All Topics / Finance / anyone heard about Better Option Home Loans?

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  • Profile photo of Ch4rlieCh4rlie
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    @ch4rlie
    Join Date: 2010
    Post Count: 11

    I came across their website on Canxx.

    http://www.betteroption.com.au/85loan.htm

    Their 3 year fixed rate looks good. Is anyone with them or heard about better option home loans?

    Profile photo of Jamie MooreJamie Moore
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    @jamie-m
    Join Date: 2010
    Post Count: 5,069

    Hi there

    There are larger second tier lenders offering similar rates on the three year fixed.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of Mick CMick C
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    @shape
    Join Date: 2010
    Post Count: 1,099

    As Jamie said; it’s the same deal offered by a “more well known” lender.

    Regards
    Michael

    Mick C | Shape Home Loans
    http://www.shapehomeloans.com.au/
    Email Me | Phone Me

    Same Banks. Better Rates. Served With a Passion.

    Profile photo of Ch4rlieCh4rlie
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    @ch4rlie
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    Jamie M wrote:
    Hi there There are larger second tier lenders offering similar rates on the three year fixed. Cheers Jamie

    Thanks Jamie, i'll continue my research. 

    I originally wanted to refinance through loans.com.au but they were too conservative and wouldn't take me on board.

    Profile photo of Richard TaylorRichard Taylor
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    @qlds007
    Join Date: 2003
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    Hi Ch4rlie

    When you say too conservative are you referring to the credit policy of the lending institution.

    If so why waste your time ringing around and trying to get information on policy which most lenders wont give you anyway.
    Why not drop either of the above guys a line and get them to come up with a solution as there is more to lending than the lowest advertisied rate of interest.

    Cheers

    Yours In Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Ch4rlieCh4rlie
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    @ch4rlie
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    Qlds007 wrote:
    Hi Ch4rlie

    When you say too conservative are you referring to the credit policy of the lending institution.

    If so why waste your time ringing around and trying to get information on policy which most lenders wont give you anyway.
    Why not drop either of the above guys a line and get them to come up with a solution as there is more to lending than the lowest advertisied rate of interest.

    Cheers

    Yours In Finance

    The lending manager i spoke to at loans.com.au was telling me their calculations once he found out im credit consultant myself and was on the same page as him, I know the banks will take me over but was after a better rate. Might try ubank next..
     
    Yeah a mortgage broker might come in handy as they can do most of this work for me, but they mostly deal with the bigger banks, basically i want to see whats the best deal i can get in this market condition.

    Profile photo of Richard TaylorRichard Taylor
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    @qlds007
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    Post Count: 12,024

    Really i certainly deal with the larger banks but many smaller lenders also.

    I would touch ubank with a barge pole for lending but i guess you are no me.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Ch4rlieCh4rlie
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    @ch4rlie
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    Qlds007 wrote:
    Really i certainly deal with the larger banks but many smaller lenders also.

    I would touch ubank with a barge pole for lending but i guess you are no me.

    Cheers

    Yours in Finance

    Just got off the phone with Suncorp, they have a package with a discounted variable at 6.55% and their 3 year fixed rate is 5.99.

    Sounds pretty good to me, any thought on Suncorp as a lender?

    Profile photo of Mick CMick C
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    @shape
    Join Date: 2010
    Post Count: 1,099

    If a broker ONLY deals with the Big 4 banks and the more “main stream ” banks, i can tell you; THEY WILL NOT SURVIVE in this market place. Clients situation can change quite a bit…and we need banks that can match the client’s needs as it changes… and sometimes this means going to credit union , smaller banks , non-conforming , international lenders and even private lenders.

    But as Richard mentioned, not alwasy about the rate; the rate at times can be just be a “marketing” tool to get you in the door. Remember rate can change…a bank’s policy, service and reliability hardly does.

    I use to have a ongoing relationship with a particular mortgage manger company many years ago ( name will not be mentioned!, dont want to give them free advertising now do we…) and their rate were always a good 0.4% cheaper then the major banks and 0.2% cheaper then most of the credit union. 3 month later i get a call from the client to say the rate has gone up 35 basis points! ( without RBA movement) and they sent a letter saying it ‘s due to funding cost etc…gave them a call was on hold for 1hr + ( guess they got plenty of calls that day) and at the end they pretty much said ” that’s business…deal with it”

    Well that’s the end of my business dealing with them…Still get their emails and updates; as i guess im still accredited with them, but even if they offer 6.35% i would not even bat a eye!

    Currently have 51+ accredited lenders on our books ,But if possible we would avoid some mortgage mangers, and smaller banks unless they have shown years of consistent good customer service and reliable steady interest rate- else we wouldn’t even recommended them.

    Regards
    Michael

    Mick C | Shape Home Loans
    http://www.shapehomeloans.com.au/
    Email Me | Phone Me

    Same Banks. Better Rates. Served With a Passion.

    Profile photo of Mick CMick C
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    @shape
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    Ch4rlie wrote:
    Qlds007 wrote:
    Really i certainly deal with the larger banks but many smaller lenders also.

    I would touch ubank with a barge pole for lending but i guess you are no me.

    Cheers

    Yours in Finance

    Just got off the phone with Suncorp, they have a package with a discounted variable at 6.55% and their 3 year fixed rate is 5.99.

    Sounds pretty good to me, any thought on Suncorp as a lender?

    Currently im writing a few of our loans with Suncorp- due to it’s promo1.03% discount, Having said that if you know the right question + loan amount is high enough, you could get it escalated so you could get a discount of >1.08% + no application fee.

    But i can tell you they are slow- super busy.

    Regards
    Michael

    Mick C | Shape Home Loans
    http://www.shapehomeloans.com.au/
    Email Me | Phone Me

    Same Banks. Better Rates. Served With a Passion.

    Profile photo of Jamie MooreJamie Moore
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    @jamie-m
    Join Date: 2010
    Post Count: 5,069
    Ch4rlie wrote:

    Just got off the phone with Suncorp, they have a package with a discounted variable at 6.55% and their 3 year fixed rate is 5.99.

    Sounds pretty good to me, any thought on Suncorp as a lender?

    I've got a big lender that will match the 5.99% 3 year fixed – just have to ask them nicely :)

    As the other guys mentioned, we certainly don't restrict ourselves to the majors. It's all about matching the client to the most suitable product for  their needs – which doesn't always land with the big 4.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

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