My loan interest rate has gone up !

just noticed my loan on my IP's have gone up to 5.10% with Commbank

Can i change loan places without a fee ?

Im sure if i shopped around i could get it cheaper ?

What do you think ?

 

They are all going up.....but depends on LVR....IO or P&I etc and what you need.

 

I just want to pay around 4 per cent

 

I'd rather pay 3%, but that doesn't mean I am going to get it.

Investment loan? interest Only?

 

So do I

If you find a way with high LVR and IO and all the bells and whistles, post it here.

Wait for a few months, more increases, then a few more months after that......you guessed it, in our pockets again ! Rascals.....(even Scott Morrison has said do not do it, maybe he will tax them more, what do you think?)

 

You are unlikely to get 4% for investments, generally speaking. That said, it's highly likely you can do better, especially if your LVR is less than 80%. Even if it's not, you could fix the rate with CBA for quite a bit less than that.

 

I might try and get a loan from Japan, they are in negative, do you know if they will pay me or the rate they get for IO investment ?

 

The rates charge are still positive I believe

 

NAB Tailored Home Loan - Choice Package - Principal and Interest for Investment Loan 3.88% fixed for 2 year..

You will pay P&I, fixed rate for 2 years... blah blah blah, but it is difference of 1.3% ( 5.10%-3.88%)

 

Yeah, imagine that, a loan you get paid for I do wonder if you can get money from some of these countries though, I wonder if HSBC would help if you were a HK citizen now in AU



250k 25 year loan

IO 5.3 1104
PI 4.0 1320

On 30 year even better

PI 4.0 1194

 

If you are resident and working in Japan Aussie banks will lend for property here at Japanese rates.

 

I've recently been calling the different banks and it seems like majority of interest only loans and around 80 LVR seems to be around the high 4s at the moment. Tried to negotiate one of my NAB variable loans from 4.58% to 4.3% but was advised that this was even better than what they are currently offering and even a fixed loan was around 4.44% for 3 years.

 

@jins13 if you're on 4.58% interest only investment loan, you are on a good deal with any of the Big 4. The NAB isn't always the cheapest of the Big 4, but I've found that they're consistently the most competitive and most willing to renegotiate rates with existing customers.

There are second tier lenders that are cheaper right now, but they're also more difficult to qualify for.

 

Thank you and no amount of threatening changed the % at all ha ha. I was fortunate that I have another loan with them fixed at 3.89% for three years/