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  1. #1
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    Default Which bank are you with?

    We are in the process of buying another house. Our last one was with CBA and while they are easy and all I don't like that they are so big and their interest rates really aren't very competitive. I also feel like the bank is getting to big and loosing interest in their clients.

    We have since been going with Connective Home loans which are a small lender. And their interest rate is 6.52% and I like that every time you call you don't deal with a machine, straight to a person. However we have lost out on 2 properties already because the process is SO slow even though we have pre-approval and are very strong buyers finnancially and aren't buying anything expensive.

    We are planning to buy another house that we can pay outright in 5 to 7 years so we can't be locked down.

    So my question is:

    1. What bank are you with and are you happy?

    2. What interest rate are you paying?

    3. Variable or Fixed or both?

    4. Was the process a pain in the bum?

    5. Pro's and Con's with your bank?

    TIA guys!!!

  2. #2
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    bump... Anyone

  3. #3
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    I can't tell you who is good, but stay away from RAMS. I don't know if it's the company or if we just got a dud broker, but we had nothing but trouble with them.

  4. #4
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    We're with Westpac and our rate is 6.56% on two variable loans - one is an investment loan and the other just a straight home loan.

    The process was fairly painless for us - despite not having 'ideal' circumstances (DH being self-employed fairly recently etc).

    The main pro for us is that we have had a few home loans through them which made it easier to get our current one. We also have our own banker which really does make banking a lot more pleasant and, I think, flexible.

  5. #5
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    1. What bank are you with and are you happy?
    RAMS, yep.

    2. What interest rate are you paying?
    6.78%

    3. Variable or Fixed or both?
    Variable

    4. Was the process a pain in the bum?
    It was a bit involved, but I think that was due to our circumstances. DH is self-employed, and I was on mat leave. We also used DH's mum's property as our "deposit". I think without all of those things, it would have been quite simple.

    5. Pro's and Con's with your bank?

    Not really anything major for either column. Nothing to complain about, but nothing to rave about either.

  6. #6
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    We have 2 one with Amp and one with Aussie, we were with Westpac originally but this was years ago, never had any issues with westpac.
    Amp were incredibly slow, very painful process.
    Aussie were good, quick application process and easier to deal with.
    Interest rates I don't know off top of my head, but they were lower than the big 4 and pretty competitive.

  7. #7
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    1. What bank are you with and are you happy?
    St George.

    2. What interest rate are you paying?
    6.56%

    3. Variable or Fixed or both?
    Variable. A ll portfolio loans, no home loans

    4. Was the process a pain in the bum?
    This month we bought our 4th property with St George, and our 1st since they have been taken over by Westpac, and it was very much a pain in the bum. We had a 60 settlement and we had to ask for a 5 further days as the bank was mucking about so much. Granted our situation isn't simple (they had to value our other properties, some of them are in our company name, and it was also over Christmas and New Year). But I was peeved they couldn't get their act together in 60 days.

    5. Pro's and Con's with your bank?

    Pro's - we are on personal terms with our lending manager, and he usually just asks "how much" and makes it happen.

    Con's - There isn't a branch in every city. Which is quite the con when you move as much as we do.


 

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