FoxyRuthie

Hi there

Can I ask how long you have to be in Oz before you can get this mortgage and how long you need to have been in employment? It certainly looks good to me!

Nomore

We were with Rams, total rip-off, don't use them.

We have changed to Bankwest. Though we had to pay a nasty penalty fee

northernbird

We went with Homeside which is part of NAB. We used a broker and he was wonderful and got us a great deal.

spottydog

Not necessarily true. We bank with Commonwealth as they were easy to set up from the UK. I picked up my employment contract (OH hadn't got a job) and walked over to our branch. 24 hours later we had a mortgage confirmation for 4 times my salary and I didn't even start work for another 2 weeks.

Timvic

Hi,

check these out www.loanaustralia.com.au .

I use these and it was a simple process.

geordie downunder

A broker will not get you a better deal,it is advertising crap.The bank makes money on the spread.A simple example would be they pay 5% for money on deposit,and lend it to you at 7.5%,the spread is 2.5% for them.

A broker will get you the same deal,only the bank spread is then 2% and the broker gets 0.5% as his trailing commission,as well as a percentage of the loan upfront.None of the banks like the broker system,it costs them too much and will probably be phased out.

Go to the bank and discuss it with them,play them off against each other.

At the moment NAB have offered me 7.14%,Westpac 7.15% and CBA 7.14 %,if I take out their wealth package,free credit card etc.The wealth package costs around $300 a year,that is $300 more than NAB wantGuess who gets the business if CBA (my present lender) don't drop their $300 cost.

Talk to them,they are in competition with each other for good quality credit at the moment.

geordie downunder

Forgot (old timers disease kicks in again) Cannex research loans,put cannex into google and you will be taken there.All the bank web sites will give you information on loans.

I think RESI usually has a good rate but you would need to use the comparison charts to see,check out their web site.

I wouldn't be 100% sure on the cannex star system,for years I used Suncorp as my margin lender .A margin loan is a mortgage on shares with the shares as security,rather than a mortgage on property where the property is security.Cannex never rated them,yet any advert in the paper was undercut by 0.1% by Suncorp,all I had to do was ring their 1800 number,tell them the rate and the newspaper carrying the ad,and the loan was given at best advertised rates minus 0.1%.

ME bank are also good but seem to be losing their edge lately.

The comparison charts give you the full cost of the loan over a given time period IE 25yrs.A loan with an interest rate of 7.14% and monthly charges may work out more expensive than a 7.6% rate with no monthly charges over the given time period