# Refinancing with Beat Home loan



## Fab (20 March 2007)

I am currently thinking of refinancing my cba home loan to Beat home loan as my current loan interest rate is 7.32% with no fee whatsoever ( no redraw fee and so on) nevertheless beat home loan are offering me 6.85% variable + $20 per redraw fee and deferred establishment fee of $1450 for the first 5 years. Still on a loan of $438 000 that is a saving of over $2200. It sounds appealing to me nevertheless as they are new I am wondering how reliable and good they are . I am wondering if someone could comment on them or maybe there is a better deal out there. 

Thanks


----------



## The Y-man (20 March 2007)

I have no experience with them, but securitised lenders such as Beat generally have tougher requirements on your serviceability than others.

Depending on your financial situation and how long you intend to have the loan for, there _may_ be better packages out there. 

I would suggest talking to a _good_ mortgage broker to discuss you options. 

Cheers,

The Y-man


----------



## Fab (20 March 2007)

The Y-man said:
			
		

> I have no experience with them, but securitised lenders such as Beat generally have tougher requirements on your serviceability than others.
> 
> Depending on your financial situation and how long you intend to have the loan for, there _may_ be better packages out there.
> 
> ...




Thanks. Any good mortgage broker in Melbourne area (south east)?


----------



## The Y-man (20 March 2007)

Fab said:
			
		

> Thanks. Any good mortgage broker in Melbourne area (south east)?




Will PM you. (or am I allowed to post names here?)

Cheers,

The Y-man


----------



## Mofra (21 March 2007)

Fab - as a suggestion, if you do decide to stay with CBA, request a payout figure from 132224.

They will organise someone to call you back from a CRU - Customer Retention Unit. If you provide details of a better offer, they will often try to entice you to stay by offering an interest rate discount.

So even if you do decide not to refinance, you can still save a little year on year with your mortgage with a few phone calls. Worth the effort IMO.


----------



## Buster (21 March 2007)

Fab said:
			
		

> I am currently thinking of refinancing my cba home loan to Beat home loan as my current loan interest rate is 7.32% with no fee whatsoever ( no redraw fee and so on) nevertheless beat home loan are offering me 6.85% variable + $20 per redraw fee and deferred establishment fee of $1450 for the first 5 years.



Mofra's on the money, you'd be surprised what the 'Big Banks' will do to retain your cash flow..  *Be sure to ring Members Equity before you start quoting facts and figures to the CRU*, as I found ME to beat the rest of them hands down especially where fees are concerned.  ME can only lend to eligible members of various super schemes (Defence is one, didn't take too much notice of the others, although I seem to remember there were quite a few), however CBA probably wont know if you are eligible or not..   

Cheers,

Buster

P.S No, I don't work for them or have a brother in law etc etc.. I just got sensational service and support when I was in the 'Mortgage' whirligig..


----------



## mortgagechoice (2 March 2011)

Have you found out more about refinancing in this refinance home loan infographics?


----------

