UBank Home Loan 4.46% $650k +

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    tomleonhart on 30/12/2014 - 12:02

    It said "available for limited time" so they will end when they have enough customer is my guess.

• [Deactivated] on 30/12/2014 - 12:09 Comment score below threshold.
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    Riczter on 30/12/2014 - 21:42

    Loving the financial advice, keep it coming. What I've learned about offset accounts and other general financial advice through ozbargain will likely save my parents thousands and me tens of thousands in the years to come.

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    tg on 31/12/2014 - 19:06

    We all like bargains.
    If we can sweeten the deal (save more!) by learning something useful, why not?
    If you do not like advises, just ignore those posts with positive votes.
    No one force you to read them.
    Happy new year!

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  Supercool on 30/12/2014 - 12:22

  +2

  I hardly trust brokers in real life, never mind InTeRnEt brokers. Stop trying to procure business.

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    Matt P on 30/12/2014 - 13:48

    +1

    i dont know, sounds like a bunch of people in here don't know enough about home loans (yet have them already) that a good broker would be useful to them.

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  nats on 30/12/2014 - 13:21

  +2

  Just be mindful UBank don't lend to the self employed, during which I was also told that the information collected during the application process would be 'archived' for future reference??

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  ethereal88 on 30/12/2014 - 14:57

  Let's spend $650K to "buy" a house and become a debt slave for 30yrs until you are an old fart and realize it was a waste. FANTASTIC IDEA! Slave to the banks. LUV IT! Never mind maintenance and insurance and capital losses … . .

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    Duram on 30/12/2014 - 15:16

    +3

    Lets keep paying of my landlords properties :).

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      Charity on 30/12/2014 - 16:01

      No one ever owns there house. Even when you have the title.

      Don't believe? Stop paying the rent council fees and see what happens.

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        Cluster on 02/01/2015 - 15:25

        Council fees pay for garbage collection, street cleaning, street repair, landscaping, planning, approvals so someone doesn't build a factory next to your house, etc. It's impossible to opt out of council fees and still expect to take advantage of the services offered.

        Saying "no one ever owns their house even when they have the title" is nit picking with semantics.

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    Patrickshen on 30/12/2014 - 16:48

    +2

    Your thinking is same as me 10 years ago, but I changed. Now I own 5 properties. And the Tenant help me pay the interest, council rate and other fee for my investment property. Give u a example, I purchased Macquarie park 5 years ago. It was 380k and the loan amount is 300k. Now I only pay 280 for the interest and 100 for the strata, council rate and water each week. Total adds up to 380. But I rent out for 450, I not only get capital gain during this 5 years but also earn maybe 50 each week. And capital gain is 220k during this 5 years.

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      JetBombat on 30/12/2014 - 19:18

      +1

      Nice, how other 4 are doing?

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      amsaini15 on 30/12/2014 - 22:13

      Definately agree with you mate. I have heard/read this arguments for last years and couldn't be happier by not following it. In last 2 years, people with Investment properties have easily made 100K-200K by doing nothing. Give me another way (apart from carrying drugs) anybody can make that quick money. Not saying everybody will make $100K in 1-2 years but if you have patience and hold you investments for 5-10 years time, you wont go wrong.

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  Patrickshen on 30/12/2014 - 16:58

  -8

  Broker here. I think offset account is very important, if u manager well. It can reduce lots of interest, it's suit for investment property, It can also benefit from tax. but if u only have 1 property and it's for own occupied, then heritage currently have best variable rate which is 4.39%, comparison rate is 4.40(no application fee) would be best suitable for u guys. If u guys have any question, pls don't hesitate to ask me. Cheers

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    Charity on 30/12/2014 - 20:39

    can you explain how a broker adds to the transaction?

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      tg on 30/12/2014 - 21:11

      +5

      I am not sure how a broker adds to the transaction.
      But I am sure how this transaction adds wealth to brokers in the form of commissions.

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    tg on 30/12/2014 - 21:02

    +3

    … but if u only have 1 property and it's for own occupied,

    WRONG! You never know about the future. Your owner occupied property might become an investment property one day. If you pay down the loan that only has redraw but no offset, you will regret.

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      amsaini15 on 30/12/2014 - 22:15

      And it happens with everybody but its too late to realize that they should have started with offset in the first place.

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      tomleonhart on 31/12/2014 - 08:49

      "WRONG! You never know about the future. Your owner occupied property might become an investment property one day. If you pay down the loan that only has redraw but no offset, you will regret."

      One day ? Almost every single person I know bought a second property down the track and turn their first PPOR into an investment property. Redraw is only good for bringing the mortgage down to <80% and then refinance into a mortgage with offset account, this is what most people do anyway.

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        tg on 31/12/2014 - 19:03

        bought a second property down the track and turn their first PPOR into an investment property.

        Those are "accidental" landlords.
        They did not intend to do property investing when they bought their first property.
        They are those who got bitten by "advises" from some brokers or bank managers who claim that there is no need for offset if buying PPOR.

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  thydzik on 07/01/2015 - 11:11

  +1

  when I was trying to negotiate a better rate with nab, here is some info from others I found;

  bankwest $760k 4.69%
  bankwest $1.32mil 4.63%
  Homeside $1mil+ 4.68%
  ingdirect $1mil+ 4.63%
  nab $1.5m 4.63%

  edit: researched in November.

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