Was lurking on the internet and found this so I thought I would share. Basically you get a free vacation when you apply for this
300,000 Qantas Points for Eligible Home Loan over $300,000 @ ANZ
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Which aren't competitive generally.
3.63% p.a. / 3.67% p.a. comparison rate
ANZ Simplicity PLUS Home Loan with special interest rate (owner occupied when borrowing less than 80% of the property valueSuperscript:4)
*Not sure if this is pre or post yesterdays rate cut.
My offset account with a different bank is 3.87%.
The benefit I have is unlimited offset accounts. Anyone know if ANZ do the same thing?I am on 3.66% with 100% offset on breakfree package. As ANZ is passing full cut, it will be reduced to 3.41% from 12 July.
If you are seeking more than $500k, you should be able to get further discount of 0.1% so essentially 3.31% variable(Principal+Interest) on owner occupied property.
@DocC: Mine is just shy of $500k so couldn't get extra 0.1%.
I rang them recently before 1st rate cut and asked for better rate. They dropped me from 3.95% to 3.85% so I got 3.66% after rate cut.
@DocC: Did you just call the call center and ask for a better rate or did you threaten to leave or? Would love to get a better rate!
@AskingForAFriend: You can call the ANZ rate review team direct and sidestep the bank manager (who repeatedly said it was the best he could do). Their number is 1800 812 179. I just say I would like my rate reviewed please. IMHO don’t threaten just ask. If it doesn’t work for you then move.
After review it will take rate on 12 July after including second rate cut to 3.37% variable on break free with offset. I realize cheaper is out there but other features work for me now.
@DocC: I asked bank manager as i am getting a 1.61% discount on their advertised rate, which works out to be 3.57% currently, but down to 3.32% after ANZ pass on the rate drop tomorrow.
Bank manager tried to get 1.7% discount but it was apparently rejected.
Seems like its OK , although there are definitely better deals out there.
Still in two minds of going to a broker to see if i can get a better deal/@brendenkoh: I spoke with their pricing team today and I was able to get further 0.05% discount. My total discount is now 1.57% which makes rate of 3.36% after latest RBA cut.
@Ash-Say: Mine should be at 3.48 with nab offset
But I know others have got about 3.40 with strong bargaining power@Splashtash: Nice price. Mine will only be 3.53% (another big 4 bank) after the recent second cut comes into effect. But I don't pay any fees and have 100% offset. So that should make up for it.
I'm interested in the unlimited offset accounts. Which institution are you with?
Sadly no, they don't offer more than one offset account linked to a single loan. I was hounding them years ago for this.
Pre, cut comes into play 12 July
Possible to get ~0.3 lower with the same features with other lenders.
When you want offsets etc.. the gap gets bigger
That’s a lot of Hoff
Not worth the hassle
Insert picture of 'David Hasslehoff' here
Look up.
Just to apply or actually move mortgage over
After settlement you as the primary applicant can apply for the 300,000 Qantas Points. They'll land in your pocket within 90 days.
Ah thanks
Thanks OP, took out 10.
But no upvote? :)
On your way to Centrelink?
I wonder how long they would give you before they expire 🤔
QFF points doesn't expire as long as you continue to earn QFF point, even if its transferred from Woolies or some other place.
If you don't earn any points, then all your points will expire 2 years after the final time you earnt points.
QFF is actually 18 months of inactivity - it's Velocity which is 2 years.
Refinance loan eligible?
Thanks so it's new loan or new purchase property only. Oh well..
Geez, they're really getting needy aren't they. Never thought I'd see a bank offer such competitions to entice customers.
I think NAB had a similar Qantas offer a few years ago, maybe 3 years ago?
Uh, that's the answer to "I already have a home loan with ANZ, can I get in on this offer?". Generally refinancing implies moving from one bank to another, hence taking out a new loan with the second bank - so you should still get the points. (Double check directly with them though!)
@f4te - correct. Refinancing from another lender to ANZ makes you eligible. Confirmed with ANZ Bank this morning.
todays Age has an entire front cover wrap around advertisement for this
Aren't you from Brissy?
I have all the broadsheets delivered
@ ANZ
Not a good deal for Christians
What?
ANZ are anti-Christian. Just ask Folau.
That would be right.
A bank - one of those institutions that was found to be morally bankrupt, criminally exploitative, and avaricious beyond belief - has attacked Israel's wife for supporting her husband.
I wouldn't take a loan with them if they offered 10 million frequent flyer points.@Almost Banned: 10 mil is like 100 times around the world in First Class, that's pretty much the next 30 years of trips done man.
@jaygee: According to this: https://www.ausbt.com.au/how-to-plan-and-book-a-round-the-wo… ten million points would be 22 First Class round the world flights.
Be careful if your account contains 666.
People with mortgage are tightening up their budget and cut down spending, knowing a storm is luring ahead.
The solution: give points coming with the mortgage to incentivise spending.
Not bad (for the bank).
Most people are suffering a mass delusion, where spending incentive programs work, but in their case it doesn't, because they have magical powers that the other people it works on don't have.
the sceptic in me was thinking the same kinda thing - encourage spending on a holiday somewhere that wont be coming off the mortgage, the bank reaps the retained interest ;-)
It's basically $3000 cashback if converting it to cash. So it's a decent deal if switching loans. Covers the fees associated with moving.
Isn't refinance eligible though?
Dunno.
Nope
$3,000 = $300,000 / 12 months * 3 months * 4%
(assuming my bad assumptions/math)Umm why 3 months? Is anyone actually going to apply for a home loan and refinance after 3 months just to get points?
Sounds like a challenge to me
more like $1500…That $3000 figure is incorrect.
No it's not…it's only worth $1500 if you convert it to gift cards. If you sell them (not technically allowed, but rarely cracked down on), then it will fetch $3000 or so.
We use the word ‘holiday’… not vacation.
You get a holiday, the property gets a vacation
damn if i got this it would put me up to 1 million QFF
I think that's enough points to sit on the pilots lap.
No, you only get a ONE (1) free extra coffee during any eligible flight, at that level.
Only if you book it 12 months ahead.
In the Mile High Club*
Not with the Qantas points devaluations ;)
Im at 5500
Basically get a shit rate on your house and forcefully take a vacay lmao
Sell 300k points for 3k cash. Still good deal if you don't care about holiday.
how and where do you sell QFF points?
You must be new to ozb. Check the beloved local classified forum for details.
Buy and flip for the points?
won't be worth it, cash value of qff is bad
Any deals on a house to go with this?
I just submitted all documents to NAB yesterday, Can ask them to hold, And try ANZ?
Can ask them to hold, And try ANZ?
Nah post on Ozbargain first.
I think NAB variable rate loan is the lowest available. I've being told it is around 3.54% with no monthly fees. Probably will go down to 3.4% with yesterday's RBA rate cut.
At least that's the bank I'm thinking to go with for first home buying.
Westpac couldn't match same rate despite 10 years of me as their customer.I am currently having 3.44% before the rate cut yesterday with HSBC. With offset and not monthly fee. I believe it will go down again.
That's a cracker of a deal..did u go through mortgage broker?
I think NAB variable rate loan is the lowest available
It's a safe bet that the lowest rate will never be offered by the Big 4. [Here's one right here that's a much better deal(https://www.ozbargain.com.au/node/467852) at 3.09%.
I found better. 😀
Reduce Home Loans offers 2.89% variable Owner Occupied loan
@duchy: Yeah, you think that but bear in mind that Reduce has a reputation for giving the new customers the good rates… but not passing that on to existing customers, and raising rates not long after sign up, so YMMV. Athena promises (for what it's worth - they're new and it has been true so far) that existing customers get the same rate as new customers.
I'm looking at a refinance with TicToc right now, avoiding Reduce for the above reasons. I'd rather pay a tiny bit more with the expectation that future cuts will come to me in the current market than get a little less for a few months and then find myself out of pocket.
TicToc also had $1,000 cashback when I applied, which helps, and no fees (ditto Athena), vs Reduce's high entry and exit fees.
So you might get a better deal with Reduce but it seems like a riskier bet to me :)
@ely: Fair enough. I am with Tic Toc (Adelaide Bank) myself. I chose to go fixed 10 mths ago - never anticipated the RBA to go lower than 1.5%. I was naive. It's a good choice but go variable.
@duchy: Yeah, surprised also, I'm breaking a fix to jump to tic-toc. Only 7 months to go on mind, and only half fixed, do the fee isn't too bad.
How has your experience with tic-toc been?
@ely: They've only passed on 20bp of the cut (and only passed on 20bp of the last cut), putting them only just barely ahead of Athena now (who passed on 25bp and 25bp).
Did you buy a property or get pre-approval? If you've got signed documents and are in the middle of a purchase then get the money and settle - you have a lot more at risk than a few basis points and can always refinance later.
If its preapproval - as far as I know you can get preapproval from as many banks as you want. Don't need them to hold off - just submit your papers to ANZ and see what they can do. From my experience there is also a big gap in the amount lenders are willing to lend you depending on how they assess your risk profile.
An extra $10k on the loan might mean getting a property you like, if you don't need the extra the lower rate might make more sense.
Dumb question - what's the minimum period on these loans before I take my points and move over to something more competitive?
Oh man…please please read the PDS..they will have application fees, exit fees, "you know what -i will get you if you even think of switching before 5 years fees".. this is not as easy as porting your number from Telstra to Optus..
typical ozbargainer, wants you to do all the work for them, wont even open a T&C, PDS or product summary and do some research themselves.
The internet has enabled this spoon fed group though. You get told off for not helping if you tell them to learn some research skills.
Yep!
@Redwood12
dude, can you give me a good lasagne recipe..
@mick123: I totally get doing the "get the points and bail" tactic on a credit card as it's not that risky…. but a home loan?!
(Sorry, replied to your comment mick, not directed at you!)
@Deviner: There are plenty of offers that cover your refi costs… it’s not much more difficult than 3 credit card applications. I think there will be people that will try / do it.
I’m about to refi either through Homestar @2.99% and no app costs or Athena @ 3.05%. Wouldn’t touch Reduce with a ten foot pole based on reviews I’ve seen from (past) customers. But interested in others perspectives.
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Hwow… it comes down to their rates though