HomeStar Finance anyone?

Discussion in 'Loans & Mortgage Brokers' started by Chris21, 15th Jul, 2021.

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  1. Redwing

    Redwing Well-Known Member

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    I forgot Tic-Toc loans who are apparently backed by Bendigo and Adelaide Banks

    upload_2021-7-19_17-38-4.png

    upload_2021-7-19_17-34-53.png

    3 Year Fixed (interestingly the comparison rate drops)

    upload_2021-7-19_17-37-17.png
     
    Redwing, 19th Jul, 2021
    #21
  2. Redwing

    Redwing Well-Known Member

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    @Chris21

    What did you wind up doing?
     
    Redwing, 20th Jul, 2021
    #22
  3. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    These online lenders are fully functional for a "Ma n Pa" loan where one will not do any form of investing.

    ta
    rolf
     
    Rolf Latham, 21st Jul, 2021
    #23
  4. Redwing

    Redwing Well-Known Member

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    Agreed Rolf

    Hopefully, the below is correct as a comparison of these types of loans? I was just looking at owner-occupier, variable, or fixed for 3 years (P&I)

    By headline rate

    upload_2021-7-21_12-42-51.png

    By comparison rates

    upload_2021-7-21_12-42-24.png

    By LVR

    upload_2021-7-21_12-44-8.png

    Nano seems to be the new kid on the block Founded by ex-Westpac executives

    Nano launches dirt cheap loans available in less than 10 minutes
     
    Redwing, 21st Jul, 2021
    #24
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  5. Redwing

    Redwing Well-Known Member

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    Redwing, 21st Jul, 2021
    #25
  6. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    Comp rates arent a useful tool to compare actual cost for a variety of reasons.

    I know the gov brought in to simplify real cost, but its like comparing oranges and carrots, which is why there are a bunch of disclaimers in the CCR quotes..

    Moderately useful for smaller loans

    ta
    rolf
     
    Rolf Latham, 21st Jul, 2021
    #26
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  7. Redwing

    Redwing Well-Known Member

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    Redwing, 21st Jul, 2021
    #27
  8. Chris21

    Chris21 Well-Known Member

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    Since my goal is debt recycling on PPOR and use funds to invest in property / share - I might decide to stay with AMP or move to one of the major provider - who offers these features like NAB . Haven't made a decision yet.
     
    Chris21, 31st Jul, 2021
    #28
  9. ChrisP73

    ChrisP73 Well-Known Member

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    If you're serious about debt recycling or pulling equity to invest in property or shares, I'd suggest AMP through a good broker is a far better bet than NAB. NAB has some good nieche products but I wouldnt touch their home loans (been there). Just my opinion.
     
    ChrisP73, 31st Jul, 2021
    #29
  10. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    NAB dont have a Master Limit Product

    ta
    rolf
     
    Rolf Latham, 31st Jul, 2021
    #30
  11. Chris21

    Chris21 Well-Known Member

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    Appreciate for your suggestion.

    I am already with AMP. The limitations with them is that beyond 100k , they need contract of sale (residential property) or statement of advise (stocks) and equity monies can’t be used as deposit for commercial property. I have been told that NAB and Macquarie does not have those limitations.
     
    Chris21, 1st Aug, 2021
    #31
  12. Chris21

    Chris21 Well-Known Member

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    True. But they allow split changes and also pay down and redraw to enable debt recycle. At least that what I have been advised my current broker
     
    Chris21, 1st Aug, 2021
    #32
  13. ChrisP73

    ChrisP73 Well-Known Member

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    That's odd. AMP professional package? I've not come across any of those constraints.

    Check with another broker?
     
    ChrisP73, 1st Aug, 2021
    #33
  14. Chris21

    Chris21 Well-Known Member

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    Yep. Will do
     
    Chris21, 3rd Aug, 2021
    #34
  15. Redwing

    Redwing Well-Known Member

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    Redwing, 26th Aug, 2021
    #35
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  16. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    Rolf Latham, 27th Aug, 2021
    #36
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  17. Lindsay_W

    Lindsay_W Well-Known Member

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    Lindsay_W, 27th Aug, 2021
    #37
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