Bank MECU Anyone?

[Tristan1]

Don't know much about Bankmecu but interested in peoples opinions.

They are offering a Basic home loan investment special of 4.60% (4.61% comparison rate) And they will capitalise LMI above 90% with that rate. Sounds pretty good.

Pretty sure brokers don't use them.

Has anyone used Bank MECU?
Thoughts?

 

[spludgey]

I've been with them for over 15 years. I like them from a perspective that you can get someone on the phone and get things sorted quickly.

I've got a home loan with them as well.
Personally, I wouldn't use them for a loan again as I find it much easier to go to my mortgage broker and tell him what I want and get him to do all the legwork.

I think it's hard to get a mortgage with them once you're a bit stretched (was my first one).

 

[Marty McDonald]

General risk tolerance, cash out policy and if they have in house LMI / LMI approval authority are far more important than rate.

 

[Benn]

I've been with them for about 4 years now and find their rates competitive. The guy that manages my investment loans has always been receptive to my requests to have the interest reduced when I can show competitors rates are lower.