Third-Party
UPDATE: This offer has been extended for an undisclosed period of time (most likely a few business days)
A bank who we are not allowed to openly name have a limited time special for 3.99% for 3 and 5 year terms on fixed rates for both Investment and Owner Occupied home loans. On top of this they are also offering $1,500 cash back for refinances!
Another under the table offer for a 3 year owner occupied fixed rates at 3.79% is also available from a different bank, again they will not allow us to openly advise who it is but I can provide the details outside of an open forum.
Please email [email protected] to find out more about this offer. Applications will need to be received in full by the 19th April due to the limited time these offers will be available.
In the spirit of OZBargaining,we are prepared to also cover the $395 annual package fee for the length of the fixed rate period if you decide to use Cape Finance to help arrange the loan and the minimum total lend is $500k. We are top tier brokers which gives us access to faster turn around times for your application.
This means you could be eligible for:
✓ MARKET LEADING 5 year fixed rate
✓ $3,475 cash back for refinancing ($1,500 from the bank and $1,975 from Cape Finance)
✓ Annual package fee covered for the life of the fixed loan (minimum $500k fixed)
The followings terms for the fixed rate offer have been communicated:
- P&I repayments only
- Maximum LVR 95% (inc LMI)
- Cash out up to 80% LVR
- Establishment fee waived as part of member package
No comparison rate was provided however I calculated it to be 4.74% on the 5 year owner occupied fixed rate (based on $150k over 25 years) due to the revert rate at 4.60%. We always suggest a review of your banks offering close to any fixed rate maturing as this is a perfect opportunity to shop around.
We strongly suggest utilising the 'rate lock' option to secure this rate at the time of application - cost is 0.15% of the loan amount (min $500, capped at $2k for loans up to $2m). If you do not rate lock then you will be eligible for the fixed rate on the day your loan settles.
We are Perth based finance brokers and am able to service clients Australia wide FREE of charge. Note that we are not directly associated with the bank and they make up one of more than forty lenders on our residential loan panel.
Authorised credit representative 478455 of Connective Credit Services Pty Ltd Australian Credit Licence Number 389328.
And for that legal bit.. Your full financial situation would need to be reviewed prior to acceptance of any offer or product. Normal lending criteria and fees and charges apply. Terms and conditions apply and are available upon request.
NB: I tried to keep this post from being too long, feel free to shoot me a message if you have any questions.
@CapeFin: @UFO:
The rate you selected is higher during the fixed period. In fact, it is 4.44%, almost half a percent higher.
I understand comparison rates are useful for variable loans, but they don't show the lowest cost in this case. I don't disagree with your other comments, but this is cheaper.
If at the end of the fixed period, there are cheaper variable loans, switch. If there are not, stay. But it would be very foolish to lock yourself in for a higher rate for 5 years in the hope the variable rate will still be lower when the fixed period ends.
You are giving poor advice to people, and you have made a poor calculation if you are trying to compare fixed rate loans.