Best interest rates in the market in 2021

Discussion in 'Loans & Mortgage Brokers' started by thunderstrike888, 6th Jan, 2021.

Join Australia's most dynamic and respected property investment community
  1. Never giveup

    Never giveup Well-Known Member

    Joined:
    13th Oct, 2018
    Posts:
    1,537
    Location:
    Sydney
    Could you please tell me LVR with SgB 1.84% seems great.
     
  2. Never giveup

    Never giveup Well-Known Member

    Joined:
    13th Oct, 2018
    Posts:
    1,537
    Location:
    Sydney
    Did you pull any equity or its like to like?
    4K is good others only 3k or 2k.

    Did you get credit card etc.
     
  3. Clive Palmer's Yacht

    Clive Palmer's Yacht Well-Known Member

    Joined:
    23rd Apr, 2019
    Posts:
    280
    Location:
    Sydney
    They offered this up to 80% LVR I recall, which seems to be the watermark generally.

    As someone with a property in the UK, I'm aware they've moved to a model with differential pricing in steps all the way down to 50% LVR or below. I wonder if we'll eventually do similar here?
     
    Never giveup likes this.
  4. Marty McDonald

    Marty McDonald Mortgage broker Business Member

    Joined:
    22nd Jun, 2015
    Posts:
    874
    Location:
    Sydney North Shore and Norther beaches
    Unlikely to see any long term strategy innovation as they have decided to pull out of the Australian market. For this reason i wouldn't offer them to my clients as too much uncertainty.
     
  5. Clive Palmer's Yacht

    Clive Palmer's Yacht Well-Known Member

    Joined:
    23rd Apr, 2019
    Posts:
    280
    Location:
    Sydney
    Sorry for confusion- SGB = St George Bank.

    When I referred to “they” in UK context, just mean all lenders over there.
     
    Lindsay_W likes this.
  6. Redwing

    Redwing Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    7,436
    Location:
    WA
    On the site at present

    upload_2021-7-29_17-4-5.png
     
    Clive Palmer's Yacht likes this.
  7. Clive Palmer's Yacht

    Clive Palmer's Yacht Well-Known Member

    Joined:
    23rd Apr, 2019
    Posts:
    280
    Location:
    Sydney
    They’ve all moved 40-50 points at longer tenors since around May it seems.
     
    Redwing likes this.
  8. Lindsay_W

    Lindsay_W Well-Known Member

    Joined:
    1st Jul, 2015
    Posts:
    4,982
    Location:
    QLD/Australia Wide
    Some lenders in Aus do this, except usually from 60%LVR up to 90% although most really only vary from above or below 80%LVR
     
  9. Propin

    Propin Well-Known Member

    Joined:
    7th Mar, 2016
    Posts:
    3,618
    Location:
    Perth
    2.39 Investor IO in advance - 2yr rate -ends 6/23

    2.29 Investor P&I- 2yr - fixed until July 23. Broke a 2.59 rate F until Jan 22 /no penalty

    2.99 V - P&I with offset -investor- the rate comes down to less then 1%
     
  10. marty998

    marty998 Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    627
    Location:
    Sydney
    Have a 2yr fixed rate P&I investor loan (3.49%) rolling off from Commbank end of next week. Not a huge loan, ~$325,000 on a property worth ~$600k. My total borrowing with CBA is about $1m.

    About three weeks ago ticked the box in Netbank to accept another 3 years at 2.39%.

    On Friday CBA sends me a message saying they're offering an additional discount of 0.35%, which will bring the rate down to 2.04%.

    Happy days :):):)
     
    momentum26, craigc and Never giveup like this.
  11. Manic

    Manic Well-Known Member

    Joined:
    23rd Nov, 2015
    Posts:
    61
    Location:
    Melbourne
    2.39% Inv IO 2Y Fixed
    1.89% PPOR IO 2Y Fixed
    2.91% Inv VAR IO
    About 70% LVR

    How does that sound?
     
  12. Owlet

    Owlet Well-Known Member

    Joined:
    25th Jun, 2015
    Posts:
    757
    Location:
    VIC
    Which bank allowed you to break with no penalty? Was there a particular reason they did this?
     
  13. HBK

    HBK Well-Known Member

    Joined:
    27th Jul, 2021
    Posts:
    424
    Location:
    Sydney
    Your getting 2.69% on weath package? Is that for p&i or IO ?
     
  14. Propin

    Propin Well-Known Member

    Joined:
    7th Mar, 2016
    Posts:
    3,618
    Location:
    Perth
    No reason as far as I know. I’d forgotten I’d fixed it a few months earlier and when I enquired about fixing it at the lower rate they advised it was already fixed although would do it with no penalty. I’ll PM you.
     
  15. DoingOK

    DoingOK Well-Known Member

    Joined:
    3rd Jul, 2018
    Posts:
    136
    Location:
    queensland
    Hi manic, who is your 2.91 up bar with?
     
  16. Sheldrick

    Sheldrick Well-Known Member

    Joined:
    22nd Feb, 2017
    Posts:
    216
    Location:
    Queensland
    My fixed rate investment loan (P&I) is coming to an end soon in November.

    I know Westpac is offering 2.29% fixed P&I for two years. Does anyone know any better offers?

    I would like fixed P&I. My preference is for one year, but I'll take two if it's a bit cheaper. 80% LVR, loan amount $550k.
     
  17. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

    Joined:
    14th Jun, 2015
    Posts:
    10,599
    Location:
    Gold Coast (Australia Wide)
    Citi and 86 400 both doing 2.19 for 2 years PI, but not worth moving usually for that

    ta
    rolf
     
  18. Tattler

    Tattler Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,065
    Location:
    Sydney
    Just got my offer from CBA for refinancing one of my loan from another bank to CBA:

    - New Investment 2 year fixed IO: 2.39%
    - My existing CBA loans: SVR OO P&I with offset: dropped to 2.43%
    - My existing CBA loans: SVR Investment IO with offset: dropped to 3.06%

    Not sure if this is the best deal but it suits me as all the rates for existing loans with CBA have dropped as a result.
     
    marty998 likes this.
  19. Sheldrick

    Sheldrick Well-Known Member

    Joined:
    22nd Feb, 2017
    Posts:
    216
    Location:
    Queensland
    Just got 2.29% with CBA for my IP (fixed 3 years, P and I).

    Thought that was pretty good.
     
    Propin and ChrisP73 like this.
  20. Yson

    Yson Well-Known Member

    Joined:
    4th Jan, 2016
    Posts:
    361
    Location:
    Sydney
    How u get 2.29 as I can only see 2.39 from the web as my existing is ending soon n I want to re fix for another 3 yr?
     

Build Passive Income WITHOUT Dropping $15K On Buyers Agents Each Time! Helping People Achieve PASSIVE INCOME Using Our Unique Data-Driven System, So You Can Confidently Buy Top 5% Growth & Cashflow Property, Anywhere In Australia