NAB Fixed Rates

Discussion in 'Loans & Mortgage Brokers' started by euro73, 9th May, 2017.

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  1. euro73

    euro73 Well-Known Member Business Member

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    Modest increases for I/O. Good rates available for 1-3 years PPOR P&I

    Screen Shot 2017-05-09 at 8.31.04 am.png
     
    S1mon, Air_Bender, paulF and 3 others like this.
  2. RetireRich101

    RetireRich101 Well-Known Member

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  3. Hodge

    Hodge Well-Known Member

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    I've got 2.5 years left on my IO NAB loan. With rates on the up the 3 year fixed P&I looks very attractive.
     
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  4. Redom

    Redom Mortgage Broker Business Plus Member

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    Matching Westpac - big incentives for P&I INV loans at present. You can have 1%+ lower P&I fixed rates than INV I/O variable rates in some circumstances.
     
  5. Gockie

    Gockie Life is good ☺️ Premium Member

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  6. Barny

    Barny Well-Known Member

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    2-3 year owner occupier rates seem great. Is there perhaps a drop in rate coming for owner occupier on the horizon?
     
  7. Dean Collins

    Dean Collins Well-Known Member

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    Yep but cant you find better 5 year fixed P+I investor rates than 4.79%?

    Seems kind of high......even with the recent APRA changes.

    Eg my last IP in Feb 2017 was 3.99%
     
  8. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    Comp loans are useful to compare a carrot to an orange because they are the same colour,

    The theory of comp rates was to make things simpler for the consumer................ I mean the gov is supposed to tell us the truth

    ta
    rolf
     
  9. Gockie

    Gockie Life is good ☺️ Premium Member

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    It's just that the rate in RR's post for 2 years seemed low, but the comparison rate was right in with the other rates. I wonder if there was a typo somewhere.
     
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  10. RetireRich101

    RetireRich101 Well-Known Member

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    I think the 3.88% fixed for 2 years for P&I Investment Loan is correct.

    I was wondering in the next 1-3 years we will see occasionally banks open a small window for these to gain market share?
     
  11. tobe

    tobe Well-Known Member

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    Comp rates account for all the fees and the rate projection over 25 years and a nominal loan amount of $150,000. Fixed rates revert to svr so the comp rate is 22 years of svr mostly.

    Or mostly as @Rolf Latham says, hokum.
     
  12. Possumcreek

    Possumcreek Well-Known Member

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    Perhaps some hidden fees?
     
  13. Ethan Timor

    Ethan Timor Well-Known Member

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    Well said, guys.

    My 2c:

    If we're comparing loans based on their entire duration, comparison rate seems to me like the best way to compare them. Unless someone has a better idea how to do it?

    To compare loans for a shorter time (say 2-3 years) needs to be done manual (and it's a risky strategy these days anyway. Who knows if you'll be able to refinance after 2-3 years) and it does make the 'comparison rate' useless. The process however is easy when comparing loan 1 to loan 2, but to compare multiple loans at a glance and decide who's cheaper for short term? Ouch.