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Owner Occupied 2 Years Fixed Home Loan - 1.79% (60% LVR) & 1.84% (80% LVR) @ Bank SA

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Owner Occupied 2 Years Fixed Home Loan - 1.79% (60% LVR) & 1.84% (80% LVR) @ Bank SA
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Store Repfootyboy @ Blue Owl Finance on 08/03/2021 - 09:29 banksa.com.au (582 clicks)
Last edited 29/05/2021 - 03:05 by 2 other users

From 09/03/2021 St George/Bank Of Melbourne/Bank SA are dropping their fixed and variable interest rates;

Fixed 2 years - 1.79% (comparison 3.43%)
Fixed 3 years - 1.88% (comparison 3.35%)
Fixed 4 years - 1.89% (comparison 3.21%)

Basic variable (with redraw, no offset) - 2.49% (comparison 2.51%)

Rates are for LVRs below 60%, add 0.05% if between 60-80%.

Annual fee $395.

Remember the $4,000 cashback ends 30th May 2021. Terms;

For new Owner Occupier (P&I repayments) and Investment loans. Available on our Advantage Package home loans, with a $395 annual package fee and Basic home loans (no annual fee). $250k min loan per property refinanced. Excludes refinances from within Westpac Group. Apply by 31 Mar 2021, and settle by 30 June 2021. Only 1x $2k cashback per property refinance will be paid regardless of the number of loans involved. Only 1x $2k bonus cashback will be paid for the initial application regardless of the numbers of customers, properties or applications involved with a maximum LVR up to 80% at time of approval.^

Mod: Removed duplicate from title. Broker details at the end of post only.

I know this won't appeal to everyone, however I don't offer broker cashbacks. There are brokers on OzB that do offer cashbacks.

I am a St George Priority Broker - which means time to approval is less than halved and my refinance clients have enjoyed 100% approval rate.

Hope you find this useful,
Aidan
Owner & Mortgage Broker
[email protected]
www.blueowlfinance.com.au
0412378146
Link to my calender - https://www.blueowlfinance.com.au/bookings-checkout/consulta…

ABN 27 646 433 374 | Certified MFAA Member 230928 | Australian Credit Licence number 384704 | Credit Representative’s number 527699

Financial Home Loan Loan

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closed Comments

  • syaugi on 08/03/2021 - 09:40
    +1

    interested.
    there is any offset account with that rates ?

    • cptzz on 08/03/2021 - 09:44
      +1

      You might pay the annual package fee (300 - 400) to get offset account just like other major banks do.

      • cptzz on 08/03/2021 - 09:48
        +1

        My bad, forgot it's fixed loan so generally no Offset.
        I think only major bank is ANZ offering Offset with Fixed loans, plus some smaller lenders.

        • Store Repfootyboy @ Blue Owl Finance on 08/03/2021 - 09:55

          ANZ will do 1 year fixed with offset.
          Outside that, Adelaide Bank do a great fixed with 100% offset at 2.05%. Annual fees only $180.

        • tunzafun001 on 08/03/2021 - 10:21

          Teachers Mutual Bank, Community First, Easystreet (no annual fees), then Adelaide Bank, ANZ all do fixed loans with 100 % offset.

      • Store Repfootyboy @ Blue Owl Finance on 08/03/2021 - 09:55

        Annual fee $395 applies.
        Thanks,
        Aidan

    • Store Repfootyboy @ Blue Owl Finance on 08/03/2021 - 09:45

      Hey syaugi,
      There are no offset against St George fixed loans. You may want to look at 'splitting' your loan into two, one part fixed, one part variable with an offset.
      Hope this helps,
      Aidan
      0412378146

      • syaugi on 08/03/2021 - 18:33

        do you know about new rates from Macquarie ?
        im with macquarie now and just finished 1 year fixed.
        they offered me new rates 2.05%, but i need to pay $7K to get my LVR 80%
        what are you reckon ?
        can i refinance to you or what ?

      • DingoBlue on 08/03/2021 - 22:34

        Actually it has partial offset.

      • jag007 on 05/05/2021 - 02:33

        Does st george 3 year fixed loan interest rate is same or It has been changed. Please let me know if there is good option for One part variable and other part is fixed for st george, westpac or any other bank.

        Thanks

    • Obtain Finance on 08/03/2021 - 09:45

      Fixed rates generally don't have offset accounts, aside from a few select lenders. Having said that you can consider splitting part of your loan with a variable rate, linked to an offset account.

  • cyrax83 on 08/03/2021 - 09:44

    Would you advise fixing now or staying on variable?

    • Store Repfootyboy @ Blue Owl Finance on 08/03/2021 - 09:47

      If you're comfortable to pay these rates and lock in for the next 2-3 years, these are market beating offers.
      Think of it as an insurance policy that guarantees no rate changes over that period.
      Hope this helps,
      Aidan
      0412378146.

      • cyrax83 on 08/03/2021 - 09:47
        +1

        Thanks. Recently with StGeorge and have variable interest rate of 2.62% and 2.89%. Should I be asking for a better deal?

        • Store Repfootyboy @ Blue Owl Finance on 08/03/2021 - 09:54
          +4

          100%. If you think you can get a better deal, you should be asking for one.
          Thanks,
          Aidan.

    • Obtain Finance on 08/03/2021 - 09:48

      Hard to predict, although it seems that some of the rates on bond yields seem to be spiking and the RBA term funding facility which underpins most of these fixed rates won't be around forever.

  • SAU on 08/03/2021 - 09:49
    +2

    hey. I just fixed mine with St George on Friday for 4 years at 1.94% =( Nobody said that rates will be reviewed just 2 business days later. Am I eligible to request a lower rate?

    • Store Repfootyboy @ Blue Owl Finance on 08/03/2021 - 09:52

      Hey Sergey,
      It will be the rates at the time of application, will need to start again if you wanted the lower rates.
      Hope this helps,
      Aidan
      0412378146.

      • bargain-lover007 on 08/03/2021 - 10:20

        What if the rates revise between date of application and settlement ? Which of the rates will apply ?

        • cptzz on 08/03/2021 - 10:57
          +1

          Whatever the number is showing on the contract you will sign.

    • cptzz on 08/03/2021 - 09:55
      +1

      And nobody forced you to signup 4 years contract. Do you think it's bank's obligation to tell customers any unforseable rate review? But I guess you can try to contact them to see what they can do as a good gesture.

    • ndenham on 08/03/2021 - 11:19
      +1

      Unless your LVR is below 60% you still have the lowest rate…

      • DingoBlue on 08/03/2021 - 22:52

        Correct, the 4 year hasn’t actually changed.

  • Jettblack on 08/03/2021 - 09:53
    +1

    Call him tel:0412378146 then post back here

    • Store Repfootyboy @ Blue Owl Finance on 08/03/2021 - 09:58

      What would you like to know @Jettblack?
      Aidan.

      • Jettblack on 08/03/2021 - 11:45

        If he got the rate changed , but I see now I didn’t reply to his post

  • edshays on 08/03/2021 - 10:11

    I almost went 3 years with St George at 2.24% 10 months ago. Decided to go 1 year as I am very cautious about fixed rates. Glad I only went one year.

    • Store Repfootyboy @ Blue Owl Finance on 08/03/2021 - 10:13

      Thanks @edshays, however from another perspective, at 2.24% you're still way below variable rates.
      Thanks,
      Aidan
      0412378146

  • T59047 on 08/03/2021 - 10:13

    Hi, I am currently with Westpac at 2.29% flexible. I think even without the cashback it is still attractive. Is there any fee in refinancing?

    • Store Repfootyboy @ Blue Owl Finance on 08/03/2021 - 10:14
      +2

      Hey T59047,
      To be honest, I'd call Westpac in 24 hours as they will offer the same from tomorrow 😊
      Thanks,
      Aidan

      • Pindone on 08/03/2021 - 13:06

        Why are things changing tomorrow?

        • Store Repfootyboy @ Blue Owl Finance on 08/03/2021 - 21:06

          New rates start tomorrow.

          • Pindone on 08/03/2021 - 21:13

            @footyboy: Is that with you or everyone?

            • Store Repfootyboy @ Blue Owl Finance on 09/03/2021 - 06:29

              @Pindone: Everyone. I do get priority turnaround time, which halves the queue wait.

      • T59047 on 27/04/2021 - 13:11

        Hi Aidan,

        Is Westpac offering 1.79% for 2-yr fixed rate? If so how do I get that? The website only says 1.89%.

  • edshays on 08/03/2021 - 10:16

    Those currently fixed, call your bank to check your break costs. Might be lower than expected and the break cost might be paid off by the new rate savings.

    Also, Ubank are doing 1.75% for three years.

    • Store Repfootyboy @ Blue Owl Finance on 08/03/2021 - 10:20

      @edshays you are correct on all accounts!
      UBank no fees and lower rates, however no $4k. Depends which you want the most.
      Thanks,
      Aidan.

  • Officewalks on 08/03/2021 - 10:30

    My fixed loan with other bank expires some day in May. can i apply this month, and execute in May for cash back?

    • Store Repfootyboy @ Blue Owl Finance on 08/03/2021 - 10:34

      Hey Bryankim,
      Yep. Application must be in by 31st March 2021 and settle by 31st June 2021.
      [email protected]
      0412378146

  • Frozensage on 08/03/2021 - 10:39
    +1

    Fixing more than 2 years is pretty risky. Apt can happen in 2 3 4 years. Don’t wanna be stuck with the loan if your life changes and you had to sell your house.

    • Store Repfootyboy @ Blue Owl Finance on 08/03/2021 - 10:42

      Good comment @ Frozensage and should be taking into consideration when fixing for long periods.
      Aidan.

  • Stalker on 08/03/2021 - 10:49
    +1

    Was actually going to lock in 4 years at 1.94% later today! Thanks OP, I will wait until tomorrow to make the call. :)

    • Store Repfootyboy @ Blue Owl Finance on 08/03/2021 - 10:51

      @Stalker Welcome!
      I look forward to it 0412378146 or [email protected]

  • mutexing on 08/03/2021 - 10:57
    +1

    Could OP shed some light on investment loans? PI and IO what's the rate & cashback available?

    • Store Repfootyboy @ Blue Owl Finance on 08/03/2021 - 11:01

      @mutexing - sure can!
      Investment P&I under 60% LVR 2 Year Fixed - 2.19% (3.94% comparison)
      Investment IO under 60% LVR 2 Year Fixed - 2.39% (4.20% comparison)

      Add 0.05 if LVR between 60% and 80%.

      $4k cashback applies here too

      [email protected] or 0412378146

  • GreenRomeo on 08/03/2021 - 10:59
    +1

    Are the lower interest rates only for fixed 2+ years? I'm after fixed 1 year.

    • Store Repfootyboy @ Blue Owl Finance on 08/03/2021 - 11:08
      +1

      Hey @GreenRomeo,
      1.94% for 1 year fixed (comp 3.51%)
      $4k applies here too.
      [email protected]

      • Swisshardy on 08/03/2021 - 11:18
        +1

        Is the 1 year fixed rate for St George only or does it apply to Westpac as well @footyboy

        • Store Repfootyboy @ Blue Owl Finance on 08/03/2021 - 11:54

          @Swisshardy Wesptac is the same, however they only offer $3k cashback.

          • Val on 08/03/2021 - 12:50
            +1

            @footyboy: @footyboy, My fixed lian will expire in early May with Westpac. Are these rates and cashback still applicable if I am refinancing to either St George / Westpac?

            • Store Repfootyboy @ Blue Owl Finance on 08/03/2021 - 16:59

              @Val: No they are no unfortunately.
              Aidan.

  • PeppaCat on 08/03/2021 - 11:31
    +1

    Does anyone know when ANZ will cut the rate?

    • Store Repfootyboy @ Blue Owl Finance on 08/03/2021 - 11:38

      Hey @PeppaCat - no announcements as yet.

      • PeppaCat on 08/03/2021 - 11:42
        +1

        Yeah, someone said ANZ will reduce rate in 2 weeks.

        • Store Repfootyboy @ Blue Owl Finance on 08/03/2021 - 12:14

          Source?

  • Parksy on 08/03/2021 - 12:57
    +1

    Do we have to take the credit card included in the package?

    • Store Repfootyboy @ Blue Owl Finance on 08/03/2021 - 13:38
      +2

      Absolutely not!
      Any bank that tells you do need this is just trying to up sell you.
      [email protected]

  • baron33 on 08/03/2021 - 15:16
    +1

    do you know the rate for 1 year fix?

    • Store Repfootyboy @ Blue Owl Finance on 08/03/2021 - 15:40

      1.94% and the $4k applies on this loan type.
      [email protected]

      • robbiecau on 09/03/2021 - 15:45

        the 1.94% 1YR rate AND the cashback applies for existing St George customers ? or just the rate ?
        I currently have a variable offset and looking to split to 1YR fixed and retain a variable offset package at a better rate then current.

        • Stalker on 10/03/2021 - 21:10

          Don't think existing customer are eligible for the cashback mate. I just pulled the trigger on moving part of my existing variable loan balance to fixed for 2 years at 1.89% and there was no mention of cashback, etc. I may have been able to push harder on the rate given that 1.79% is being advertised for new customers, but I'm pretty happy with 1.89%. I also could have taken up an offer for 4 years at 1.94%, but decided against locking in for that long. Even better, my remaining discounted variable rate of 2.69% is now irrelevant for the next 2 years as I have enough offset to cover that balance. :) Good luck!

  • furythree on 08/03/2021 - 16:13
    +1

    Would this be available to existing customers

    • Store Repfootyboy @ Blue Owl Finance on 08/03/2021 - 16:58

      Yes.

  • Goldsmen on 08/03/2021 - 16:19
    +1

    What is best fixed term that allows additional repayments?

    So far I got CBA 1.99% and $10,000 additional repayments. Does anyone offer more than $10k extra A year whilst offering anything under 2% fixed for 4 years?

    • Store Repfootyboy @ Blue Owl Finance on 08/03/2021 - 16:58
      +1

      Look into having 2 x fixed loans, double your capacity to pay extra.
      [email protected]

    • Stalker on 10/03/2021 - 21:13

      FYI - I was advised today that St George allow up to $30k extra repayments into their fixed loans over the term of the loan. 4 year rate I was offered was 1.94%, but I went with 2 years at 1.89%.

  • DingoBlue on 08/03/2021 - 22:37

    Would you be able to get the rate lock fee waived?

    Do they charge the fee if rates haven’t changed when you settle

    • Store Repfootyboy @ Blue Owl Finance on 09/03/2021 - 15:13

      Hey DingoBlue,
      Rate lock fee can't be waived and they charge it regardless.
      Aidan
      [email protected]

  • Onapski on 09/03/2021 - 22:28

    What if refinancing and the current amount is less than $250k, can you ‘borrow’ the minimum amount ie:$250k (will have to split allowing extra repayment)
    Extra complication is that I’ve split some of our loan to allow debt recycling and not sure if that part of the loan could be retaining without contaminating it.
    Feel like the cashback is worth looking into the changeover at this stage.

    • Store Repfootyboy @ Blue Owl Finance on 12/03/2021 - 18:01
      +1

      Yes.

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