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5.01% Home Loan, as Good as It Gets One Week Only

31
5.01% Home Loan, as Good as It Gets One Week Only
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Sabric on 12/04/2013 - 19:50 loans.com.au (507 clicks)
Last edited 12/04/2013 - 22:30

I hope someone is out looking for a home loan. This is variable rate but too sweet to pass. $300,000 house 80% loan ($240,000)will come as cheap as 300 per week.
When you think cheapest rents this loan stands out very well.
I was told this promotion will be ending 22 April. Good luck…

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  • leeroys_dad on 12/04/2013 - 19:52

    i've always wondered about these loan companies… any good?

  • KLoNe on 12/04/2013 - 19:54

    Fees?

    • Sabric on 12/04/2013 - 22:38

      I can not see on going fee but you read it yourself. Other up-front fees or charges may be payable.

      4.99%pa, comparison rate of 5.01%pa
$0 application fee¹
Unlimited free redraws and online transactions
Free Bpay, direct credit and debit transactions
Up to 5 free splits
5 free ATM transactions per month with an agreed list of financial institutions on variable loans

      Our fees
      $0 application fee
      $0 legal fee
      $75 settlement fee
      $0 exit fees if loan paid out early
      $300 discharge fee
      $220 valuation fee (may be higher in some cases)
      Govt fees and charges - at cost
      Title insurance - at cost
      Title search, bank cheques & agent fee - at cost
      Discharge outlays - at cost

      • wisc on 12/04/2013 - 23:31

        didn't think they where allowed to do discharge fees anymore - or was it exit fees… and whats the difference between the two, anyone know? and what's the go with the valuation fee… if they are 80% and they value your house so that you cant get the loan you still have to pay 220? WTF?

  • Happy501 on 12/04/2013 - 20:09

    @rep, do you have any loans for 90% LVR?

  • Wampus on 12/04/2013 - 20:10
    +2

    Just got a home loan last week at 4.99% from Commonwealth

    • Happy501 on 12/04/2013 - 20:13

      If you don't mind me asking Wampus, what was your LVR on that loan?

      • [Deactivated] on 12/04/2013 - 20:17

        Mine was 95% for CBA, I got the same loan just before Easter

    • mducpham on 12/04/2013 - 20:40

      hi Wampus, hope you dont mind if I ask, is your loan fixed?

    • [Deactivated] on 12/04/2013 - 20:49
      +2

      is 4.99% comparison rate? i have a feeling the comparison rate will be around 6%…

      • leeroys_dad on 12/04/2013 - 23:09

        my bet is it's an intro rate and will jump after 2 years
        edit: cba lists 4.99% for 2 years, with 6.09% comparison rate

    • Sabric on 12/04/2013 - 22:39

      Well, they are pretty clever with playing figures, aren't they?

      • wisc on 12/04/2013 - 23:29

        yeah, just have to compare comparison rates.

  • [Deactivated] on 12/04/2013 - 20:11
    +1

    All the banks where doing 4.99% fixed a few weeks ago CBA, Westpac

  • airzone on 12/04/2013 - 20:21

    Your calculator is broken…

  • BenK-Oz on 12/04/2013 - 20:23
    +1

    the rate is 5.01 not 5.1 might want to fix the title?
    there is $220 valuation fee + $75 settlement fee then no fees after that
    i've been with loans.com.au since they had the 5year "move with rba" deal which has been great!

    • Sabric on 12/04/2013 - 22:29

      I am sorry, Yes it should be 5.01.
      Thank you.
      When it comes to interest rate every bit counts.

    • amsaini15 on 12/04/2013 - 23:56

      Thats true. Dont think they will come with such offer again ever.

  • Atre on 12/04/2013 - 20:27

    can't buy much with $300,000

    • fchis on 12/04/2013 - 20:29

      country side probably

    • MATTDAMON on 12/04/2013 - 20:55
      -1

      300k will get you a nice 3 bedder in a decent Suburb around Newcastle (Shortland, Wallsend, Waratah, Elemore Vale and some parts of Kotara)

      300k in Sydney wont get you much though.

  • JimmyBargain on 12/04/2013 - 20:47
    -1

    Great!

  • No ONE on 12/04/2013 - 21:12

    I never understood these interst rate things. How much can I get loan if i want to make a repayment $2000 a month for 10-15 years @current interest rate.

    • pat25d on 12/04/2013 - 21:38
      +2

      About $250,000 - use one of the many mortgage calculators online.

    • David Hasslehoff on 12/04/2013 - 22:16

      in theory the best option is if you can afford $2000 per month, you could take the loan for 25 years and then when you have enough capital buy an investment property, you could never predict to make payments of $2000 for 15 years unless you lock it into a fixed rate as the market fluctuates, also fortnightly payments workout cheaper.

      also the ANZ breakfree rate is the same as this

  • timmysbiscuits on 12/04/2013 - 23:21
    +1

    I have been with loans.com.au for more than six months and have had never had never had a problem.

  • coolhead on 12/04/2013 - 23:24
    +2

    any reps here? does this come with a free offse account of not?
    I guess thats an important feature as u tend to save a lot if u have one & some extra cash..

    • mducpham on 13/04/2013 - 00:16

      "Flexible 100% redraw offset facility" so does it mean free redraw and 100% offset account linked?

      • BenK-Oz on 13/04/2013 - 11:11

        yep i have "Two" accounts, one is an offset, the other is the loan account but i can move money in/out (i.e. free redraw) as well
        The free visa debit card is connected only to the offset account.
        So i just keep most of my money on the redraw for safety and move it to the offset to withdraw if need be.
        Can b-pay from any account

  • David Hasslehoff on 13/04/2013 - 00:14

    OK so this is a variable rate and not locked in, which means after you get the loan the rates could rise any time?

  • y12345678 on 13/04/2013 - 08:11

    Purchase only. no refinance.

  • delfredo on 13/04/2013 - 10:07

    Could an exiting loans.com.au share with us your experience in relation to movements in variable rate, as compared to central bank movements and the big 4 rate movements? Are they relatively in line with competitors? Were there any out of cycle movements?

    I found it difficult to judge loans.com.au as, unlike the big 4 banks, they do not have a reference rate such as the 'standard variable rate' that is published on their website. I can only see the rate offerred to new applications, not even knowing how these new rates compare to those for existing customers.

    • BenK-Oz on 13/04/2013 - 11:12

      I cant comment on this as my deal is 5 years of moving with rba rises/falls, my rate has fallen the day after rba announcements for the last year and a half

      • delfredo on 13/04/2013 - 16:05

        Is the 'offset redraw' account really an offset account? I wonder why they don't call it the offset account?

        • BenK-Oz on 13/04/2013 - 16:21

          You get two accounts, one is offset the other redraw

        • delfredo on 13/04/2013 - 20:33

          So just to clarify, you get 3 bsb account numbers? One for the home loan, one being a savings account that is 100% offset to the home loan account, and one is the redraw account? If this is correct (ie. 3 bsb account numbers) then how different is the redraw account compared to the home loan account? Maybe I got it wrong here.

        • BenK-Oz on 13/04/2013 - 23:49

          2 account numbers
          the home loan and redraw is the same, you put extra money onto your home loan and take it out for free = redraw

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