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refinancing

Discussion in 'Property Finance' started by MEKHLA, 30th Sep, 2015.

  1. MEKHLA

    MEKHLA New Member

    Joined:
    30th Sep, 2015
    Posts:
    1
    Location:
    SYDNEY
    what interest rates are you paying for IP loans The Best I could get are 4.09 (70% LVR) owner occupied and 4.39 for 2x IP (75% LVR). No ongoing fees or property evaluation fees. Some credit unions are a bit cheaper however the have ongoing fees and evaluation fees.
    Any thoughts on better offers out there? or comparison site
    i looked into MOZO, rate city
     
  2. Shahin_Afarin

    Shahin_Afarin Residential and Commercial Broker Business Member

    Joined:
    18th Jun, 2015
    Posts:
    641
    Location:
    Sydney
    I think there is a lot more to it than just rate but if we are talking about the rate then St George are doing 4.34% @ 80% LVR for their basic no frills product.

    What you will find though is that its a bit like a race - you may find that St George has the best rate today but in 12 months undoubtedly there will be lenders offering better rates which leads us back to rate not being the be all and end all.
     
    Jess Peletier likes this.
  3. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

    Joined:
    18th Jun, 2015
    Posts:
    2,143
    Location:
    Canberra and Sydney
    Totally agree - especially in the current environment.

    We've got lenders dramatically tightening up servicing calculators and restricting equity releases. The lowest rate (for those wanting to own multiple properties) shouldn't be the top priority. Especially not now.

    Cheers

    Jamie