Best fixed rate investor rates P&I and IO

Discussion in 'Loans & Mortgage Brokers' started by dabbler, 22nd Jun, 2019.

Join Australia's most dynamic and respected property investment community
Tags:
  1. dabbler

    dabbler Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    8,572
    Location:
    Sid en e - olympic city
    Hi all,

    What are the best fixed rates for investors ATM, IO and P&I, may as well throw in the non banks and non bank variables....
     
    dabbler, 22nd Jun, 2019
    #1
  2. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

    Joined:
    14th Jun, 2015
    Posts:
    10,634
    Location:
    Gold Coast (Australia Wide)
    VMA 3 year fixed IO at 3.69

    VMA 3.69 PI variable for aggregate volumes > 750 k

    Macq 3.74 PI for " any " loan size, lvr of 70 or less


    AMP Pro pack Inv Special when combined with owner occ debt at 3.49 variable PI, amazing when combined with the Master Limit Product for an Active debt recycle strategy, does have some warts though.

    Loans aint loans !

    ta
    rolf
     
    Rolf Latham, 23rd Jun, 2019
    #2
  3. Athikalaka

    Athikalaka Well-Known Member

    Joined:
    1st Jan, 2016
    Posts:
    188
    Location:
    AU
    With the AMP Master Limit, if they are for Investment purposes, will each splits be under investment rates even though the security is under Owner Occupied? Do they ask its purpose for each split? My current product have splits but they haven't applied investment rates.
     
    Athikalaka, 23rd Jun, 2019
    #3
  4. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

    Joined:
    14th Jun, 2015
    Posts:
    10,634
    Location:
    Gold Coast (Australia Wide)
    The loan type is determined at application, so if owner occ to start with, will remain that way.

    Do you have a LOC in that mix ?

    ta
    rolf
     
    Rolf Latham, 23rd Jun, 2019
    #4
  5. Athikalaka

    Athikalaka Well-Known Member

    Joined:
    1st Jan, 2016
    Posts:
    188
    Location:
    AU
    The product is actually called Line of credit (old connective product no longer available) but the rates are owner occupied. I had the loan paid down completely and drew the equity out and split them for my IP deposits. All splits are deductible
     
    Athikalaka, 23rd Jun, 2019
    #5
  6. WattleIdo

    WattleIdo midas touch

    Joined:
    18th Jun, 2015
    Posts:
    3,429
    Location:
    Riverina NSW
    3.55% 3yr fixed or 3.65% variable for Investors at TMBank
    but only for Brand new business.
    Looks like things are starting to realign but variable, Investor and existing member are phrases which still don't get put together with the best rates whether IO or P&I.
    Now even our best banks look like our energy companies.
    Waiting on better conditions.
     
    WattleIdo, 23rd Jun, 2019
    #6
Build Passive Income WITHOUT Buyers Agents!

Build Passive Income WITHOUT Dropping $15K On Buyers Agents Each Time! Helping People Achieve PASSIVE INCOME Using Our Unique Data-Driven System, So You Can Confidently Buy Top 5% Growth & Cashflow Property, Anywhere In Australia