Help me get the best rate!

Hi all,

Simple question. Bought an apartment two years ago and took out a loan with NAB as they had a good package at the time. The fixed period has ended and I'm looking to refinance because I believe I can probably get a better rate.

Original purchase price: 375k
Amount outstanding on loan: 220k (with 50k in an offset account)

I want to keep the cash flow of 50k in my offset available to use in case I decide to do something crazy with my life!

1) So what are my options? Basically I want to get the lowest rates!

Also, I may be moving overseas later this year, so I want to know

2) If I sign up for an owner occupier loan and then move out, if I don't tell the bank, what are the consequences?

Thank you

 

So start here

From there you can get an understanding of indicative rates (note that at the time of writing the lowest rate is 3.48%pa compared to NAB's standard variable of 3.79%pa)

Remember none of this takes into account your requirements.

With regards to your second point... depends on your mortgage contract

Regards
ComPropAgent

 

Banks give pricing on economies of scale. $220k. If rate is the only focus, your best bet is really what Rolf said.

You'd be surprised that in some instances investment lending can have better rates.