Bank Vic any opinions? or 3

Discussion in 'Loans & Mortgage Brokers' started by Brisbane04, 8th Feb, 2019.

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  1. Brisbane04

    Brisbane04 Active Member

    Joined:
    18th Jun, 2015
    Posts:
    37
    Location:
    Victoria
    Looking at leaving NAB due to their reluctance to re fix fixed rate interest only loans. I currently have Salary Packaging and a Meals Card from my work attached to Bank Vic. Having looked at their Interest rates they look very competitive. They have offered 3.79% P+I variable OO and fixed rates of IO 2yrs 4.09% or 3yrs 4.14%. What are people’s thoughts about these rates and Bank Vic. Cheers Martin
     
  2. jazzsidana

    jazzsidana Mortgage Brokers - Investment Savvy Business Member

    Joined:
    27th Jan, 2018
    Posts:
    439
    Location:
    Melbourne
    For IO, it's good rate..

    Cheers,
     
  3. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

    Joined:
    14th Jun, 2015
    Posts:
    5,311
    Location:
    Gold Coast
    Does the vic bank product allow active debt recycling ?

    If one is comfortable with how that works and jumping into the equities markets, typical modelled outcomes result in effective rates of below 3 % as a result of the time shavings off the mortgage.

    I often see people focus on headline rate, later finding out that the product doesnt actually do what they want
    ta
    rolf