How about the following for a great new loan (out for a few weeks now)…
* 6.37% rate for loan amounts of $300k or more
* 100% offset account
* $600 application fee
* $10 monthly account keeping fee
* No valuation fees regardless of the number of
security properties used, or their value
* No additional legal fees, settlement fees or fees for the sake of having feesIntroductory Rates can also apply….
* 5.99% variable rate for 12 months
* 100% offset account
* $600 application fee
* $10 monthly account keeping fee
* $300 variation fee available after 12 months to any non-introductory productOR…
* 5.99% fixed rate for 12 months
* $600 application fee
* $10 monthly account keeping fee
* $300 variation fee available after 12 months to any non-introductory productNote: Some variations of the above may occur depending on individual circumstances.
When I grow up, I want to be a storm trooper!
Better one:
7.04% variable
No application fee
No valuation fee
No account keeping fees
No fees to split or top-up your loan
No fees for Phone and Internet banking
Unlimited transaction on offest account ( EFTPOS, ATM etc )“Looking forward to the day when I can tell the boss where to go”
Yeah, I can see how 7.04% is better than 6.37% or 5.99%.
I must have missed something!
When I grow up, I want to be a storm trooper!
I believe personally that the other attributes outway the slightly higher interst rate.
“Looking forward to the day when I can tell the boss where to go”
On a $300,000 loan, interest only payments equate to…
Loan 1: 7.04% = $1,760.00 per month (no fees)
$2,010 more than Loan 2 in one year and $3,150 more than Loan 3 in one yearLoan 2: 6.37% = $1,592.50 per month ($720 first year and $120 additional years)
$1,140 more than Loan 3 in one yearLoan 3: 5.99% = $1,497.50 per month for 12 months and then $1,592.50($720 first year, $420 second year and $120 additional years)
Cost over 5 years including fees….
Loan 1: $105,600
Loan 2: $96,390
Loan 3: $95,910
This all seems pointless when you could just take an interest free loan!!!
I have to ask Myydral, did you use a mortgage broker?
When I grow up, I want to be a storm trooper!
I have already started the ball rolling on an interest free loan.
“Looking forward to the day when I can tell the boss where to go”
Congratulations!!!
You will be SO MANY TIMES BETTER OFF!!!
I would be interested to hear how it goes.
When I grow up, I want to be a storm trooper!
Robert,
Can you refinance with Residex, or is it new loans only. I still owe $180K on my PPOR which is the only loan I have at the moment as I cashed in the IP to pay down the PPOR. The house and land cost me $650K so I guess owing only $180K is a pretty good position to be in, current valuation circa $800K.
I’d love to refinance to interest only, but I think the 5 year lock in might stuff me up as I want to discharge my mortgage in about 2 years and am paying P&I.
I think you know who I’m with, Gateway CU on 6.5% standard variable with no fees (except $2 to join the CU) and a full offset account.
Cheers,
Michael.I think you are referring to Derivex. Ask Simon (Mortgage Hunter) from the forum as he is the only one accredited at the moment. He is in trouble on Friday!!!
hehehehe
When I grow up, I want to be a storm trooper!
Doh!
Yes, Derivex not Residex… Just getting my “…ex’s” mixed up.
I’ll wait and see if Simon spots this thread and pitches in.
Thanks,
Michael.Yes you can refinance with Derivex. If you have more questions – try this http://www.ifhl.com.au
“Looking forward to the day when I can tell the boss where to go”
Myydral,
Links no good, you sure that’s it?
Cheers,
Michael.Website is being updated. Hence, ask Simon by email.
When I grow up, I want to be a storm trooper!
Try this – http://www.derivex.com.au
“Looking forward to the day when I can tell the boss where to go”
Most of the links off that page are also dead. The website is being updated!
Contact Simon by email!!!
When I grow up, I want to be a storm trooper!
Rob is right. The website is mostly down whilst it is being completed over the next few days.
I am happy to answer any questions or you can try again perhaps on Friday?
Kind regards,
Simon Macks
Interest Free Home Loan Agent
http://www.mortgagehunter.com.au
0425 228 985Fully Accredited With Derivex PTY LTD and IFHL PTY LTD
***Ask about our Interest Free Home Loan***
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Rob
What LVR?
Is mortgage insurance payable?
Is it a full financial or low doc?
Do they lend to company/trust structures?Keep smiling
Felicity
Originally posted by FW:Rob
What LVR?
* Maximum 95%Is mortgage insurance payable?
* Kicks in over 80%Is it a full financial or low doc?
* Full doc loan. Low doc is out of the market at 7.32% up to 80% (not competitive)Do they lend to company/trust structures?
* Depending on purpose, ie: for residential property, YESWhen I grow up, I want to be a storm trooper!
Thanks Rob, I always like to know what’s out there!
Keep smiling
FelicityAlways a please WQ (Wrap Queen!).
_____________________________________________
The poster formally known as The Mortgage Adviser
When I grow up, I want to be a Storm Trooper!
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