This was posted 2 years 8 months 28 days ago, and might be an out-dated deal.

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Basic Variable Rate Home Loan 1.89% (60% LVR), 1.99% (70% LVR), 2.09% (80% LVR) @ 86 400

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Basic Variable Rate Home Loan 1.89% (60% LVR), 1.99% (70% LVR), 2.09% (80% LVR) @ 86 400
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AssociatedMortgage Broker @ Lending Clinic on 25/03/2022 - 00:02 86400.com.au (260 clicks)
Last edited 25/03/2022 - 12:19 by 2 other users

Arguably not as good as tic:toc but this fintech bank (86 400) works with mortgage brokers and may be worth a look if tic:toc doesn't like your property or can't give you the loan for whatever reason.
Their "Neat" product has super sharp basic variable rate with no annual/monthly fee, free redraw, $250 establishment fee.

Owner-occupied P&I rates:
60% LVR: 1.89% (1.90% comparison)
70% LVR: 1.99% (2.00% comparison)
80% LVR: 2.09% (2.10% comparison)
85% LVR: 2.54% (2.55% comparison)

Investment P&I rates:
60% LVR: 2.14% (2.15% comparison)
70% LVR: 2.24% (2.25% comparison)
80% LVR: 2.34% (2.35% comparison)

This bank is probably a good long-term solution if you don't want to refinance every 2 years. Their rates tend to be lower than the major banks all year round.

They can also do 85% LVR with no LMI if you're a bit low on your deposit.

No cashback from the bank but I do offer a broker cashback of 0.15% of the loan amount (net of offset and redraw), paid after 2 years if you haven't refinanced or sold the property.
On a $500k loan the broker cashback is $750.

Arman Soetanto
Lending Clinic
M: 0431 825 128
E: [email protected]
W: www.lendingclinic.com.au
CRN 498047 under ACL 384704

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Referral: random (1277)

Referrer and referee each receive $20 after referee makes 5 settled card purchases within 30 days.

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closed Comments

  • ChickenAdobo on 25/03/2022 - 00:49
    +2

    86400 is branch of NAB fyi

    • jv on 25/03/2022 - 00:52
      +3

      😲

      Have you reported it to anyone?

    • AssociatedMortgage Broker @ Lending Clinic on 25/03/2022 - 08:09

      86 400 is owned by NAB but completely separate pricing, 86 400 is online only and is a fintech/neobank, everything is done on an app and no internet banking on a computer (which can be a cool thing or a bad thing).

      • elitistphoenix on 25/03/2022 - 09:25

        Wait so you made and app and not a website?! wth

        • Azmunga on 25/03/2022 - 09:34

          They have website banking/access in development apparently. Damned if I can find where I read that now though.

          • Tleyx on 25/03/2022 - 10:19
            +1

            @Azmunga: It was in.their email newsletter

    • Kas on 25/03/2022 - 10:26
      +1

      Don't forget Athena!
      https://www.ozbargain.com.au/node/678135

  • Kawaii on 25/03/2022 - 01:18
    +1

    do i need to pay a lot to refinance from NAB? my comparison is 4.09% lol

    • AssociatedMortgage Broker @ Lending Clinic on 25/03/2022 - 08:09

      Same costs as if to refinance to a bank which is not owned by NAB. You're looking at a discharge fee usually $300-$350 for your existing bank, around $300 for the land title office, and the $250 establishment fee from 86 400 you're refinancing to.

  • Nurcopolics on 25/03/2022 - 05:38

    This deal or Athena?

  • Nurcopolics on 25/03/2022 - 05:38
    +3

    There's 86400 seconds in one day…

  • blandest on 25/03/2022 - 07:32
    +1

    Any ideas how to get NAB to match this price or come close? I've tried in the past with no avail. CBF moving lenders with all the paperwork required and I think NAB know that.

    • Lucille Bluth on 25/03/2022 - 08:01
      +3

      I recently refinanced to Athena. Was very easy probably no more than 1 hour of my time spent and went to unconditionally approved within 6 days.

      Just put in some effort to refinance, it will mean tens of thousands of dollars saved in the mid to long term.

      They have a $250 bonus using referral codes (check previous Athena deals for the referral code randomizer).

      • blandest on 25/03/2022 - 08:03

        My problem is our income isn't great on paper so we can't refinance. have never had an issue paying or will however… self-employed, new business, big loss in first year etc etc

        • Lucille Bluth on 25/03/2022 - 08:05

          Got you. Check with a broker in that case, they will do all the hard lifting and tell you what your chances are to successfully refinance. You don't know until you try.

          There is still a lot of competition out there. Good luck

      • BaeSuzy on 25/03/2022 - 10:32

        did u do it yourself?

        • Lucille Bluth on 25/03/2022 - 12:23

          Yes, totally by myself. It was really easy. Whatever documents they needed they were quick and you could even upload the documents by taking a photo on your phone and sending them as an SMS to them. It was super easy.

          Any questions I had I could SMS them and they would respond really fast.

    • AssociatedMortgage Broker @ Lending Clinic on 25/03/2022 - 08:11

      Can try sending in their discharge form and just be super confident when they call about your ability to refinance 😃
      Also if your rate is higher than one of their fixed rates on their website, you can change your loan to a fixed rate (fixed rates are the same for new & existing customers). If you have a lot of cash you want to offset/redraw, can split the loan into 2 loan accounts, one as a fixed rate for the "real loan" and one as a variable rate for the "future/extra loan".

  • Dandaman21 on 25/03/2022 - 07:46
    -1

    Arguably not as good as tic toc. Demonstrably not as good as Athena.

    • GetFitWithCameron on 25/03/2022 - 11:28

      What about the St Georges deal posted yesterday?

  • dreamzz on 25/03/2022 - 08:22

    do they offer interest only and construction loan?

    • AssociatedMortgage Broker @ Lending Clinic on 25/03/2022 - 08:29

      Interest only yes, but construction loan is a tough ask for online banks generally

      • dreamzz on 25/03/2022 - 08:36

        ok, what about borrowing in a trust or company?

        • AssociatedMortgage Broker @ Lending Clinic on 25/03/2022 - 08:59

          Too complicated 😀
          The main benefits compared to Athena and tic-toc are probably no postcode restrictions (good for regional areas), smaller properties (can be as small as 40 sqm excluding balcony and car space), and 85% LVR without LMI for owner-occupied home. Also likely higher loan amount, let me know if Athena and tic:toc don't give you a large enough loan and I can take a look.

  • Kaz0551 on 25/03/2022 - 08:47
    +4

    These rates are nothing new… advertising link back to the OPs company =/

    If anyone wants to format betterer, correct as at 15/3/22;

    Owner Occupier, P&I % 0%<=50% LVR 50%<=60% LVR 60%<=70% LVR 70%<=80% LVR* 80%<=90% LVR 90%<=95% LVR
    ING 1.99 1.99 1.99 1.99 2.29 2.79
    Suncorp 1.94 1.94 1.94 2.02 2.29 3.09
    86400 1.89 1.89 1.99 2.09 2.54
    ME Bank 1.98 2.03 2.09 2.14 2.99 3.52
    NAB 2.19 2.19 2.19 2.19 2.99 2.99
    St George 2.14 2.14 2.19 2.19 2.24 2.24
    Bankwest 2.14 2.14 2.14 2.19 2.58 2.99
    AMP 2.19 2.19 2.22 2.22 2.44
    Macquarie 2.14 2.14 2.19 2.24 2.69 3.01
    MyState Bank 2.14 2.14 2.19 2.24 2.53 3.19
    ANZ 2.19 2.19 2.19 2.29 2.98 3.19
    Westpac 2.19 2.19 2.19 2.29 2.29 2.29
    CBA 2.29 2.29 2.29 2.39 2.99 2.99

    Investor, P&I % 0%<=50% LVR 50%<=60% LVR 60%<=70% LVR 70%<=80% LVR* 80%<=90% LVR 90%<=95% LVR
    Suncorp 2.19 2.19 2.19 2.24 2.64
    ING 2.29 2.29 2.29 2.29
    86400 2.14 2.14 2.24 2.34
    AMP 2.34 2.34 2.39 2.39 2.67
    MyState Bank 2.34 2.34 2.39 2.44 2.99
    Macquarie 2.29 2.29 2.39 2.49 3.25
    St George 2.44 2.44 2.49 2.49 2.54 2.54
    Bankwest 2.39 2.39 2.39 2.49 2.99
    ANZ 2.49 2.49 2.49 2.59 3.22 3.79
    CBA 2.49 2.49 2.49 2.59 3.54 4.43
    Westpac 2.49 2.49 2.49 2.59 2.59 2.59
    NAB 2.79 2.79 2.79 2.79 3.34 3.34
    ME Bank 2.98 2.98 2.98 2.98 3.45 5.37

    • bloom on 25/03/2022 - 08:58
      +3

      Thanks for betterer format

    • Kas on 25/03/2022 - 10:25

      You missed Athena!
      https://www.ozbargain.com.au/node/678135

    • xrailgun on 26/03/2022 - 02:30
      +2

      where did you get this data from? this format is really hard to work with

      there's 6 header columns for LVR%, but a bunch of banks (especially for investors) only have 4-5 values, there's no way to tell which LVR% band is missing.

      This is what I have for Owner Occupier, 86400 and AMP have missing values.

      Owner Occupier, P&I 0%<=50% LVR 50%<=60% LVR 60%<=70% LVR 70%<=80% LVR 80%<=90% LVR 90%<=95% LVR
      ING 1.99 1.99 1.99 1.99 2.29 2.79
      Suncorp 1.94 1.94 1.94 2.02 2.29 3.09
      86400 1.89 1.89 1.99 2.09 2.54
      ME Bank 1.98 2.03 2.09 2.14 2.99 3.52
      NAB 2.19 2.19 2.19 2.19 2.99 2.99
      St George 2.14 2.14 2.19 2.19 2.24 2.24
      Bankwest 2.14 2.14 2.14 2.19 2.58 2.99
      AMP 2.19 2.19 2.22 2.22 2.44
      Macquarie 2.14 2.14 2.19 2.24 2.69 3.01
      MyState Bank 2.14 2.14 2.19 2.24 2.53 3.19
      ANZ 2.19 2.19 2.19 2.29 2.98 3.19
      Westpac 2.19 2.19 2.19 2.29 2.29 2.29
      CBA 2.29 2.29 2.29 2.39 2.99 2.99
  • croseks on 25/03/2022 - 09:08
    +1

    When are banks going to accept Bitcoin as collateral?

    • [Deactivated] on 25/03/2022 - 09:17
      +1

      30 coins should be more than enough for average house in Syd. small amount of coins…

      • croseks on 25/03/2022 - 09:20

        I'd be happy with a 40% allocation of BTC instead of a 20% Cash Deposit.

        I'd rather not sell the BTC…

        • [Deactivated] on 25/03/2022 - 09:29

          if BTC hits $100k, you'll need fewer coins…

        • Clear on 25/03/2022 - 10:46

          I sold BTC to make my deposit. I certainly could have got more money when BTC peaked even more but it also meant by homeloan is much lower long term.

          • tunzafun001 on 25/03/2022 - 12:32
            -1

            @Clear: Crypto/ property…life …all the same ponzi…get in early and let the new comers at the bottom increase the value of yours..

            • Clear on 25/03/2022 - 12:52
              -1

              @tunzafun001: I purchased Pre-COVID before things took off big time.

    • Lucille Bluth on 25/03/2022 - 12:24
      +1

      Ledn in Canada only recently was the first CeFi provider to start offering this type of loan for mortgages with BTC as collateral. But unfortunately only for homes in Canada. It is only a matter of time that "traditional" banks catch on. CBA and ANZ already are dabbling with "crypto" and BTC.

    • Dimeslots on 25/03/2022 - 14:00
      +1

      when they stop dropping 50-60% in a month.

      • Lucille Bluth on 25/03/2022 - 15:26

        Don't look at short-term price movements.

        It has dropped by 50%+ 8 times in the last 13 years. It has rebounded each and every time to go on to make new all time highs. And everyone that has bought and held for an average period of 3.5 years is in the green.

        It isn't for everyone, and if you don't like volatility stick to precious metals but don't expect same ROI.

        • Dimeslots on 25/03/2022 - 16:11
          +2

          Oh you get me wrong - i love crypto and have a huge portfolio.

          Just saying why banks wouldnt take it as collateral because their balance sheets wont be compliant with laws if values plummet overnight.

    • netjock on 25/03/2022 - 14:01

      Banks won't accept their own shares as collateral. Good luck.

  • freo on 25/03/2022 - 13:02

    I wanted to refinance Home and Investment loans and had a loan easily pre-approved online by Athena — but when they called to walk through the details they turned me down because they couldn't accept genuine, taxed AirBNB income for an investment property I have.

    @mortgage broker - Do any of these other lenders accept fully documented / proven income like this? (tictok, 86400)

    • netjock on 25/03/2022 - 14:02
      +2

      Think the problem with AirBNB is it isn't a stable income.

      My broker said that shares and rental property income is worth something but not 100% (for rental property it is vacancy, maintenance and buffers) so really it is an exercise in frustration.

    • croseks on 25/03/2022 - 14:30
      +1

      Agree with netjock above, AirBNB is not considered stable income however if you can provide something like 2 years of records showing the income is fairly stable then you can make your case.

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