All Topics / Finance / Lines of Credit. Who has the cheapest.

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  • Profile photo of pfsfinancepfsfinance
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    @pfsfinance
    Join Date: 2004
    Post Count: 171

    Not being a broker anymore and not really keeping up with the market place. Who has the cheapest LOC? It can’t be part of any package and must have all the bells & whistles with no monthly or annual fees

    State Manager

    Wholesale Mortgage Lender that deals only with brokers.

    20 years in Finance Industry

    Profile photo of Robbie BRobbie B
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    @robbie-b
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    Post Count: 2,493

    Why does it have to be a LOC?

    Robert Bou-Hamdan
    Mortgage Adviser

    http://www.mortgagepackaging.com.au

    Investor Links

    Profile photo of TerrywTerryw
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    @terryw
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    ANZ’s is 7.32% normally, but depending on the amount, there are discounts on their package of up to 0.70%.

    Macquarie also have one (MEC) at 6.75% for amounts over $300,000.

    Terryw
    Discover Home Loans
    Mortgage Broker
    North Sydney
    [email protected]

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of Robbie BRobbie B
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    @robbie-b
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    Terry, MSE is actually 6.75% over 300k.

    Robert Bou-Hamdan
    Mortgage Adviser

    http://www.mortgagepackaging.com.au

    Investor Links

    Profile photo of TerrywTerryw
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    @terryw
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    Post Count: 16,213

    Thanks Rob

    Terryw
    Discover Home Loans
    Mortgage Broker
    North Sydney
    [email protected]

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of MortgagemanMortgageman
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    @mortgageman
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    Post Count: 164

    Companion Credit Union has the cheapest line of credit I know of at 6.7%.

    Cheers,

    Cameron Perry
    Accredite Mortgage Consultant
    F.R. Perry & Associates
    Ph (03) 9662 1999

    Profile photo of Robbie BRobbie B
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    @robbie-b
    Join Date: 2004
    Post Count: 2,493

    Hi Cameron,

    What is the minimum loan amount for that rate and are there any ongoing or annual fees?

    Robert Bou-Hamdan
    Mortgage Adviser

    http://www.mortgagepackaging.com.au

    Investor Links

    Profile photo of MortgagemanMortgageman
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    @mortgageman
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    Minimum loan amount $50,000

    Monthly Admin Fees $10

    No application fee for loans above $100,000

    Cheers,

    Cameron Perry
    Accredite Mortgage Consultant
    F.R. Perry & Associates
    Ph (03) 9662 1999

    Profile photo of Robbie BRobbie B
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    @robbie-b
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    Sounds like we have a winner. I don’t have dealings with CCU so I never knew of this product. I will have to get accredited! :)

    Thanks for the info.

    Robert Bou-Hamdan
    Mortgage Adviser

    http://www.mortgagepackaging.com.au

    Investor Links

    Profile photo of Richard TaylorRichard Taylor
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    @qlds007
    Join Date: 2003
    Post Count: 12,024

    The new RAMS product may also have a bit of mileage.

    Cheers Richard
    richard at castlewhite.com.au
    Email me for details of our Qld wrap CD which gives you a full Installment Contract.

    Richard Taylor | Australia's leading private lender

    Profile photo of pfsfinancepfsfinance
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    @pfsfinance
    Join Date: 2004
    Post Count: 171

    Been doing a bit of research today. Yes Home Loans has one 7.09% minimum $50,000. Can have up to 4 splits. no monthly or annual fees. App fee $395

    State Manager

    Wholesale Mortgage Lender that deals only with brokers.

    20 years in Finance Industry

    Profile photo of SalubriousSalubrious
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    @salubrious
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    Post Count: 252

    Homeside, 6.62% No strings to 250k then 6.5% 250k/500k.

    We are all made from Stars.

    Profile photo of Richard TaylorRichard Taylor
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    @qlds007
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    According to my Homeside interest rates the Peak perfromance product 7.47% <150K & 7.27% >150K.

    Cheers Richard
    richard at castlewhite.com.au
    Email me for details of our Qld wrap CD which gives you a full Installment Contract.

    Richard Taylor | Australia's leading private lender

    Profile photo of SalubriousSalubrious
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    @salubrious
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    I understand Richard, but the old saying is “it isn’t what you know, its who”! I just wrote the loan for a mate of mine.

    We are all made from Stars.

    Profile photo of Robbie BRobbie B
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    @robbie-b
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    Post Count: 2,493

    Salubrious, you are dreaming. HomeSide would not do this rate on a standard loan or LOC. Qlds007 is spot on for LOCs.

    Their lowest variable rate is 6.76% and lowest 1 year fixed intro is 6.39%.

    Why don’t you post your company name, your name and contact details so I can send you all my old clients??

    I personally think you have an old rate sheet and missed the last two or three increases. I would love for you to prove your ‘claim’.

    Oh yeah, if no-one believes me, check the Cannex website as they have nothing even close to this ‘claim’.

    http://www.cannex.com.au/

    Robert Bou-Hamdan
    Mortgage Adviser

    http://www.mortgagepackaging.com.au

    Investor Links

    Profile photo of SalubriousSalubrious
    Member
    @salubrious
    Join Date: 2004
    Post Count: 252
    Originally posted by The Mortgage Adviser:

    Salubrious, you are dreaming. HomeSide would not do this rate on a standard loan or LOC. Qlds007 is spot on for LOCs.

    Their lowest variable rate is 6.76% and lowest 1 year fixed intro is 6.39%.

    Why don’t you post your company name, your name and contact details so I can send you all my old clients??

    I personally think you have an old rate sheet and missed the last two or three increases. I would love for you to prove your ‘claim’.

    Oh yeah, if no-one believes me, check the Cannex website as they have nothing even close to this ‘claim’.

    http://www.cannex.com.au/

    Robert Bou-Hamdan
    Mortgage Adviser

    http://www.mortgagepackaging.com.au

    Investor Links

    I have nothing to prove to a Mortgage Broker/Manager nor anyone else for that matter, I simply answered a question. Once again, for the hard of hearing 6.62%.

    Oh,and before I forget, is it your right to lable me a dreamer for quoting a lucrative deal that has been contracted between myself and a mate? You know nothing about me, nor who I am, would that be fair to say?

    I hope this topic is locked before your slander goes any further……….

    With respect to “personally”?

    I dont care what you think, theres always someone out there that can out-perform you and me put together so deal with it.

    We are all made from Stars.

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    Not a matter of out performing anyone.

    Robert and I just dont believe you.

    Cheers Richard
    richard at castlewhite.com.au
    Email me for details of our Qld wrap CD which gives you a full Installment Contract.

    Richard Taylor | Australia's leading private lender

    Profile photo of SalubriousSalubrious
    Member
    @salubrious
    Join Date: 2004
    Post Count: 252

    That’s OK

    We are all made from Stars.

    Profile photo of Robbie BRobbie B
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    @robbie-b
    Join Date: 2004
    Post Count: 2,493

    How sensitive are you? How can anyone consider ‘dreamer’ as an insult? Screaming “slander” is also ridiculous. See my comments for what they are… merely challenging your ‘claim’.

    You stated 6.62% under 250k and 6.50% up to 500k. I have very strong contacts in HomeSide and I know this cannot be done. Regarding there always being someone out there better, I do not doubt this but that person has not been found today.

    I discovered long ago that much of what is stated on the internet is untrue. I also discovered that those who hide behind a screen tend to scream ‘abuse’ when challenged to prove claims they make.

    The difference between you and I is that I can support comments I make with fact and I do not hide behind a screen. I am not abusing or slandering you salubrious – I merely think you are dreaming when you believe you wrote a Line Of Credit recently at those rates through HomeSide regardless if it was a friend or employee of the company.

    Robert Bou-Hamdan
    Mortgage Adviser

    http://www.mortgagepackaging.com.au

    Investor Links

    Profile photo of SalubriousSalubrious
    Member
    @salubrious
    Join Date: 2004
    Post Count: 252

    Would you send me some business if I can prove it Rob? Also, I would like for you to pay for my next night out on the town with some clients as a wager, is that fair?

    :-)

    We are all made from Stars.

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