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3.89%p.a. (CR 4.06%p.a.) Prime Professional Pack Refinance Special @ Naritas

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MEZY-OZB-021

3.89%p.a.*(CR 4.06%p.a.)^

  • Includes 100% offset account!
  • Offer limited to owner occupier refinances, minimum loan size $350,000.
  • Variable loan that allows extra repayments to be made at any time without penalty.
  • Free ATM cash withdrawals @ Adelaide Bank, Bendigo Bank & Suncorp Bank ATMs.
Other features:
  • Multiple Account splits okay.
  • Redraw Facility available.
  • Portability/Substitution of security available subject to credit assessment.
  • Extra repayments may be made at any time without penalty.
  • Unlimited free phone and internet transaction.
Annual fees:
  • $330
Acceptable purposes:
  • Owner occupier refinances only.
Eligibility:
  • Personal, Company and Trust borrowers.
  • Not available in conjunction with any other Naritas promotion, reward or rebate.
  • Applicant must mention referral source as “OzBargain” along with promo code “MEZY-OZB-0216” at the time of application.
Acceptable loan amount:
  • $350,000 – $2,000,000
Max LVR for this rate:
  • 80%LVR for metro locations.
Loan term:
  • Up to 30 years.
Loan processing Fees:
  • $264 Valuation.
  • $440 Application (can be capitalised into loan amount).
  • $330 Legals (can be capitalised into loan amount).
  • $130 Settlement Fee (can be capitalised into loan amount).
  • $795 Discharge Fee (only payable at loan discharge).
Further product details:
  • Product issuer – Mortgage Ezy.
  • Product name – Ezy Prime Professional Package Variable.

Disclaimers
This information has been prepared for distribution over the internet and without taking into account the investment objectives, financial situation and particular needs of any particular person. Naritas Finance Pty Ltd ACN 096 341 061, Australian Credit Licence 441723 (“Naritas”) makes no recommendations as to the merits of any financial product referred to in this website, emails or its related websites.
Any information or product contained on this website does not constitute a recommendation or suggestion to purchase or apply for any particular product with any particular institution and may not suit your personal objectives, financial situation or needs. Please consider whether it is appropriate for your circumstances, before making a decision to purchase or apply for any product.
We do not cover every product, provider or service available in the market.
If you are considering acquiring any financial product you should obtain and read the relevant Product Disclosure Statement or other offer document prior to making an investment decision or accepting an offer of finance. Please contact Naritas or the product provider directly for a copy of the PDS.
This page contains information obtained from sources believed to be reliable and has been prepared in good faith and with all reasonable care. Naritas makes no warranty, express or implied, concerning the suitability, completeness, quality or exactness of the information and models provided in this website.
Neither Naritas, its related entities, nor any of its providers of information, have any liability to the user, or any other third party, for the accuracy of the information or models contained in this website, or for any errors or omissions therein, nor will Naritas or any of its providers of information have any liability for the use, interpretation or implementation of the information or models contained herein by any person.

*Special Discounted Rate applies to minimum loan size of $350,000 and Loan to Value Ratio under 80% (more than 20% equity). Terms and conditions apply.
^The Comparison Rate is calculated on a loan amount of $350,000 for a term of 30 years based on monthly repayments.

WARNING: This Comparison Rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different Comparison Rate.

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closed Comments

  • $795 for discharge? I thought the government capped this?

    • Hi bharrop, thanks for taking the time to check out our deal.
      The government eliminated deferred establishment fees for variable consumer loans. Exit fees are still commonly charged, however. Details here. The exit fee for most major financial institutions is ~$500 but that is typically coupled to an interest rate 30+ BPS p.a. higher than this rate.
      Hope this helps

  • +1

    Naritas is really good to deal with !! + from me

    • Awwww <3 thanks for the kind words Ravzter :)

  • How much for investment loan? I've got one of each

    • Hi wazza23, thanks for the question.
      Right now investment lending is not being incentivised heavily due to recent moves from APRA to curb investment lending levels. As a general estimate (i.e. not financial advice) we reckon you could add 0.25%p.a. to the rate for a variable on an investment deal that met similar characteristics to this deal posted above. Investment lending is also largely being assessed ad hoc these days, so this generally means that investment borrowers who aren't heavily leveraged (and who also own an o/o property) are getting better rates than those who don't meet that kind of criteria.
      If you had a specific scenario you wanted evaluated for a rate, please feel free to send us a PM, it'd be our pleasure to assist.
      We also publish a list of our most popular investment finance products (along with their rates) here.
      Hope this helps.

  • http://www.reduceloans.com.au/rate-buster-fee-free-variable-…

    this is a lot better ……yes its no name but if got little to pay off its worth

    • Hi pichka, thanks for the feedback.
      The offer you've linked to at 3.94%p.a. is a higher rate than this offer, however, that offer you reference has no annual fee.
      As such, for the average borrower in Sydney & Melbourne metro (and arguably Brisbane and Perth metro) where their loan size is approaching $500K+ (if not higher) the lower rate in this offer may prove superior dependent on their requirements. We'd encourage people to do their own calculations.
      Also, as most people would agree, there is also a service and consistency element that ought to factor into the equation when assessing a loan offer. The product issuer, Mortgage Ezy, just beat out some major competitors (including CUA) to win non-bank of the year at the Australian Lending Awards.
      Hope this helps

  • I am looking for a good rate for refinancing. 350k loan < 80% LVR and currently with bankwest but the best they offering me is 4.44% variable. Can anyone recommend a good lender? I don't really want to go with an unknown entity such as this.

    Looking for variable with 100% offset or like Bankwest which is unlimited free redraws with no minimum.

    • If you were looking for an offer from a lender that competes on the level of Bankwest you may wish to check out this offer. It's from Newcastle Permanent who is a 100+ year old building society and is one of the most awarded lenders in Australia. At your loan size we'd estimate a rate of 4.09%p.a. (CR 4.45%p.a.) and a switching rebate to cover the refinance costs of $1500.
      Hope this helps.

      • What about ING? Their comparison rate is lower plus 1% cash back.

        • Funny you mention ING, we had an offer on them just recently and it was very popular. So, in our humble opinion, there is nothing wrong with the ING offer and we're typically able to deliver $1000 to cover switching costs to our clients who are refinancing at your loan size.

          In terms of which is better - it will really depend on your usage patterns and intended time of staying with the lender. The ING loan is a little more expensive to set up, has a lower switching rebate and a slightly higher headline rate. It does, however, have a slightly lower annual fee and if you use the account in line with their loyalty cashback policy the loyalty cashback can help you effectively make that annual fee zero.

          If you wanted some help with setting up an ING refinance or to get some finance options, please feel free to send us a PM.

    • I just refinanced with Suncorp and have been quite happy with them so far. Has offset and I think unlimited redraws but haven't used the redraw.If you don't care about offset there is an offer from HSBC for 3.99% (4.01% comparison).

      • Did you refinance when Suncorp was running their Home Package Plus promotion? It was extremely popular with us at the end of last year and early Jan.
        With respect to HSBC, you're right about the pricing being pretty competitive for a loan with no offset. We suspect that this product, however, will appeal to people borrowing around $350,000 (or more) who are seeking a loan with an offset account. The savings from the low headline rate, the offset functionality and the industry accolades make this product a standout in its category at that kind of loan size.
        Hope this helps.

  • +1

    im with CUA and cant fault them…..yes i pay a lil more (4.67% for my investment loans) but i get offset account…(paid $195 in total to refinance) and they have a long history…..these "minnows" are too risky for me….if the shit hits the fan and i say it will eventually (how long is a piece of string) you will see a lot of these guys fold up….better to stick with the devil you know than the one you dont

    • +2

      Hi pichka, in many respects we agree with your point about the need to assess non-cost based aspects of a deal. We update our most popular mortgage products hourly (during business hours) on our website. You'll rarely find the absolute cheapest lender being the most popular and that's because a lot of people agree with the notion of evaluating a financial relationship on a variety of levels. With that being said, this is OzBargain and OzBargainers love a deal that can save them a few bucks :) Most of the major banks at present just aren't offering bargain deals and the "minnows" who are offering bargain deals are getting their voices drowned out by the big ad dollars of such banks. Ultimately, I'm sure you'd agree, competition from the smaller lenders is probably a positive for the consumer when it comes to driving down prices across the board.
      Hope this helps and thank you for your comments.

      • At the end of May I'm coming off a 5 year fixed interest rate, and also have investment loans finishing in June all with one of the four major banks. When is the best time to start sourcing new loans to replace the existing loans?

        • Hi temporiser, thanks for the question.

          As a general rule you probably wouldn't want to leave the sourcing/evaluation of replacement loans any later than 8 weeks out from your fixed rate expiry. Why?
          a) Give yourself plenty of time to evaluate options, get an approval (if you decide something is better) and then review the loan docs associated with the offer. It'll also give your existing lender time to reply if you want them to see if they can match one of the offers you receive.
          b) Speaking from our direct experience, you (as the customer) may be able to move quickly, but lenders with really popular products (which will probably be the products you want) are notoriously slow to deal with when they have a hot promotion.
          c) Most major lenders do no favours for their outgoing customers i.e. it may take a week or two for the new lender to book a date that lines up with your existing lender's product expiry. Some lenders offer ways around this issue with outgoing lenders - but you wouldn't want to limit your pool of options unnecessarily.
          d) Conditional approvals are typically valid for 3 months & can be extended out to 6 months or more depending on the lender valuation policy. This means that if you're the kind of person whose schedule can go from quiet to busy in a flash, any efforts you put in ahead of time aren't necessarily all for nought due to short loan offer expiry periods.

          If you'd like some assistance with the process please feel free to send us a PM as it'd be our pleasure to be of service.

          Hope this helps.

  • +1

    absolutely….the little guys have to keep the big guys honest

    i think once the market dies…..rates will drop….i see official rates being 1.5% by end of yr and 1% or lower by mid next yr especially if some big event happens and their are early signs something big is brewing…..cash is king atm

    • +1

      Interested to know more. Can you post some links?

  • +1

    Just finished moving loans to Newcastle Permanent through Naritas and although the process took longer than expected I was very impressed with both Naritas and NPBS' customer service.

    • Hi Colblair, thank you kindly for the positive and constructive feedback.

      NPBS is one of our more fastidious lenders - so congrats on getting approved :) Often we find that their fastidious approach leads to slower approval times (especially when they run promotions). If you ever experience any issues with them moving forward please do not hesitate to CC us into communications as we're always happy to go that extra mile for our clients.

      Lastly, thank you for choosing Naritas to assist with your needs and best of luck with the loan :)

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