Best interest rates in the market in 2020

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

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  1. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    Especially good for those with a B double of debt :)

    ta
    rolf
     
  2. Omnidragon

    Omnidragon Well-Known Member

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    Just got 2.9% variable all in on a LOC for $8m (sub 30% LVR), assuming loan is fully drawn, at a big 4 bank. Not too shabby. I was surprised
     
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  3. Property Baron

    Property Baron Well-Known Member

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    Do you have any preferable offset loans lenders
     
  4. Lamby

    Lamby Member

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    Locked in our home loan P&I @ 2.29% fixed for 3 years this week with Commbank. Also settled today on a farm/business loan with Commbank @ 2.99% variable - pretty pleased with that one.
     
  5. spludgey

    spludgey Well-Known Member

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    Sorry to be a stick in the mud, but that doesn't seem particularly good to me. St George is offering 2.64%, for example.

    But don't worry, it's not a bad rate either. I've got fixed loans that are higher than that locked in, with 2 years to go.
     
  6. Lamby

    Lamby Member

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    Sorry Spludgey, bit lost - the Commbank rate is .35 below that St George rate?

     
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  7. spludgey

    spludgey Well-Known Member

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    Oops, sorry, read both of them as 2.99%!
    That's a great IP rate!
     
  8. Skinman

    Skinman Well-Known Member

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    Have you looked into breaking and refixing?

    I just did it on several loans with Westpac. The break fees were substantial but it still worked out being worthwhile getting 2.59% P&I and 2.79% IO.

    Especially when you factor in the breakfees being tax deductible and it’s almost tax return time.
     
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  9. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    The NPV for high income earners usually works out in favour of the borrower for IP loans

    ta
    rolf
     
  10. Scaphella

    Scaphella Well-Known Member

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    Anyone got any decent deals on IP loans lately ? (Fixed or Variable, IO or P&I)
     
  11. Propgoat

    Propgoat Member

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    Following up on this 2.59% seems the lowest atm.
     
  12. snoopy

    snoopy Well-Known Member

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    2.49% fixed p&i on investment loans @ ANZ Is standard pricing atm
     
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  13. Ardi

    Ardi Well-Known Member

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    3.19var IO for 5 years.
     
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  14. Arcticfire

    Arcticfire Well-Known Member

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    That’s a good rate - however it’s a little hard to compare without knowing the loan amount and LVR - is this with one of the big 4 ?
     
  15. ttn

    ttn Well-Known Member

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    Reasonably comfortable paying 3.3 IO SVR ;) The bank needs to make money too
     
  16. Perky29

    Perky29 Well-Known Member

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    Trying to get an IP loan refinance with Suncorp currently - 5 years at 2.84% - P and I
     
  17. Ardi

    Ardi Well-Known Member

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    Between 70/80% lvr. Westpac, loan amount of 380k.
    2x others with 80%lvr at .15 higher as i have additional loans with equity drawn
     
  18. Arcticfire

    Arcticfire Well-Known Member

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    that’s a exceptional rate - particularly considering the relative small loan amount - what is the total lend with Westpac - if you don’t mind me asking

    I’ve also just recently just refinanced to Westpac at a slightly better rate

    3.14% Investment I/O for 5 yrs sub 70 % LVR but that’s on a 3.3 mil lend

    There was a small component in the 3.3 mill of a PPOR loan at 2.59 % variable P and I

    if anyone is interested ANZ were also offering me the same deal

    just a better refinance rebate with Westpac - at the time
     
    Last edited: 27th Jul, 2020
  19. TangibleGoodwill

    TangibleGoodwill Well-Known Member

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    What is considered a high income earner/high household income?

    $150k/$250k?
     
  20. bamp

    bamp Well-Known Member

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    I've got 2.84% Fixed IO for 3 years for an investment loan - is this reasonable?