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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    xcept that CFCU arent giving anything :) was guaranteed by gov, FHLDS places now all exhausted.

    Used to US CFCU in the old days - very flexible credit

    ta
    rikf
     
    Rolf Latham, 20th Sep, 2020
    #341
  2. David_SYD

    David_SYD Well-Known Member

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    David_SYD, 20th Sep, 2020
    #342
  3. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    All FHLDS places have been allocated as of last week...........

    ta
    rolf
     
    Rolf Latham, 20th Sep, 2020
    #343
  4. David_SYD

    David_SYD Well-Known Member

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    Ahh that’ll be why. Good deal.
     
    David_SYD, 20th Sep, 2020
    #344
  5. Brisbane04

    Brisbane04 Well-Known Member

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    Loans.com.au have a great deal at present it’s called the Smart Booster Investor Bundle
    P+I variable 1 year 1.99% p.a. 2.71% comparison and IO 1.99%p.a. 1year 2.71% comparison. Anyone taken up this deal? What are people’s thoughts on Loan.com.au? Cheers
     
    Brisbane04, 24th Sep, 2020
    #345
  6. Leslie

    Leslie Well-Known Member

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    I have PPOR loan with Loans.com. so far good. very good customer service and low interest rates. Unfortunately could not transfer my IP loan due to low equity.
     
    Leslie, 24th Sep, 2020
    #346
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  7. almostthere

    almostthere Well-Known Member

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    Just negotiated 2.09% fixed for 2 years & 2.64% Variable with Nab (existing lender), 77% LVR

    Was considering refinancing with ANZ but the best they could do was 2.24% fixed 2.79% variable with $4000 cashback
     
    almostthere, 25th Sep, 2020
    #347
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  8. Zammy

    Zammy Well-Known Member

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    Do you have any offset/redraw facility with that loan? Is it 100% fixed or there are some variable as well?
     
    Zammy, 27th Sep, 2020
    #348
  9. almostthere

    almostthere Well-Known Member

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    Have a small 40k variable split with 100% offset at 2.64
     
    almostthere, 29th Sep, 2020
    #349
  10. Arcticfire

    Arcticfire Well-Known Member

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    The new variable rates at Macquarie Bank are really attractive

    Home loans

    particularly if you are 60% LVR or under

    2.49 PPOR variable P and I

    2.69 Investment variable P and I

    3.09 investment variable I and O
     
    Arcticfire, 10th Oct, 2020
    #350
  11. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    Better still approval in 2 days, not back and forth for 3 mths with WBC and ANZ

    there is a good reason why MAC is killing it in the broker share segment

    Master limit as a bonus

    ta
    rolf
     
    Rolf Latham, 10th Oct, 2020
    #351
  12. Tyla

    Tyla Well-Known Member

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    Is that P&I Owner Occupied?
     
    Tyla, 11th Oct, 2020
    #352
  13. innovatism

    innovatism Well-Known Member

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    What's the best interest rate currently for investment loans for construction? Both fixed and variable.....please.
    Also, if i choose one bank, how long do I need to stick with it before transferring to some other bank and do I need to pay LMI every time( I think yes? ) if LVR is more than 80 percent.

    Thanks
     
    innovatism, 12th Oct, 2020
    #353
  14. Peter_Tersteeg

    Peter_Tersteeg Mortgage Broker Business Member

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    Construction loans can't be fixed, they must be variable as they're drawn down over time as the construction proceeds.

    There's no minimum time you need to stay with a lender, but LMI is not transferable, so if the LVR remains above 80%, you'd pay LMI again. It wouldn't be worth refinancing simply to get a better rate if you have to pay LMI again.

    Interest rates for construction loans are usually the same as the corresponding variable product. A lot more specific information is required to suggest what the most appropriate lender and product would be.
     
    Peter_Tersteeg, 12th Oct, 2020
    #354
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  15. innovatism

    innovatism Well-Known Member

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    Thanks Peter, helpful, as always !
     
    innovatism, 12th Oct, 2020
    #355
  16. Mingeta

    Mingeta New Member

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    Nab - 2.64% (offset variable) ..fixed - 2.19 %
     
    Mingeta, 13th Oct, 2020
    #356
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  17. innovatism

    innovatism Well-Known Member

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    Is that PI or IO?
     
    innovatism, 13th Oct, 2020
    #357
  18. Dan Donoghue

    Dan Donoghue Well-Known Member

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    P&I Fixed term is 2 years. 1 or 3 years pushes it to 2.29%.

    The none fixed is 2.69% where LVR <= 80% for P&I or 4.02 for IO.

    These rates are for OO, not IP.
     
    Dan Donoghue, 19th Oct, 2020
    #358
  19. thydzik

    thydzik Well-Known Member

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    just shifted my owner occupied to FreedomLend for variable 2.17%

    found out nab gives $3k cash to try and get you to stay.
     
    thydzik, 19th Oct, 2020
    #359
  20. Gwydaer

    Gwydaer New Member

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    Hi,

    I've been quoted recently that the best rate for a non-ADI lender is around 4.1%, for a townhouse buy, IO variable loan for 85-90% LVR. Does anyone think this seems reasonable?
     
    Gwydaer, 19th Oct, 2020
    #360
    Gforce likes this.
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