Home Loan Lender Where Published Rates Is The Rate of Existing Customers

fan8956 on 08/02/2022 - 23:22
Last edited 08/02/2022 - 23:46

Thanks in advance everyone.

  • I know that for most lenders, the published rates are only for new customers. If you are already with them, your rate will be most likely higher and the difference will go bigger and bigger over time.
  • I don't like the hassle of refinancing from time to time to just get back on track on the new cheap rates

So the question:
Does anyone know any lender that will always give the published rate to most existing customers? I don't mind some small portion of special customers can give even better rates, for example some discount from the published rate. Sticking long term with such a lender will save me a lot of time doing research to find new best lender, save the hit to my credit profile, going through the lengthy refinance process again and again.

I heard some good stories about Athena and UBank. Could anyone verify they are such a lender as above?

Financial Home Loan Loan

Comments

  • capslock on 08/02/2022 - 23:33

    I asked my old bank for a lower rate and they said no. I applied for a loan at a new bank and when they called my old bank to pay out my loan, my old bank called me and offered to lower my rate to keep me as a customer. I think you have to play their games if you want a lower rate.

  • Master Bates on 08/02/2022 - 23:46

    Does anyone know any lender that will always give the published rate to most existing customers?

    UBank do with a quick phone call, though they only have redraw not offset if that's important to you.

  • Almost Banned on 09/02/2022 - 00:22

    Yes, Athena does this.

    • Markoov on 09/02/2022 - 08:50
      -1

      Good luck with getting approved with Athena, I've got a Very Good credit score with no loans other than the mortgage and a Credit Card which was offered as part of the Home Loan package, no HECS no car loans, and they have declined me because of my credit report, they are not willing to discuss what's the issue.
      In addition, it takes 7-10 business days to reply to an email.
      Stay away from Athena.

      • Almost Banned on 09/02/2022 - 10:46

        I had no issues with them at all.

  • KaTst3R on 09/02/2022 - 02:05
    +2

    I don't like the hassle of refinancing from time to time to just get back on track on the new cheap rates

    You dont like saving money? Even a small percentage saved will translate into hundreds less in repayment per month. Every bank will have special campaigns from time to time and you just move to whichever the one that benefits you the most.

    • SBOB on 09/02/2022 - 06:48
      +1

      Yeah, I don't get this argument either (and it's what the banks count on….sticky customers)

      The last couple of refinances I've done have been an hour or 2 of applying/paperwork/gathering supporting evidence etc over the entire process

      Unless you have some less friendly finances (eg sole trader where the documentation requirements may be more time consuming), I don't see how it's not an easy decision to reassess every few years and refinance if better deals exist (assuming any refinance costs are offset by the savings over the expected time)

    • fan8956 on 09/02/2022 - 09:27

      I guess everyone's situation is different. For me, A I am self-employed so things gets a lot more complicated, B I am quite busy and would prefer to stick with a long term lender, C I have some badly invested asset that makes refinancing more complex, like Athena wont give me a loan for my investment property because the building is 7 stories. So for me, it is not very cost efficient to have to spend so much time for my complicated case every now and then.
      But when I was on the same boat as most of the people, I would spend time occasionally to go through lengthy process to save $.

  • El-Rhi on 09/02/2022 - 06:21
    +1

    Athena is the only one I know of that does it

  • MrThing on 09/02/2022 - 06:24
    +1

    athena the only good dogs out there. the rest are just plain old dogs.

    athena pride themselves on that part, the rate for new is the same for the rate for old. I cant see them getting rid of that as its a pretty strong selling point and fairly core to their business given the ads on TV

    I dunno what else you really want with a home loan lender other than a great rate and minimal fees which athena do both. offset is a nice additional however

  • Tobias on 09/02/2022 - 08:25

    UBank does not do this automatically. You may or may not have success with a phone call i.e. existing loan balance must meet criteria of new rate etc.

  • bmxr on 09/02/2022 - 10:25
    -1

    I don't like the hassle of refinancing from time to time to just get back on track on the new cheap rates

    What hassle? It literally took us 5 minutes on the phone to refinance with our current lender and got 1.79% p.a. fixed for two years.

    • El-Rhi on 09/02/2022 - 11:36

      That’s not a refinance, you just negotiated a rate with your current lender

      • fan8956 on 09/02/2022 - 13:50

        It is hard to communicate with some people as you see :) And thanks for your patience and time to leave a comment.

  • alphanumericbargains on 09/02/2022 - 11:25

    Nano home loans also does a single rate for all customers.

    • fan8956 on 09/02/2022 - 13:53

      That is good to know. Thanks for that. How did you find our service in terms of setting it up and ongoing?

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