Current interest rates

Hi guys,

just wanted to gauge what competitive rates look like currently and what people are paying.

I have my PPOR with HSBC part fixed and part variable at 6.07% (this isnt great, but is fully offset so not really concerned).


I have 2 Residential investment properties in my own name with ANZ, paying 5.89% variable P+I.

I also have a Residential IP held in a trust with ANZ, paying 6.19% variable and P+I.

I have held conversations with ANZ around commercial lending and they have quoted 6.35% IO at 80% lend, 30 year loan with an offset facility.


How do these compare to what other investors are getting out on the market currently?

 

I would think your investment P&I rates are good rates when compared to Westpac and CBA

 

5.89% variable with offset for PPOR is a good rate

 

I have 6.29% with anz and I have pushed them hard to lower it more but they said no.

 

Last week I fixed my IP at 5.89% with Westpac for 12 months

 

Assuming your Resi inv is below 80%, they are good rates.

We actually been seeing major lenders cutting their discounts on the back end.

 

just moved to westpac 5.64% ppor p&i, low lvr and managed to get a nice cashback prior to the tap turning off, so far so good, let's see how service is...

 

I'm wondering whether to take the bait of 100,000 Qantas points per year per property and switch to Qantas Money...

 

You can get that by changing credit cards once or twice a year. I wouldn’t be choosing a loan based on bonus points

 

Im quite curious about the commercial rate you have quoted.

Does anyone have any experience with other lenders here around rates?

I know non banks like pepper and Liberty are doing rates around 7.5% at 80% lends for 30 years.

However a friend of mine said he was still getting below 6% with other lenders for an industrial warehouse.

 

Wow thats pretty sharp!! Is that IO or P+I?

 

Without knowing the specifics of 'your friend's commercial loan offer, I'm highly sceptical. Commercial lending rates have been >6% for some time now even for sub 60% LVR's.
ANZ Commercial are notorious for under quoting their IO commercial rates too.

 

P+I. Obviously with no Offset attached.

 

Oh really - I will follow up with him to check. He has quite a large porfolio of commercial properties, so may be getting some scale benefit there from the bank. Pretty sure he said he was with ANZ primarily and uses liberty as a non bank occasionally but I will ask.

 

Yep you are correct, it is an up to 1 mil 80% lend. Oh im 99% sure I was quoted with an offset facility but could be wrong.


As for the other loans - all 3 around 250k remaining and around 50% LVR.

My broker has mentioned bendigo bank are offering some attractive investment products - he has said I would be looking around the 5.75% mark there for similar products to what I have currently

 

Is this rate post the June RBA rate rise which ANZ only put up in July?Thanks

 

Anz sent me a notice saying my commercial rate was going up to 7.35%. This is nuts. My lvr is probably 30%

 

Really?? Thats an interest rate margin of 3.25%. Im not a broker, but I would be looking to refinance elsewhere with a 30% LVR.

Even Liberty finances advertised rate is only slightly higher than that, and they are a non bank??