Not sure if this is a deal per se, but their fixed rate is around 5.03% p.a (5.54% p.a comparison rate) usually.
Other terms and conditions in the pdf, might or might not be beneficial, just thought I'd make the community aware of it :)
UHomeLoan - 4.79% PA (5.52% PA Comparison Rate) for The 1st Year for First 479 Applications
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anecdotal - neg is a bit strong
Yeah I apoligized to rohanp it was an accident.
Just a reaction to the ubank(shudder) experience I guess…….although I think the my experience with ubank should be noted
My experience was the opposite. It was fantastic. The whole process was extremely easy to do online. It probably took a little longer than I expected - from exact start to exact finish was about 2 months iirc. They have a great rate, as they are a no frills online account, which is all I need. They also do not reduce repayment amounts automatically on rate drops, as I prefer.
I think Ubank's signup can be a bit of luck of the draw and will vary depending on your personal circumstances. I signed up and it was all sorted with minimal fuss but I have also heard horror stories. If your circumstances are straightforward than I think it's generally fine.
I'm happy with the service I received and I found their phone support really good.
Rates expected to go down 0.25% today so may not look so good then.
It was a 50/50 bet, leaning towards no change. And they didn't change.
How is this a bargain?
$395 fee makes the comparison rate 5.52%. 4.79% is the marketing gimmick.
Um.. no. Unless you are only getting a loan of $54,000.
"The Comparison Rate is based on a secured loan of $150,000 over the term of 25 years" and is their estimate of rates and fees over that time. And presumably a lot of people take larger loans than that, so the fee is a smaller percentage of your total loan.
Whether it's a good deal to lock in for 1 year now, or look at 2, 3 years, or just go vairable is a different question.
They give good rates, bad service.
I found the experience to sign up horrible
I did everything right
I gave up after they rang THREE times and asked the same question after assuring me the documents had been sent to the lender.
They approved my loan in 5 weeks
I chose to go with a local C.U. and I believe overaul I got better value in the long run