which banks offer you the best discount for your home loan ?

[Tman]

Hi all,


We have been with westpac for 5 years and the best
they can offer is .82 discount on their premier package.
I know that onedirect can offer you at .86% but they can't match it.
Do we have any here with onedirect ? are there any restrictions on their homeloan ?
Has anyone re-finance lately??
If you have which banks
are you with and what are the advantages of your home loan.
please share with us.

Thanks

 

[younginvestors]

I have a One Direct fixed rate 6.95% mortgage. I am able to draw down on the equity as a separate loan (variable rate)

When I refinanced I only looked at the interest rate - I wasn't investing at that time. Now I know more - I'd certainly be looking for a more flexible product in terms of a LOC - for my needs.

I have found One Direct great to deal with - generally the same person has been with me through the process - even through drawing down the equity loan.

I've just discovered the NIVA products (Nil Interest Visa Account) which are linked to LOCs. Apparently you can save more on your Home Loan using a NIVA and LOC . I'm yet to see a comparison...hopefully this week.

fyi...

http://www.ingdirect.com.au/home_loans/our_products/line_of_credit_loans/smart_home_loan.htm

Anyone had any experiences with a NIVA product?

 

[Qlds007]

Tman

I think the days of getting 0.82% discount from WPac have been and gone.

In fact for any loan under 750K to $1M most lenders are not discounting over and above the normal 0.7%.

You also have to remember that 0.8% below the SVR is all well and good but if that lenders SVR is 0.2% higher than the next you are really not getting much of a deal.

Many of the online lenders offer a limited variety of product and features for a sophisticated investor however i guess it is horses for courses.

 

[Rolf Latham]

Hi Tman

What you have is pretty good I reckon

Sanity check....................thats where this site is very helpful

Moving for .04 % doesnt make any sense at all................3.33 per month for every 100 k of loan.

Now ok , if your loan is 5 mill then its worth looking at


ta
rolf

 

[alexlee]

I was thinking that when I read the first post. 0.04% isn't much. I'd be much more concerned about response times, serviceability calcs, what features the loan has, etc.
Alex