Forums / Getting Technical / Finance / Cheapest Rate !!

Viewing 18 posts - 1 through 18 (of 18 total)
  • Profile photo of redwingredwing
    Participant
    @redwing
    Join Date: 2003
    Post Count: 2,733

    Found in an Atricle on Mortgage Brokers “liftout” in the paper.

    INVESTORS SPECIAL

    Credit Line available from 4.49%

    Interest Only up to 30 years
    NO this is not a honeymoon rate
    This product is ideal for, but not limited to
    * High Income borrowers
    * Highly geared investors
    * Mortgage minimisation
    * Coupled with an investment term loan

    Call Now******

    What’s the CHEAPEST you’ve found?

    I’ll call these people just for interests sake and check out the ‘conditions’
    REDWING

    “Money is a currency, like electricity and it requires momentum to make it Effective”
    Count The Currency With This Online Positive Cashflow Calculator

    Profile photo of calvin_thirty4calvin_thirty4
    Participant
    @calvin_thirty4
    Join Date: 2004
    Post Count: 556

    Please let us know As I am looking at one or two possible IPs and that kind of offer would come in very handy!

    Was that a WA offer or is it national?

    Cheers

    [email protected]

    Profile photo of Nat RNat R
    Member
    @nat-r
    Join Date: 2004
    Post Count: 224

    I thought ‘bait’ advertising was banned.

    My predicion is that it is bullsh!t….no credible, legal lender will advance money below the official cash rate of 5.25% (except honeymoon rates maybe)….why would a mortgage lender, other than your mum, lend you money at a rate below what they can get by depositing it with any one of the big banks?

    And if it some wierd offshore, foreign currency loan then run a mile.

    Profile photo of Mobile MortgageMobile Mortgage
    Member
    @mobile-mortgage
    Join Date: 2003
    Post Count: 913

    It’s a split loan, 50/50 max, The 4.49% applies to the LOC only, and the LOC must be coupled with a no frills term loan at 8.24%

    Regards
    Steven
    Mortgage Broker

    [email protected]
    http://www.mobilemortgagemarket.com.au
    Ph:0402483216
    Ph:1800 820 500
    VICTORIA

    PLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.

    Profile photo of Nat RNat R
    Member
    @nat-r
    Join Date: 2004
    Post Count: 224

    Based on your findings would you call that bait advertising ?

    Profile photo of Mobile MortgageMobile Mortgage
    Member
    @mobile-mortgage
    Join Date: 2003
    Post Count: 913

    Hi Nat,
    Yes I would, hence my reluctance to publish the name of the lender.
    Btw, I am not accredited with them.

    If it sounds to good to be true, then it usually is.

    Regards
    Steven
    Mortgage Broker

    [email protected]
    http://www.mobilemortgagemarket.com.au
    Ph:0402483216
    Ph:1800 820 500
    VICTORIA

    PLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.

    Profile photo of Stuart WemyssStuart Wemyss
    Member
    @stuart-wemyss
    Join Date: 2003
    Post Count: 598

    Hang on Steven… you are protecting a lender (by not mentioning their name) even when you disagree with their advertising strategy.

    If the lenders aren’t behaving as they should then call it as you see it. I will. Email me the name of the lender and I’ll post it.

    Is the lender Tonto?

    They are offering the rate on a LOC so they don’t have to disclose the Comparison Rate.

    They are preying on ill informed, less educated borrower. That is the lowest form of advertising. It really pisses me off.

    Here is another one…

    RAMS is selling lies!

    I refer to their website – http://www.rams.com.au/NextgenWeb/NGStandard/NGBlobRender.asp?blobid=744539103

    They say an offset will save $200,000. It is absolute crap and ASIC warned Westpac about this in late 2002.

    The media has a go at mortgage brokers but some lenders act very poorly.

    Cheers

    Stu

    Profile photo of gatsbygatsby
    Member
    @gatsby
    Join Date: 2003
    Post Count: 708

    Stuart,
    how the hell can you criticise someone for not disclosing someone who they believe to be shonky and not in the best interests of forumites? Good professional ethics protects people, it doesn’t require advertising sharks?
    Cheers,
    Gatsby!

    Profile photo of Stuart WemyssStuart Wemyss
    Member
    @stuart-wemyss
    Join Date: 2003
    Post Count: 598

    Hi Gatby

    I’m not sure what you are saying.

    I must say that I did not intend on having a go at Steven (or anyone on the forum). My point was to say that if lenders are not acting ethically then call it as you see it. If we make some noise about it and it helps one or two people then isn’t it worth it?

    If my opinion, staying quiet about something you see that you disagree with (and that could harm people) is not the best way forward. Advertising the practices of unethical business does not help them whatsoever.

    I feel passionately about ethical behaviour and it really annoys me when lenders (or any business for that matter) don’t act ethically.

    That was my only point. I hope on one took me the wrong way.

    Cheers

    Stu

    Profile photo of ADAD
    Participant
    @ad
    Join Date: 2002
    Post Count: 636

    I agree with you Stuart. No use holding the name back as this may not protect anyone but the lender or broker flogging this deal. If people are warned about the trap and still go ahead….well…….as my solictor says you can’t stop people from being stupid or doing stupid things………….[confused2]

    Enjoy
    AD [:o)]
    (Andrew)

    “Work joyfully and peacefully, knowing that right thoughts and right efforts inevitably bring about right results.”

    Profile photo of gatsbygatsby
    Member
    @gatsby
    Join Date: 2003
    Post Count: 708

    Hi Shaun,
    It’s just that when I read the wording (“You are protecting a lender by not mentioning their name”) it came across to me that one is ‘damned if you do or damned if you don’t?’ I apologize if I have misread your post but when I read Steve’s post I couldn’t see the rational conection in your address. Again, apologies if I have misinterpreted your post.
    Cheers,
    Gatsby!

    Profile photo of Mobile MortgageMobile Mortgage
    Member
    @mobile-mortgage
    Join Date: 2003
    Post Count: 913

    My reluctance to publish the lender name was to avoid giving them any exposure on this forum, but I can also appreciate Stuarts and Andrews’s point of view,

    I have been in contact with Stuart today,and he is aware that I did not perceive his comments as having a go at me,
    I passed the credit providers details on to Stuart last week, so we may well see this followed up in one of his excellent articles.

    In the meantime here the details,
    Goldstar Financial Services
    http://goldstar.net.au

    Regards
    Steven
    Mortgage Broker

    [email protected]
    http://www.mobilemortgagemarket.com.au
    Ph:0402483216
    Ph:1800 820 500
    VICTORIA

    PLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.

    Profile photo of AceyduceyAceyducey
    Participant
    @aceyducey
    Join Date: 2003
    Post Count: 651

    Don’t get annoyed – REPORT THEM.

    That way other people won’t get burnt.

    Cheers,

    Aceyducey


    In theory, there is no difference between theory and practice. But, in practice, there is.

    – Jan L.A. van de Snepscheut

    Profile photo of redwingredwing
    Participant
    @redwing
    Join Date: 2003
    Post Count: 2,733

    ???

    I’ve been away due to the birth of our new baby daughter, however i’ve contacted Goldstar and have requested some more information regarding thier advertisment.

    This thread has been intersting though…

    I had contacted Mobile Mortgage and advised him of the companies name and the fact i was ‘unsure’ of the conditions, but, that i would request ‘more information’…

    Not looking at a new loan at the moment, however i found the rate interesting to say the least..

    I’ll keep you all posted

    REDWING

    “Money is a currency, like electricity and it requires momentum to make it Effective”
    Count The Currency With This Online Positive Cashflow Calculator

    Profile photo of Mobile MortgageMobile Mortgage
    Member
    @mobile-mortgage
    Join Date: 2003
    Post Count: 913

    Hi Redwing,
    Congratulations on the birth of your baby daughter,

    Regards
    Steven
    Mortgage Broker

    [email protected]
    http://www.mobilemortgagemarket.com.au
    Ph:0402483216
    Ph:1800 820 500
    VICTORIA

    PLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.

    Profile photo of Ali GAli G
    Participant
    @ali_g
    Join Date: 2004
    Post Count: 99

    Congrats Redwing!! Hope you are getting some sleep!! [bigeyes][bigeyes]

    Cheers,

    Ali G

    Profile photo of CRUSADER1CRUSADER1
    Participant
    @crusader1
    Join Date: 2004
    Post Count: 19

    Hi Redwing
    I have looked into this deal offered by Goldstar
    It consists of splitting your borrowings into 2 loans – one at 4.49% and the other at over 8%.
    It depends on the principle amounts in each loan, the terms of the loans and several other factors. For some people it may be worthwile checking it out.
    However, I think the ad in the paper could have been misleading.

    hs

    Profile photo of redwingredwing
    Participant
    @redwing
    Join Date: 2003
    Post Count: 2,733

    Heinz..

    You got it exactly and ‘yes’ a bit of ‘bait’ advertising on thier part, hence my reluctance to post thier details on the forum untill i’d looked at their deal further.

    MM, Ali G and everyone else thanks for the messages of congratulations re my daughter..

    I’ve bought a rocking chair and a shotgun for my front porch and am looking forward to some interesting days ahead, however having a son and now a beautiful daughter [inlove] gives us some ‘balance’.

    Regards

    REDWING

    “Money is a currency, like electricity and it requires momentum to make it Effective”
    Count The Currency With This Online Positive Cashflow Calculator

Viewing 18 posts - 1 through 18 (of 18 total)

You must be logged in to reply to this topic.