Variable interest rates - what are you paying?

P&I Variable you're paying too much @ that LVR. Should be at the lower end of 3s max 3.4%

 

You can do better, but if you're an ex-pat, that might not help. It doesn't take much with the NAB to find out though.

 

What are NAB offering these days for OO variable P&I? Also is their servicing better compared to Westpac/CBA for a couple, one other investment property and no other debt or CC?

 

I've got 3.21% with nab 1.2m OO P&I

 

Thanks Thydzik. Would also be great if someone can comment on their serviceability compared to CBA & Westpac.

 

Not a particularly relevant question because the answer will depend on your circumstances. Another person can't answer this for you.

As a general observation I'd say that NAB has a slightly more generous calculator that CBA or Westpac, but that doesn't mean I'd recommend NAB to everyone. There's also lenders that are more generous again.

For a lot or borrowers there really isn't much difference in serviceability. For many the difference is not enough to be a deciding factor. I can also tell you there's plenty of lenders with cheaper rates than any of the Big 4.

See a broker to try figure out which lender is going to be the most appropriate for your needs.

 

As always, thanks Peter.

 

I found nab was more generous on the valuation.
westpac servicing was more favourable, and they you give cash back for each property you move across, but there rates are not as competitive.
CBA, never been competitive rate wise for me.

 

The NAB, CBA and Westpac all do their valuations through Core Logic. There's a lot going on behind the scenes, but there's no way to reliability predict that one lender will be more generous than another.

 

Thanks for letting me know but what's the best way to get a better rate from them. Should i ask to speak to someone from the NAB retention team and say that CBA can give me 3.4% and ask if they can match it?

 

Hi Peter I'm not an expat, I just travel a lot. When you say it doesn't take much to find out, do you mean NAB will respond quickly if I give them a call to see if they can rate match?

 

I mean that it takes me about 3-5 minutes to enter the data into an online system, request new pricing and then get a result. Same for all the major banks.

 

Ok thanks, understood

 

Have a couple of loans coming off fixed in a few days with ME Bank. They're screwing me with 4.2% variable unless I refix.

 

They can do a lot better, even their IO investment loan is 3.74%. If you don't want to fix, suggest they come back with a reasonable offer or there's other lenders that will.

 

OK. The guy on the phone was extremely rude. Never really encountered a personality like that with the other banks. Maybe it was personal.

 

HSBC just offered my family trust 3.5% for variable INV IO (initial 5 year term) ~500k loan.

 

I'm on 3.73% with CBA. Invariable P&I. ~550k loan (I had placed a 20% deposit and chucked the remainder in the offset account). Can I do better?

 

I don't have non deductible debt