Fixed rates loans

Discussion in 'Loans & Mortgage Brokers' started by Yson, 8th Mar, 2020.

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  1. Yson

    Yson Well-Known Member

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    May I know if anyone knows why Anz fixed rate investment loans is lower than other big 4 in particular to Cba?
     
  2. Property Twins

    Property Twins Mortgage Brokers, Buyers Agents & Mentors Business Member

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    Just business practice... to be more competitive and attract more business
     
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  3. Never giveup

    Never giveup Well-Known Member

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    Is ANZ good for debt recycling and can have mutiple splits ?
     
  4. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    problematic above 80 - new app each time

    Clunky sub 80

    ta
    rolf
     
  5. Never giveup

    Never giveup Well-Known Member

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    How about have the splits set up in the begining rater than later
     
  6. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    helps to do it that way

    If we are forced to use NAB or ANZ et al for policy or val reasons, then thats out approach

    ta
    rolf
     
  7. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    I have helped a few clients debt recycle with ANZ. Splits were set up from the beginning - max 6

    They are not very good because
    a) expenses cannot be paid from the loan, and this means
    b) borrowed money needs to be diverted to a savings or offset account then onto its destination.

    You will then have to consider the issues in my tax tip 1
     
  8. Never giveup

    Never giveup Well-Known Member

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    Re (b)

    If there is a clear transaction of transferring X amount from loan to savings/offset and then same money goes to trading account for investing then what is the issue? Its just one extra transfer?
     
  9. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    There are 2 transactions when ideally there should be 1. Have a read of my tax tip 1 and then pay for some tax advice
     
  10. Never giveup

    Never giveup Well-Known Member

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    So it's simple:

    1. Transfer directly from loan account to trading account
    Or
    2. Dont have funds in offset/saving account

    I don't get the Loc promotion- use it then fixed it for certain twrm as IO. Above mentioned 2 methods are worth it!!
     
  11. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    From a loan point of view it might be simple, but the tax side is less so
     
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  12. Redom

    Redom Mortgage Broker Business Member

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    Likely a matter of time the rest of market moves there. ANZ aren't really ever winners on 'price' (neither are CBA mind you), and they usually end up in the same/similar positions. At the moment there is a bit of volatility in rate pricing as the market comes down. ANZ moved a little earlier than others (prior to the RBA change this month).
     
  13. Yson

    Yson Well-Known Member

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    Because I have loans with anz n cba and I don’t want to switch, and anz is 2.88 2 yr pi fixed n cba is 3.14 or 3.34 ( can’t remember )
     
  14. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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  15. Shahin_Afarin

    Shahin_Afarin Residential and Commercial Broker Business Member

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    Lender pricing appetite go through cycles - ANZ was very sharp several months ago and more recently it has been Westpac and St George. ANZ have started coming back this week with much better pricing.

    ANZ's debt recycling isn't too bad but its not great either. They also have some funny niches with their products. That said thought they have some excellent policy niches and their servicing calculator has improved big time.
     
  16. Never giveup

    Never giveup Well-Known Member

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    Agreed, however attentian to details and better management of accounts should make the tax side simple too
     
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  17. Never giveup

    Never giveup Well-Known Member

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    What do you mean by this @Shahin_Afarin