ANZ breakfree package

[jingo]

I was just looking at the one direct site. Their loans don't seem to have offset accounts? If you're going to be switching PPORs at some stage, an offset is essential.

Think about it: why would ANZ market through One Direct if it's the same loan? Answer: it's not. It's a no frills version which doesn't have as many bells and whistles. For me the biggest issue is the lack of an offset account.
Alex

Hi Alexlee,

Yes, One Direct is basically a 'No frills' version of ANZ. I believe no offsets are available. This wasn't an issue for us as our PPOR is fully paid for and we have just set up IP loans with them. (We don't require an offset account).

Regards Jason.

 

[jingo]

As an afterthougt Alexlee, I believe there is a withdraw facility free of charge with One Direct. This may be suitable for PPOR.

Regards.

 

[alexlee]

As an afterthougt Alexlee, I believe there is a withdraw facility free of charge with One Direct. This may be suitable for PPOR.

Regards.

If you're withdrawing extra payments to buy other investments, yes. For myself I'll be buying a PPOR with a 80% LVR and I might switch PPORs down the road. For me, I need an offset.

But if you're PPOR is fully paid off you don't have this problem. Though just curious, how many years did it take to pay your PPOR off?
Alex

 

[jingo]

But if you're PPOR is fully paid off you don't have this problem. Though just curious, how many years did it take to pay your PPOR off?
Alex[/QUOTE]


Hi Alexlee,

We were very lucky when we entered the housing market. Bought a block of land in 1997 just before the boom for $36,000. (Altona Meadows - about 20 minutes from the city in Melbourne's Western suburbs). Built a house on the land - total cost only $130,000. We paid cash for the land and had a little left over for the house. Pd it off in about 2 yrs. Its only an ordinary house, but its comfortable. We have leveraged off it to buy IP's. We would like a bigger house at some stage, but it will do for now until we build up our portfolio. My wife and I are 37 and 35 respectively.

Which suburb are you looking to buy your PPOR in in Sydney?

Regards Jason.

 

[alexlee]

Which suburb are you looking to buy your PPOR in in Sydney?

Basically looking in the suburbs along the train line from maybe Pennant Hills down to Ryde. It's an area I'm familiar with. Anywhere from Ryde, through Eastwood, Marsfield, Epping, Cheltenham and so on up to Cherrybrook.
Alex

 

[jingo]

Basically looking in the suburbs along the train line from maybe Pennant Hills down to Ryde. It's an area I'm familiar with. Anywhere from Ryde, through Eastwood, Marsfield, Epping, Cheltenham and so on up to Cherrybrook.
Alex

Will you be returning to Australia once you buy your PPOR, or will you rent the property out for a while and return overseas?

 

[alexlee]

Will you be returning to Australia once you buy your PPOR, or will you rent the property out for a while and return overseas?

Return to Oz first and THEN buy the PPOR, naturally. I wouldn't buy an IP in that area. Goes against my usual philosophy of many cheap properties. I don't mix IPs and PPOR, and I've bought IPs while overseas before.
Alex

 

[jingo]

Return to Oz first and THEN buy the PPOR, naturally. I wouldn't buy an IP in that area. Goes against my usual philosophy of many cheap properties. I don't mix IPs and PPOR, and I've bought IPs while overseas before.
Alex

All the best with the house hunting then Alex.

Regards Jason.

 

[tobe]

I like the anz breakfree package because ANZ let you keep a copy of the valuations, which is diferent to the other banks. I think they restructured the fees recently so instead of doing the vals for free, they now charge 100 bucks, which is still a lot cheaer than doing them yourself for 500. The most important thing is not to cross securitise. Please make sure you are clear about his with your broker, and get it in writing if possible.