Mortgage Ezy Questions & Answers
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I got an application submited weeks ago via a broker. My broker is trying to get updates but we only get an answer saying approval is on their way as there seems no to be a reason to deny. Weeks after we are chasing for updates but nothing yet,
When I call customer care says that any update will come through my broker. however if my broker says he is waiting for MEZY.
I'm about to miss the deal due to finance since I don't get a response from MEZY. a either this is approved or deny will be nice.
My number is 0437359011
Feedback on interest rate from existing customers.
I’m considering Mortgage Ezy for SMSF loan and currently being offered 7.29%(80% LVR) and would like feedback from existing borrowers or customers. Have they increased your interest rate since you joined? If so, were the increases frequent and in line with the Reserve Bank of Australia’s (RBA) adjustments? In addition, Loan-to-Value Ratio (LVR) for regional areas as outlined in their brochure comes with + 0.50% interest rate of loan amount with 60& LVR. Has anyone been stung with this for regional area loans?
Cheers.
Hi On variable home loan for super fund property is it possible to repay more money than the monthly mortgage amount.If yes does it applies any fee. I want to pay 5000 dollars extra on the top of mortgage auto deduction. Can we extra online ourself
Hi , Wanted to ask if you deal with someone who has issues with their credit files? Thanks
Hi Guri - Thank you for reaching out. Are you a Mortgage Broker? Please let us know the best way to contact you. Thank you.
Dear Sir or Madam
I am writing l to escalate my SMSF home loan application , it was formal approved on 4 May 2021 but I have not received any loan documents now and settlement is due 4 June 2021.
Can you please speed up ASAP ?
My number 0413465229 Thanks Alex
my application number is 59537 Echo and Max Pty Ltd
Hi there. I want to develop a property into 5-6 apartment units at Perth, WA. Need 80% LVR for his construction and land value at this stage. Not planning to sell units but flexible . Which loan type product is suitable in my scenario? Or any nearest LVR option? Please advise. Thanks in advance
Hi M Rahman - Thank you for reaching out. Are you a Mortgage Broker? Please let us know the best way to contact you. Thank you.
It is myself, the owner. I can connect my mortgage broker to you. Please email me with your contact details to "bipul2289@gmail.com". My 1st question is maximum LVR you may allow for this construction (commercial) loan? Thanks
Hi M Rahaman - Thank you for your message. We will contact you now to answer your questions. thank you.
Hi M Rahaman - Unfortunately, the email address you have provided is invalid. Please let us know another best way to contact you. Thank you.
bipul2289@gmail.com [Number Removed]
Or email me in outlook
What is the maximum line of credit amount & interest rate offered by Mortgage Ezy?
Hi Tony, As we have a variety of offerings tailored to differing situations, and loan amounts are based on individual servicing, we would be happy to have someone contact you to discuss. Are you working with a mortgage Broker currently? Please let us know the best way to contact you.
Answer the question please
Do you offer SMSF loans? If so do you have fixed rates?
Hi Sharon Thanks for your query. We have several options for SMSFs up to an LVR of 80% for residential & commercial security. Please contact me by phone or email for more info or if you have a scenario & I will provide our best solutions - scenarios@mezy.com.au Regards Paul Robinson Account Manager 0400444399
Hi, I’m an Australian citizen working in USA. I work for a Fortune 500 company and would like to borrow 80% for an investment property in Sydney. Is it possible?
We recently got an investment loan. The rate has been increased TWICE in the last three months! This is not in line with RBA announcements. Prior to taking this query further we're providing Mortgage Ezy with the right of reply. Has an error been made?
My rate when from 3.65% to 4.50% in matter of a few months due to lending costs which is crap as they are now offering new home loans at 3.49%. They are doing this to everyone and they wont reduce your rate and wont help you at all. Ask yourself this why am i paying 4.50% on a principal and interest loan my House is worth 700K and that is being modest and i only have $425,000 left on my loan that is more then 30% equity! but they are offering new loans which i would qualify for at 3.49% because it's to get you in the door and to rip you off this company is ripping you off.
Could you supply me with more detail before I choose mezy. I’m currently in discussion to bring my loan over.
Is travel insurance included in the mortgage?
Hi Ham,
To ensure we keep our interest rates low we do not include these add-ons.
Thank you.
Hi what's the advantages & disadvantages going with broker rather than directly dealing with the bank?
There are 3 things Bankers care most about in this world. 1. My Bonus. 2. My Bonus. 3. My Bonus. - Quote from Jack Welsh, retired CEO of General Electric (GE). Going with a Broker? "Possible" Pros:
Better interest rate as they do the shopping around for you. May have access to "special deals" depending upon your occupation, income and LVR. Less stress, they do/coach you through all the paperwork.
Cons:
Brokers need to eat ! Brokers are the middle man/woman between Lender and Borrower. Brokers get paid by the lender, so at some point the lender needs to recover funds to pay that Broker. Those funds ultimately come from YOU the borrower in some shape or form. Like a mosquito, you may or may not notice you've been bit and be missing some blood, aka money to pay the Broker. (100% legally of course).
Get offered a worse interest rate than had you shopped around yourself. (Happened to me once, the Broker still tried to sell me it. Very persuasive selling skills, almost had me thinking I'd be better off with a higher rate. I think he tried to hypnotised me?)
Not sure if this only happens with Broker's but again myself and a friend both got the run around on how much we could borrow. The Broker would give you one number with 100% confidence, then come back days later with a lesser amount, then a lesser amount after that. It's like a reverse auction.
How hard can it be for a Broker to hold their tongue until they're 100% sure of the amount of a loan they can get for you? Sure, by all means offer a guess-a-mate.
Comments:
Do your own numbers and make sure it's the "comparative rate" you're looking at. That's the rate that includes all the ongoing fee's/charges if they exist on the loan.
As an extreme example, no point in signing up for a fantastic 2% interest rate if the monthly fees are $2000. It's the comparative rate that will tell you if the lender is trying to pull that one on you.
One final thing to look for is FORM. I've read a large number of reviews recently about lenders offering great low rates, but then start INCREASING the interest rate within 4 months of issuing the loan. These increases continue until rate becomes worse than your prior lender. They also have high exit fees which is suppose to deter you from going to another lender. So WATCH OUT.
Hopefully it's only isolated lenders going this, but look out for "consistent reoccurring" comments on reviews !!!
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