Fixed interest in advance rates.

Discussion in 'Loans & Mortgage Brokers' started by tobe, 11th Mar, 2020.

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  1. tobe

    tobe Well-Known Member

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    So I just got a 2 year fixed interest in advance, interest only at 2.78%. Thought that was a bit mad as oo P&i rate is currently 2.8%. Or will be after the latest rate reduction.
     
  2. Blueskies

    Blueskies Well-Known Member

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    Hey @tobe, that is crazy, never thought I would see the day with mortgages routinely starting with a 2 but here we are.

    I am meeting with Westpac on Monday for a few things but one will be to challenge my rates. After the latest cut I am ranging from 3.1 to 3.5. Can I ask what are good rates from the big4 at the moment for Variable P&I, 80LVR, both OO and INV? Many thanks
     
  3. Lindsay_W

    Lindsay_W Well-Known Member

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    2.79% variable (or 2.49% fixed for 2 or 3 years) OO
    2.94% P&I variable for inv
    be surprised if Westpac can get close to any of those
     
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  4. tobe

    tobe Well-Known Member

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    3.1 is close to 2.79% once the rate reduction kicks in.
    I hate this bit, lenders have announced changes, but they don’t come into effect for a couple of weeks. Broker software, loan docs, formal approvals pricing requests all arent updated till they do.
     
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  5. Paul@PFI

    [email protected] Tax Accounting + SMSF Business Plus Member

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    Any lender with a uber low rate is likely to be one that will find opportunity to lift it. It's like bait. If the economy swings don't expect refinance to be like it is now.
     
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  6. Lindsay_W

    Lindsay_W Well-Known Member

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    Thought the cut had already been factored in to Blue Skies rates
     
  7. Lindsay_W

    Lindsay_W Well-Known Member

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    I get what you're saying, the rates I quoted are not from one of those web based lenders though, it's a major lender, it's a race to the bottom!
    Rate is not everything though
     
  8. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    flux

    BEST broker juice there is :)


    ta
    rolf
     
  9. Never giveup

    Never giveup Well-Known Member

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    May I ask the ledder plz? St George?
     
  10. tobe

    tobe Well-Known Member

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    Cba.
     
  11. Never giveup

    Never giveup Well-Known Member

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    Wow!