Sale

People on a fixed rate can apply for a variable rate, however your current lender is likely to charge a hefty break free for terminating your fixed rate early, which might not make it cost-effective for you to switch. It is best to work out what these break fees are first so you know what costs you are in for. Seek advice.

Mark Bristow -

05 May, 2017 -

1 min read

Sale

Switching lenders usually includes some costs, such as a discharge fee from your existing lender and upfront fees from your new lender, including application fees, settlement fees, legal fees and valuation fees.

Mark Bristow -

05 May, 2017 -

1 min read

Sale

RateCity cannot determine this, as we are not privy to the different credit policies of each lender. Please seek advice or speak to a lender directly.

Mark Bristow -

05 May, 2017 -

1 min read

Sale

Refinancing is when you change your home loan from one loan to another – provided either by the same lender or by switching to a different lender. When you refinance, you are technically paying out your old home loan early and starting up a new one.

Mark Bristow -

04 May, 2017 -

3 min read

Sale

The sale is only available to people wanting to refinance – you must already have a home loan. Additionally, customers cannot take up an offer from their existing lender, i.e. if you are currently with ING, then you can’t refinance to an ING product in the sale.

RateCity -

28 Apr, 2017 -

1 min read

Sale

Some loan products are limited, so it’s best to select your preferred choices at the start of the sale.

Mark Bristow -

04 May, 2017 -

1 min read

Sale

Unfortunately, the Switch & Save Sale is only for people who already have a home loan and want to refinance. There are thousands of other products on the ratecity.com.au site for first home buyers to consider outside of the sale event.

Mark Bristow -

05 May, 2017 -

1 min read

Sale

No. Refinancing your home loan is likely to save you a lot of money, but it is a big financial decision. You just need to select the product(s) you are interested in during the 40-hour sale. After this time, you’ll have 30 days to decide and submit your application.

Mark Bristow -

04 May, 2017 -

1 min read

Sale

Here we are asking you to estimate only. It’s often hard to get an accurate estimate of your property value. Some real estate websites such as Domain, Realestate.com.au and Onthehouse will give you an estimate, however be aware that a bank valuer might assume a lower estimate, so it can be a good idea to make your estimate slightly lower.

Mark Bristow -

05 May, 2017 -

1 min read

Sale

Lenders are likely to put variable rates up and down several times throughout the life of a loan. However, the discount provided as part of the sale should remain for the life of your loan. For example – if you are on a rate of 3.95% which includes a discount of 0.10% and your lender puts up their variable rate to 4.25% then you will be on 4.15%.

Mark Bristow -

05 May, 2017 -

1 min read

Sale

We are unable to give advice or make any recommendations on what product to pick.

Mark Bristow -

05 May, 2017 -

1 min read

Sale

RateCity -

28 Apr, 2017 -

1 min read

Sale

The Switch & Save Sale is Australia’s first industry home loan sale.

RateCity -

28 Apr, 2017 -

1 min read