ME Bank raised their fixed rates effectively on 15th Dec 2021. Most major banks offer 2 years fixed from 2.59%. ME Bank may increase its fixed rates anytime soon and we advise to apply for a rate lock for a fee of $500.
Uncapped $3,000 cash back offer is available per application so long as eligibility is met on each application and each application has a separate security property. Conditions are:
- Switch their existing home loan from another lender
- Apply by 28/02/22 and settle by 31/05/2022
- Take out a home loan with a minimum size of $250k and a maximum LVR of 80%
Rates highlight:
Owner occupied P&I with comparison rate (CR)
2 years fixed 2.29% CR 3.00% at 60% to 80% LVR
3 years fixed 2.69% CR 3.07% at 60% to 80% LVR
Standard variable with offset 2.03% CR 2.50% at 60% LVR or less over $400k
Standard variable with offset 2.14% CR 2.61% at 70% to 80% LVR over $400k
Investment P&I with comparison rate (CR)
2 years fixed 2.69% CR 3.62% at 80% LVR or less
3 years fixed 2.99% CR 3.65% at 80% LVR or less
Standard variable with offset 2.98% CR 3.43% at 80% LVR or less over $400k
Comparison Rates
Each comparison rate is based on $150,000 over 25 years. These comparison rates apply only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Comparison rates for Interest Only Fixed Rate home loans are based on an initial Interest Only period equal in length to the fixed rate period. Comparison rates for Interest Only Variable home loans are based on an initial 5-year Interest Only period.
Other refinancing rebates available:
Virgin - Get up to $3,000 cashback when you refinance your home loan before 30 Jan 2021 T&Cs apply.
BOQ - Get up to $3,000 cashback when you refinance your home loan before 30 Jan 2021 T&Cs apply.
MYSTATE - Get up to $3,000 cashback when you refinance your home loan until 28 Feb 2022 T&Cs apply.
The other rebates offer by other banks which we can show you as part of our analysis
Broker Rebate Terms and Conditions
We are offering a $500 upfront cashback for loan greater than $500k (excluding offset and redraw) for any fixed term loan of 2 years or more. $1,000 upfront cashback for loans $1M and above (excluding offset and redraw) for any fixed term loan of 2 years or more.
Maximum of 1 cashback per household.
Contact me for a no obligation meeting via calendly or call me directly.
https://calendly.com/james-sim
James Sim - Senior Mortgage Broker
M: 02 8319 4862 / 0487 000 098
E: [email protected] or [email protected]
W: https://www.nectarmortgages.com.au/project/james-sim/ or http://jamessimbroker.com.au
Australian Credit License number 387856
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Won National Top Broker for customer service award 2021
I was here for the door mat.