Hi, wondering if anyone has recently had luck negotiating fixed rates with Rams? Or they are pretty rigid. I’m keen on IO but board rates between P&I and IO have widened significantly. E.g. 2 yr money P&I (4.09%) vs IO (4.59%) Interesting to note mothership Westpac will extend on 4.15% for 2 yrs. Thanks guys.
Due to strong scrutiny by APRA and Royal Commission and also to hold strong portfolio books, banks are really pushing towards "P & I" loans by offering better rates... If sticking to big four, CBA's fixed rate is not bad. I just had a client with multiple investment properties and one of them I just fixed with CBA for 3 years (Interest only) @ 4.19% with wealth package.. It's less about interest rate these days and more about individual circumstances/goals ... Cheers,
Need you Stay at RAMS per se ? Your Rams broker, or many others can likely get you a 4.09 fixed for 2 years IO at CBA, while CBA's PI best for same is 3.99, so only a 10 pts spread......... quite ok for most people that still have a non deductible debt and are on a middling marginal tax rate - as always, seek specific tax advice. ta rolf
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