ANZ Variable Investment Loan Rate

Discussion in 'Loans & Mortgage Brokers' started by Taku Ekanayake, 12th Aug, 2016.

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  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.
     
    Taku Ekanayake, 12th Aug, 2016
    #1
  2. Coota9

    Coota9 Well-Known Member

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    ANZ Investment loan
    339K @ 90% LVR recently priced to 4.07% I/O
     
    Coota9, 12th Aug, 2016
    #2
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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 ???
     
    Taku Ekanayake, 12th Aug, 2016
    #3
  4. Coota9

    Coota9 Well-Known Member

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    Having a great broker helps,cost me 5 minutes to send an email..
     
    Coota9, 12th Aug, 2016
    #4
  5. Jess Peletier

    Jess Peletier Mortgage Broker & Finance Strategy, Aus 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.
     
    Jess Peletier, 12th Aug, 2016
    #5
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  6. Colin Rice

    Colin Rice Mortgage Broker 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.
     
    Colin Rice, 13th Aug, 2016
    #6
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  7. tobe

    tobe Well-Known Member

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    It's interesting, ANZ pricing doesn't ask about LVR.
     
    tobe, 13th Aug, 2016
    #7
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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
     
    Jamie Moore, 13th Aug, 2016
    #8
  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.
     
    jins13, 13th Aug, 2016
    #9
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  10. Coota9

    Coota9 Well-Known Member

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    Agree,go harder as I think the banks can just afford it!!;)
     
    Coota9, 13th Aug, 2016
    #10
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  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.
     
    Taku Ekanayake, 13th Aug, 2016
    #11
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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.
     
    TaylorChang, 13th Aug, 2016
    #12
  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
     
    Rolf Latham, 13th Aug, 2016
    #13
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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
     
    Rolf Latham, 13th Aug, 2016
    #14
  15. TaylorChang

    TaylorChang Well-Known Member

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    high 3% for now. maybe in a next few months low 3%
     
    TaylorChang, 13th Aug, 2016
    #15
  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:
     
    TaylorChang, 13th Aug, 2016
    #16
  17. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Have you considered 'moving' in?
     
    Terry_w, 13th Aug, 2016
    #17
  18. tasksta

    tasksta Well-Known Member

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    I just switched to ANZ 4.07% IP and 3.8% OO
     
    tasksta, 13th Aug, 2016
    #18
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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....
     
    S0805, 13th Aug, 2016
    #19
  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:
     
    S0805, 13th Aug, 2016
    #20
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