Best interest rates in the market in 2020

My experience with TicToc has been great. They offer an offset on all loans including fixed for $10 per month. They are Adelaide Bank with a different logo. All the same staff, etc.

 

I am thinking of refinancing OO property valued 900k, may I know what is the best variable rate AMP can offer.? I do have an IP valued 550k, depending on the rate I can refinance as well.

 

Hello. I am looking to renegotiate my rate with CBA as my current rate is 3.59% and I want to look for comparable rates in the market to present to them.

Current LVR: 88% + LMI
Interest Only
Variable Rate
With Offset (Wealth Package)

I am have had this rate with them since settlement which was since around March 2020. Or is it too early to renegotiate my rate? Just getting anxious as there are so many rates in the market around the low 2s. But since my type of loan is probably the type that attracts higher interest rates.

Thank you.

 

With CBA. You can request to rate reviews every 6 months

 

Those rates in the low 2's are not variable Investment IO at 88% LVR that's for sure, so don't get too anxious about it.
3.59% is middle of the road, not the best but not the worst either.
Yes you can request a rate reduction with CBA.

 

Thanks guys, looks like I'm due for a rate review.

 

Hi All. Hope you are well. For anyone who has recently refinanced what are the best investment property rates at the moment? . I have the following at the moment:

Maquarie - 3.06% variable IO (hoping to refinance to a fixed rate below 2.7%)

Suncorp - 3.99% fixed IO

Westpac - split loan 4.99% fixed \ 3.39% variable

I am finding westpac to be very difficult probably due to the fixed portion. They are refusing to give a rate reduction to 3.06% they have never granted me one!)

Cheers

 

This is interesting - I'm experiencing the same with CBA (they received my discharge and countered - however, they won't quite match the offer, even after taking into account switch costs.

 

A 3 minute phone call to BankSA has just got me:

• I/O Owner Occ from 3.83% down to 3.50%
• I/O Investment from 3.93% down to 3.51%

I quoted the latest Macquarie rates for the pricing review.
That's a start, there are better rates, but step 1 was to get the best offer from the current lender.

 

Thanks Rolf, that's very interesting. I'd love to hear more about that - do you know more that you could share? (general info re: what funding costs at the time of loan origination means etc). What makes a loan a losing asset?

 

Hi,

I have my OO loan with CBA lvr arouound 70%.
Thinking to extract equity and buy Inv property.
If I refinance, are there any lenders which will lend upto 85% without incurring lmi? Serviceability is not a problem. Current val is between 1.5-1.65, outstanding 1.01mil
Tia

 

There are but the lenders that offer it aren't good with equity release or cash out.
Where did you get the estimated value from?
You might not need 85% LVR
Suggest you speak to a broker if you haven't already

 

Thanks, Val is based on couple of identical sales in my street noting when bank does it, it might be a bit less
Will touch basr with my broker.

 

Has anyone here got their property/loans in a trust? My resi is at 2.69 fixed 3y and 3.35 variable.

My commercial is at 2.59 fixed 3y. Both ANZ all IO.




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