I love CBA. They are the best bank for us, affordable rates, reliable staff who are friendly and helpful and will stop even outside of work if they see you around, just to say hi. Customer service is sadly lacking these days but CBA have stayed true and for that reason I will be a loyal customer until the end.
When we signed this product through a broker (we didn't have the deposit amount required in other banks) , it was a contract with 8% interest (while the other banks were charging around 7%) and the same month they jumped the interest rate to 10% which was outrageous. The interest rate from other banks got lower and lower and Collins remained on the 10% even after trying to negotiate with them, and their answer was that they had to take from international money. After 7 months, we transfer our mortgage to another bank!
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WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
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