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Who do you have a mortgage with?


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#1 ~steph~

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Posted 05 July 2013 - 04:45 PM

We are looking at refinancing. Who do you have your mortgage with? Do you like them?

I am getting so confused trying to work out who to go with! We currently bank with one of the big fours, however we are being ripped off big time compared to some of the other offers out there. I would go to a mortgage broker but from what I can establish they don't look at all the offers out there, just the ones they get commission through, which is fair enough, but makes it harder to compare.

Does anyone know of a completely unbiased, well as close to unbiased as possible, website that compares home loans?
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#2 Rain...

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Posted 05 July 2013 - 07:00 PM

I dont have a mortgage, so am no help, but i know heaps of people have got betting deals through their current bank by just asking for a better interest rate, and telling them you are thinking of moving money elsewhere.

My sister got 0.75 interest rate drop off their standard variable home loan by just asking!

Goodluck

#3 ~steph~

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Posted 05 July 2013 - 07:08 PM

QUOTE(Rain... @ Jul 5 2013, 07:00 PM) View Post

I dont have a mortgage, so am no help, but i know heaps of people have got betting deals through their current bank by just asking for a better interest rate, and telling them you are thinking of moving money elsewhere.

My sister got 0.75 interest rate drop off their standard variable home loan by just asking!

Goodluck


Thanks! We already get a discount as I am a staff member, but I can still get a better rate elsewhere!! I am going to go back to the bank we are with but I am not overally hopefully they will give us what we can get elsewhere.
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#4 beachgurl

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Posted 05 July 2013 - 07:15 PM

Brokers have to disclose the commissions they receive from each lender under the new rules so working with one is now very transparent. Generally they can't offer building society loans or Internet loans. You will find a cheaper loan (interest rate wise) on an Internet deal but check the comparison rate and the fine print on these.

Some brokers also get volume discounts as they write so much for one lender. My broker is trying to get me a 1pc discount off the standard variable from one of the big4.

My view is a little biased as I used to be a broker. The more educated you are, the better deal you'll get. Look on the comparison websites, meet with a broker and ask them what they can do for you and get them to explain the different products.

#5 flowerrose

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Posted 05 July 2013 - 07:30 PM

We're with ANZ at 1% below variable, I'm not sure how competative that is nowadays. It was negotiated by a broker who then got shirty with us for early payment and refinancing on an investment loan without him.

#6 aChocLover

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Posted 05 July 2013 - 07:40 PM


We're with Sunc0rp.
We negotiated an additional .7% off our already .3% off their variable rate due to having a number of policies with them (mortgage, insurances etc).

TBH, we haven't really looked around so I don't know how we're doing comparatively nowadays.

We have 4 offset accounts so all our money is moved between those accounts and offsets the mortgage. We have a redraw facility if required etc. I like their policies for insurance and we've never had a drama with claiming etc, so for us, 'service' is also a key factor in us staying.

#7 Daybreak

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Posted 05 July 2013 - 07:46 PM

Ours hasn't exactly started yet as settlement is not until August, but we are with Choice Lend. We went through a broker, but I'm pretty confident this will be good as apparently it's the same as the broker themselves has! Also, they've already told us that in 2 years (when the fixed part is over - we have half fixed half variable) they will reassess and see if there is something better then.
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#8 ~steph~

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Posted 05 July 2013 - 11:37 PM

Hey Beachgurl, I had a feeling someone on here was a former broker.

Sadly I get a .9% discount at my current lender/employer and we are STILL paying more than elsewhere without a discount!

I have only come across one lender so far that has been willing to try and actually entice me in by saying he would waive the establishment fee. Not one has been willing to say we can do a better rate, or we will waive the monthly fees, except when they start talking to me about packages that would cost us $300-$400 a year that give automatic interest discounts!

Maybe we should go to a broker, but how do you work out which is a good one? We don't want to spend the next two months working on this!
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#9 bluenomi

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Posted 06 July 2013 - 10:32 AM

We are with ING and haven't had a single issue. The rate has always been good, we get every cut in full and it's always been lower through than the big 4.

We went through a Mortage Choice broker when we got it, saved us the leg work and didn't cost us anything either.
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#10 Mel B

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Posted 06 July 2013 - 11:47 AM

We are with St George. Immediately after we got the mortgage they merged with Westpac. So no, we aren't happy tongue.gif

I have several friends who work for big 4 banks and none of them have the mortgages with their employers because even with staff discounts they can get a better deal elsewhere.

Our rate is .9% lower than standard variable I think. We have just passed our "lock in" period so we'll be looking around to refinance shortly.

We used a broker recommended by a friend. Actually I think we spoke to at least 2 brokers, plus we went direct to the bank we were with at the time for a quote.
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#11 Amelia Jane

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Posted 06 July 2013 - 10:20 PM

QUOTE(bluenomi @ Jul 6 2013, 10:32 AM) View Post

We are with ING and haven't had a single issue. The rate has always been good, we get every cut in full and it's always been lower through than the big 4.

We went through a Mortage Choice broker when we got it, saved us the leg work and didn't cost us anything either.


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#12 Gretch

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Posted 07 July 2013 - 09:13 AM

We're with a building society (Newcastle Perm) and have had no issues. Everyone in my family has their mortgage there! The rate is low and they are fantastic to deal with.

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#13 Guest_Windsor_Guest

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Posted 07 July 2013 - 02:50 PM

We're currently with Defence Bank as we had issues financing the build and as we already had the land loan with them they proved the most accommodating. Once we're finished with our lock in period though we'll be switching to another bank, Newcastle Perm. most likely as their rates are good and other family members have had great experiences with home loans and investing.

#14 Jo P

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Posted 07 July 2013 - 05:22 PM

We are with members equity. They have been really great to deal with. Interest rates are good. We currently have partial locked interest rate at a good rate. We do all our banking with ME now. Highly recommend.
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#15 Camilla

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Posted 07 July 2013 - 06:55 PM

Australian First Mortgage for us. We went through a broker at Yellow Brick Road and that was good for us.
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