3.88% Fixed for 2 years P & I with NAB - Seems like a good rate?

Discussion in 'Loans & Mortgage Brokers' started by Beachy, 15th Aug, 2017.

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  1. GetRIDof5CENTpiece

    GetRIDof5CENTpiece Well-Known Member

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    What about variable... what are there best rates people are getting from the major banks for investment P&I loan?
     
    GetRIDof5CENTpiece, 7th Sep, 2017
    #101
  2. samiam

    samiam Well-Known Member

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    Newcastle permanent offering 3.64 P&I fixed for 2 years
     
    samiam, 7th Sep, 2017
    #102
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  3. Dean Collins

    Dean Collins Well-Known Member

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    Unfortunately Newcastle Permanent DO NOT lend to expats working overseas as I found out today (even in PAYG job roles).....

    So not a bank we can consider for our next IP refinance that's coming up in a few months.
     
    Dean Collins, 8th Sep, 2017
    #103
  4. scientist

    scientist Well-Known Member

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    Great rate - is this for PPOR or IP?
     
    scientist, 10th Sep, 2017
    #104
  5. samiam

    samiam Well-Known Member

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    I was told it's for Ip too- currently on specials- eye-catching stickers on the windows!
    my broker told me not to do with them though as equity pulls may be difficult with NP. Ask around the brokers here before you commit I guess
     
    samiam, 10th Sep, 2017
    #105
  6. Invest_noob

    Invest_noob Well-Known Member

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    Just got a call from ANZ, the 3.88% 2 years fixed P&I offer has just ended, rates are back to 4.19% with them now.
     
    Invest_noob, 11th Sep, 2017
    #106
    Dean Collins likes this.
  7. scientist

    scientist Well-Known Member

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    Can't hurt to try - if NP won't let you do a future refinance, go elsewhere in future.
     
    scientist, 13th Sep, 2017
    #107
  8. Colin Rice

    Colin Rice Mortgage Broker Business Member

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    Done a heap of these lately for investors and a "work around" is to split the loan allowing a portion for variable congruent with existing offset balance plus some room to add savings over the next 2 years as well to get max benefit. If no offset required then happy days.
     
    Colin Rice, 19th Sep, 2017
    #108
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  9. Jess Peletier

    Jess Peletier Mortgage Broker & Finance Strategy, Aus Wide! Business Member

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    Yep, good work around for the offset issue.
     
    Jess Peletier, 19th Sep, 2017
    #109
  10. rizzle

    rizzle Well-Known Member

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    BW have just bumped by I/O PPOR loan to 4.65%.I get the impression from this thread that I would be better off elsewhere and on P&I. Is that a fair assessment?
     
    rizzle, 24th Sep, 2017
    #110
  11. Jess Peletier

    Jess Peletier Mortgage Broker & Finance Strategy, Aus Wide! Business Member

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    Probably. BW are at 3.92 P and I on their complete package so that might be an option if you don't want to move.
     
    Jess Peletier, 24th Sep, 2017
    #111
    rizzle likes this.
  12. thydzik

    thydzik Well-Known Member

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    just switched from NAB to Westpac.
    3.79% variable on owner occupied, 4.34 on investment. both P&I
     
    thydzik, 29th Sep, 2017
    #112
  13. CROMAX

    CROMAX Active Member

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    How hard is it going to be to switch back to IO in the future or in the present for that matter if required? I have never done this and only heard it's quite difficult.
     
    CROMAX, 30th Sep, 2017
    #113
  14. Jess Peletier

    Jess Peletier Mortgage Broker & Finance Strategy, Aus Wide! Business Member

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    It requires new servicing/full application for most lenders.
     
    Jess Peletier, 30th Sep, 2017
    #114
  15. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    Most lenders want a full servicing and app done

    Additionally, some lenders arent keen on IO at all, either by policy exclusion ( for eg Westpac PPOR and IO) or by blunt force decline and force PI especially so on PPOR secured loans.

    ta

    rolf
     
    Rolf Latham, 30th Sep, 2017
    #115
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  16. Clayton

    Clayton Well-Known Member

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    Patiently waited to see if Westpac launched any special offers but to no avail, decided wise to not continue the higher repayments at my current 5.22% Interest only variable.
    Broker has recommended fixing Interest only. 2 questions if anyone can offer their input:
    1 Is the current trend fixing 2 or 3 years?
    2 Anyone being offered anything through Westpac different to their advertised 4.39 & 4.49%
    Cheers guys
     
    Clayton, 5th Oct, 2017
    #116
  17. tobe

    tobe Well-Known Member

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    Get your broker to do pricing with westpac. They seem to take 24-48 hours but then you'll know.
    Having someone else tell you they got x rate won't help as lenders price individually now.
     
    tobe, 5th Oct, 2017
    #117
  18. CROMAX

    CROMAX Active Member

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    I just got approval for a IO investment loan with Westpac at 5% flat.
     
    CROMAX, 6th Oct, 2017
    #118
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  19. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    depending on volume 4.8x is doable

    ta
    rolf
     
    Rolf Latham, 6th Oct, 2017
    #119
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  20. WattleIdo

    WattleIdo midas touch

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    Fixed or variable?
     
    WattleIdo, 6th Oct, 2017
    #120
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