Forum Replies Created
- v8ghia wrote:Must admit that unless someone is after a fixed loan, or offset facility, for a PPOR especially, or a sub 250k IP, why would you go past one of the so-called basic variable homeloans. Some of these loans are .7 (.8 for 'introductry ones if you are looking short term, though I'm not a fan of intro loans) and a couple of the banks even have no monthly fees either! Same discount, no annual or monthly fees, and you get redraw if required. And when rates go down…….. IF all you want is a homeloan without transerrifng cards, banking, and the other things mentioned, I reckon a base variable loan now is a no brainer…..
Basic variable homeloans are usually less flexible and with very limited features. I personally like my money to work hard for me, so free redraw is a must. In addition, they normally dont work with professional packages, which means you may hardly talk down the rate further. Yes the rate is relative low, but not that low as you may get with a package. In another word, it is less negotiable.
not_so_lucky wrote:xpine73 wrote:I got 0.85% off the standard variable rate from Westpac today, with a $300k size Rocket Repay home Loan.Did you have to pay for their
Establishment fee - $600
Annual service fee - $199
http://www.westpac.com.au/internet/publish.nsf/Content/PBHLPR+Rocket+Repay+Home+Loan
I got that discount with a professional package which costs me $395 annual fee. The application fee and $199 annual fee have both been waived. So nothing upfront, $395 is all I have to pay annually.
PS: Heard people got 0.8% off from CBA with a $500K size home loan.
Thanks guys. I will think twice.
I have contacted them and found out they will put up 0.33% this time corresponding to the latest official rate rise.
Good information lifeX. Thanks a lot.
Thanks Alistair.
I really think this kind of discount is just one of their sales tricks. Coz I was told next week their standard rate will be 9.27% up from 8.97% to reflect the latest official rate rise, 0.3% up instead of 0.25%. Even with 0.85% discount that I got, it will still be 8.42%, well above many other lenders on the market, let alone the $395 annual fee that I have to bear for the professional package to get this discount. Boosting the rate then giving customers more "discount", does not help a lot except for making borrowers feel better.
It took me only half an hour to get this deal. There is probably still some headroom to squash.
I got 0.85% off the standard variable rate from Westpac today, with a $300k size Rocket Repay home Loan.
yeah i heard the same thing. But also heard some mates have still managed to get 0.85% off from Westpac. I will have a chat with Westpac tomorrow and keep you posted. Cheers.
Remove finace condition and offer them a sooner settlement date, if they like.
Thanks Linar.
That contract is a standard one. But the vendor just left everything regarding GST intact.
Or buying FROM a company/person registered for GST?
Thanks a lot anyway, Linar
Thanks Scott for giving me a peace of mind. I think I will go ahead with this deal.
To Ian: Those properties have been sold through different agents. And even I can find previous owners, are they willing to reveal some story under table( if there is any), which would probably put themselves in a worse position (something like scams)?
to Ian: I wish I had that opportunity. Do you have any idea how I can contact them?
to Marg4000: You r probably right. Coz the whole street has been booming. People get tempted by the money that their neighbours got.
Have got the Section 149 reprot. Cannot find anything major, only minor things like Tree Preservation Order. I start to believe it is just a coincidence now. Any other ideas?
Thanks mate. I am expecting the 149 certificate now. Will keep you guys posted.
Thanks Scott.
The new rail line is a good thought. I have checked the map and found it is nowhere close to the property. And I have spoken to a few residents but did not find anything major either. The 149 certificate attached to the contract was done nearly one year ago, so probably I will do a latest 149(2)+(5) search, which is not cheap but worth the money if giving me a peace of mind.
I could be too paranoid but anyway, really appreciate your suggestions.
Getting fixed is a gamble against banks who have more expertise to predict the interest rate trend.
Thanks Scott.
It is a 25 unit block actually. I am thinking of doing a section 149 search for proposed and draft development plans from council. The only thing I can think of (if there is anything under table) is there might be some proposed plans affecting the land, coz it is a Crown Grant title land. But on the other end, even if there is anything against the land, it should be against the whole land which belongs to owners of the 25 units collectively and wont only affect those 4 units individually, is this right?
Thank you for your input.
Thanks L.A. Aussie.
I have been doing that actually. While most agents wouldnt give me straight answer since those properties have been sold. The agent of the townhouse I am looking at told me exactly the same answer like yours. It is so werid. I am buying No.16, while No.15, 17, 18 were all sold in the past 2 or 3 months. Two of them were apparently investment properties. And the other one was renovated before sold.
Thanks anyway.
