This was posted 3 years 2 months 14 days ago, and might be an out-dated deal.

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86 400 (NAB) Home Loan from 1.85% Fixed 3yrs + 85% LVR NO LMI + $2000 Cashback

1652
86 400 (NAB) Home Loan from 1.85% Fixed 3yrs + 85% LVR NO LMI + $2000 Cashback
Go to Deal
AssociatedLen -Bundle Loans @ Bundle Property Home Loans on 08/09/2021 - 12:15 86400.com.au (3766 clicks)
Last edited 05/02/2022 - 21:26 by 2 other users
$2,000 cashback

Applies to ALL refinance or purchases – not just First Home Buyers
Owner or Investor
$250k+ loan
Offset Package product only

85% no LMI

Applies to ALL refinance or purchases – not just First Home Buyers
Owner Occupied P&I ONLY
Available on both NEAT (Basic product) and OWN (package product)
Can still do 35 year loan term for Purchases

86400 (owned by NAB) rates

Owner Occupied P&I:

2 Year Fixed Own home loan = 1.89% (2.51% CPR)
3 Year Fixed Own home loan = 1.85% (2.47% CPR)

Variable OWN home loan (with 100% offset):
2.29% pa (2.58% CPR) <60% LVR
2.44% pa (2.73% CPR) <80% LVR

Basic NEAT home loan variable (no offset):
2.09% pa (2.10% CPR) <60% LVR
2.29% pa (2.30% CPR) <70% LVR
2.34% pa (2.35% CPR)<80% LVR

Investment P&I:

2 Year Fixed Own home loan = 2.19% (2.81% CPR)
3 Year Fixed Own home loan = 2.14% (2.76% CPR)
IO fix 2-3yrs 2.39% (2.80% CPR)

Variable OWN P&I (with 100% offset):
2.59% pa (2.87% CPR)<60% LVR
2.69% pa (2.97% CPR)<70% LVR
2.79% pa (3.07% CPR)<80% LVR
IO + 0.2%

Variable NEAT P&I (no offset):
<60% LVR = 2.39% pa (2.40% CPR)
<70% LVR = 2.49% pa (2.50% CPR)
<80% LVR = 2.59% pa (2.60% CPR)
IO + 0.2%

Other lenders up to $6000 cashback - we can match any lender offer you see online or Ozbargain

$6,000 (up to) cashback PURCHASE OR REFI Citibank, fixed 2yr 1.89%, 3yr 1.99%.
$3,000 cashback PER APPLICATION - ING fixed 2yr 1.84%
$3,000 cashback refi St George, fixed 2yr 1.79%, 85%LVR no LMI
$3,000 cashback refi Westpac, variable from 1.99% no annual
and contact us for more

PLUS up to 0.4% ie $4000 broker rebate per loan (on top of bank cashback, available via broker only, not via the bank)

In ADDITION to bank rebates, we have 0.3% - 0.4% broker rebate (based on net of offset/redraw ie balance owing) for ANY bank or product. (Loans >$250k paid as eGift cards from any retailer of your choice 50/50 at 2 and 24 months after settlement).

Please email [email protected] at first instance and we will reply ASAP.
Missed calls and OzB messages may get delayed.
If you don't get email reply within 24-48hrs (some emails go into our spam), pls call us or text us.

Len
Bundle Property Home Loans
Please email [email protected] at first instance and we will reply ASAP.
T: (02) 9698 7186
M: 0422354868
ACL 445947

Mod: Removed standard cashback rate from title as per guidelines

Referral Links

Referral: random (1242)

Referrer and referee each receive $30 after referee makes 5 settled card purchases within 30 days.

Financial Cashback Home Loan Loan Rebate Refinance

Related Stores

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closed Comments

    • z00m on 08/09/2021 - 14:05
      +1

      Can you explain what this means? My brain is working slow today.

      • Duram on 08/09/2021 - 14:14
        +1

        So lets say you only owe 200K on a 600K property and want to pull out the equity for investing or other purposes they will only add an extra 100K to the original loan refinance amount.

        • z00m on 08/09/2021 - 21:43

          Thankyou!

        • chriise on 09/09/2021 - 00:52

          For this deal specifically or just in general?

  • Platia on 08/09/2021 - 13:32
    +4

    How long is this offer available for?

    • Hawkey on 08/09/2021 - 14:29

      I would also like to know this - any estimation on how long this deal will last?

      • Platia on 08/09/2021 - 14:49

        If we're assuming it's the same as the details on the 86 400 website, looks like applications are until the end of this month, to be settled by the end of November.

    • AssociatedLen -Bundle Loans @ Bundle Property Home Loans on 08/09/2021 - 16:45

      Apply by 30 Sep 21 so hurry!

  • itzSTARSCREAM on 08/09/2021 - 13:33
    +1

    What does the broker rebate mean? Is that passed on to the customer in addition to the 2k cash back?

    • AssociatedLen -Bundle Loans @ Bundle Property Home Loans on 08/09/2021 - 13:53
      +1

      yes

  • itzSTARSCREAM on 08/09/2021 - 13:38

    Does the NEAT owner occupied get the 2k cash back? Website says it doesn't.

  • boretentsu on 08/09/2021 - 14:03

    It was only until last year that fixed rates charged a premium. Now it's the other way around. The fact that they want to fix for 3 years at a rate lower than variable AND offer rebates of thousands…what are they saying about where they expect variable rates to go from here?

    • z00m on 08/09/2021 - 14:06

      Exactly

    • [Deactivated] on 08/09/2021 - 14:12

      I'd put the rebates down to them trying to steal "good" customers uneffected by covid from each other

      • [Deactivated] on 08/09/2021 - 14:20

        This. Anyone can prove their finance for re-fi is a good target market given the circumstances

    • jubified on 08/09/2021 - 14:16
      +2

      RBA cash rate target is 0.1% and they don't plan to lift it any time soon. Low rates are here to stay it seems.

    • spiff on 08/09/2021 - 15:28

      Fixed rates have been lower than variable rates for at least the last 4 years

    • SaberX on 08/09/2021 - 15:36

      I wonder what the other frees and processing charges are though that bump the CPR back up though to mid 2s%?

      • El-Rhi on 09/09/2021 - 06:34

        It’s the revert rate once the fixed term ends…. it goes back to a higher variable rate

      • Slo20 on 09/09/2021 - 06:39
        +1

        This is OP’s response from a previous post

        The CPR may be high for a few reasons:

        1. It may incl the $395 annual fee x 25 years = $9,875. This extremely high amount is included in the calc of the CPR for a relatively low $150k loan hence greatly inflates the CPR of such a small loan to make the rate appear much higher than it actually is. It is actually not a huge amount over 25 years relatively speaking (equiv to 0.1% rate difference on a $395k loan size)

        2. The fixed CPR is even higher due to after fixed period, it defaults to a higher rate with no discount. In reality, we can always negotiate a competitive discount on variable after expiry of fixed. Also customers refinance after 2-3 years and never stay for 30 years at the same bank.

        3. Smaller online lenders have low CPR but often has up $2,000 in application, valuation, legal, discharge fees (which is negligible over 25 years hence the low CPR, but you get hit at every transaction/refinance. The smaller lenders have a lower CPR as they have no annual fee, but often a large upfront/discharge fee. The CPR is a very misleading number and small lenders using a low CPR look better than larger banks even though it may be the opposite.

    • haemolysis on 08/09/2021 - 15:37

      Fixed rates aren’t the bank using a crystal ball. They don’t really indicate where the bank is hedging it’s bets. The rate is based on the cost for them to purchase money from the reserve bank, which just happens to be very low for fixed rate securities at the moment.

      If it costs them less to buy the cash, they charge you less to take it. It doesn’t mean they’re locking people in for a predicted drop later. They’re just cashing in on free government money. The reason the whole scenario is “flipped” is because we have quantitative easing, and we never had that before.

    • YTW on 08/09/2021 - 22:21

      Refinancing rates are at an all-time high. I suspect they're using fixed rates to tie their customers to them to keep the business.

      • [Deactivated] on 09/09/2021 - 23:29

        it's just based on the cost of sourcing money

  • lippy on 08/09/2021 - 14:20

    Is Common Debt Reduction factored in?

  • lookingforTV on 08/09/2021 - 14:28

    Have refinanced to ANZ August last year - but not fixed only variable - through you. Is it too soon to refinance again? If so, when can I start refinancing to take a deal like this again?

    • [Deactivated] on 08/09/2021 - 14:31
      +2

      lol, I refinanced nab to stgeorge 1 month after purchase

      you'd be risking broker cashback though if you were due some from OP

    • enigma48 on 08/09/2021 - 16:36
      +1

      I've been told (by brokers so slightly biased) that a history of frequent refinances can lead some banks to reject an application. When I asked a bit more, "frequent" seems to mean under 2 years and "a history" means 3+ refinances so while yours is "early", as long as you didn't do this in 2019 and 2018 as well, you probably don't have "a history" that banks frown upon.

      Question for you: how was Len to deal with? How was communication, were there many mistakes, etc

      • lookingforTV on 08/09/2021 - 16:37
        +2

        He was fantastic for me. I recently introduced my work colleague to him and his one has been sailing smoothly too.

  • acersaurus on 08/09/2021 - 14:41
    +2

    Cracking deal for a 3 year loan - best available. I just refinanced 9 months ago but it's very tempting. Will ponder.

    • dealbrry on 08/09/2021 - 17:21

      Looks like UBank also have 1.85% for 3 years fixed for owner occupiers at the moment too. Aside from the cashback incentives offered through this broker which are the sweetener, the main differences I can see are that UBank has an annual limit for additional repayments ($20k per year I think), while 86 400 seems to have unlimited additional repayments (someone correct me if I'm wrong). UBank is waiving it's interest rate lock fee thing currently and has no other fees, and 86 400 has the fees I copy/pasted in the comment earlier.

      Both UBank and 86 400 are owned by NAB now, and will likely merge at some point I would guess.

      • [Deactivated] on 08/09/2021 - 18:36

        Ubank doesn't do offset tho.

        • dealbrry on 08/09/2021 - 18:47

          No, does 86 400?

          • [Deactivated] on 08/09/2021 - 18:48
            +1

            @dealbrry: Yes, if you pay the annual fee.

            • dealbrry on 08/09/2021 - 18:56

              @[Deactivated]: From what I can see from their website that seems to be just for variable, not fixed? Pasted below

              Own Variable loans

              100% interest offset on multiple Pay and Save accounts
              Unlimited additional repayments
              Redraw available – Lets you access any extra loan repayments you’ve made

              Own Fixed loans

              Make up to $20,000 additional repayments per fixed term
              Redraw available – Lets you access any extra loan repayments you’ve made
              Choose to rate lock for 90 days (fee applies)

              • dealbrry on 08/09/2021 - 18:59

                @dealbrry: (Re my initial comparison it looks like I was wrong re additional repayments, they both have 20k per year limits for fixed term)

                • leonardr on 08/09/2021 - 19:14

                  @dealbrry: Doesn't "per fixed term" mean the entire term, eg 1-3 etc years?

                  • dealbrry on 08/09/2021 - 21:07

                    @leonardr: Oh yes, it looks like you’re right. I thought UBank used to be 20k per year, but it looks like it’s also 20k max over the fixed term. I wonder if you can do a fixed term/variable split to give yourself more flexibility with repayments (or with 86 400 as offset)

              • [Deactivated] on 08/09/2021 - 19:45

                @dealbrry: I mean, ubank doesn't have any offset facility whereas 86400 does have variable offset.

                If you're after fixed offset anz offer 1yr and Bendigo bank offers 4-5 years iirc.

      • acersaurus on 08/09/2021 - 19:42

        Thanks that's a good summary of the differences.

        The cashback is a pretty decent benefit. Limit of 20k extra repayments not so much, particularly over 3 years.

        • dealbrry on 08/09/2021 - 21:13

          Yeah it limits you a lot. I guess the low interest rate is the trade off. Would need to do some comparison for other options with the maximum additional repayments you’d expect to make vs other offset/early repayment options in the market.

          • acersaurus on 09/09/2021 - 18:18

            @dealbrry: It's still a very decent proposition by my calculations - and could do a shorter loan too, instead of extra repayments.

            If one was to get in financial trouble at some point e.g lose a job, could probably ask the bank to change to a longer loan.

            It is good to have the redraw of course.

  • NatoTomato on 08/09/2021 - 15:23

    Sorry OP for undercutting, but I have a family member as a mortgage broker who has handled my finance stuff for my house. Would this offer be available to other brokers as well?

    • samprofs on 08/09/2021 - 15:25
      +3

      Yes, it is. All this broker is doing is giving away 45% of their upfront income and hoping to recoup it via 3 years of trail income.

      Nice little business strategy and good to generate some buzz/business.

      • [Deactivated] on 08/09/2021 - 15:29

        just the 0.4% rebate though

        • [Deactivated] on 08/09/2021 - 15:48

          and 99.9% brokers doesn't give you a penny + many threaten charge you extra $ if you refinance within x years after they 'helped you find a better deal'

  • bobwokeup on 08/09/2021 - 15:32

    I wonder if they would do loans for a Bricklet?

    • bobwokeup on 08/09/2021 - 16:57

      Len just wondering if you saw my comment as you had replied to others afterwards? TIA

      • AssociatedLen -Bundle Loans @ Bundle Property Home Loans on 08/09/2021 - 16:59

        Hi sorry not sure what Bricklet is?

        • bobwokeup on 08/09/2021 - 17:09

          It’s a small percentage of a property and your name is still on the title. They start at $20k and might go up to $35k per Bricklet.

          • AssociatedLen -Bundle Loans @ Bundle Property Home Loans on 08/09/2021 - 17:27

            @bobwokeup: Sorry I’m not aware of any lenders that do that yet

          • htc on 09/09/2021 - 08:57

            @bobwokeup: Is it like buying share, you buy a share of the property?

  • SaberX on 08/09/2021 - 15:34

    One concern re: refinancing. After the 3 yr fixed term what is the current reference variable interest rate this refers to? I'm on a decent variable now which is fixed to the main Bankwest reference rate. So not the old bait and switch by changing the reference rate new products link to down the track in order to move yours up/down less favourably.

    Also is a partial offset or full available on this?

    Will lvrs below 85% gain any benefit % rate wise or be accepted for refinancing?

    Edit: are comparison rates for fixed loans calculated including the $2000 cashback or broker rebate? Or excludes these? Can you advise the breakdown of additional fees used/included to calculate the comparison rate for the fixed rate loan plz?

    • dazweeja on 09/09/2021 - 07:30
      +2

      I'm not sure that the revert rate is a concern for any fixed rate loan as you can always refinance with whichever bank has the best variable rate when the fixed term ends.

  • iRMonkey on 08/09/2021 - 15:36

    Is there a max loan size for this?

    • AssociatedLen -Bundle Loans @ Bundle Property Home Loans on 08/09/2021 - 16:44

      Min 250k+, no max

  • rits07 on 08/09/2021 - 15:38

    hi @lens - does this lender allow partial construction loan for a knockdown rebuild? Or can I refinance to a higher limit, then use the extra amount to fund the construction?

  • whytd on 08/09/2021 - 16:07
    +13

    I contacted you a few weeks ago for a home loan and you responded once with some questions. I asked for an application form and received no response. Sent a follow-up email, which had no response either.

    Neg for poor communication.

    • AssociatedLen -Bundle Loans @ Bundle Property Home Loans on 08/09/2021 - 16:43
      -7

      We answer 99% of all emails. Some people's emails keep going into spam, pls DM us your email. Or if this happens and you don't get a response, pls text or call us.

      • bohn on 08/09/2021 - 16:57
        +15

        Len,
        you've posted a few deals over the year/(s), and people always have the same comments about you being hard to reach.
        I doubt they're all in spam
        maybe get a new email provider and update your spamassassin rules or something ;)

        • bobwokeup on 08/09/2021 - 16:58
          +5

          Agreed everyone checks or should their spam folder occasionally, especially a business.

          • bohn on 08/09/2021 - 17:00
            +1

            @bobwokeup: yeah, and if they didn't , they would after they started getting complaints after they posted their first deal.

          • Homr on 08/09/2021 - 20:12
            -2

            @bobwokeup: I don't check my spam folder

          • sexy on 08/09/2021 - 17:28
            +8

            @Len -Bundle Loans: Wow this basically tells you go fk yourself if you end up in the spam
            Imagine if you deal with this guy and they don’t reply you, they got one thousand reasons to say they tried their best

            • htc on 09/09/2021 - 09:00

              @sexy: I think for op to offer extra cashback to applicant, he needs to minimise cost of hiring extra people. Some broker may offer better customer service but you probably don't get generous cashback from the brokers. Not an excuse to not reply, but sound like his deal is getting ozbargained.

          • whytd on 08/09/2021 - 20:55
            +6

            @Len -Bundle Loans: It's been way over 5 days now.

            Sorry but my business will go elsewhere. You haven't responded to my original 2 emails, I don't have any confidence in your business.

            Very odd that my original email came through, yet my replies were apparently sent to the spam folder?

          • potm on 09/09/2021 - 10:24
            +1

            @Len -Bundle Loans: So you add 5 days time frame to however long it takes the bank to respond. Just go direct people and save yourself the hassle. I had my loan fully approved by NAB in less than 5 days going direct with them.

          • greennick on 09/09/2021 - 13:44

            @Len -Bundle Loans: Sounds like what you are saying is the best course of action is to use another broker when you post on OZB?

    • cch24 on 08/09/2021 - 18:01
      +1

      I refinanced with Len to ANZ last year and it was a smooth process. Took a fraction of the time compared with Lendi who I deat with a few years prior.

      I would recommend him and will refinance with him again.

      You do need to get all your documents prepared and organised to allow for an efficient refinance.

      • [Deactivated] on 08/09/2021 - 18:45
        +6

        When I attempted refinance with Len last year it got stuck from getting price match approved by ANZ. No follow up from there whatsoever after saying he is in contact with anz pricing team.

        He is certainly not equipped for large scale business but alright as small time broker I think.

        Tho I reckon use some kind of CMS like salesforce will boost his business by a lot.

        So bare in mind that YOU need to follow up with them if there is any delay as they don't have any fancy system trigger automatic follow up.

    • MrThing on 16/09/2021 - 13:16
      +1

      just a dodgy broker. throw out the drag net on ozbargain with the bait of cash backs and pick up only the enquiries that make you the most $$$$$$$

      • Brokerr on 16/09/2021 - 15:22

        Any broker who has to give up their upfront commission income is desperate for business and unlikely to be one of the better brokers out there.
        If you got a $250K refinance via this broker they would literally be losing money, it's most likely just click bait to get 1000 enquiries and cherry pick the ones that you know you can actually make a buck from.

  • itslittfam on 08/09/2021 - 17:18

    Does this lender do finance for land only?

  • Brianqpr on 08/09/2021 - 17:20

    I just fixed for 3 years at 1.86%, no fees. But I work for the lender so a bit of a staff discount. I was 1 year into a 3 year fixed rate of 2.29% and they let me break it and re-fix for only $300.

    • dazweeja on 09/09/2021 - 07:32

      Great work. Do you mind sharing which bank?

    • [Deactivated] on 09/09/2021 - 09:35

      nice. breaking fixed rate free(or near-free) when the current offer is lower wasn't an option when I worked in a bank. :/
      It's free when the current offer is higher than what you're getting of course.

  • MrrMagic on 08/09/2021 - 17:24

    Just sent you an email

  • dannyboi on 08/09/2021 - 18:19

    Can the application and documents be done online or do they need to be physical?
    Not really keen on heading out in the middle of a lockdown in Sydney.

    Very attractive offer otherwise.

  • evgpek on 08/09/2021 - 18:36

    What is the minimum deposit to buy first home without guarantor?

    • [Deactivated] on 08/09/2021 - 18:42
      +1

      5% + ~5k to pay things like rate adjustment and solicitor or conveyance

      I recall you need to do some special something to get this deal. First home saver?

      • evgpek on 09/09/2021 - 00:10

        Thanks for your reply!

  • gtr80y on 08/09/2021 - 18:38

    Hi Len, I'm in the process of refinancing with TicToc at 1.89% variable.
    Are you able to beat our match this with rebate?
    Thanks

  • MadeIt on 08/09/2021 - 19:26

    Same, looking at Tic Toc (underwritten by Bank of Bedigo)…being offered 1.89% variable with no going fees, however $10 pm for an offset.

    Also keen to know if any OBs have experience with Tic Toc and would recommend?
    Currently with Bank of Sydney and want out, poor service, low rates for new applicants only!

    • gtr80y on 08/09/2021 - 20:58
      +1

      Although offset is $10 a month, it's actually quite cheap and works out to be a few basis points higher depending on your loan amount, as opposed to 86 400 which is 20bp higher.

    • axlfan on 09/09/2021 - 08:34

      Am with them. Good service and no issues so far.

      • iceblock333 on 09/09/2021 - 09:08

        How long have you been with them? Do they increase their rate after a certain time?

  • amsaini15 on 08/09/2021 - 19:57

    Hi Len, is broker rebate available if refinancing with any bank or just 86400?

  • Rick James18 on 08/09/2021 - 21:33

    I just refinanced with NAB at 2.39% fixed. Couldn't be happier the $2 covered all the refinance fees.

    • [Deactivated] on 09/09/2021 - 09:26

      …but NAB offers 1.99% 2yrs fixed? (and people in ozb doesn't even think that's a good deal)

      • Rick James18 on 09/09/2021 - 14:39

        It all depends on your loan profile and personal circumstances doesn't it? ;)

  • munted on 09/09/2021 - 00:06

    Hey Len, how long do you have to stay with NAB for? If you fix your rate for 2 year then remortgage with another lender do you still get the cashback? Remortgage after 1 year? Is there any minimum period?

  • JakeTheMuSS on 09/09/2021 - 05:29

    So I got a reply from Len.. he said. $2,000 cashback - Offset Package product only (no cashback for basic NEAT)

    Is it still a good deal going fixed and the 295 a yr?

    Cheers
    Jake

    • [Deactivated] on 09/09/2021 - 09:30
      +1

      also bear in mind refinance itself incur some costs. IMO $2k just barely covers the effort + costs.

      Most banks charge annual fee for 'package' product anyway and it's often a fraction of the total interest you ends up paying.

      One of my friends says take it like your telco deal, try move around every year or so to get the best deal in the market.

      Also worth note that every credit check conducted by a mortgage provider will trigger retention system in your current lender, so does actual settlement request.
      so they'll try retain you by offering better something. so even if you ends up not refinancing at all, it's worth give a shot and see what your current lender offers.

      • MuddyClear on 09/09/2021 - 20:26

        also bear in mind refinance itself incur some costs. IMO $2k just barely covers the effort + costs.

        Sounds contradictory as you then say it’s worth a shot.

        it's worth give a shot and see what your current lender offers.

        People refinance for a better rate, and not necessarily to profit from the cashback, which is intended to help pay for the break-out costs.

  • axlfan on 09/09/2021 - 08:34

    Do they still require you to go thru a broker?

  • Phoenix108 on 09/09/2021 - 10:55
    +4

    If I go to the official website, the rates listed are higher for the 85 LMI loan.

    https://www.86400.com.au/home-loans/85-no-lmi/

    Just to make it crystal clear, are you saying that a person applying for an 85 LMI waiver loan will have access to the low rates in your post (ie 3 Year Fixed Own home loan = 1.85%)?

    Your post title seems to imply that.

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