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Bank of Sydney 3.54% Interest Rate or ING 3.67% Interest Rate with $500 Upfront Rebate (O/O)

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Bank of Sydney 3.54% Interest Rate or ING 3.67% Interest Rate with $500 Upfront Rebate (O/O)
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AssociatedLRomka @ bosbroker.com.au on 25/08/2016 - 15:56 files.ozbargain.com.au (261 clicks)
Last edited 25/08/2016 - 16:19 by 1 other user

Hi all

I am a mortgage broker and have for you here a couple of deals which may be of interest for owner occupier loans for which I offer a $500 upfront rebate.

The Bank of Sydney deal of 3.54% interest rate is applicable to owner occupiers on principal and interest repayments only.
There is no loan application fee and the package fee is waived. This product also includes a 100% offset facility and a credit card.
This applies to new applications only in metro Melbourne, Sydney and Adelaide.

The other deal is for an ING orange advantage product which carries with it a 3.67% interest rate. This is available to both interest only and principal & interest repayment options. There is a loan application fee of $299. The annual fee of $199 is waived in the first year and you get a transaction account with this package.

Please contact me for more information on these deals or any others (with potential cashback and rebates associated with them)

Credit Representative Number: 483668

Financial

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  • Moderatorneil on 25/08/2016 - 15:59

    Please list your:

    • Australian Credit Licence number
    • Name or Name of Business
    • Contact Details (email or phone)
    • dasher86 on 25/08/2016 - 16:00

      OP may also need to list the comparison rate…

  • revivor on 25/08/2016 - 16:12

    Watch out for big turn around times for ING!! Due to their low interest rates, everyone in Aus is prob switching to them.

    I had to switch banks in my 8day cooling off period as ING could not provide unconditional approval for my loan in time!!
    Went NAB instead which I had unconditional in <5 days with similar rates!

    All good if you are refinancing. Not for new loans.
    Just sharing my experience.
    Btw UBank has better rates.

    • AssociatedRomka @ bosbroker.com.au on 25/08/2016 - 16:16

      ING times are 20 days to get the loan settled currently

      Can offer deals with other institutions depending on personal requirements and what best suits each scenario

    • chewkl on 25/08/2016 - 16:19

      Are you saying you have managed to get a 3.67% rate with NAB? I am with them at the moment and trying to renegotiate my current loan but the best I could get is 4.17%.

      • revivor on 25/08/2016 - 16:21

        I manage to get 3.74% which was fixed 2yr s.

        • AssociatedRomka @ bosbroker.com.au on 25/08/2016 - 18:52

          Well that is not a comparable product as you pay rate lock fee, there are no extra repayments and there are many disadvantages of a fixed rate loan

      • [Deactivated] on 25/08/2016 - 22:21

        Owner occ or investment. I will be able to get some better rates for you.

        • chewkl on 26/08/2016 - 07:26

          Owner occupied, have been with them for the last 3 years, 100% offset choice package.

      • thydzik on 26/08/2016 - 11:46

        depends on the loan amount and LVR.

        there is a good thread here which discusses current rates and discounts
        https://www.propertychat.com.au/community/threads/whats-you-…

    • relicsinner on 25/08/2016 - 16:26
      +1

      It is indeed an awesome if you got 3.67% with NAB. I am looking for a new loan and was only offered Comparison rate of 3.96%. Do share your tactic to get it down to 3.67% !!

  • punkman on 25/08/2016 - 16:15

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

    how is it better than this?

    • AssociatedRomka @ bosbroker.com.au on 25/08/2016 - 16:18

      I offer an upfront rebate instead of a trail commission where you will be waiting for months until you receive an equivalent amount

      • ykwon10 on 25/08/2016 - 16:37
        +3

        while Naritas is offering $1500 cashback?

        • nmartin84 on 25/08/2016 - 17:56
          -1

          Exactly. Even as an upfront cashback $500 is poor.

        • tomleonhart on 25/08/2016 - 18:05

          I'll match Naritas deal just for you ykwon :P

        • ykwon10 on 25/08/2016 - 19:42
          +1

          @tomleonhart: lol!! If only i have another house to mortgage on..

        • tomleonhart on 26/08/2016 - 05:45

          @ykwon10: keep that offer until you refinance next time :P

    • [Deactivated] on 26/08/2016 - 12:04

      Thanks Punkman

  • punkman on 25/08/2016 - 16:22
    +5

    .22% trailing commission on a $400k loan will be ~$880 in the first year, much more than the $500 up front

    What would you choose?

      • punkman on 25/08/2016 - 16:31
        +8

        You understand this is a bargain site, and cheaper is better in this community.

        The same bank the same loan the same facilities… More back in the first year multiplied by every year you have the better loan…

        Not bagging. Highlighting this is not a very good deal… A Neg

        • AssociatedRomka @ bosbroker.com.au on 25/08/2016 - 16:36
          -1

          No worries

          Thank you for your feedback

          I do still maintain that a trail commission is a variable and is not a definite - ie. the broker leaves their aggregator = end of agreement and no trail and whatever people are comfortable with is what they will go with

  • patsfromadelaide on 25/08/2016 - 16:39

    I have a question on this please .. What happens after the offer ends ?

    what rate does the interest fall to for the term of the loan ?

    Are there any conditions if you switch to this offer you have to stick to it and cannot change it to another offer?

    what are the exit fees etc?

    any other hidden charges please explain

    • AssociatedRomka @ bosbroker.com.au on 25/08/2016 - 16:41

      The offer is a discount on the standard variable rate with Bank of Sydney and this discount remains for the life of the loan. The only time this changes is if the bank increases their standard variable rate.

      The exit fees are the loan discharge and legal fees so will be in the range of around $400-$500

  • odh on 25/08/2016 - 16:40

    What is your best deal for the non-owner occupied (investment) and 95% LVR? Property is in Brisbane.

    • [Deactivated] on 25/08/2016 - 22:19

      4.28% with CBA

      • Soluble on 26/08/2016 - 08:31
        +1

        Im currently 4.13 with CBA on investment loan and 3.86 on owner occupied loan.

        • [Deactivated] on 26/08/2016 - 12:03

          Smashing rate with CBA!

        • Smaland on 26/08/2016 - 21:24

          @Soluble do you mind share how did you get those rates? how big your loans with CBA?

        • Soluble on 28/08/2016 - 08:49

          @Smaland: I didn't realise it was that good until now haha. For me I had my owner occupied loan at 95% LVR. For the investment loan I owned the land so I think it ended up being around 70% LVR, 80% between the 2.

          When that was finished building I researched rates and asked CBA how much to leave and the rates have been reducing ever since.

          I figure it's all to do with the property prices increasing, hinting at leaving, possibly not using a 'middle man' and additional payments on the owner occupied reducing risk..

  • NWLikeShopping on 26/08/2016 - 09:29

    OK, how about your best deal for owner-occupied 95% LVR regional NSW (Goulburn, Tarago, Picton, Londonderry areas)?

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