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Discussion in 'Loans & Mortgage Brokers' started by Jess Peletier, 30th May, 2019.

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  1. Jess Peletier

    Jess Peletier Mortgage Broker & Finance Strategy, Aus Wide! Business Member

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    Jess Peletier, 30th May, 2019
    #1
    Todd, rizzle, HUGH72 and 3 others like this.
  2. Barny

    Barny Well-Known Member

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    Hey Jess I'm holding on and waiting another 18 months, since I'm fixed :)
    Break fees as of yesterday was $5,005 on remaining term.

    The way things are going this time next year we might see a lower flat 3%
     
    Barny, 30th May, 2019
    #2
  3. Jess Peletier

    Jess Peletier Mortgage Broker & Finance Strategy, Aus Wide! Business Member

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    Really?! That's surprising cos your fixed rate is still good. Mine must be about the same.
     
    Jess Peletier, 30th May, 2019
    #3
  4. Barny

    Barny Well-Known Member

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    Yep, I'll call again next week and see as it's different daily. Buying $$$ must be cheap for banks at the moment
     
    Barny, 30th May, 2019
    #4
  5. euro73

    euro73 Well-Known Member Business Member

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    2.99 % FirstMac Fightback... back in the day .... somewhere around 2010/11 or thereabouts... seems like lenders are "banking" on some RBA reductions
     
    Last edited: 30th May, 2019
    euro73, 30th May, 2019
    #5
  6. Toby

    Toby Well-Known Member

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    Pete Wargent posted on Twitter that greater bank have 2.99% 1 year rates... never heard of them but that is bloody low
     
    Toby, 30th May, 2019
    #6
    Islay likes this.
  7. Mike A

    Mike A Well-Known Member

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    We just did a million dollar plus loan with @Terry_w with boq. The worst experience ever and client earns millions of dollars per annum. Awful experience. Would never recommend them to anyone.
     
    Mike A, 30th May, 2019
    #7
    Lindsay_W, MC1, Terry_w and 1 other person like this.
  8. Jess Peletier

    Jess Peletier Mortgage Broker & Finance Strategy, Aus Wide! Business Member

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    Agree, they can be particularly painful. Vanilla deals only. :)
     
    Jess Peletier, 30th May, 2019
    #8
  9. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    Thats the problem, BOQ are a mum and dad lender........, the more income, and the more HNW the client, the more complicated things can get.

    Signed off with wbc nab or cba in 1 to 4 days, yet BOQ and its offshoots can drag something like that out for weeks.

    ta

    rolf
     
    Rolf Latham, 30th May, 2019
    #9
    Lindsay_W and Jess Peletier like this.
  10. Mike A

    Mike A Well-Known Member

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    Yep try 2 months
     
    Mike A, 30th May, 2019
    #10
    Dean Collins likes this.
  11. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    That would be the SLA :)

    ta
    rolf
     
    Rolf Latham, 30th May, 2019
    #11
  12. Islay

    Islay Well-Known Member

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    somewhere
     
    Last edited: 30th May, 2019
    Islay, 30th May, 2019
    #12
  13. Cate Bell

    Cate Bell Well-Known Member

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    Some interesting times ahead.
     
    Cate Bell, 30th May, 2019
    #13
  14. Islay

    Islay Well-Known Member

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    Used to be known as Newcastle Greater Building Society. Many people in Newcastle NSW and surrounding areas have accounts with The Greater or The Perm (Newcastle Permanent).
     
    Islay, 30th May, 2019
    #14
    wilso8948 likes this.
  15. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Advantedge/Choicelend came out with 3.39 2 year fixed today as well.... their variable rate is pretty sharp too. No offset though - but not a bad loan for vanilla owner occ with an aim to smash the mortgage.

    Cheers

    Jamie
     
    Jamie Moore, 30th May, 2019
    #15
    Lindsay_W and Jess Peletier like this.
  16. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    Do you recall the variable rate? probably time for me to make a phone call then. My choicelend P&I is 4.27%
     
    Westminster, 30th May, 2019
    #16
  17. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Canberra, Brisbane and Sunshine Coast
    It’s 3.74 for sub 80% and $200k+

    Cheers

    Jamie
     
    Jamie Moore, 31st May, 2019
    #17
  18. Blacky

    Blacky Well-Known Member

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    Wow. I think I need to make some calls.
    I’m on 4.9% variable. IO investor (sub 80% lvr)
     
    Blacky, 31st May, 2019
    #18
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  19. rizzle

    rizzle Well-Known Member

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    Melbourne
    Thanks Jess - definitely looking to shop around once the inevitable rate cuts take effect.

    EDIT: I'm on 4.59% IO with BankWest for my PPOR. I guess I should call in the interim - what's the best strategy to maximise a rate reduction on a call to their CS team?
     
    rizzle, 31st May, 2019
    #19
  20. Peter_Tersteeg

    Peter_Tersteeg Mortgage Broker Business Member

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    03 9877 3000
    I'd say that 4.59% for this type of loan is actually fairly good. Across several lenders, I'm seeing owner occ IO rates being higher than investment IO rates. The banks don't appear to want people to have IO loans on their own homes.

    If you switch to P&I rates they'll be a lot more negotiable.
     
    Peter_Tersteeg, 31st May, 2019
    #20
    rizzle likes this.
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