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NAB, Westpac, St George Investment loans

Discussion in 'Property Finance' started by DanW, 25th Jul, 2015.

  1. DanW

    DanW Well-Known Member

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    Anybody heard anything yet?

    Anyone want to take a guess at what increase they'll do on investor loans? 0.27 as well?

    Currently my St George variable is well below their fixed rates and I don't want to be scared into fixing to save only a couple of thousand per year when I lose the flexibility of variable.

    NAB though has some fixed rates that are a bit better.

    I suppose we will hear on Monday that they are all doing the same thing..

    Then we wait and see what happens at the next RBA board meeting - will be interesting to read the minutes this time.
     
  2. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    My bet is that they will follow.
     
  3. jins13

    jins13 Well-Known Member

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    Not going to be a good Monday if all the banks follow the others. Still I think overall, the rates are still low.
     
  4. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    Very short odds on that one terry

    Ta

    Rolf
     
  5. TaylorChang

    TaylorChang Well-Known Member

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    The increase of 0.27% is followed by an APRA announcement on Monday.

    This announcement is mainly focusing/affecting on these banks using Internal Rating Based (IRB) risk weight models.
    IRB risk weight model approach are using by all big four banks and Macquarie bank.

    Hence, it is likely that NAB, St George, Westpac will follow to increase the investment loan.
     
    S.T likes this.
  6. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    The others will follow - wouldn't be surprised if all the announcements are made within the next few days.

    Cheers

    Jamie
     
  7. DanW

    DanW Well-Known Member

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    Haven't seen any announcement from these 3 yet.. Maybe later in the week