Hi guys,
I read the news about ANZ as follow: (summary)
ANZ said it would scrap its $700 deferred establishment fee on mortgages broken within four years of origination.
It would also would waive loan approval fees for all new and existing mortgage customers applying for the
three-year fixed rate mortgage by December 31.
In addition, it will give $1,000 to non-ANZ customers wanting to switch to ANZ's three-year fixed rate loan within the same timeframe.Mr Chronican said the only exit fee not covered by the change was for break costs associated with fixed rate mortgages.
ANZ will not scrap its $160 mortgage discharge fee but had no plans to increase service fees to recoup the cost of abolishing the exit fee, he said.
My lender is One Direct and take over by ANZ. It current rate is 6.64% and hasn't announced the new rate after ANZ annouced yesterday afternoon. I call them to enquire my exit fee and answer is $1400 within 4 years.
I just wonder how come ANZ policy doesn't apply to the One Direct and One Direct has been taken over. One Direct now always follow ANZ rate rise since be takeover.
Does someone know how to report this case to ASIC?
Regards,
Reginald
Hi,
Just worndering if anyone knows if the axing of deffered establishment fees applies to existing loans? I have sold a property which will settle in 5 weeks from now and want to know if this would apply to existing loans.
Cheers
TLPYes the waiving of exit fees is only on new Contracts.
Existing signed contracts old exit fees apply.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
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