Lowest invt rate P & I in a Company name

Hi All

Looking at refinancing a loan with ANZ in a Company name for investment purposes.

Currently paying 3.88% and even with the promise of our other business they are not prepared to cut the rate further.

All loans less than 80% lvr on a full doc basis.

Anyone keen to offer an opinion or their services.

 

There are many cheaper possibilities

 

Yes there are better/cheaper options out there but without knowing the full financial details, needs etc. no one can accurately tell you if you qualify for those better rates or not. Recommend speaking to a good broker, most on here are great, I'm sure they'll be along to offer their services

 

Full documented loan < 80% lvr

Self employed - 20 years full financials.

No personal debt, 20K C/c limit and no dependants.

Good superannuation.

Just keen to get an indication of what sort of rate is available and can then contact one of the brokers on the forum.

 

not enough info - plus it would be a breach of the NCCP Act to list a rate on here.

 

Just had one of the brokers contact me thru a PM which i appreciate (sorry he is obviously breaching the NCCP legisliation) with a great rate.

Thankfully he didn't think it was too little information.

 

The most important bit of info is missing - size.

The company could probably get low 3s

 

380K but over $5M after that.

 

The way that the pricing works is that it is usually based on the initial loan and not benefit given for potential loans at that point, so a new pricing will be needed subsequently.

If the company has that much debt it should really consider splitting the loans up with several lenders, assuming, there are different securties.

See
Legal Tip 30: The risks of having large number/volume of loans with 1 lender https://propertychat.com.au/community/threads/legal-tip-30-the-risks-of-having-large-number-volume-of-loans-with-1-lender.1553/

Legal Tip 242: Why is it safer to get all loans with a different lenders? Legal Tip 242: Why is it safer to get all loans with a different lenders?

 

Each purchase is in a separate shelf company set up purely for the purposes of buying the individual property.

Not concerned with having more than 1 loan with the same lender.

 

The issue is without knowing your actual financial situation they can't tell if you qualify for that lender/product/rate so I could say "you can get a rate of 3.00%" but then you actually give me all the data and turns out you don't qualify for it, borrowing capacity not there or doesn't fit that lender policy. You want to know what rates are on offer then just google them!