davidw

Just to pass this on and seek confirmation. It seems Homepath (www.homepath.com.au) currently offer Australia's cheapest mortgage - 6.15% variable. Does this seem right and does anyone have any experience or opinions?

Thanks!

David

ABCDiamond

It looks like it is the cheapest according to
Cannex.

Homepath is owned by Commonwealth Bank.

Some rates quoted by Lenders are negotiable, so some of the others may be cheaper, but only a mortgage broker would have that info at hand.
eg: St George are quoted at 7.07%, but will do 6.57%

Wizard Home loans have a basic variable rate at 5.89%, although their standard variable is quoted at 6.49%

davidw

Excellent, many thanks, I will also try Wizard.

David

cookies

Useful that ABC........I went to see the Wizard rep in Wynnum earlier this week and I was qupted a rate of 6.49% - no mention was made of 5.89% - I wonder why?

Steve

cookies

I spoke to Wizard yesterday....they said they hadn't mentioned the 5.89% rate for me as it did not meet my requirements. Although it is a cheap rate, it has no flexibility:

No portability
No re-draw
No ability to repay additional amounts - either lump sum or monthly

They were probably right, as I want additional flexibility in any morgage that I get!

Steve

ABCDiamond

Thanks for the update info Steve,

There is always catch for something cheap.