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Ive got 2 house loans with anz. One of the house loans is split into 3 seperate loans. I have had no issues in getting the loans from var to fixed. this loan is under 90% lvr.
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So yours was done over the phone or with an email, or was it a 10 page application with new financials
How old were the base loans pls ?
ta
rolf
Hi Rolf,
loan 1, bought unit dec 2008 for 300K. borrowed 273K including LMI in that 273K. a year later I split the loan into 3, so that i had one var and 2 fixed loans, one that i did for 2 yr and the other as 3 yr. (this was my ppor at the time). They did not do a reval on the property, and it was just a matter of me emailing the broker i dealt with at anz from when i had the original loan setup, and he referred me onto the bank mgr to set it up and sign the paperwork. Basically went down there day 1, got paperwork within a week (think it was about 2 days to come up from melbourne), signed paperwork, then that was all done within a day or two in regards to splitting the loan out and fixing. This loan is break free.
I have gone back into bank branch to re-apply for fixed loan's when they expired, and i have also called up aswell. All times were done overnight and applied the next day. I prefer to go into the branch as opposed to over phone.
Come 2011 moved out of PPOR, and working up north. Decided to do another IP, and this time i went through a mortgage broker outside of ANZ. He deals with ANZ bank manager in one of the townsville branches all the time. He setup my construction loan, anz were doing 0.9% off new loans at the time with break free but he got me 0.95%. He also got me a second offset account under my break free package, and anz also applied the 0.95% disc on var loan1 too. (i dont know if this was the mortgage broker getting this, or anz stuffing up.. but either way win win for me!). I had a reval done on unit that i bought in 2008 around dec 2011, which it fell by 5K, but i was also ahead in repayments on my unit anyhow. I also had cash sitting in my offset account aswell.
As my construction has just been finished, anz automatically did a valuation on the house. As the property valuation was done 3-4weeks ago and the loan is IO for 5 yrs, I should just be able to do the Interest in advance for 3 yrs to get the 4.64% rate, which i have spoken to a bank about and the latest mortgage broker i have been dealing with never mentioned that i needed to go through and re-apply for the loan, and that she could set this up when im ready to go for this.
I had just been to anz to get a loan pre-approval for a ppor to settle in june, but im going to go through cba in the end to keep loans seperated for tax and hence i asked her about doing interest in advance when i was talking to her about ppor. So for the IIA it will be a matter of emailing her when im ready to have this done and i have her direct ph number aswell. I'm waiting for budget to see if i start it this financial or next financial yr, at this stage it will be july will be of more taxable benefit to me.
Rowena