ANZ - 300,000 QFF points offer on a mortgage

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So, apparently refinancing is not eligible (have existing ANZ loan and called to refinance) - told in no uncertain terms that I would not be eligible for the points. Good news is that i used the information in this thread to further reduce our mortgage rate.

I'm not sure where I saw that refinancing is eligible - but I couldn't find it again - my loss.
 
Refinanced mortgages from other institutions are eligible for the promotions. This is what was meant. This is opposed to a previous Westpac 200k pt promo where it had to be for a purchase of a property (no refinances).
 
Great thread and timely for me - I'm always aggressive on our existing mortgage and also trying to finance a trip from Sydney to London for the family. I have a couple of comments and Qs which I'd love to hear thoughts on:

- We're being offered 3.32% variable. I assume if there is another rate cut that ANZ decide to pass on we'd get the same without losing the sign-up benefits?

- My existing RAMS broker is saying if we leave our current deal (which he has reduced to the same APR) before the end of the year he will lose all his commission on his deal. This is somewhat unprofessional of him but hey, he was there for us 12 months ago when nobody was lending, so I feel some loyalty to him. What to do?

- I've been told that the ANZ FF black can also be added by ANZ to this package, but NOT with the intro 100K points, because we're going for the mortgage. But the Black offer is out there on its own so why can't I just apply separately? Or maybe just go for another card?

- There are loads of offers on CC out there right now where you're basically buying 90K QFF points for ~$200 (the annual fee), by just switching cards as soon as you've got the points. This seems too good to be true - is it?

- IS IT ALL WORTH IT? Elsewhere on this site I have seen that even with a gazillion QFF points, flying to London economy class will STILL set me back over AU$500 per ticket due to Qantas dodgy carrier charges. Thoughts??

First post from me and what a demanding one! Hello to all and many thanks in advance.......
 
Great thread and timely for me - I'm always aggressive on our existing mortgage and also trying to finance a trip from Sydney to London for the family. I have a couple of comments and Qs which I'd love to hear thoughts on:

- We're being offered 3.32% variable. I assume if there is another rate cut that ANZ decide to pass on we'd get the same without losing the sign-up benefits?

- My existing RAMS broker is saying if we leave our current deal (which he has reduced to the same APR) before the end of the year he will lose all his commission on his deal. This is somewhat unprofessional of him but hey, he was there for us 12 months ago when nobody was lending, so I feel some loyalty to him. What to do?

- I've been told that the ANZ FF black can also be added by ANZ to this package, but NOT with the intro 100K points, because we're going for the mortgage. But the Black offer is out there on its own so why can't I just apply separately? Or maybe just go for another card?

- There are loads of offers on CC out there right now where you're basically buying 90K QFF points for ~$200 (the annual fee), by just switching cards as soon as you've got the points. This seems too good to be true - is it?

- IS IT ALL WORTH IT? Elsewhere on this site I have seen that even with a gazillion QFF points, flying to London economy class will STILL set me back over AU$500 per ticket due to Qantas dodgy carrier charges. Thoughts??

First post from me and what a demanding one! Hello to all and many thanks in advance.......



Will just comment on a couple of things here:

- Why don’t you get your broker to negotiate that rate with ANZ? The promo website states that you are still eligible when going through a broker. This way everyone would win.

- The free credit card - I told them we don’t want it for the exact reason you state. Why would I want to open a credit card if there is no sign on bonus included with it? I will sign up for this card once my sit out period is over in November and get a further sign on bonus at that time.
 
Will just comment on a couple of things here:

- Why don’t you get your broker to negotiate that rate with ANZ? The promo website states that you are still eligible when going through a broker. This way everyone would win.

- The free credit card - I told them we don’t want it. The reason being I will sign up for this card once my sit out period is over in November and get a further sign on bonus. Why would I want to open a credit card if there is no sign on bonus included with it?

Thanks for quick reply. Definitely spot on with second point. I'll try the first as well!
 
- I've been told that the ANZ FF black can also be added by ANZ to this package, but NOT with the intro 100K points, because we're going for the mortgage.

Be careful about ANZ credit card that attach to its home loan package, the package only waives the annual card fee, you still have to pay $55 rewards fee per card (not per account). It doesn't like other banks that offer completely free credit card with the package.
 
Great thread and timely for me - I'm always aggressive on our existing mortgage and also trying to finance a trip from Sydney to London for the family. I have a couple of comments and Qs which I'd love to hear thoughts on:

- We're being offered 3.32% variable. I assume if there is another rate cut that ANZ decide to pass on we'd get the same without losing the sign-up benefits?

- My existing RAMS broker is saying if we leave our current deal (which he has reduced to the same APR) before the end of the year he will lose all his commission on his deal. This is somewhat unprofessional of him but hey, he was there for us 12 months ago when nobody was lending, so I feel some loyalty to him. What to do?

- I've been told that the ANZ FF black can also be added by ANZ to this package, but NOT with the intro 100K points, because we're going for the mortgage. But the Black offer is out there on its own so why can't I just apply separately? Or maybe just go for another card?

- There are loads of offers on CC out there right now where you're basically buying 90K QFF points for ~$200 (the annual fee), by just switching cards as soon as you've got the points. This seems too good to be true - is it?

- IS IT ALL WORTH IT? Elsewhere on this site I have seen that even with a gazillion QFF points, flying to London economy class will STILL set me back over AU$500 per ticket due to Qantas dodgy carrier charges. Thoughts??

First post from me and what a demanding one! Hello to all and many thanks in advance.......

The rate you are being offered is a % discount on the SVR. You will maintain that % discount and as the SVR changes, so too will your rate.

With regard to your brokers clawback of commission, you could apply now but settle as late as end of Jan and still get the points and perhaps he will retain his commission if that puts it outside of the 12 months.

Not sure with regard to the Black card. I recently closed an ANZ card on which I received points so have to wait 12 months for any more CC bonus points so didn't ask this question.

The points value really kicks in on Business and First Class RTW options which is what I am using it for. I won't be redeeming on Economy tickets.
 
We've decided to go for it. Already have the ANZ credit card so won't get another one (waiting for the bonus points). Our current rate is 3.9% so that will be better although we'll lose the offset account. I wonder how easy it is to pay extra then redraw, anyone know? Fees?

Thanks!
 
Our broker is recommending we refinance with ANZ. Unfortunately we fixed a portion of our mortgage which will cost us $22k break fee (ouch!), but with better rates we'll still come out ahead.

Trying to decide between ANZ and BOQ, the latter will save us $5900 in the next 2 years, the former only $1900 but with 2x 300,000 QFF points (refinancing 2 properties).

600,000 points is definitely worth more than $4k to me but I'm loathe to put a hard $ value on points, as we all know they can be devalued tomorrow or even gone completely (like Ansett).

Any sage advice?
 
Well 600K points is only worth more than $4K if you were going to fly Qantas or one of its partners anyway I would say, noting from other articles on here the best way to maximise value from those points. Economy class return to London is still up to $900 per person with all the taxes.

Bear in mind also as I am that these comparisons are valid right now but ANZ, BOQ or some other institution may trump all that in the next couple of months.

Finally, you must be on a pretty bad deal right now if you're still going to offset that huge break fee by switching. Presumably you're locked in for a long time on that fixed rate? Otherwise have you tried the comparison if you wait it out and then switch?
 
Yep we locked in for 5 years at a bad rate on the advice of a financial advisor :rolleyes: Still got over 2.5 years left.

The comparisons I've done are at the end of the current fixed term (ie in 2.58 years).

I have enough points already for 2xJ 35000 mile tickets. This is just short of having enough for another 2 ... but depends how much leave I can get from work!

Decisions decisions!
 
Is 2 weeks enough to get the application through? Banker says yes but seems tight

I've done my borrowing capacity assessment and now it's just sending in documents and filling out application and valuation and all that..
 
Is 2 weeks enough to get the application through? Banker says yes but seems tight

I've done my borrowing capacity assessment and now it's just sending in documents and filling out application and valuation and all that..

Small print says Apply by 31 August. Settle by 31 January 2020. So you should be fine
 
Is 2 weeks enough to get the application through? Banker says yes but seems tight

I've done my borrowing capacity assessment and now it's just sending in documents and filling out application and valuation and all that..



Just have to have begun the application by 31 August. You will be ok.
 
Our broker is recommending we refinance with ANZ. Unfortunately we fixed a portion of our mortgage which will cost us $22k break fee (ouch!), but with better rates we'll still come out ahead.

Trying to decide between ANZ and BOQ, the latter will save us $5900 in the next 2 years, the former only $1900 but with 2x 300,000 QFF points (refinancing 2 properties).

600,000 points is definitely worth more than $4k to me but I'm loathe to put a hard $ value on points, as we all know they can be devalued tomorrow or even gone completely (like Ansett).

Any sage advice?

I'm not sure if I follow your plan completely but the T&Cs say the 300K is only for the primary applicant. Unless it's two separate loans I don't see how it's possible to get two lots of 300K.
 
As another data point - we signed up for this, approved in a week and our rate offered was 3.29% through ANZ mobile lending. When the paperwork came through it was at 3.32% but the lender said he'd get it fixed in the system on settlement and forwarded me the approval...so, fingers crossed that goes to plan.

either way, it beat one of the other big 4 by 7bps and comes with the points, so...winning!
 
Thanks to all who shared the rates offered. Is that for investor home loan? I was offered 3.66% for investor home loan, still lower than my current NAB’s but would be interested what others were offered.
 
Thanks to all who shared the rates offered. Is that for investor home loan? I was offered 3.66% for investor home loan, still lower than my current NAB’s but would be interested what others were offered.
I was also offered 3.66% for an investor loan
 
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