Best interest rates in the market in 2020

Discussion in 'Loans & Mortgage Brokers' started by Switchtronics, 8th Jan, 2020.

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  1. Switchtronics

    Switchtronics Well-Known Member

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    {Note from mods - this thread continues from here: Best interest rates in the market in 2019}



    macquaries 3.59% investment loan
    and 3.09% ppr p and i seem to be still one of the better value bank deals atm
     
    Last edited by a moderator: 31st Mar, 2020
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  2. spludgey

    spludgey Well-Known Member

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    Rates for St George seem to have gone up 0.15% unfortunately, which is annoying given that I've got $1.2M coming off fixed next month.
     
  3. KeithRichards

    KeithRichards New Member

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    Hi all

    New around here, already finding so much good info!

    Am looking to get a loan for my (future) PPOR. Loan amount will be in the vicinity of $200-$250k, and looking for offset.

    Just wondering if it is likely that lenders will have ‘New Year’ specials or the like? I’ve received a few quotes from a broker, however wondering if I should hold out for a few weeks in the event there is an improved offer?

    Cheers
    Keith
     
  4. Morgs

    Morgs Well-Known Member Business Member

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    Which STG rates went up?

    @KeithRichards hard to say... there are some pretty competitive deals out there already. A potential rate cut in the coming months could mix it up further.
     
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  5. jins13

    jins13 Well-Known Member

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    Firstmac PI 3.19% for investment loans LVR 80
     
  6. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    its a good rate, but for most folsk with middling incomes and non ded debt, the 3.39 IO option is cashflow +

    ta
    rolf
     
  7. fwmonger

    fwmonger Active Member

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    What is a good rate for a PPOR, P&I, 90% LVR?
     
  8. San2018

    San2018 Well-Known Member

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    With Maquarie, I have signed PPOR loan for 2.99, 70% LVR .
     
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  9. Lindsay_W

    Lindsay_W Well-Known Member

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    Between 3% - 3.2%
     
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  10. JohnPropChat

    JohnPropChat Well-Known Member

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    Variable or fixed?
     
  11. San2018

    San2018 Well-Known Member

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    Variable
     
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  12. geeza

    geeza Well-Known Member

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    3x 3.94% (2yr fixed, 1 year in now)
    1x 3.39% variable (was 3.79% upon settlement in Oct ‘19

    All with St George
     
  13. spludgey

    spludgey Well-Known Member

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    Let's just hope those aren't the best rates in the market! ;)
     
  14. Yson

    Yson Well-Known Member

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    Am going to renew my investment io fixed rates which was end a mth ago, n on a 4.09% variable io with cba, so asking to fix 3.44% pi but anz is 3.29 n other banks are lower so I ask cba if the rates is wrong n today I got a msg from them saying they are offering me 3.34%, it is really true that u can ask for more, heehee
     
  15. Lindsay_W

    Lindsay_W Well-Known Member

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    So you're on variable IO investment with CBA at the moment and you want to fix your rates on P&I repayments?
    Even with the lower interest rate for the P&I product your monthly cash flow is going to be worse off so carefully consider if this is the right move - You can always switch from IO to P&I easily but switching back to IO requires new serviceability calculations to be completed and you may not qualify, something to be aware of...
     
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  16. Navjit

    Navjit Member

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    Was able to get 3.45% variable with NAB on Investment P+I on the NAB Choice Package by talking to the retention team, intially they were only offering at best 3.6% on the package.
     
  17. Yson

    Yson Well-Known Member

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    Yes I know and this is the risk I am talking as there is a gap of 0.3% diff between io n pi, so I will take it as I don’t think I will be buying in near future as max already
     
  18. geeza

    geeza Well-Known Member

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  19. geeza

    geeza Well-Known Member

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    I’m not sure if fixing is the best option at present. Likely a few rate cuts in the near future. Everyone’s circumstances are different however
     
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  20. Yson

    Yson Well-Known Member

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    But staying at variable at 4.09% is also a killer