Rate rises and your mortgage

[ThePedigree]

Any dealings with ME Bank my bro? What's your professional view on them?

Plenty to say about ME. PM me if you need.

 

[CrittaMagic69]

Don't those fuckers charge like 20-30% interest or something like that?

I think it's like 5% per transaction. What you borrow is then deducted on your next payday via direct debit so you obviously then end up short again and have to once again borrow money lol.

 

[ThePedigree]

Also mate what sort of variable and fixed rates are you pushing for? I know that may change after todays RBA announcement also

Lowest variable at the moment is 4.64%. Add .25 to that in a couple of weeks

No one I know has fixed since mid 2021 mate. Fixed rates shot through the roof end of 2021. They’re coming back down a bit at some lenders like Macquarie….. though still in the early 5s.

If anyone here needs a borrowing capacity, or help with anything at all, hit me up. Always happy to help.

 

[The DoggFather]

I think it's like 5% per transaction. What you borrow is then deducted on your next payday via direct debit so you obviously then end up short again and have to once again borrow money lol.

Fuck that lol

 

[ThePedigree]

I have $60,000 left on my house, when my wife passed my son approached her super fund and forwarded all the paperwork only to be told they wont even look at it for 6-9 months, so i'm stuck on no income with a mortgage to pay bills food etc and these assholes are sitting on my wifes super and dont give a f....k

Very common. Absolute bullshit. And so is super.

 

[Bulldog1966]

I think it's like 5% per transaction. What you borrow is then deducted on your next payday via direct debit so you obviously then end up short again and have to once again borrow money lol.

On which payment or service type is this 5% you speak of? because it isn't Afterpay.ZERO fees unless you miss a payment..it's a great option for mid size purchases(eg TN's, or I just bought a new Galaxy A53 phone)and better than or at least as good most credit cards(no fees ever)except you have to make a 1/4 of the purchase amount 14 days from the bought date.

 

[belmore_utd]

On which payment or service type is this 5% you speak of? because it isn't Afterpay.ZERO fees unless you miss a payment..it's a great option for mid size purchases(eg TN's, or I just bought a new Galaxy A53 phone)and better than or at least as good most credit cards(no fees ever)except you have to make a 1/4 of the purchase amount 14 days from the bought date.

Moisture detected. Moisture detected

 

[Bulldog1966]

Moisture detected. Moisture detected

Have you had this problem?? Wtf causes it I wonder?

Until reading your post and then googling it lol I have never heard of this issue..plenty of articles on it so sounds like it's been a thing for years maybe?

Touch wood, i have never had that issue appear once and have owned Samsung's for well over 10 years and probably 7 or 8 actual phones roughly.
The A20 I have has been a trojan for over 2 years(just getting tired, not enough ram and battery is weary etc)

*43 and Dry here tomorrow ..or in other words fucking hot and not humid, think I'll be ok with that moisture thing...

 

[belmore_utd]

Have you had this problem?? Wtf causes it I wonder?

Until reading your post and then googling it lol I have never heard of this issue..plenty of articles on it so sounds like it's been a thing for years maybe?

Touch wood, i have never had that issue appear once and have owned Samsung's for well over 10 years and probably 7 or 8 actual phones roughly.
The A20 I have has been a trojan for over 2 years(just getting tired, not enough ram and battery is weary etc)

*43 and Dry here tomorrow ..or in other words fucking hot and not humid, think I'll be ok with that moisture thing...

I've had samsung phones since 2001 never had a problem until just last month both mine and my wife's phone (different Samsung models) started this bs after having them plugged into our vehicle's only a day or 2 apart.
My wife's phone it comes on and off or you can sometimes skirt around by cleaning the port, changing cords or hard resets.
My however I have not been able to get rid of it and now have to charge wireless which is not an option on my wife's.

It's not humidity or anything it's software is my guess because they happen at the same time after charging in different vehicles. Fucking annoying and seemingly no way to just turn the damn moisture detect 'feature' off

*edit the wife's phone is the A53 goodluck

 

[Bulldog1966]

I've had samsung phones since 2001 never had a problem until just last month both mine and my wife's phone (different Samsung models) started this bs after having them plugged into our vehicle's only a day or 2 apart.
My wife's phone it comes on and off or you can sometimes skirt around by cleaning the port, changing cords or hard resets.
My however I have not been able to get rid of it and now have to charge wireless which is not an option on my wife's.

It's not humidity or anything it's software is my guess because they happen at the same time after charging in different vehicles. Fucking annoying and seemingly no way to just turn the damn moisture detect 'feature' off

*edit the wife's phone is the A53 goodluck

Yeh righto cheers.
Like i said hopefully ok it is so far but very early days, you mention car charging specifically? I never do that AND rarely when travelling far distances that i have done its always been slow as fk I found.
Maybe a silly question why don't you charge overnight in your house?

Hear what your say about software and very possibly right but the fault page I read did mention humidity as a cause and actual detection of moisture but who knows with fkn technology.
Anyway will see I guess hopefully its not an issue, at least I have the older one still in decent condition just in case..
Was a very good price, only$450 express posted from e/states.

 

[Natboy]

Lowest variable at the moment is 4.64%. Add .25 to that in a couple of weeks

No one I know has fixed since mid 2021 mate. Fixed rates shot through the roof end of 2021. They’re coming back down a bit at some lenders like Macquarie….. though still in the early 5s.

If anyone here needs a borrowing capacity, or help with anything at all, hit me up. Always happy to help.

Cheers mate. I’ve got a 2% fixed rate coming off soon & will see what I can get. Apparently rates will start dropping by November but who knows and we may see another couple of rate rises before that. What are your thoughts?

 

[My Shawarma]

Every person I’ve spoken to about this has said the cash rate has to match or go above the rate of inflation to get inflation under control.

I could never see it happening with the levels of mortgage debt

 

[BELMORE]

Cheers mate. I’ve got a 2% fixed rate coming off soon & will see what I can get. Apparently rates will start dropping by November but who knows and we may see another couple of rate rises before that. What are your thoughts?

I reckon rates will sustain a

Don't those fuckers charge like 20-30% interest or something like that?

not sure how the week early salary thing works but it’s a product preying on desperate people. AfterPay is like free if you pay it off within their terms but again it’s a product tailored for people with not a lot of money

 

[DinkumDog]

credit cards I’m fine with using, if you know how to use them. Sometimes I have 0, sometimes I have 3. Balance transfers are helpful.

But it’s not just paying them off.
Applying for credit cards (0% balance transfer, bonus FF points etc) affects your credit score, so if you’ve applied for a lot of cards in recent years (regardless of successful application or not and whether you paid them off in full every month or not) it’s considered ‘applying for a loan’ which can work against you in applying for larger loans such as refinancing a mortgage. Just one thing to be wary of, regardless of how well you’ve managed the card accounts.

 

[DinkumDog]

On which payment or service type is this 5% you speak of? because it isn't Afterpay.ZERO fees unless you miss a payment..it's a great option for mid size purchases(eg TN's, or I just bought a new Galaxy A53 phone)and better than or at least as good most credit cards(no fees ever)except you have to make a 1/4 of the purchase amount 14 days from the bought date.

Yeah PayPal ‘Pay In 4’ works the same - 4 payments of 25% of the goods value spread over 6 weeks. You have to give them a debit card or bank account to debit the payments from and fees only kick in if you dishonour those payments, otherwise it’s fee free.

At the end of the day though they’re all credit products and if you’re buying what you don’t have the money to pay for it can bite you on the arse eventually.

 

[BELMORE]

But it’s not just paying them off.
Applying for credit cards (0% balance transfer, bonus FF points etc) affects your credit score, so if you’ve applied for a lot of cards in recent years (regardless of successful application or not and whether you paid them off in full every month or not) it’s considered ‘applying for a loan’ which can work against you in applying for larger loans such as refinancing a mortgage. Just one thing to be wary of, regardless of how well you’ve managed the card accounts.

Yeah like I said if you know how to use them then they’re fine, not all evil.

 

[DinkumDog]

Yeah like I said if you know how to use them then they’re fine, not all evil.

Yeah just info for the benefit of punters who might not know some of the traps. A bloke who works for me had his home loan application knocked back by several lenders for this very reason. Turns out he’d applied for something like 30 credit cards over about 3 years for the perks - FF points, balance transfers etc. He paid them all off every month and closed accounts once the bonus offers dried up but he kept chasing the bonus offers thinking he was winning. For several home loan lenders this was considered a risk so narrowed his choices, even when rates were low and money easier to get. He eventually got a home loan but at a much higher rate than was the norm at the time so whatever ‘bonuses’ he got on those credit cards got swallowed up by interest on his mortgage on the flip side. So just caveat emptor for the punters.

 

[Kung fu man]

Fuck man....sorry to hear that my brother.

Why are those greedy evil fucks waiting 6-9 months? Can you go to the ombudsmen or something?

About as useful as department of fair trading ,I Rang AFCA what a waste of time that was sounded like an 18 boy on the phone he was very concerned about the waiting time but offered no help at all i was told by Australian Super they have a commitee sit i think once a week to go through claims and they are 6 months behind and getting further behind i asked why they didnt have enough staff to do the work and i got a lame story about fees would have to rise

 

[berries1935]

Single dad here, bought 2021 on advice and now having to sell. Back to renting.
it seems very short sighted that the only way to control inflation is interest rate rises. I also think they haven’t given enough time for the first 6 increase to take effect.

 

[CrittaMagic69]

On which payment or service type is this 5% you speak of? because it isn't Afterpay.ZERO fees unless you miss a payment..it's a great option for mid size purchases(eg TN's, or I just bought a new Galaxy A53 phone)and better than or at least as good most credit cards(no fees ever)except you have to make a 1/4 of the purchase amount 14 days from the bought date.

I think it's mypaynow. Should've bought the TN's instead of the Samsung