Thanks, I'll check it out god_of_money!
You won’t get 6.9% with ANZ – you’ll get 7.0% on $250k and if you’re in NSW/ACT you’ll have the first annual breakfree package waived ($375) – not sure about other states.
They’re generally a lot quicker to deal with than B’west.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
They offered me 0.9% disc … so 6.9%… not too bad but not the lowest
I am thinking about going to Choice package with 6.77% (my friend be able to secure it
loan ~ 1 million with 65% LVR)god_of_money wrote:They offered me 0.9% disc … so 6.9%… not too bad but not the lowestI am thinking about going to Choice package with 6.77% (my friend be able to secure it
loan ~ 1 million with 65% LVR)Thats not a bad deal
Which one? ANZ or NAB
NAB, i like it and they give the most cash back
Have done this kind of deal before?
The reason it is so low because his accountant rebate 100% trailing commision into the product… making it 6.77%
I heard that it may be able to get 6.67% from NAB….thinking about doing the same thingYes I have done it before, going direct to the bank gives borrowers higher discounts
god_of_money wrote:They offered me 0.9% disc … so 6.9%… not too bad but not the lowestI am thinking about going to Choice package with 6.77% (my friend be able to secure it
loan ~ 1 million with 65% LVR)I take it your loan was greater than $250k though?
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Jamie M wrote:god_of_money wrote:They offered me 0.9% disc … so 6.9%… not too bad but not the lowestI am thinking about going to Choice package with 6.77% (my friend be able to secure it
loan ~ 1 million with 65% LVR)I take it your loan was greater than $250k though?
It has to be
god_of_money wrote:Have done this kind of deal before?The reason it is so low because his accountant rebate 100% trailing commision into the product… making it 6.77%
I heard that it may be able to get 6.67% from NAB….thinking about doing the same thingNAB don’t pay trail commission to brokers – so not sure how that can be built into a lower rate.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Must of passed on the referral commission, I do it all the time
Homeside pays trail
ksherwell wrote:Homeside pays trailHe was talking about NAB direct (choice package) – not Homeside.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
My loan size is 750k…. But still competitive… Should complain to bring down
god_of_money wrote:My loan size is 750k…. But still competitive… Should complain to bring downAre you going direct to the bank or to a broker?
ksherwell wrote:Yes I have done it before, going direct to the bank gives borrowers higher discounts
It can also lead to poor structure set-up which may cost much more in terms of lost opportunities down the track. We have many clients come to us after having their loan structures stuffed up by a branch staff member when going direct.In terms of competitive rates – we should also take into consideration some of the 2nd tier lenders that deal directly through the broker channel. One of which will do 6.88% with no app or ongoing fees. You don't need to bargain them down or have a multi-million dollar portfolio – as long as the LVR is sub 65% you'll get the 6.88%. Any LVR higher than 65% and you'll get 6.98% (still not bad).
At the end of the day – when investing, the correct finance structure for accumulating property should be paramount. I'd put that above interest rate or rebates any day.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Your not wrong there, never go to branch staff, they need to know too many tasks and thus can specialise in 1 field.
I refer to mobile bankers, they only deal with home loans and thats it.
I could refer to branch, but they stuff around too much and loan take a lot longer
NSW- i’ll keep this post short- since you probably have plenty of information to process already ( 33 post wow!)
– Bankwest Prem home Loan is a good completive product and for your needs PPOR- > IP it’s perfect
– They are slow for self employed loans i find…for a straight 80% LVR, PAYG you wont have a lot of problems.
– There pre-approval is useless…make sure it goes to unconditional approval – so get all the Docs to your broker quicklyLastly welcome to the world of property investing
Regards
MichaelMick C | Shape Home Loans
http://www.shapehomeloans.com.au/
Email Me | Phone MeSame Banks. Better Rates. Served With a Passion.
Woah! This post exploded overnight. God_of_money, you hijacked my post but that's ok haha. Thanks for your advice Michael. My mortgage broker said I was 'vanilla' – I took this as a compliment. She meant that she can't see any problems as I don't have any existing debt, a good wage and over 20% deposit so hopefully there shouldn't be any problems. I shall think about this on the weekend as I have an appointment with her on Monday. Thanks everyone!!!
You must be logged in to reply to this topic. If you don't have an account, you can register here.
