First Home Buyer Which Loan Package Is 'bargainer' ?

newbiesh on 01/03/2018 - 23:26

Im getting loan for my first apartment (20% deposit), i have offers from CBA, HSBC and Suncorp.(westpac short-valued my place with 40k less! )
commonwealth= 3.82% P/I with offset account BUT has annual fee.
HSBC = 3.59% with offset and no annual fee BUT has one off payment 1-2k for insurance.
suncop = 3.69% with offset and no annual fee but has monthly fee credit fee.

which bank should i go with? I do want use my equity next year sometime to buy another small property perhaps so which banks offers more flexibilities? any reviews from any banks mentioned?

thanks

p.s. my broker isnt helpful he keep telling me i should go with westpac.

Financial

Comments

  • dcep on 01/03/2018 - 23:37

    curious, what insurance on HSBC ?

    go with cba/suncorp if you want to deal with changes at latter stage

    • newbiesh on 01/03/2018 - 23:54

      mortgage insurance because of 'high density' etc.

      suncorp is ok buy dont like that $5 monthly fee they have with daily cards

      • TheButLover on 02/03/2018 - 15:15

        ask to waive the fees. Ours were and we didn't ask

  • reno on 01/03/2018 - 23:49
    +1

    how much is the loan you're taking out? the differences in rates vs the 1-2k insurance may actually net itself off

    • newbiesh on 01/03/2018 - 23:54

      300k, good point

  • [Deactivated] on 02/03/2018 - 00:28
    +2

    Have a look at cua their 3.66 with offset acc there's no establishment fee n free annual fee platinum credit card because of home loan. You can get a little better somewhere else but there's a branch near me. One downside is they use redi tellers for money withdrawals.

  • T-man on 02/03/2018 - 07:27

    How did you get 3.59% with offset with HSBC? I asked them and it it the Home Value Loan with no offset account.

  • Base Finance on 04/03/2018 - 17:41

    Are u sure the HSBC and suncorp are offset with no fees? That sounds like the no frills with redraw.

  • Ametric on 06/03/2018 - 12:42

    hey OP, try Bank of Sydney 3.64% comparison rate atm…
    https://www.banksyd.com.au/LimitedTimeOffer#

    edited, just noticed that they have changed the rules and now "Borrow up to 70% of the value of the property." :(

    • newbiesh on 06/03/2018 - 19:57

      thanks i went with CBA

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