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Thanks for all your help, i'll keep on saving for a for deposit for the next place!
Thanks Jamie,
Would have thought the bank would take into consideration of the currently debt level situation.
Jon
Thanks for both your responses.
I wouldn't be setting this up myself, I would get someone to arrange it, as you guys have mentioned, get it right from the start, so that I could avoid issues later on.
Might do more reading and have a chat with the family accountant
Thanks for your advice Jimbo8u, will take the points into consideration. It's an eye opener
Thanks once again Otto D.
I guess we learn soemthing everyday. When we first went into Aussie, the search they did came up with a whole bunch of products, as to why we didn't get the ANZ Breakfree package in the first place i'm not sure, but i first heard of it when i joined this forum!
Yeah i find the Breakfree package quiet competitive if we decide to link a few more loans to it down the track, and the annual fee of $375p.a. covers all the fee for every a/c but the CC rewards and the redrawal from an ATM from another finaical insit.
Thanks for your responses V8ghia & Otto D
V8ghia – In the first place, we actually went through Aussie HomeLoan and we got a pre-approval for ANZ simplicity plus homeloan, but the ANZ one offset a/c can't be linked to it!
So hence we went to the ANZ branch ot look at the Breakfree package after doing a bit of reading on the net. As you have mentioned we will also apply for the CC and ANz One offset a/c.
Only disappoint for this package is that with the rewards program for the CC if i've a set of cards and my partner also has a set we have to pay two sets of reward free $110pa for the two ($55 each p.a)
Otto D – Yeah heard about cases when people obtain a place via an auction an find out later to be reject by the bank., I would be gutted! I don't think it's an on the spotapproval, but she gave us a letter to say we could borrow up to this much along with other details… i would assume all loans/pre-approvals would have to go to the credit department right!!!
I assume it should be ok in our case, because when we intiiatly went through Aussie, we applied for the same amount and it was approved within a week, I assume all our paper work had to be sent to ANZ from Aussie for review. But every case it different and it might get reject….. but it's good to know this could happen then rather not know!
Thanks TerryW
Need to consider if i need to get a Anz Breakfree package setup or just have the ANZ loan an the ANZ-One. If i had a few loans it would be worth it, to take the $340 a year, but I'm not sure if that $340p.a will waive all the loan fees and the CC fee etc…. something i'll ask on Thursdays appointment!
Work Ur Money
Thanks Terryw
Just say cash builds up and you need to purchase a new family car. Would it be best to have that cash in the Offset a/c then?
So for the interest sake rather then opening another a/c just to save for the new car where you could pay tax on the interest
thanks
Work Ur Money
Hi all,
Been looking around the forum for a while. I've had a similar question to RJB, so in stead of asking i again i've posted in here, hope you don't mind RJB.
Currently in the whole process of getting a loan approval and finding a place that my partner and I would like. Would it be better for me to setup an 100% Offset a/c like ANZ One and linking it to ANZ loan paying IO? And have all or part of our wages put into it when we get paid. I've read in other posts it's recommended to do it this way as per explaination above by Terryw, if we was to get a IP down the track.
But would this all apply also for a FHO?
Thanks for any help
