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Homestar Finance

Homestar Finance Questions & Answers

4.4 from 428 reviews · View Statistics

23 questions from our users

rs

rsasked

Hi Homestar,

I would like to know if you give owner occupied home loan for IT Contractors working on ABN from more than 2 years and previously worked in Permanent PAYG role for several years. With 20% home deposit.

Regards

2 answers
Homestar Finance
Homestar F.Homestar Finance

Hi rs,

Could you please private message us with your full name and contact mobile number? To private message, hover your mouse over our logo (in our response to you) and you will have to option to message. This is a private message.

Once we have your details, we'll be able to give you a call, and discuss further with you.

Kind regards,
Homestar Finance

rs
rs

Sent you private message

Niroj K.

Niroj K.asked

Current cash back offer upto 1500 dollar? What is the minimum cash back offer guaranteed out of 1500 dollar and how will we get this amount in our account? Is that after settlement of loan or before? Thanks

1 answer
Homestar Finance
Homestar F.Homestar Finance

Hi Niroj K.,

I hope the below answers all your questions:

Eligibility Criteria for Cash Back
• Owner Occupied Only
• Principal and interest repayments only
• Minimum loan size $250,000
• Maximum Loan Size $850,000
• Maximum LVR 80%
• Refinance only
• New Customers only (excludes borrowers refinancing from Origin Mortgage Management Services)

0-70% LVR = $1,500 Cashback
70% to 80% LVR = $1,000 Cashback

Construction loans excluded or loans introduced to Homestar by a third party. Cashback offer is only available for new refinance applications received between 01.08.20020 to 30.9.2020. Offer available on Star Essentials and Star Classic products for refinance, principal and interest loans. Only 1 cashback per borrowers initial borrowing with Homestar will be paid regardless of the number of loans involved. This offer excludes customers already within the Origin Mortgage Managers Network. The cashback will be available as redraw 60 days after settlement. Discharge penalties will apply if you discharge the loan within 12 months of settlement.

Kind regards,
Homestar Finance

Dennis C.

Dennis C.asked

Hi, I have a few questions:
1. I dont believe Homestar has a Mobile app for Android or Apple yet. When will this be available?
2. When transferring funds from a Homestar offset account to an external account is this instant i.e. via Osko?
3. What are the ATM fees when using your debit Visa card?

4 answers
Homestar Finance
Homestar F.Homestar Finance

Hi Dennis C.,

Please see our answers below:

1. Homestar has a Mobile App project for both Android and Apple on our roadmap
2. Outgoing transfers are not currently instantaneous (via Osko or the like) and go through the standard inter-bank process. This is a project on our roadmap to offer our customers
3. Homestar has no ATM fees when using a bank ATM. The usage of other ATM's (e.g. in clubs or sporting venues) may incur an ATM Owner's fee and this is displayed on the screen of the ATM at the time of the withdraw being made. This fee is not a Homestar fee.

I hope this has answered your queries.

Kind regards,
Homestar Finance

Dennis C.
Dennis C.

Thanks for the response. For questions 1 and 2, can you provide any indication on timeframe?

Homestar Finance
Homestar F.Homestar Finance

Hi Dennis C.,

For the Mobile App we are aiming for 2020, and for instant payments we are aiming for 2021.

Kind regards,
Homestar Finance

Humna I.

Humna I.asked

How easy is it to do equity release with homestar? anyone with examples?

1 answer
Homestar Finance
Homestar F.Homestar Finance

Hi Humna I.,

Thank you for your question. Unfortunately Homestar Finance do not do equity release.

Kind regards,
Homestar Finance

Current customer

Current customerasked

Hi, I am an existing home loan customer. My current rate is 2.69%. I see Homestar's current variable rate is 2.39%. How do I get this rate 2.39%?

1 answer
Homestar Finance
Homestar F.Homestar Finance

Hi Current customer,

Thank you for getting in contact with us. If you could please private message* us with your full name and best contact number, we'll be able to contact you.

*To private message, hover your cursor over our logo (in our comment to you), and it'll give you the option the message. This is a private message.

Kind regards,
Homestar Finance

Pick1

Pick1asked

I am refinancing my current owner/occupier home loan that has 3 names on the title.. Does your company allow 3 names on the property ?

1 answer
Homestar Finance
Homestar F.Homestar Finance

Hi Pick1,

Yes Homestar Finance most definitely can do these loans. Could we please request your name and best contact number so a member of our sales support team can contact you to assist you further?

Kind regards,
Homestar Finance

Raymond

Raymondasked

Are there atm fees to withdraw money from visa debit card?

1 answer
Homestar Finance
Homestar F.Homestar Finance

Hi Raymond,
If you visit any of the Big 4 banks' ATM's, you won't be charged any ATM fees when withdrawing from your visa debit card.

Kind regards,
Homestar Finance

Michelle

Michelleasked

Hi

I was looking to refinance and I saw an ad for an owner occupied loan at 2.99% with your company. I want to confirm that:

1)the 2.99% is NOT a honeymoon rate, therefore not increase after a set amount of time. Is there any disclaimer I should be aware of? I have heard people being burnt by offered a low rate but then after a few years the loan rate increases and this is not even in response to a RBA rate increase.

2) if there is another rate cut, will these also be passed on to customers? I know Athena home loan swears by this for their loan products. Is yours similar to this? I want to know there is transparency

Thanks
Michelle

2 answers
Homestar Finance
Homestar F.Homestar Finance

Hi Michelle,

1. No the 2.99% is not a honeymoon rate.

2. We cannot predict the future, but we can tell you that the past 3 rate cuts by the RBA, have been passed on in full to our Homestar customers.

Please note: You do need to meet specific credit criteria to get this rate.

Kind regards,
Homestar Finance

Michelle
Michelle

Thanks you! That is excellent

Banzaii

Banzaiiasked

Who manages your offset accounts and provides visa debit cards? Do these need to managed via a linked account from a bank etc. Are deposits into offset guaranteed?

1 answer
Geoff B.
Geoff B.

The loan and the offset are managed via the website and are underwritten by ANZ, the deposits are guaranteed. (BSB no’s are ANZ)

HHH

HHHasked

if I was to refinance my home and buy a rental unit at the same time is this possible.
Cheers
Scott

1 answer
Homestar Finance
Homestar F.Homestar Finance

Hi Scott,

At Homestar Finance we offer a range of home loan products for both owner occupier and investment purposes. Please private message us with your name, contact details and best time to call back. One of our loan specialists will be in touch to assist with your enquiry. Alternately, you are more than welcome to call us on 1300 462 209 to speak with one of our friendly staff members.

Kind regards,
Homestar Finance

Lordroy

Lordroyasked

Some online banks are notorious for attracting new customers and then increasing their interest rates in no time after they have signed up. Does Homestar offer rate guarantee (similar to Athena)? Guaranteeing that any rate cuts and/or advertised low rates will always be passed on/offered to the existing customers? If there is a guarantee, I am happy to move my $600k+ mortgage asap.

1 answer
Homestar Finance
Homestar F.Homestar Finance

Hi Lordroy,

Homestar Finance is committed to offering one of the lowest home loan rates in the market. Our aim is to help Australians achieve the dream of owning their home sooner. Whilst we are unable to comment on other lenders, Homestar Finance has demonstrated this commitment by consistently passing on the full RBA rate reductions, where possible, to both new and existing customers.

Please send us a private message with your contact details and our loan specialist will be in touch to assist with your enquiry.

Kind regards,
Homestar Finance

Tom G.

Tom G.asked

Exactly what date will the rate cut be passed on.? I have recived no communication.

1 answer
Homestar Finance
Homestar F.Homestar Finance

Hi Tom G.,

Homestar Finance has mailed out correspondence to existing customers last week, advising the 0.25% rate reduction is effective 22 July 2019.

We apologise that you have not yet received any communication. Could you please send us a private message with your full name and contact details, so that we can confirm the rate change on your account and also resend a copy of the letter to you?

Kind regards,
Homestar Finance

Teery

Teeryasked

What sort of formats can transaction be exported into? eg csv or qif?

No answers
Teery

Teeryasked

What is the relationship between HomeStar Finance, Origin, and Columbus Capital?

1 answer
Homestar Finance
Homestar F.Homestar Finance

Hi Teery,

I hope the below information helps to answer your question:
Program Manager – Origin Mortgage Management Services Pty Ltd, On behalf of Columbus Capital Pty Ltd
Mortgage Manager – Homestar Finance Pty Ltd

Kind regards,
Homestar Finance

A happy customer

A happy customerasked

Will the new rate cut affect my home loan?

1 answer
Homestar Finance
Homestar F.Homestar Finance

Hi A happy customer,

Full Rate Cut Passed Onto All Customers! Homestar Finance is proactive in offering both it’s existing customers and new customers the full rate cut.

Further communication will be forthcoming in the next week to our customers. More details can be found on our website homestarfinance.com.au or call us directly on 1300 462 209 we would love to have a chat with you.

Kind regards,
Homestar Finance

Greg

Gregasked

Hi all,
I see most reviews are from new customers about the application process.
I am interested to hear from those that have been longer term customers (a few months or more) on their continued experience.
Have the card issues about accessing money in the morning been resolved?
Is the online banking page still limited/unreliable as some have mentioned above?
An most importantly from the longer term customers, have their rates increased after being lured by the low rates to attract new customers? Are existing customers getting the 3.29% that is currently advertised?

Many thanks,
Greg

6 answers
grnow
grnow

After 10months with them, this is my experience;
- the internet banking is pretty poor, but not a big deal for me as I use another bank for every day banking and using provided debit cards as a backup.
- the mortgage setup was fairly straightforward, probably not any different to any other banks or finance institutions. Should be a bit faster/easier, but we are not there yet here in Oz.
- friendly and helpful customer support
- I assume the existing customers on variable interest rate will benefit from the recent 0.25% drop, it might take some days. If it doesn’t drop, you might wonder what is variable rate.

Greg
Greg

Thank you. Appreciate your info!
I will be very interested to hear what happens with this rate cut for you.

CAMERON
CAMERON

After reading all the reviews posted here, we may going to stay away from this lender.

Ben Hilliard

Ben Hilliardasked

Hi, how do I private message Homestar?

1 answer
sobuc
sobuc

If you hover mouse cursor over Homestar logo in their reply, you will see send message option.

Nwoke

Nwokeasked

How many Splits do you allow per customer and are there costs associated with splitting?

1 answer
Homestar Finance
Homestar F.Homestar Finance

Hi Nwoke,

We offer up to 4 splits per customer at no additional cost.

Kind Regards,

Homestar Finance

Pablito

Pablitoasked

So was your issue eventually resolved by HomeStar? I could see their standard response, but the main question is whether they have resolved your problem and if you are still with them??? Was considering HomeStar to move my loan from Westpac where they charge those outrageous $395 annual fees, but your and other users experiences scared me off... Don't like what I am seeing. thank you for your feedback, it was very helpful!

2 answers
Dragana
Dragana

Hi,
I had no issues with Homestar at all, actually this is the best company I've had experience with refinancing. I have just refinanced my home loan with them. I got the best interest rate I could find in the market, they covered majority of cost of refinancing with cash back and the whole process was quick and without fuss. I don't have any annual fees. I was previously with 2 of major banks and another online home loan provider. I've tried to re-negotiate my rate with previous home loan provider and they didn't budge which prompted me to re-finance with Homestar.

Gab
Gab

Hi,
I had no problems with Homestar Finance. If you have no problems dealing with online companies and not been able to see them at a branch then you will enjoy Homestar finance.
I was with a bank in Qld and to me they were 30-40 mins away so I was always on the phone or Internet with them. High interest rates and annual fees, continuous rates increase without notice.
The only thing you see on the internet is just your amounts. The features supplied by a bank are not all there.
The only down fall with Homestar Finance.

viderman

vidermanasked

What are your fixed P&I home rates please?

1 answer
Homestar Finance
Homestar F.Homestar Finance

Hi Viderman,

Please visit this page to find our Owner Occupied fixed rates: http://homestarfinance.com.au/products/owneroccupiedhomeloan
Please visit this page to find our Investment fixed rates: http://homestarfinance.com.au/products/investmentpropertyhomeloan

Kind Regards,

Homestar Finance

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