Had enough of ANZ

[Ferret619]

So it’s abouy that time my wife and I refinance the home loan, ANZ have been quite lack lustre lately for us and it looks like we are going to end up with BOQ, the value proposition there is night and day with the big guys currently.
Any of you lot with BOQ, how do you find em?

 

[glenos]

We were with ubank for a few years, they were low cost and low service. We have simple needs so it was ok. Except when we wanted to refinance to buy block it took 6 weeks. Paying out the loan when we sold was also a debacle, took 3 days post scheduled settlement for them to get it sorted despite 60 days settlement agreement.

Now with mystate bank, mostly cos ubank don't do construction loans.l and local branches so I could deal with a person to get stuff done.

I suggest you look at what services you must have and stick too it. The big 5 package up all sorts of crap you don't need and charge you for the privilege.

We have usaver and uultra for daily transactions and just the mortgage with mystate. I'm considering moving everything over but haven't bothered. Don't expect to have the mortgage for too long so probably won't.

Both ubank and mystate have free redraw facilities so I just park surplus cash in there and it is like I owe less. As long as you are disciplined to not dip into the house like am atm it will save you years. I could set up an auto transfer to mortgage as an extra payment, but we are spending lots at the moment working on the property so cash is a little unpredictable. I have done this in the past and it was great, " set you money on autopilot", then you don't have to think.

 

[Ferret619]

We were with ubank for a few years, they were low cost and low service. We have simple needs so it was ok. Except when we wanted to refinance to buy block it took 6 weeks. Paying out the loan when we sold was also a debacle, took 3 days post scheduled settlement for them to get it sorted despite 60 days settlement agreement.

Now with mystate bank, mostly cos ubank don't do construction loans.l and local branches so I could deal with a person to get stuff done.

I suggest you look at what services you must have and stick too it. The big 5 package up all sorts of crap you don't need and charge you for the privilege.

We have usaver and uultra for daily transactions and just the mortgage with mystate. I'm considering moving everything over but haven't bothered. Don't expect to have the mortgage for too long so probably won't.

Both ubank and mystate have free redraw facilities so I just park surplus cash in there and it is like I owe less. As long as you are disciplined to not dip into the house like am atm it will save you years. I could set up an auto transfer to mortgage as an extra payment, but we are spending lots at the moment working on the property so cash is a little unpredictable. I have done this in the past and it was great, " set you money on autopilot", then you don't have to think.

the only debt we have is the mortgage, our banking needs are quite simple and really I want minimal contact from these people, incessantly offering me personal loans, cards and the like isn’t something I want or want to pay for.

The only thing that I do require is a decent transaction price on share trading which they do a pretty good offer on too.

 

[glenos]

transaction price on share trading

Look at bell direct

 

[Pbgoose]

Only had one experience with ANZ and I'm not going back. So much paper for so little service.
I do bank with BOQ and they are brilliant. My mortgage isn't with them but considering them for refinancing the reno.

 

[Ferret619]

Look at bell direct

Looks good tip, thanks

Only had one experience with ANZ and I'm not going back. So much paper for so little service.
I do bank with BOQ and they are brilliant. My mortgage isn't with them but considering them for refinancing the reno.

Nice one, good luck on the Reno
I’ve got a work property I’m looking to rip the bathroom out of soon-
Nothing says party quite like a 3 person spa bath.

 

[todras]

So it’s abouy that time my wife and I refinance the home loan, ANZ have been quite lack lustre lately for us and it looks like we are going to end up with BOQ, the value proposition there is night and day with the big guys currently.
Any of you lot with BOQ, how do you find em?

I am limited by what I can say in public but currently I would look to both BOQ and Suncorp in relation to the specifics of your question.

 

[Rami]

I am limited by what I can say in public but currently I would look to both BOQ and Suncorp in relation to the specifics of your question.

In a positive or negative light?

I may also be looking to refinance a new build soon.

 

[nav1]

the only debt we have is the mortgage, our banking needs are quite simple and really I want minimal contact from these people, incessantly offering me personal loans, cards and the like isn’t something I want or want to pay for.

The only thing that I do require is a decent transaction price on share trading which they do a pretty good offer on too.

Have you checked the services of ING direct for the mortgage?
My friends had a great experience with them.

For share trading, I would recommend interactive brokers. They are a huge, global brokerage with fantastic service and ultra cheap commissions. I switched to IB in 2014 and couldn't be happier!

 

[Barry Armstong banned once again]

I am limited by what I can say in public but currently I would look to both BOQ and Suncorp in relation to the specifics of your question.

EDITED because you are a banned troll.

 

[todras]

Thats surely an interesting comment from someone not involving in the banking industry! I can give some insight as a banker!

Not particularly, I have extensive experience dealing with financial institutions however I make it a point never to recommend a financial product.

I think most Australians now have a good understanding of the banking industry, the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry has been very educational.

 

[Monsta_AU]

Macquarie have been good for us so far. The offset facility (requires the package, $280 p.a.) is one of the best out there with up to 10 separate accounts offsetting interest. We are saving $400/mo interest already so worth it for us. The banking app on the phone is excellent (phone buzzes before you see 'approved' on a terminal), and they do have a broking account but the trades are expensive compared to either Bell Direct/CMC Markets which I use.

It's been a few months now, but I have just closed my Bankwest accounts into Macquarie. One of the reasons I was with them was for branch access, however they are now closing many branches in NSW including one near work which makes it pointless now. I am keeping ING as an alternate - it's been my 'daily' spending account for a long time, no issues.

Honestly, it might be worthwhile for you to investigate the options through a broker. We had a pretty good idea of what we wanted and what options were available. Broker came back with various better deals than offered publicly, including an extra discount on interest rate and a first-year waiver of package for Macquarie which was on our shortlist.

 

[Ferret619]

Macquarie have been good for us so far. The offset facility (requires the package, $280 p.a.) is one of the best out there with up to 10 separate accounts offsetting interest. We are saving $400/mo interest already so worth it for us. The banking app on the phone is excellent (phone buzzes before you see 'approved' on a terminal), and they do have a broking account but the trades are expensive compared to either Bell Direct/CMC Markets which I use.

It's been a few months now, but I have just closed my Bankwest accounts into Macquarie. One of the reasons I was with them was for branch access, however they are now closing many branches in NSW including one near work which makes it pointless now. I am keeping ING as an alternate - it's been my 'daily' spending account for a long time, no issues.

Honestly, it might be worthwhile for you to investigate the options through a broker. We had a pretty good idea of what we wanted and what options were available. Broker came back with various better deals than offered publicly, including an extra discount on interest rate and a first-year waiver of package for Macquarie which was on our shortlist.

Thanks for the tip, a friend of mine is a broker and I’ve been speaking with him about it too.

Thats surely an interesting comment from someone not involving in the banking industry! I can give some insight as a banker!

I almost ended up in banking, how is it, I’d love to hear your opinion on it living it day to day.

I am limited by what I can say in public but currently I would look to both BOQ and Suncorp in relation to the specifics of your question.

Suncorp was another choice I was looking at actually.

 

[Monsta_AU]

Unfortunate that I need to post here again, however it appears that Bell Direct's 'Honner' PR firm decided that they wanted to sign up here without getting clearance as per the site rules (which were accepted).

Being that this particular 'executive' did not make an effort to actually read the rules, we have rejected this account. I am sure that the membership here can make their own minds up regarding this, however I believe in being transparent.