Best interest rates in the market in 2020

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

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  1. grk349

    grk349 Well-Known Member

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    Sunshine Coast
    Surely banks dare not raise rates for a long long time.

    I've a feeling they've an unwritten cartel agreement not to cut rates any further too.
     
    grk349, 5th Aug, 2020
    #321
  2. Leslie

    Leslie Well-Known Member

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    3rd Sep, 2018
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    Perth
    What is the best interest rate in the market for IP loans, interest only at 80%? Thanks in advance
     
    Leslie, 8th Aug, 2020
    #322
    Scaphella likes this.
  3. Jerms

    Jerms Active Member

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    Adelaide
    Just breaking our fixed rate of 4.09% on two loans (due to finish mid December) drawing equity down to 80% LVR for a third property. Fixing two + the redrawn amount at 2.59% and keeping the third mortgage variable at 3.03%.
    This was through my broker, and ending up with the same lender (Adelaide Bank). Only down side is no offset account on these. No charge for redrawn though.
     
    Jerms, 9th Aug, 2020
    #323
  4. KMC

    KMC Member

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    Noosa
    I had a family member obtain commercial finance for sub 2% this month on $20m+ of debt. On a collection of low LVR commercial assets with strong tenancies. Crazy times.
     
    KMC, 11th Aug, 2020
    #324
  5. Beano

    Beano Well-Known Member

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    What bank ?
    LVR less than 40% ?
     
    Beano, 11th Aug, 2020
    #325
  6. KMC

    KMC Member

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    40%. Through Macquarie.
     
    KMC, 11th Aug, 2020
    #326
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  7. Leslie

    Leslie Well-Known Member

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    On interest only loan?
     
    Leslie, 12th Aug, 2020
    #327
  8. Gen-Y

    Gen-Y Well-Known Member

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    Crazy times we live in - money never been so cheap. :D
     
    Gen-Y, 12th Aug, 2020
    #328
  9. Jerms

    Jerms Active Member

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    P&I on all loans, this is through Adelaide Bank.
     
    Jerms, 5th Sep, 2020
    #329
  10. Switchtronics

    Switchtronics Well-Known Member

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    Are these rates with Westpac on ppr?
     
    Switchtronics, 10th Sep, 2020
    #330
  11. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    Gold Coast (Australia Wide)
    2.24 IO fixed 3 years Investment with Bankfirst

    ta
    rolf
     
    Rolf Latham, 11th Sep, 2020
    #331
  12. melbourne171

    melbourne171 Well-Known Member

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    Bank first -Offering multiple offset accounts2, discounted fees and flexible repayments, our Premier Package Home Loan is value-packed.

    upload_2020-9-11_9-54-1.png
     
    melbourne171, 11th Sep, 2020
    #332
  13. Skinman

    Skinman Well-Known Member

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    Perth
    Westpac on Investment Loans
     
    Skinman, 11th Sep, 2020
    #333
  14. Jason123

    Jason123 Member

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    22nd Aug, 2020
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    Location:
    Brisbane
    May I ask you the conditions on this loan?

    Does it allow offset? LVR requirement? Any ongoing fees? Amount of loan?
     
    Jason123, 14th Sep, 2020
    #334
  15. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    Location:
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    no offset, but can be cocktailed with a variable and offset


    Less than or equal to 80 %

    390 annual fee as per majors

    50 k min loan

    ta
    rolf
     
    Rolf Latham, 14th Sep, 2020
    #335
  16. Redom

    Redom Mortgage Broker Business Plus Member

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    Sydney (Australia Wide)
    Rates from bigger players are ticking down after the RBA's funding facility expansion. E.g. can get 2.56% with CBA (1.99% discounts) relatively small lending size. OO fixed @ 2.14% available too.

    More to come from others in coming weeks.
     
    Redom, 15th Sep, 2020
    #336
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  17. David_SYD

    David_SYD Well-Known Member

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    Location:
    Sydney
    I’ve just been provided with:

    ING - 2.19 fixed for 2 or 3 years - Resi
    ING - 2.94% variable for offset facility
    NAB - 2.19 fixed for 2 or 3 years - Resi

    Somebody just got sub 2% (I believe 1.89%) on a larger loan with Macquarie but not sure of the terms of this loan
     
    David_SYD, 15th Sep, 2020
    #337
    Leslie likes this.
  18. KFC_8

    KFC_8 Active Member

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    6th Apr, 2020
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    Location:
    Sydney
    Those are ridiculous rates from CBA. I called the bank and they won't do anything close to that number.
     
    KFC_8, 17th Sep, 2020
    #338
  19. Francesco

    Francesco Well-Known Member

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    Location:
    Canberra, Brisbane
    CBA will do it for different people. My friend got 2.1% fixed 3 years P&I for IP when turning from IO.
     
    Francesco, 17th Sep, 2020
    #339
  20. melbourne171

    melbourne171 Well-Known Member

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    melbourne171, 19th Sep, 2020
    #340
    David_SYD likes this.
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