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Hi

We had a guy round the other day who was an independant mortgage adviser - who supposedly will help you choose the best on the market. For some reason he went straight for one lender as the "best" and showed all calculations from this lender.

A good investment the next day was a mortgage magazine which showed the variety of rates for variable, fixed, etc. After a bit of research it is easy to see where the best rates can be found. It was certainly not the company that the independent adviser chose.

Makes you wonder how independent that independents are!

Steve

ABCDiamond

Hi Steve
I agree. I think they go for the ones that are less work.
Although sometimes the fees can make a difference too, and they should take that into account. Did you know that it only takes a two week course and $30,000 to become a Mortgage Broker.

If you are looking at Fixed rates, St George are pretty good at the moment.

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Hi ABC - yes I had seen that. Haven't made my mind up yet deal I want yet - fixed, variable, or offset.

Steve

ABCDiamond

If you go variable, then make sure you get a 100% offset facility.
That is where if you have a $100k mortgage, and $50k in the offset savings, you only pay interest in the remaining $50k.

As opposed to the other offset accounts where they may offset $50k worth of interest at say 2.5%. You need to read the small print on some of these !!

I wish I knew where rates were going to end up

evorobin

Do you know the name? we are sorting out our first mortgage this week although we already own the house (long story tbh). 100% offset seems quite promising, will have to learn quite a bit before Wednesday I reckon:scared:

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My resaerch came from a website given in the magazine - here is the link.

http://www.yourmortgage.com.au/rates...egory=termloan

With a bit of work you can get the data into Excel and sort it how you want it to find the deal what you want. Hope it helps.

Steve