nearby where you can discuss any problem you might encounter. 2. The rates are the same if not better depending on the lender you choose. But overall the experience will be less stressful and enjoyable via a MB. 3. From your list, the product your after is a "basic home loans" - no package no fee ( some lenders will still charge a fee if you make extra repayment of over $10,000 a year) . Regarding application fee; there usually is a application fee still ( it does get waived off from time to time- depending on promotions the bank are running, usually during the quieter seasons- ie Dec and January ) Good luck. Regards, Michael Re: Need advice on selecting a home loan 17Jan 15, 2011 5:32 pm Very few brokers are able to offer all loans currently available but, they do have the flexibility to redo an application with another lender should your initial preference not be available. I got a list of the most suitable loans for me from http://www.homeloancheckup.com.au and then located a broker who was able to put the loans that appeared most favourable in place. For a couple I dealt directly with the lenders online but I like working that way. Re: Need advice on selecting a home loan 18Jan 15, 2011 5:36 pm Have you considered ING have good rates Re: Need advice on selecting a home loan 19Jan 15, 2011 6:30 pm We are with ME, and have been for years. We have looked at other loans from time to time, we were going to use a Mortgage Broker at one stage, we told him what we were paying with ME and he more or less said "you should stay with them" if you are happy. We have been happy with them, they have been very helpfull, we have just got our own bank at Epping Plaza, before that we dealt with them over the phone. Everyone pays the same rate, thats how they keep it low, we have never had a problem with them and there were never any join fees, or start up fees added to the loan. The biggest challenge will be if you take out a loan and then run out of money - you'll have an incomplete security and lenders do not like this so you can get stuck.… 2 19262 Hi, you've probably already resolved this, however, Commbank will probably pay the funds to you after you send evidence the work is done regardless the change in the quotes. 1 35464 Levelling compound Ardit is the best but buy a bag of sand and make sand dam to protect your wood floor 2 15295 |