Best IO rates

Discussion in 'Loans & Mortgage Brokers' started by Burramys, 9th Jun, 2018.

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  1. L3ha7

    L3ha7 Well-Known Member

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    Wow, that's good. on CBA- it shows for 3 years :
    3 year fixed (investment)

    4.09% p.a.

    Comparison rate

    5.36% p.a.


    @Rolf Latham - does the bank like to do bundle deals ( Big loans e.g. $1M+)to get better loan or small loans also acceptable ?
     
    Last edited: 1st Aug, 2018
    L3ha7, 1st Aug, 2018
    #21
  2. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    on fixed rates, littlish loans are ok.

    on variable, the pricing can be significantly better for say a mill loan vs 150.

    With small loans, you need to also consider the cost of the pro pack fee to get the great fixed rates

    loans aint loans

    ta
    arolf
     
    Rolf Latham, 1st Aug, 2018
    #22
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  3. sash

    sash Well-Known Member

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    I just got 3.89% I/O investment for a 3 year rate.

    Cracking rate...now negotiating with Westpac for a similar rate....will let people know how I go.
     
    sash, 4th Aug, 2018
    #23
  4. Brisbane04

    Brisbane04 Well-Known Member

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    With who???
     
    Brisbane04, 4th Aug, 2018
    #24
  5. sash

    sash Well-Known Member

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    Suncorp
     
    sash, 5th Aug, 2018
    #25
  6. L3ha7

    L3ha7 Well-Known Member

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    Is the 3.89 fixed IO or variable?
     
    L3ha7, 5th Aug, 2018
    #26
  7. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    that would be fixed 3 year IO rack plus another 10 off
    ta

    rolf
     
    Rolf Latham, 5th Aug, 2018
    #27
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  8. sash

    sash Well-Known Member

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    Sure is....

    Yep....rack rate is 3.99% I/O on investments loans....got 0.1% off.

    Now working on Westpac .....hoping to get close to that rate...lets see....
     
    sash, 5th Aug, 2018
    #28
  9. sash

    sash Well-Known Member

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    Just got Westpac rate of 4.19% for 3yrs fixed I/O .....

    Not sure if that is a great rate....but I am happy with it..as it is only for 1 property locked that in.. Still points over the Suncorp rate. ...the majors are a lot more problematic.
     
    sash, 7th Aug, 2018
    #29
  10. spludgey

    spludgey Well-Known Member

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    If you can't afford P&I, you most likely won't qualify for a new IO loan, so be happy with what you've got!
     
    spludgey, 7th Aug, 2018
    #30
  11. L3ha7

    L3ha7 Well-Known Member

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    Did you check with any broker @sash ? Perhaps they can help!!
     
    L3ha7, 7th Aug, 2018
    #31
  12. sash

    sash Well-Known Member

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    Nope most can't help...I am better off negotiating on my own....very few could have got the rate from Suncorp.

    The Westpac rate was supposed to be 4.59% (package rate) ....they took off another 0.4%!

    I am ok with this....have 3-4 more to fix in December maybe rates will drop further....

    The plan is to get an average rate of 4.35% across my entire portfolio based on I/O....that would be better than most people P/I rates.
     
    sash, 7th Aug, 2018
    #32
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  13. jyeung80

    jyeung80 Well-Known Member

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    Managed to get 4.29% var INV I/O. Doesn't look like it's the absolute best rate out there, but looks like one of the better ones.
     
    jyeung80, 8th Aug, 2018
    #33
  14. Codie

    Codie Well-Known Member

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    4.14% IO & 3.75% P&I - Variable 6 months ago
     
    Codie, 8th Aug, 2018
    #34
  15. sash

    sash Well-Known Member

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    With who? and how long is it fixed?
     
    sash, 9th Aug, 2018
    #35
  16. L3ha7

    L3ha7 Well-Known Member

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    U bank:-
    • FIXED RATES (P&I AND IO)
      1 Year Fixed 3.59%
      3 Year Fixed 3.74%
      5 Year Fixed 4.09%.
    Any good?
     
    L3ha7, 25th Aug, 2018
    #36
  17. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    if the primary focus is a low fixed rate

    what could not be good ?

    ta
    rolf
     
    Rolf Latham, 25th Aug, 2018
    #37
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