Variable interest rates - what are you paying?

Discussion in 'Loans & Mortgage Brokers' started by bunkai, 3rd Jun, 2019.

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  1. Kuta Kintay

    Kuta Kintay Member

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    Perth
    2.84% P&I for PPOR with Ubank, but will be on 3.09% until 29 October.
     
    Cia likes this.
  2. thydzik

    thydzik Well-Known Member

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    18th Jun, 2015
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    Perth
    couple of 2nd tier lender rates;
    Freedom Lend Home Loans: Variable from 2.79%
    UBank: Home Loans from 2.84%
    Homestar Finance: Own. Occ. Loan - 2.74% (P&I) | Investor - 3.14% (P&I)
    Athena Home Loans: Variable Refinance Owner Occ P&I 2.84%
    Reduce Home Loans: Owner Occupied Home Loan 2.77%
     
    Cia likes this.
  3. Codie

    Codie Well-Known Member

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    Brisbane
    Just advised rams are dropping by 0.15% so that puts 5 loans on between 3.24% and 3.49% all variable P&I, 4 INV and 1 PPR
     
  4. andy ngo

    andy ngo Well-Known Member

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    sydney
    is UBank good?
     
    Cia likes this.
  5. Kuta Kintay

    Kuta Kintay Member

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    Perth
    Overall, I found Ubank pretty good.


    Pre-approval there was a bit of work involved (took around 1-2 weeks). Scanning, uploading documents, payslips, living expenses, physically presenting at the Post Office for an ID check. Each a step by step process via their online portal.


    Final approval & Loan Contract took around 48-72 hours, after I submitted the Offer & Acceptance.


    Pro’s - they work Saturday & Sunday, respond to email’s around 1-3hr timeframe, portal easy to understand

    Con’s - require min 20% deposit, don’t assist with FHOG grants etc., most correspondance over email
     
    Anne11 likes this.
  6. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    U bank is wholesale funded by NAB, but their redraw conditions are the same as all non banks.

    As long as its for a fully drawn loan not an issue

    ta
    rolf
     
    Lindsay_W likes this.
  7. thydzik

    thydzik Well-Known Member

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    Perth
    saw these investment variable rates posted on another forum;

    Reduce Homeloan 2.99% (application fees)
    Reduce Homeloan 3.09% (no application fees)
    Freedom Lend 3.09%
    Homestar Finance 3.14%
    Athena 3.24% (no offset)
    Ubank 3.49% (no offset)
     
  8. robotpants

    robotpants Member

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    Oz
    Anyone had experience with Freedom lend? Or other 2nd tiers? (only interested in lender's with an offset account)
     
  9. Lindsay_W

    Lindsay_W Well-Known Member

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    Trick is to actually submit the discharge form, and yes there are plenty of better options out there (I listed the lenders in my previous post) however I would steer clear of any online only lenders.
    If you want to keep building a portfolio then lender selection is important, best speaking to a good broker to see what your actual options are and get some credit advice for your future portfolio building strategy.
     
    kimba88 likes this.
  10. shorty

    shorty Well-Known Member

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    straya
    Budged a little to 3.92%
     
  11. Cia

    Cia Well-Known Member

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    18th Jul, 2015
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    Location:
    Adelaide
    It's a no frills loan, all online. I've found them to be a bit frustrating at times, but honestly when it works and let it just run - it's quite the dream to have my interest rate so low on a PPOR especially. If rates go down more it will be good as they have passed on all reductions.
     
  12. Primary341

    Primary341 Well-Known Member

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    18th Jan, 2019
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    Location:
    Melbourne
    Who is offering the best rate on an IO + offset (PPOR) with 40%+ deposit? Was with CBA (sold an IP) and had the wealth package.
     
  13. thydzik

    thydzik Well-Known Member

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    Perth
    heard Citibank doing 2.99% variable OO with offset.
     
    Primary341 likes this.
  14. Pash81

    Pash81 Well-Known Member

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    22nd Feb, 2016
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    Location:
    Brisbane
    Just got approval from St.George for OO loan 3.24% variable and Investment loan 3.65% variable, both 90% LVR. Total lending approx $1.2mil
     
  15. Sydboyz

    Sydboyz Active Member

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    Sydney
    I am also keen to hear if anyone has any experience with Freedom Lend.
    Their interest rate is low and comes with offset.
     
  16. Pash81

    Pash81 Well-Known Member

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    22nd Feb, 2016
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    Location:
    Brisbane
    Interest rates decreased to 3.09 and 3.50 now.
     
  17. iwantahouse

    iwantahouse Well-Known Member

    Joined:
    19th May, 2019
    Posts:
    142
    Location:
    Adelaide
    I just signed a loan with Citibank,

    3.36% Variable with Offset and 15% deposit no LMI. I'm going to save hard to complete at least 20% to negotiate a better rate in the future.
     
    Leslie likes this.
  18. MRO

    MRO Well-Known Member

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    18th Jun, 2015
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    Location:
    Perth
    I just called St George to push them to lower my variable P&I loan based on your figures (and a few others in this post). Thanks! They are getting the retention team to call me back. Interestingly they said that new loans are being offered better terms than existing customers. There are a few ways to fix that!
     
    Pash81 likes this.
  19. bismarck

    bismarck Member

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    1st Jun, 2016
    Posts:
    19
    Location:
    Sydney
    Existing ING OO P&I loan <80% LVR. $670k owing.

    Quick phone call to reduce from 3.43 to 3.23
     
  20. # 1

    # 1 Well-Known Member

    Joined:
    6th May, 2019
    Posts:
    267
    Location:
    International
    I'm paying 3.79% to NAB on 2 variable P&I loans:

    1. $300k (60% LVR)
    2. $195k (55% LVR)

    Do any brokers think I can do better than that or are those rates ok?
     

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