Lowest SVR or Fixed for Investment Interest only loans

Discussion in 'Loans & Mortgage Brokers' started by J&E, 26th Mar, 2017.

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  1. J&E

    J&E Active Member

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    15th Dec, 2016
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    Sydney
    Hi all,

    I am currently with CBA but am looking to finally move out of the BIG 4 and see what is out there.

    I have just over 4 million dollars in outstanding loans. LVR <80%.

    Can anyone recommend a lender who has the lowest SVR and/or fixed for investment interest only loans?
     
    J&E, 26th Mar, 2017
    #1
  2. Corey Batt

    Corey Batt Well-Known Member

    Joined:
    14th Jun, 2015
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    Location:
    Adelaide, SA
    Can someone recommend me the best car.

    No I won't tell you my exact needs, budget, financial situation, whether I'll be paying cash or financing, whether it's within a business or personal name, whether I want to be able to tow a boat on weekends or for it to be the most fuel efficient small car.

    Jokes aside - speak with a broker who is used to working with significant investment portfolios - they will be able to review your situation and advice on the best options available.

    Anything else will just be speculation on products which might not be anywhere near suitable, you may not qualify for or they might be great today and terrible tomorrow.
     
    Corey Batt, 26th Mar, 2017
    #2
  3. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    this week or when the loan settles?

    Its a tough one with so much flux

    4 mill as sole lender exposure is prettybig

    ta
    rolf
     
    Rolf Latham, 26th Mar, 2017
    #3
  4. Shahin_Afarin

    Shahin_Afarin Residential and Commercial Broker Business Member

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    Sydney
    Depends on so many things mainly policy wise. You don't want to snooker yourself with one lender and $4mil in lending.

    Resimac is doing 3.72% for IO owner occ variable and 4.12% for IO investment variable. BoQ and IMB are around the 4.09% but I haven't used IMB in a long time so couldn't comment on their overall policy.

    ING's fixed rate are very sharp but its hard using them due to their serviceability model. I have been using St George's 4.14% (advertised is 4.19% but you need get your broker to submit a pricing request and as they are shaving 0.05% on 2 and 3 year fixed rates) on the 2 year fixed rates a lot. Their rates are a little more than say an ING but their overall policy is much better.

    I think however they will increase it this week.

    Having said all this everything is going to come down to serviceability and fitting within the lender's policy.

    The rates quoted are just to give you an idea of what is happening in the market..... (as of last week).
     
    Shahin_Afarin, 26th Mar, 2017
    #4
  5. Jess Peletier

    Jess Peletier Mortgage Broker & Finance Strategy, Aus Wide! Business Member

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    As an aside, with $4m in existing lending, unless your income is pretty huge I'd be surprised if the guys with the lowest rates will be able to help you.

    *Edit - sorry Shahin, meant to reply to OP, not you specifically :)
     
    Jess Peletier, 26th Mar, 2017
    #5
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