NAB, Westpac, St George Investment loans

Discussion in 'Loans & Mortgage Brokers' started by DanW, 25th Jul, 2015.

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  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.
     
    DanW, 25th Jul, 2015
    #1
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    My bet is that they will follow.
     
    Terry_w, 25th Jul, 2015
    #2
  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.
     
    jins13, 26th Jul, 2015
    #3
  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
     
    Rolf Latham, 26th Jul, 2015
    #4
  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.
     
    TaylorChang, 26th Jul, 2015
    #5
    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
     
    Jamie Moore, 26th Jul, 2015
    #6
  7. DanW

    DanW Well-Known Member

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    Haven't seen any announcement from these 3 yet.. Maybe later in the week
     
    DanW, 27th Jul, 2015
    #7