Hello team,
So my lady and I (first home buyers) are on the look out for any current home loan deals. Our LVR is 75%. Was hoping there are some good deals/bankers/brokers floating around that could lend a hand. Woud appriciate any recommendations.
Also we are regular travelers, so any deals that include FFPs would be a massive bonus to us. Hoping to snag something that has some lucrative benefits.
Thanks Ozb family
if it's ppor, i'd get the lowest rate with lowest fees
no need to pay 400 a year for offset acct, as i can put everything in homeloan account and pay everything on CC then free redraw homeloan to pay off CC each month
or just redraw whenever you like on phone apps, as it's instant between homeloan and transaction acct.
That is if your home loan supports free redraws. Often they don't so you have to pick up the offset account.
Nah, they Often do, even the 'basic' HL also offer free redraw.
eg., 3.68% Suncorp basic HL
or if you want big4s, cba basic HL also free redraw
plenty offer free redraws mate.
Not plenty, just 1 that you mention from a big 4. But yes there are some offers like that out there, but they often aren't unlimited.
https://www.anz.com.au/personal/home-loans/basic-variable/
https://www.nab.com.au/personal/loans/home-loans/nab-base-va…
https://www.westpac.com.au/personal-banking/home-loans/varia…
all big4s basic variable with no annual fees, offers free redraw.
Personally I don't see a lot of point in going to a broker these days. You can find deals yourself by negotiating with the banks directly. I believe NAB is still giving out Virgin points if you sign up a home loan with them.
nego direct with banks ? only if you have huge ass loan
for small loan, you can nego w/ broker for cashback (either 1 off from the bank commission, or even monthly trails if you can fine one that willing)
The OP is buy a first home with a 75% LVR, if they are in Melb/Syd that will be a "huge ass loan".
by your standards, all 1st home buyers earn well over the aussie average wage , and able to service over 750k loan to buy Sydney $1mil average property.
To service a 750k loan these days you need about ~$800 a week, between two working adults, that is covered fairly easily.
indeed, 750k are peanuts / easy, and there are no housing affordability issue then, by your looks of it.
I'm not getting your point. Even a 400k-500k loan you'd go to a bank and get a better deal and not a broker. OP says they are a first home buyer, with his lady (which I assume two incomes) this is the world we live in in melb/syd.
You'll need to give a bit more info about your finances. Not necessarily numbers, but how you spend.
Mortgages don't exist in isolation.
For example - we have an offset account where we keep our savings. Obviously this offsets against the outstanding mortgage amount. We spend on our CC's throughout each month, and then pay them off, totally, from the offset account. Our offset therefore stays bigger for longer. Our pay goes into our offset and we can withdraw cash from ATM's from that account as well. Works for us. Depends on a lot of things. DO NOT get sucked in by the headline rate. That is often only part of the picture.