What rate are you paying on your Variable Home Loan?

[Maruschke]

5.07% with Heritage, I love heritage! They pass on the full rate cute every time, unlike some of the other banks (grrr!!!).

[Karina]

Melbel, I guess as long as its going to save you money then why not change!

[Jewel]

Ours went from 6.060% to 5.060% last week.

[Yael]

We are 5.43% and Wizard (GE money) are not going to pass on any of the last rate cut.. They have sold to Aussie, and they are basically getting out of the home loan market. There is some post of their website about waiving fees for leaving them, but i'm not too sure about what our options are, so i'm waiting to have a meeting with our home loan guy next week, but looks like i'll be in the market for a new home loan.

Ok, for those that have their interest rate in the 5's - are you able to make f/nly and extra repayments? Do you pay ongoing fees, or only application fees?

[Maruschke]

Ok, for those that have their interest rate in the 5's - are you able to make f/nly and extra repayments? Do you pay ongoing fees, or only application fees?

I pay weekly, a bit more each week than is required, and I think our application fee was either $400 or $600.

HTH

[Karina]

Yael,
we're on 5.2% for our home loan. We're with a credit union and there are no monthly fees for it, although we had to link it to our savings account with the same credit union and they have been charging a $2 per month fee for the savings account.
When we applied for our loan, we applied for a "first home buyers home loan" and there were no application fees at all, then we changed from that loan to our current loan and we paid $200 to switch it over. I think normally there is an application fee but I'm not sure how much it is. We can pay monthly, weekly or fortnightly, and we have a redraw facility where you can redraw as little as $1 or as much as the entire amount available in your redraw. We pay ours fortnightly, it just comes directly our of DH's pay and the credit union puts it straight into the home loan account.

[maz]

I rang the bank and double checked...our home loan is actually 5.01% - an econmomiser loan. our repayments are now $999 a month.... : I am in shock!!!!! they have dropped $450 in a matter of 2 months.
We pay an $8 monthly fee and have not decreased our payment amount....Id rather redraw on it (it cost us $50) if I really need to other then that its staying put to get ahead. I know one of the terms of our loan is that we cant pay more then $10,000 extra into our loan per year...god I wish though!

[Yael]

Are any of you guys with BankWest? That is who we are thinking of changing to.. the Rate Tracker Ultra Home Loan.

They have it so that is it .9% lower than the average of the 4 majors - It is currently 4.9% for 3 years, and then after 3 years you change over to a 'normal' rate, but they also don't have an exit fee so you can re-evaluate then and change around.. Our mortgage guy said that average length of the loan was 3.5 years before people change.

[Danni]

Hey Yael, i highly highly recommend AMP.They are sooooooooo helpful with my ongoing many questions.

There is a $300 odd dollar application fee, then there are no monthly fees. It is free to pay fortnightly, weekly or monthly, and you can make any additional payments with no extra charge. You can make lump sum contributions or ask them to debit extra out of your bank account each week etc etc.

The extra money that is available in your account (redraw) is FREE to withraw at any time with no minimum to be withrawn.

And you get internet banking so you can see everything online

[mum3girls]

4.54%

[misty]

we have 5.19% with an extra 0.06% discount - so 5.13% With INGDirect. No other fees or charges, free redraw with no minimum or maximum. It is a pretty good package.

Mum of 3 girls - who are you with? that seems to be a very good rate.

[Danni]

thats the new amp interest rate

[Yael]

I can also go with ING, they are an aussie product.

[Danni]

Is ING govt secured?

[Shalou]

We are currently paying 5.19%