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ANZ Variable Investment Loan Rate

Discussion in 'Property Finance' started by Taku Ekanayake, 12th Aug, 2016.

  1. Taku Ekanayake

    Taku Ekanayake Well-Known Member

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    Hi all,

    I'm hoping to gain some visibility from people who currently have an ANZ variable investment property loan and/or from brokers who have been recently writing loans for their clients with ANZ.

    I am currently on 4.79% and I feel this is far too high. The value of my loan with ANZ is $309K and $65K top up.

    The loan start date was beginning of Dec 2015.
     
  2. Coota9

    Coota9 Well-Known Member Premium Member

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    ANZ Investment loan
    339K @ 90% LVR recently priced to 4.07% I/O
     
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  3. Taku Ekanayake

    Taku Ekanayake Well-Known Member

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    To add, mine is at 88% and interest only.

    Thanks for the feedback. Time for a review for me!

    How did you get so low @Coota9 ???
     
  4. Coota9

    Coota9 Well-Known Member Premium Member

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    Having a great broker helps,cost me 5 minutes to send an email..
     
  5. Jess Peletier

    Jess Peletier Mortgage Broker - Australia Wide Business Member

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    Ring them and ask. In LMI it will be tougher though - they know you'll need to pay lmi again if you leave, so generally won't be super generous.
     
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  6. Colin Rice

    Colin Rice Mortgage Broker Australia Wide Business Member

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    @Taku Ekanayake Get a broker to do a pricing request on your behalf as you may get a bigger discount.

    Had a client call Westpac direct and got a 1.15% discount which he mentioned in an email and it apparantley required state manager sign off.

    We did one for him to see if we could better it. Came back at 1.4%. He dropped a bottle of 12 year old scotch to the office a few days later as a thankyou.
     
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  7. tobe

    tobe Well-Known Member

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    It's interesting, ANZ pricing doesn't ask about LVR.
     
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  8. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Call or ask your broker if they can request a pricing discount.

    If lvr is sub 80% you might get a further discount.

    Cheers

    Jamie
     
  9. jins13

    jins13 Well-Known Member

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    I think I need to start getting more assertive/ firm with the banks for a better deal. Could buy more coffees for me during the week.
     
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  10. Coota9

    Coota9 Well-Known Member Premium Member

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    Agree,go harder as I think the banks can just afford it!!;)
     
  11. Taku Ekanayake

    Taku Ekanayake Well-Known Member

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    Thank you very much for the advice all!
    It is evident I need a pricing request. much appreciated.
     
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  12. TaylorChang

    TaylorChang Well-Known Member

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    At least low 4% for investment. It can also be structured to 3%ish, depending on the overall situation.
     
  13. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    Until recently anz haven't been in the price market period

    They will obviously go harder On new buisness today than for established loans where they know the borrower will have to come up with new lmi

    To some extent this is why comparing recent one off outcomes against established factilities while useful can usually prove to be frustrating.

    Although not a perfect analogy, how many times has one bought say a car for 20 000, and yet a month later the same can be bought for 18 k because the manufacturer and or dealer needs to push volume over Margin.

    Retention pricing is definitely worth chasing, sometimes a discharge request is required but even then , the lenders have an rio need that they won't drop below

    Ta

    Rolf
     
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  14. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    3.01 ;). Not this quarter

    Ta

    Rold
     
  15. TaylorChang

    TaylorChang Well-Known Member

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    high 3% for now. maybe in a next few months low 3%
     
  16. TaylorChang

    TaylorChang Well-Known Member

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    imaging what the property price will be like.When the rate goes down to low 3% or even lower :rolleyes:
     
  17. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    Have you considered 'moving' in?
     
  18. tasksta

    tasksta Active Member

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    I just switched to ANZ 4.07% IP and 3.8% OO
     
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  19. S0805

    S0805 Well-Known Member

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    Is this the new loan with them or you got discount on existing loans???.....on similar numbers i've managed to get 1.3% off their svr on IP & PPOR....
     
  20. S0805

    S0805 Well-Known Member

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    That's good rate being with anz. care to share the numbers... lending, lvr, io etc....

    like everyone else they've started throwing discounts at new customers.....its like they punish you for being loyal customer....:rolleyes: