TMBank removes OO and IP rates differentiation!

Discussion in 'Loans & Mortgage Brokers' started by spludgey, 29th Jul, 2019.

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  1. spludgey

    spludgey Well-Known Member

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    I'm not 100% sure that they had different rates for the two, but pretty sure.
    But as you can see, now there's no difference.
    Hopefully others will follow suit and we'll get back to the same rates as owner occupiers!

    Home loan rates | TMBank
    Home loan rates | TMBank
     
    spludgey, 29th Jul, 2019
    #1
  2. Rajiv Srivastava

    Rajiv Srivastava Active Member

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    This is only for teachers or people in education industry. Is that correct?
     
    Rajiv Srivastava, 29th Jul, 2019
    #2
  3. spludgey

    spludgey Well-Known Member

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    Yes, or have a partner, parent, child, etc, that works in education, so a fairly large proportion of the population qualifies.
     
    spludgey, 29th Jul, 2019
    #3
  4. WattleIdo

    WattleIdo midas touch

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    yes, about time! But those rates apply to brand new customers only. Still waiting for existing customers to be treated to the same. Variable IO still too high.
     
    WattleIdo, 29th Jul, 2019
    #4
  5. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    The gap with most lenders have been closing for a while

    Previous argument has been that the investors can pay some more to support the battler home mortgage, which makes sense to some extent

    20 years ago the spread was 1 % or so

    Competition reduced it to 0

    APRA intervention on investor growth meant that lenders could price thay way and get away with it

    That pressure is now gone ............i think

    ta

    rolf
     
    Rolf Latham, 11th Aug, 2019
    #5
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