Credit Union higher rates for IP loans

Discussion in 'Loans & Mortgage Brokers' started by Till Kingdom Come, 31st Jul, 2015.

Join Australia's most dynamic and respected property investment community
  1. Till Kingdom Come

    Till Kingdom Come Well-Known Member

    Joined:
    23rd Jul, 2015
    Posts:
    129
    Location:
    Aussie Aussie Aussie Oi Oi Oi
    Credit Union Australia (CUA) has introduced different variable rates for owner occupiers and investors.

    30 basis points difference

    Who would have thought the small players would not do the same as the biggies?
     
    Till Kingdom Come, 31st Jul, 2015
    #1
  2. Till Kingdom Come

    Till Kingdom Come Well-Known Member

    Joined:
    23rd Jul, 2015
    Posts:
    129
    Location:
    Aussie Aussie Aussie Oi Oi Oi
    Till Kingdom Come, 31st Jul, 2015
    #2
  3. WattleIdo

    WattleIdo midas touch

    Joined:
    18th Jun, 2015
    Posts:
    3,429
    Location:
    Riverina NSW
    Nothing new here. My credit union usually has different rates and it was only in the last couple of years of easy credit that they let their hair down for a short while. That's why it was a good idea to fix with filthy low rates.
     
    Last edited: 31st Jul, 2015
    WattleIdo, 31st Jul, 2015
    #3
  4. Redom

    Redom Mortgage Broker Business Plus Member

    Joined:
    18th Jun, 2015
    Posts:
    4,659
    Location:
    Sydney (Australia Wide)
    Yep, this happened a while ago with others too (e.g. FirstMac).
     
    Redom, 31st Jul, 2015
    #4
  5. bob shovel

    bob shovel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    6,935
    Location:
    Lower Blue Mountains
    I won't be going back to a credit union unless i can"use"them for my situation. They provide good honest service and aren't *******s like the big 4 but aren't really built for ip world. I found i knew more than my loans manager... And i don't know mucho_O
     
    bob shovel, 31st Jul, 2015
    #5