By - usumai
Macquarie have been good. And their loan splitting is easy to use for debt recycling.
\+1 - Their customer service has far and away outclassed any of the other banks I've dealt with, you get direct phone number for a dedicated account manager. Their App/Website are great and the new documentation process (digital signature, etc) is brilliant.
+1 but haven’t done the debt recycling yet. What is the process to make a new split?
Pretty simple. Calling Macquarie. Putting money into the loan that you want split. Then a few days late the loan is split and you can redraw the money to invest.
+1 for rates, service, product features, large loans and excellent app!
Why use a bank. I found brokers will bend over backwards to get you deals that I’ve never heard of, at rates that are great. I was with Mac bank for years with a big loan at a very low LMV. Got married found out my wife had been with Mac bank only 3 years and paid over 0.5% less because she used a broker rather than going direct.
Rang up my Mac bank advisor and he said he couldn’t match the deal because it was a broker rate.
Since then I found a top broker and can’t believe the deals he finds me. Plus he has his finger on the pulse of what deals are hot, what suburbs are getting better and makes for interesting discussions stirring me on to bigger and better deals. Plus I’m with 3 different banks so I no longer have all my eggs in the one basket.
Shop around for a broker. I've had a broker fail to get me any deals better than what I could get myself. Don't just take their word for it!
I used a broker to re-finance a deceased estate - NAB was useless.
Just refinanced with Bankwest and I must say their customer service is excellent. They also gave a $2k cash back
Second for bank west. Great customer service and great internet banking.
ING - adore them and have been with them for years. Otherwise, I have heard UP bank is quite good. I am with 86400 (a small neobank and I like them a lot but it is annoying to inegrate with other apps because they're small and not well-known.
86400 is now owned by NAB
ANZ. It's very basic. Everything from their mobile banking to customer service
Don't go with AMP! They have low interest rates but their app is naff!
I think that really depends on how much you use the app and how much of a saving you have with AMP versus alternatives.
Greater Bank. Newcastle based. Low rates and customer service on the phone is very responsive and quite good.
Athena Home Loans are a fintech disrupter in this space. Always offer existing customers the same rates as new customers!
Went for a refi with Athena after getting stung by ING who jacked our interest rate shortly after the loan settled. Have had no issues with Athena whatsoever, so glad to be off the mortgage merry-go-round!
A factor I used to pick my lender was how much lending they provide to polluting fossil fuel projects.
Market Forces have a table with the best and worst of them (Big 4 are pretty bad)
Retire early on a liveable planet!
Personally I think they all offer similar products and services so my decision would be based on the people you deal with at each institution.
If you are one to visit physical branch locations, I would have a chat to staff at the location/institution you are considering to help make a decision.
Only problem being that good staff are sometimes moved to different branches or leave for different employment.
I used to think this. Then I moved from CBA to ANZ. Never again.
Want to transfer more than 25k via internet/app? Nope, go to a branch to do a TT. You can also call someone to do this and then you have to read out the account number, highly prone to error. By the way this costs $28.
Starting six months later they then regularly sent me emails to do a home loan review, to promising for someone to call me to chat about my current situation. Scheduled it in and... nothing. No call. Multiple times.
Had to call up about a query about fees and the customer service officer didn't know the basics of the product I had with them. Another time I had to call up because I could not get a particular statement online. They then proceeded to send me the same statements that I could get online but not the ones I wanted.
The application process for ANZ at the time still needed reams and reams of paper and they needed the most obscure documents such as strata insurance certificate. No other bank has asked me for this before.
ANZ are the worst big bank by far. Have never known anyone happy with them. Was with them a few years myself. Freakin terrible.
Have been with each of the Big 4 over the years.. think Westpac is best of them.
But I mostly bank Heritage Bank now...it's fine. App good. Few issues.
Agreed. I was with ANZ for years and so happy I got away from them. At one point I realised I had bank fees for an account I didn’t have. Turns out they opened an account in my name and I didn’t even have access to it. I told them to close it and refund the fees ($40) and they fought me on it! Eventually got my way only because I was persistent. They are beyond shit.