Best interest rates in the market in 2020

Seems like everyone is gunning for the main lenders!!

 

@Skinman - dont think its standard, but have seen some borrowers have it negotiated down. Not sure if that reason is enough though.

 

I would suggest an ok result for big 4. Recently had ing and hsbc at 2.84% under 500k ppr p& i loan.

Investment I have found Macquarie pretty competitive at 3.24% inv p& i 80% lvr
Suncorp, Citibank and hsbc around 3.28%

 

I was also inspired to ring CBA too see if they’ll move in any of my rates.

OO, PI variable, loan size of $140k (< 50% LVR) is now at a discount of 1.57%. This is a loan for investment purposes, so getting a pretty good rate anyway.

INV, PI variable, loan size of $140k (< 70% LVR) is now at a discount of 1.7%.

Refinance of INV, PI variable, loan size of $500 (< 80% LVR) is at a discount of 1.85%.

I also have 2 fixed loans - so total lend with CBA is 1.5 mil.

 

I asked for 1.7% off svr, but was also offered 1.57% off svr when i called cba,for Owner occupier loan thats going toP/I in the next few mths
It must be the going rate of the day
I wonder why cba isnt matching anz 2yr fixed rate of 2.68% for OO at the moment
It sure looks tempting.

 

Particularly with the refinance rebate there is lots of movement on the ANZ 2 year fixed OO product at the moment.

Lender fixed rates tend to move in cycle. For a long time it was STG/WES who had sharp rates. ANZ were first to move to the lower level, ING down further again but they're not for everyone with their assessment rate. Has been a long time since CBA have been competitive in the fixed space though. NAB moved today but they're not competitive either.

 

would cba be willing to match you think?

 

Based on what I've seen recently - no.

Might down the track though.

 

Crystal ball time.....
What do people think will happen to rates /lending when we hit a recession?
Do they fall? Huge rise?

 

Rise very unlikely my guess maybe 1 more drop

 

Don’t listen to me! I fixed about $2m 12 months ago!!!

 

OUCH! worth the break fee it of you went to another bank that pays incentive?

 

Yep I would but I’m stuck with my current lender due to servicing and I’m crossed. I’ve been and still am a big advocate of crossing in the right circumstances and it helped me get to where I got to in terms of my portfolio but this is one of the situations were it goes against you.

 

So, no one has loans with Pepper???!

 

Inv IO pepper $150k 4.4%, before rate cut. Not outstanding at all, I've never actually rang and asked for a discount with pepper, assumed they'd laugh and tell me to go for it if I threatened to leave.

 

Wow!!, Therr is alot of talk about their full doc loans , aparently similar to bug 4

 

Investment p&i loan at 2% can't be far away. Make it happen and now please.

 

Even 2% will be a burden when people start loosing jobs.

 

Mine was full doc back in 2017, I just didn't service with banks. We're about to put that property up for sale so I haven't tried to push them.

I'll be curious to here from others too on their Pepper rates, in case the property doesn't sell.

If you think that is bad, I have a $75k loan with AMP at 5.17%, spoke to retenions......they sent me the discharge paper work