Home Offset mortgages
 

Hi Guys

Can anyone recommend the best offer out there on Offset mortgages.
We are with members equity bank on 9.19% rate .
ANZ has nice discount on Professional and Breakfree ac.
Any other bank worth to consider ?
Greg

Re: Home Offset mortgages
 

Hi greg, If I were you I wouldn't restrict my choice to an offset account. Just make sure that your account has unlimited free redraws.

When your pay comes in, you can pay it all into your homeloan. You can use your credit card for day to day transactions, paying off the balance each month with a redraw from the homeloan. Doing it this way is effectively the same as an offset account (but with a few manual transactions along the way).

This way, you are not restricting your choice of loans to "only those with an offset".

yourmortgage.com.au provides a good comparison of the current Aus homeloan offerings....look for ones with small or zero set up fees, no ongoing costs, and unlimited free redraws.....

cheers

Re: Home Offset mortgages
 

8.94% with CBA, though there is a $300 annual fee which is largely offset by free banking.

Re: Home Offset mortgages
 

Also might wanna consider part fixed and variable.

Re: Home Offset mortgages
 

Try www.onedirect.com.au

They are part of ANZ - current variable rate is 8.61%

Re: Home Offset mortgages
 

Thanks for all info Guys !
I start thinking that maybe line of credit would be better for us .:huh:
Is this good loan for someone who purchased block of land and want to build a house on it ?
One more time thank you !

Re: Home Offset mortgages
 

Thank you !
Is this line of credit account ?
Would you reccomend any bank ?
I have found Pacific Mortrage Group on yourmortgage.com.au ,to be very good ,would you know much about them ?
Greg

Re: Home Offset mortgages
 

What profession are you in?

Check the comparision rate.

Check the exit fees. I see all to often people think they are getting a 'cheap' mortgage only to be stung like crazy later down the line.