Best interest rates in the market in 2018

Managed to get 3.59% var OO P&I $1.24m with nab.
$1250 switching bonus as well.

 

Following me prompting my broker, ING gave me a discount of 1.18% last week to get to 4.39% on a P&I investment variable loan.

Which I think means that I’ve been paying way more than I should have up until now!

Broker said no point in moving to another bank as the discharge costs to move from ING are $250. However, ING account fees are around $300 pa ... so maybe swings and roundabouts...

 

Joynz, there are several factors involved in refinancing and their can be many good strategic reasons not to move. Including also the fear that the next lender may raise their rates.

Even without a broker or any negotiation you could refinance to a bank that has advertised rates that are lower than what you are currently paying.

Just as long as the real reason stopping you from refinancing isn't a lazy broker with an interest in ING.

 

It wouldn't be hard to save that $250 discharge fee. If rate is the only consideration, there's deals under 4% P&I with no annual fee.

 

Jess is right, if rate is the only issue you could easily recoup the discharge fees etc.

Why dont you at least try to see in ING would drop further. There are banks with advertised rates that are lower, it's not even a matter of trying to convince one lender that the other lender were offering you a special deal.

You could literally say. I can show you a bank with an advertised investor rate below 4.1% with offset etc. and the similar annual fees.

I guess the goal for you is to find a few banks that fit that description, so when you talk to ING you can explicitly name them.

 

Was this direct or via a broker? Which loan specifically and any annual fees?

The other good OO P&I rate I've been quoted for a similar amount of lending is 3.55% @HSBC with no ongoing fees, but no offset. (3.60% with an offset)




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