Best interest rates in the market in 2020

{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

 

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.

 

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

 

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.

 

Firstmac PI 3.19% for investment loans LVR 80

 

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

 

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

 

Between 3% - 3.2%

 

Variable or fixed?

 

Variable

 

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

 

Let's just hope those aren't the best rates in the market!

 

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

 

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...

 

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.

 

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

 

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

 

But staying at variable at 4.09% is also a killer