ME Bank Owner Occupied 2 & 3 Year Fixed Rate Home Loans: 5.84% & 5.79% for OO and 5.99% and 5.94% for IO LVR under 80%

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ME Bank Owner Occupied 2 & 3 Year Fixed Rate Home Loans: 5.84% & 5.79% for OO and 5.99% and 5.94% for IO LVR under 80%
Go to Deal
Store RepJamesSimBroker @ James Sim, Nectar Mortgages on 28/08/2024 - 22:21 mebank.com.au (84 clicks)

Me Bank offers great fixed rates for both owner occupied (OO) and investment (INV) loans. Please note that fixed rates can be changed by the lender at anytime. A rate lock for fixed rates for 90 days is available for a once-off payment of $500.
Good option for refinancing multiple debts, multiple cashbacks available for multiple securities, combo pricing for investment and owner-occupied properties and e-loan docs signing.
ME offers $3k cashback for refinancing applications for loan size over $700K. To be eligible for this offer, applications must be received from 15 June 2024 and settle within 120 days of the loan application date.

Owner occupied P&I with comparison rate (CR)
Member Package 2 Years Fixed under 80% (OO PI) at 5.84% CR at 6.53%
Member Package 3 Years Fixed under 80% (OO PI) at 5.79% CR at 6.49%

Investment P&I with comparison rate (CR)
Member Package 2 Years Fixed with offset facility under 80% (OO PI) IR at 5.99% CR at 6.73%
Member Package 3 Years Fixed with offset facility under 80% (OO PI) IR at 5.94% CR at 6.68%

Investment IO with comparison rate (CR)
Member Package 2 Years Fixed with offset facility under 80% (OO PI) IR at 5.99% CR at 6.74%
Member Package 3 Years Fixed with offset facility under 80% (OO PI) IR at 5.94% CR at 6.69%

Member Package annual fee of $395 applies.

Other refinancing rebates available:
ANZ - Get up to $2,000 cashback

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.

My Profile:
Ex corporate accountant for over 10 years before joined my own mortgage broker as a trainee and has been a full-time mortgage broker for over 10 years. Recent review over 100 clients.(https://tinyurl.com/REVIEW-JSIM). Won National Top Broker for customer service award 2022.
Contact me for a no obligation meeting via Calendly(https://calendly.com/james-sim/30min) or call me directly.
James Sim - Senior Mortgage Broker
M: 02 8319 4862 / 0487 000 098
E: [email protected]
W: https://www.nectarmortgages.com.au/project/james-sim/
Australian Credit License number 387856

Referral Links

Referral: random (20)

$150 Coles Group & Myer Gift Card for both referree and referrer when loans are settled.

Financial Home Loan Investment Loan

Related Stores

ME Bank
ME Bank
James Sim, Nectar Mortgages
James Sim, Nectar Mortgages
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Comments

  • Wiadro on 28/08/2024 - 22:24
    -4

    comparison rate over 5.88% nah no thanks

    • pennypincher98 on 28/08/2024 - 23:09
      +4

      Comparison rates are kinda irrelevant for fixed rates.. It just tells you that "this is 2/3 years fixed and 28/27 years variable rate of a $150,000 loan at current rates".

      A) The variable rate is well… variable. Very likely not going to be the same in 3 years.
      B) This assumes you are with the same lender for 30 years without trying to refinance or renegotiate.
      C) Does not include all fees.

      Basing a decision off comparison rates is what screwed so many over when the rate rises happened because the comparison rate advertised for a 2-5 year fixed rate in 2020 was much different than the rate they came off at in 2024. For example, comparison rates were higher for 5 year than 3 year - but 5 years at 2.2% is a lot better than 3 years at 2.1% and 2 years at 6% (which was advertised in comparison rate at 2%).

      This isn't anyone's fault btw, it's just kind of hard to foresee a financial crisis years in advance.

      • cski on 29/08/2024 - 08:31

        variable rate of a $150,000 loan at current rates".

        These really need to updated it is unfair and misleading to use such a figure when the average loan is as much as 3-5 times that.

        In fact multiple banks and brokers giving me this pds comparison. But rejected my 150k application saying minimum loan is 300-500k telling me i should increase my asking amount, will be entitled to taking a loan of that 300-500 instead

  • nokia3660 on 28/08/2024 - 22:25
    +1

    Forgive my ignorance, I am a home loan newbie but what exactly does it mean why you say Please note that fixed rates can be changed by the lender at anytime. I was under the impression that a fixed rate is exactly that, a fixed rate for the duration.

    • duluxe2000 on 28/08/2024 - 22:28
      +2

      He means that the advertised rates are at the time of writing. When you apply for loan and when loan is settled, the fixed rate might change. Of course once it's settled, the rate is fixed for the duration of the fixed years

  • jrt2020 on 28/08/2024 - 22:45

    June 2024 last date ?

  • kumquat on 28/08/2024 - 22:55

    What rate is ANZ offering?

  • MA87033 on 28/08/2024 - 23:25
    +1

    Why am I disappointed that it wasn't a deal on a welcome rug.

  • bleugh on 29/08/2024 - 08:48
    +1

    Thanks OP. need to start hunting for offers as our 1.99% fixed ends in January!
    yaay, almost double mortgage payments :-P

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