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

RateCity -

28 Apr, 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

What we’ve done is work out how much you could save if you switched an average-sized mortgage from the average discounted variable rate offered by one of the Big 4 Banks to the lowest variable rate in our sale. We’ve then factored in the discharge fees, application fees and ongoing fees to work out the savings over a 15-year loan term. For more information, see our Assumptions.

RateCity -

28 Apr, 2017 -

1 min read

Sale

The current Switch & Save Sale is for home loans only. Keep an eye out for other events from RateCity in the future.

Mark Bristow -

05 May, 2017 -

1 min read

Sale

Yes. These deals have been created by the lenders specifically for the RateCity sale, and are not available elsewhere. That said, lenders sometimes run special offers at other times which might be similar.

Mark Bristow -

04 May, 2017 -

1 min read

Sale

The calculations are a model only, and not a prediction. The results are only estimates, whereas the actual amounts may be higher or lower. We cannot predict things that will affect these results such as changes in interest rates and their differentials.

Mark Bristow -

05 May, 2017 -

1 min read

Sale

When you sign up to the Switch & Save Sale, you’ll supply some basic information about your current loan including...

Mark Bristow -

05 May, 2017 -

1 min read

Sale

Yes – there is one loan product that is available in the Switch & Save Sale for people who are self-employed. However, if this particular loan does not suit, you can look through RateCity’s other low doc loans.

Mark Bristow -

05 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

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

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

RateCity -

28 Apr, 2017 -

1 min read

Sale

All the lenders participating in the Switch & Save Sale are regulated by either the Australian Prudential Regulation Authority (APRA) or the Australian Securities and Investments Commission (ASIC)...

Mark Bristow -

04 May, 2017 -

3 min read