Home Loan with line of credit for refinancing

dw121212 on 18/10/2018 - 19:31

I’m with cba currently seeking a better deal for a home loan, however it must have a line of credit attached.

I’m paying 3.92% now with discount and a $395 fee p.a.

Has anyone seen better offers?

Comments

activ8newbs on 18/10/2018 - 20:02

3.69 NAB
3.65 BankofAus
3.99 3 year fixed Auswide
4.09% 5 year fixed Newcastle permanent
AusGP on 18/10/2018 - 20:06

What's the line of credit used for? What profession?
zonra on 18/10/2018 - 21:03

I'm assuming you want fixed?
I've recently refixed with ANZ for 2 years @ 3.75% (with $395 annual package).
Also worth checking if they have any rebate offer if you're refinancing from other banks.
drprox on 18/10/2018 - 22:00

The trick is retaining the line of credit. It's harder these days to get this put in place without clear purpose.
bobbified on 18/10/2018 - 22:23

however it must have a line of credit attached.

Would an offset account on a loan refinance serve the same purpose as a line of credit? ie, borrow the max you can and put your "excess" equity into the offset account so you can redraw on it whenever you like.
kingsville on 18/10/2018 - 22:26

Instead of a line of credit, can you just have a split loan amount?
This means that you can have a clearly identifiable debt that you use for investing (i.e. shares) that only pays home loan interest rate.