Money magazine Comments - Best of the Best 2017: Cheapest Home Loans

Comment by LKLad ()

LKLad () — Sun, 19 Feb 2017 07:24:17 +1100

Lots of customers online complaining about Reduce Home Loans putting up their rate after a few months.

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Comment by Money ()

Money () — Mon, 20 Feb 2017 09:06:05 +1100

Hi LKLad,

Our methodology also takes into account historical rates. It is unfortunate that Reduce Home Loans have increased their rates, but many lenders have done the same.

- Money team

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Comment by Renate and Ian Knight ()

Renate and Ian Knight () — Tue, 27 Jun 2017 09:00:13 +1000

Does your bank deal with ex bankrupt customers? We finalised bankruptcy in August 2016.
Looking for a loan of $360,000. Deposit of 20 per cent.

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Comment by Money ()

Money () — Tue, 27 Jun 2017 09:27:34 +1000

Hi Renate and Ian,

Please contact the lenders directly to ask about your loan eligibility. You can phone UBank on 13 30 80 or Reduce Home Loans on 1300 733 823 .

- Money team

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Comment by Linda ()

Linda () — Sun, 22 Oct 2017 10:24:16 +1100

Please let your readers know that UBank will only lend to PAYG wage earners. They will not lend to self employed.
Also, if you ore over 40 then they still have a 30 year term but need an exit strategy. That would scare me as an over 55 year old.

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Comment by Money ()

Money () — Mon, 23 Oct 2017 15:31:06 +1100

Hi Linda,

You're correct that UBank only lends to PAYG earners.

The exit strategy is common due to providers having to meet their responsible lending requirements - more and more providers will look to ensure that customers have a way to pay for a 30-year loan term if the term of the loan ends after an average person finishes working.

- Money team

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