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Major slashes three-year fixed rate, offers best-price 'guarantee'

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Australian Broker | 09 Aug 2013, 07:00 AM Agree 0
One the big four says it's 'beating the advertised rates' on major competitors and has slashed its three-year fixed rate to 4.89%
  • Tracy Kennedy | 09 Aug 2013, 09:10 AM Agree 0
    The CBA may think that they are leading the way, but they are still 10bp behind ME Bank's 3 year fixed rate of 4.79%.
  • Country Broker | 09 Aug 2013, 09:16 AM Agree 0
    Suggest the fine print be read , it is a genuine offer , only applies to the other 3 majors and some of their brand names. Lock fee is $750 !!
    No mention of beating white label products or the likes of ME and others , Publicity seeking . possibly , just like Westpac's variable rate reduction announcement. which still left their standard variable rate home loan offer higher than the other ( waiting on ANZ)
  • Broker | 09 Aug 2013, 09:17 AM Agree 0
    Which really means rates have further to fall, so don't lock in just yet!
  • Navigator | 09 Aug 2013, 10:20 AM Agree 0
    Poor reporting or fact checking by Australian Broker. You have quoted CBA 3 year fixed rate after a 0.15% wealth package discount whilst comparing to other lenders pre package discounts. For example ANZ is 5.09 and St.George 4.95% under their packages with comparable annual fees to CBA. Lets check the facts before we simply reprint CBA's press releases.
  • Glenn | 09 Aug 2013, 10:53 AM Agree 0
    Forget about Package discounts and loan size discounts. ME Bank is 4.79% one size fits all with no rate lock fee and if rate reduces before settlement then new rate applies.
  • Navigator | 09 Aug 2013, 02:35 PM Agree 0
    Glenn my comment does not pertain to what is best in the market but rather the fact that the lenders CBA has promised to beat over the next seven weeks have been unfairly compared in this article. The Me Bank is a great deal and we are using that product. There is no such thing as a one size fits all as there would be deals that do not suit Me Banks credit policy that could be done by a major. That being said a strong support of the second tier is always a preference to maintain competition.
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