Home + Land Loan

bhunter101 on 14/08/2016 - 12:44

Hi guys,

I know we have had few posts regarding this. But the main purpose for this is to get some more idea about recent changes to the RBA rate dropping and to see if there are some good loans to go for.

I'm trying to get around $500k loan.

I have got a broker and he's pretty flexible to get me loan from anywhere I think.

Also, I need the offset account facility and/or redraw facility.

Please don't talk about interest rates. Make this post clear by using the COMPARISON RATES instead so other applicants can get more idea as well.

Any brokers or bankers here can comment with the best offer they're running as well. Or a price beat.

Financial

Comments

  • usmanyousaf on 14/08/2016 - 17:37

    I am moving to loans.com.au
    They have pretty good rates.

    • bhunter101 on 14/08/2016 - 21:53

      Can you provide more details?

      • usmanyousaf on 14/08/2016 - 22:05

        visit loans.com.au
        I recommend you to browse the website & use chat service if you have any question.

  • Keen Bargain Hunter on 14/08/2016 - 22:35

    just of interest where are you thinking of purchasing your house and land package?

  • spider man on 14/08/2016 - 23:14

    i am planning to move, reduceloans.com.au

    • bhunter101 on 15/08/2016 - 17:50

      What deals do they have?

      • spider man on 16/08/2016 - 11:17

        www.reduceloans.com.au
        inters rate, 3.35% Pa

        • userblocked on 16/08/2016 - 11:36

          spider man, have you talked with anyone at reduceloans?

        • Looking4Bargians on 16/08/2016 - 11:53
          +1

          @userblocked: I was looking for reduceloans but few of my friends has warned me against any very small or new lenders just based on their credibility and if they get busted.. you won't have ur offset money..all gone.,..

          A spokeswoman for Consumer Affairs Victoria said that if your mortgage provider is going into administration or liquidation, your mortgage can't be called up - that is, they can't ask you to pay the remainder of your loan in full.

          "Consumers with existing mortgages are obliged to continue their repayments according to their contracts. If your home loan has a redraw facility, it may not be available should your company enter administration or liquidation. This is because there may be no funds for consumers to redraw against.

          http://www.yourmortgage.com.au/article/what-to-do-if-your-le…

        • userblocked on 16/08/2016 - 12:47

          @ozyboy: so that's in favor of borrowers, right? just not to put fund in offset.

        • Looking4Bargians on 16/08/2016 - 12:58
          +1

          @userblocked: that's right..but without offset or redraw..you are not doing any favor to yourself.

        • spider man on 17/08/2016 - 08:36
          +1

          @userblocked:
          Not yet but its good to read Ozboy comment

  • dasher86 on 15/08/2016 - 07:11
    +3

    You do realise that comparison rates need to have the same criteria to be compatible right?

  • oscargamer on 15/08/2016 - 09:32

    ingdirect

    we have a loan, and an offset account (with a decent amount in it) with them

    run up our bills on CC and then pay them off every month

    that way the offset works hardest

    cash from ATM's is free also

    • Looking4Bargians on 15/08/2016 - 09:56

      +1 for ING
      %3.9 comparison rate

      • bhunter101 on 15/08/2016 - 18:37

        Does ING direct do construction loans?

        • oscargamer on 16/08/2016 - 13:58
          -2

          ask them - i'm not your mum

        • bhunter101 on 16/08/2016 - 20:31
          +1

          @oscargamer: mate don't be rude. I'd rather u not reply to my bloody post. I've confirmed they only do land loans.

  • bhunter101 on 15/08/2016 - 18:20

    The broker advised to get a packaged loan from ANZ. Fixed for land and variable for building. As they think the rates will have movements that's why all the banks are offering the low fixed rates.
    Also the packaged loan will be 3.95%

    • wils420 on 25/08/2016 - 22:48

      Im in the same situation. Broker suggesting ANZ with 3.95% rate. Just repeating really what you are saying but yea makes me think to go with it still have 80plus days before settlement.

      • bhunter101 on 26/08/2016 - 21:11

        Thanks for the reply. I think I'd stay with ANZ as well. My current mortgage of my first home is with them too

  • Mkr on 31/08/2016 - 13:46

    Mate PM me if you can. My broker in Truganina can offer about 3.6 comparison (depending on your situation ofcourse) for house and land.
    All the best.

    • bhunter101 on 31/08/2016 - 18:15
      +1

      Provide more details of the loan here plz. This forums are meant to be beneficial for others as well.

  • Mkr on 31/08/2016 - 18:34
    +1

    Here you go. All the best.bank of sydney may not be the most competitive for house and land but try speaking to the broker.

    https://www.ozbargain.com.au/node/262516

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