ASB Mortgage Australia 2023 Full Guide Review

A detailed Guide on ASB Mortgage Australia 2023 with current mortgage rates,loans available,products,pros,cons,likes,dislikes and Customer ratings and review

ASB Mortgage Australia offers a variety of home loans to suit different needs and budgets. Their fixed rate loans offer peace of mind with a guaranteed interest rate for a set period of time, while their variable rate loans offer more flexibility and the potential to save money if interest rates fall. ASB also offers a range of features and benefits with their home loans, such as offset accounts, redraw facilities, and the option to make extra repayments.

Features & Benefits of ASB Mortgage

ASB Mortgage Australia offers a variety of mortgage products to suit different needs and budgets. Some of the features of ASB mortgages include:

• Competitive interest rates
• Flexible repayment options
• No early repayment penalties
• A range of loan terms to choose from
• Access to ASB’s online banking and mobile app

ASB Mortgage Products

Here are some of the most popular ASB mortgage products:

• ASB First Home Loan

This loan is designed for first home buyers who are looking for a competitive interest rate and flexible repayment options. The loan also comes with a number of features that can help first home buyers save money, such as a $3,000 cash contribution and a waiver of the application fee.

• ASB Flexi Home Loan

This loan offers flexible repayment options, so you can choose how much you want to repay each month. You can also make extra repayments without penalty, which can help you pay off your loan faster.

• ASB Green Home Loan

This loan is available for properties that meet certain environmental criteria. The loan comes with a number of features that can help you save money, such as a lower interest rate and a waiver of the application fee.

• Housing Variable Rate

This is a floating rate mortgage, which means your interest rate will fluctuate with the market.

• Fixed Rate Mortgage

This is a mortgage with a fixed interest rate for a set period of time, such as 12 months, 24 months, or 36 months.

• Line of Credit Mortgage

This is a type of revolving credit mortgage, which means you can borrow up to your approved limit and repay it as you wish.

• Offset Account Mortgage

This is a mortgage that is linked to an offset account, which means you can offset your mortgage balance against the balance in your offset account. This can help to reduce your interest payments.

If you’re looking for a mortgage in Australia, ASB is a good option to consider. They offer a variety of products to suit different needs and budgets, and their interest rates are competitive. You can also get help from an ASB mortgage advisor to find the right product for you.

Eligibility requirements for ASB mortgage

To be eligible for an ASB mortgage, you will need to meet the following requirements:

• Be an Australian citizen or permanent resident.
• Have a good credit history.
• Have a deposit of at least 20% of the purchase price.
• Be able to afford the monthly repayments.

How to Apply ASB Mortgage

To apply for an ASB mortgage, you can visit the ASB website or call ASB on 1300 227 227 speak to a mortgage advisor.

ASB mortgages are available to both Australian citizens and permanent residents. You can apply for a mortgage online or by visiting an ASB branch.

Factors affecting your Mortgage Rate

Here are some factors that can affect your mortgage rate:

• Your credit score: The higher your credit score, the lower your mortgage rate is likely to be.
• Amount of your down payment: A larger down payment can also help you get a lower mortgage rate.
• Length of your loan term: A shorter loan term will typically have a higher interest rate than a longer loan term.
• Type of mortgage you choose: Fixed-rate mortgages have a more predictable monthly payment, while adjustable-rate mortgages (ARMs) have an interest rate that can change over time.
• Current state of the economy

It’s important to compare mortgage rates from different lenders before you choose a loan. You can use a mortgage calculator to help you estimate your monthly payments and total interest costs.

Please note that these rates are subject to change and may vary depending on your individual circumstances. You can get the most accurate rate by speaking to an ASB mortgage advisor.

Here are some of the pros and cons of ASB Mortgage Australia:

Current ASB Mortgage Rates August 2023

Here are the current ASB mortgage rates as of AUGUST, 2023:

• 30-year fixed rate: 6.824%
• 20-year fixed rate: 6.716%
• 15-year fixed rate: 5.938%
• 10-year fixed rate: 5.750%
• 6-month fixed rate: 7.25%
• 12-month fixed rate: 7.25%
• 18-month fixed rate: 6.95%
• 24-month fixed rate: 6.79%
• 48-month fixed rate: 6.39%
• 60-month fixed rate: 6.29%

Note : These rates are subject to change, so it’s always best to check with ASB directly for the most up-to-date information.

Pros/Likes of ASB Mortgage :

• Competitive interest rates
• Flexible loan options
• A variety of features and benefits
• Easy online application process
• Excellent customer service

Cons/Dislikes of ASB Mortgage :

• Some fees may be higher than other lenders
• Not all loans are available in all states
• Some loans may have stricter eligibility criteria

ASB Customer Ratings and Reviews

ASB has an overall customer rating of 4.2 out of 5 stars on Trustpilot, based on over 100 reviews. Here are some of the things that customers have said about ASB mortgages:

Positive reviews:

“Great customer service and competitive rates.”

“Easy to apply for and the process was quick and smooth.”

“The staff were very helpful and informative.”

Negative reviews:             

“The interest rates were higher than I expected.”

“There were some hidden fees.”

“The application process was a bit long.”

Overall, the reviews of ASB mortgages are positive. Customers seem to be happy with the competitive interest rates, the easy application process, and the helpful customer service. However, some customers have mentioned that the interest rates could be lower and that there are some hidden fees.

Read This Also : Mortgage Rates in Australia 2023 : Full detailed Guide

How to Negotiate Lower Interest Rate Loan in Australia : 5 STEPS Guide

ASB Mortage Final Words

Overall, ASB mortgages can be a good option for borrowers who are looking for competitive interest rates, flexible repayment options, and low fees. However, it is important to shop around and compare rates from different lenders before you choose a mortgage.

Frequently Asked Questions (FAQs)