Heritage said that this is the lowest rate they have ever offered in their over 100 year history.
Heritage 3.99% one year fixed
- Thread starter Nth Brisbanite
- Start date
yea...but it reverts to a high variable, you can't win
3.99% for 2+ years and i be impressed
What's it's variable?
Reverting standard variable is 5.64%.
Or you can switch over to their cheaper products and pay a $600 switch fee.
Both are fairly expensive products when compared to what else is available (with almost everyone else). Moving to a different lender is likely to cost as much as the fixed rate saved in the first lender.
Heritage occasionally have a good deal, but not consistently. There's a lot more to cost effectiveness than just a low number.
Don't even get me started about the fun had in getting a loan approved.
Plus you need to be a neurosurgeon to even service with the heritage.
Heretic also wants to know what colour underwear you prefer and wether your feet have standard width.
from a third party ethics Point of view they also like to pillage broker introduced loans.
Most recently trying to lock down a loan renewal for a 5 year fixed rate ending in Dece,ber 2014. proactive is one thing ..............
But, they do have their place !
ta
rolf
from a third party ethics Point of view they also like to pillage broker introduced loans.
Most recently trying to lock down a loan renewal for a 5 year fixed rate ending in Dece,ber 2014. proactive is one thing ..............
But, they do have their place !
ta
rolf
You're fact find should have that covered surely Rolf?
I guess if you had a high enough loan amount (so interest savings cover the cost of refinancing away from them) & wanted to refinance at the end of 1 year it could make sense?
In my experience Heritage goes well beyond any fact find...
It does make sense if you switch to their basic after year 1, even on a loan of $150,000. The bank is relying on your apathy to ensure that you do pay a bit extra. Even then, their basic product is more expensive than competitors so it'll still likely cost you extra in the long run.
