HomeMate.com.au

This home loan product [Uhomeloan] is aimed directly at it main two Competitors, Westpac and CBA, because it is a mortgage refinancing only product.
Another giveaway is that the new home loans attract no fees on the standard variable loan.

Mortgage exit fees are the name given to deferred establishment fees, these fees are to offset bank costs for setting up the loan in the first place.
They have a long standing history of being charged, even though one would reason that this was the purpose of charging interest rates [to cover the cost of such work.]
By deferring the establishment fees, and letting them disappear after the loan was 5 years old, or even less, it had three effects.

Some things in mortgage lending never change. In an ongoing saga the Big Four banks have again been belted in a customer satisfaction survey that puts them well behind credit unions and building societies.

Yes, Nab has had the best rates for a while now, and that has not given them the traction they were looking for, so they have added the “no exist fees” and “we’ll pay your banks exit fees if you switch your home loan to us” to the marketing mix, in an attempt to shake up the market, and change the centre of gravity.

Reserve Bank of Australia to cut home loan interest by 1 per cent to boost spending 2008 November 22 by admin The Reserve Bank of Australia, which was completed blindsided by the World financial crisis, has to reverse its decisions made in haste over the past few months. Mortgage interest  rates may drop by another 1 per [...]