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NAB nabs additional 17bps

Discussion in 'Property Finance' started by Waterboy, 23rd Oct, 2015.

  1. Waterboy

    Waterboy Well-Known Member

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    Welcome to the party!
     
  2. jins13

    jins13 Well-Known Member

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    Excellent. What a way to start the weekend. Do you know when this comes into effect?
     
  3. Waterboy

    Waterboy Well-Known Member

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    12 Nov 2015
     
  4. Waterboy

    Waterboy Well-Known Member

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  5. Bentley

    Bentley Well-Known Member

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    Now only ANZ is left to join the party!
     
  6. DanW

    DanW Well-Known Member

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    And then the non banks..
     
  7. Waterboy

    Waterboy Well-Known Member

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    Will the smaller lenders follow? They're hardly affected by the new capital requirements because many of them already meet the requirements! That's exactly why they wanted the big 4 to raise capital - to level the playing field.
     
  8. Peter_Tersteeg

    Peter_Tersteeg Finance broker and strategist Business Member

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    They followed the other rises despite not having as stronger requirement to do so, so why not?
     
  9. Jess Peletier

    Jess Peletier Mortgage Broker - Australia Wide Business Member

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    Macq and St George have joined the party now too.
     
  10. RM1827

    RM1827 Well-Known Member

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    Do you have a link to share? I cant find this new about Macquarie and St George
     
  11. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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  12. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    St George
     
  13. RM1827

    RM1827 Well-Known Member

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    Thanks Terry
     
  14. KayTea

    KayTea Well-Known Member

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    So, Suncorp won't be far behind, either…… But, no collusion, right? Talk about a bunch of sheep.

    And, will we all be anxiously waiting for the increased interest rates on any savings accounts and term deposits, to accompany the increased mortgage interest rates? Didn't think so! :mad:
     
  15. euro73

    euro73 Well-Known Member Business Member

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    Well, with the last of the major banks having announced an increase to their rates, investors have the ability to show their displeasure by seeking out a loan from one of the many excellent second tier lenders or non bank lenders.
     
    Last edited by a moderator: 27th Oct, 2015
  16. JonoD

    JonoD Active Member

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    Anyone have any recent luck with ibcreased margins from NAB? Assessing if its worth soeaking with their retention team.

    My INV loans are currently at 4.32% (1.14% discount margin)
    My OO (IO) is at 4.16% (1.3% discount margin)

    Total lending around $2m via their broker products ( not planning to refi, just seeing if i should push a bit more on rates)

    Note - above rates are pre the 17 bps being added
     
  17. Peter_Tersteeg

    Peter_Tersteeg Finance broker and strategist Business Member

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    What you've got is consistent with what they're currently negotiating for investment lending with large amounts. Given that your owner occupied loan is interest only, 4.16% is an excellent result. NAB are specifically targeting higher rates for IO loans regardless of the purpose.

    Compared to most lenders, what you've got is a pretty good deal.
     
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  18. chylld

    chylld Well-Known Member

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    LOC package @ 4.49% but website advertises 4.39%... wonder if I'll be bumped to .59 or .69
     
  19. ps0104

    ps0104 Member

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    Which is precisely what I've just done. NAB lost my business as a result of this rise.
     
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  20. Azazel

    Azazel Well-Known Member

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    Only started with NAB for one not long ago, will be a while before changing to another lender.