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Discount on Owners occupier loan reduced ??

Discussion in 'Property Finance' started by Mick C, 18th Aug, 2015.

  1. Mick C

    Mick C Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    206
    Location:
    Sydney
    http://www.mortgagebusiness.com.au/breaking-news/8792-owner-occupier-rate-hikes-on-the-cards

    Our office has already felt this hit first hand....For the last 10-12 weeks We were able to negotiate with CBA 4.10% ( 1.35%) discount on loans over $900,000 for PPOR ...today's deal comes back with max 4.15%. unless it's a higher loan amount ...Same goes for ANZ, NAB and to a lesser degree Westpac etc...

    For the smaller deals, it was easy to obtain 1.25% ( 4.20%) with CBA for loans around 400-500k PPOR...now it's more 4.24% unless loan is well over the 500k mark etc..


    However we are seeing the smaller banks like Bankwest and st George starting to offer some very attractive PPOR rates....

    So i guess it must be a Big 4 thing...Brokers care to comment???

    I suggest if your looking a cheaper PPOR deal or more importantly cash out/equity...lock it in fast before.

    1. Discount are reduced
    2. Interest only is harder to obtain
    3. Limited cash out