FatCat's Money Confessions

FatCat's MoneyConfessions - helping you save (& make) money, one click at a time


Ha anyone had experiences with My Rate Home Loans?

They say they are cheaper due to no overheads? Is this true? Are there pitfalls?

They are a good 1.25% cheaper than big 4 banks. This would save me about $580 per month!

Is it too good to be true?



Views: 679

Reply to This

Replies to This Discussion

Hi Nikky,

I just had a quick look on the My Rate Home Loans website and would suggest that they are comparing their rate of 6.95% rate to the major lender's standard variable rates. Many lenders are offering interest rates well below what this web site displays. I am a mortgage broker in Brisbane and can assure you that you can do even better than 6.95% variable. Fixed rates are now around the 6.5%. Some fees may apply but not always.

Have a good weekend


Hi Keith

We want variable as we have two investment homes on interest only. Want to refianance as we are currently paying 7.42% after negotiating a rater drop from 7.82% from our lender of 8 years. I think we should be able to get a better deal

Thanks again


Hi Nikky,

Apologies for the delay, I have been away on hols and a little time off due to illness. All better now. Has your' lender dropped their rates any further since we last communicated? Depending on your' total debt amount, you should be able to get around the 6.80% on variable rates (under a package) and around the 6.30% for 2 & 3 years fixed. You can also have fixed interest rates on interest only loans, not a problem, only question would be if you plan to sell 1 or all of your' investment properties during the fixed rate period.

If you would like to communicate directly, please email me at keith@fasttrackhomeloans.com.au and I will respond quickly.




Latest Activity

Walter P is now a member of FatCat's Money Confessions
Jan 9, 2013
Peter Evanson is now a member of FatCat's Money Confessions
Jan 3, 2013
Joy Nielsen is now a member of FatCat's Money Confessions
Nov 26, 2012
Tom Brook is now a member of FatCat's Money Confessions
Nov 17, 2012

FatCat news

Nice Guys Do Finish First

Despite the popular phrase, "nice guys finish last," this does not have to be true in small business.

How Long Does It Take To Create A Brand?

It depends on whether you are a pioneer or a colonizer, in our opinion.

Measuring Social Networking Success: More Than Just Likes

Measuring the success of social media interactions cannot be done using traditional ROI metrics.

Do You Have The 'Stickability' To Be A Successful Entrepreneur?

It's no secret that successful entrepreneurs have something special

Green Tea Boosts Working Memory

If green tea were a celebrity, it would already sit near the tippy top of the A-list.



© 2014   Created by FatCat.

Badges  |  Report an Issue  |  Terms of Service