Hi all,
First post,
Just curious about the package offerred by homepath.com.au (seems linked to the CBA).
I am thinking of re-financing an IP through them and hence am hunting around.
Other suggestions most welcome.
Need2Suceed.
You’re right there, Homepath is a no-frills subsidiary of CBA.
“Looking forward to the day when I can tell the boss where to go”
Very basic no frills product. Statements biannually. Redraw by fax within 24 hours.
Not a great reputation for settling quickly but this isn’t an issue with a refinance where a few weeks late doesn’t matter.
Cheers,
Simon Macks
Mortgage Broker
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
also they will not do loans with trusts.
which is a bit of a bummer when i guess most people on here would like to buy multiple properties and trusts are the best way to go for this situation.
Thanks for your responses. esp about trusts.
cheers
hi all
snowboarder i use homepath all the time for loans in Australia, all of my properties are held in a family trust. they know this they have seen my financials.
But they will not loan for Companies. So maybe you have a corporate trustee ?
Homepaths product is great lowest interest rates around, no application costs and no valuation fees no monthly fees and low exist costs. But they drive you crazy !!! so if you can put up with incompetence i thoroughly recommend them.
allow 2-3 weeks more than what they tell you.Another thing they don’t do is Fixed rates, but a few years ago they continued to lend to me even when other banks said no.
regards westan
I find +ve cashflow deals in New Zealand which I sell to other investors. To be on my database send an e-mail to [email protected]
Thats interesting Westan when you mention about trusts. I recently looked @ homepath for a loan for use in a trust, with me as an individual trustee rather than corporate and they told me they do not support trusts full stop.
Just out of curiosity, I phoned them back a few days later just to make sure that they didn’t, as I thought they might of been mistaken. I spoke to a team leader and after some investigation he also confirmed they don’t support trusts either with individual or corporate trustees.
So how the bloody hell did u manage it… haha..
Well done, next time I get a loan I will try with Homepath a bit harder !Cheers
Rob
I was to use homepath for a loan but found the process totally frustating. It took 3 months to get to the stage of approving morgage documents. If you are an employee with a salary it would be okay but as a self employed person I could not handle the red tape and numerous bungles. Have financed locally and found it a much more pleasant experience
Rob. Just don’t tell them about the trust. Borrow in your name. The title will be in your name, not the trust. I beleive if you are the trustee, then just borowing in your name on behalf of the trust is fine (Have done it myself).
Terryw
Discover Home Loans
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Well done, next time I get a loan I will try with Homepath a bit harder !
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