What interest rate are you paying?

Discussion in 'Property Finance' started by Roosterman, 26th Jun, 2015.

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  1. Roosterman

    Roosterman Well-Known Member

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    We had an old thread on Somersoft that I found incredibly useful - an indication of what interest rate everyone was currently paying, discounts received etc.

    I have $1.3m with ANZ at just under 80% LVR (2 x IP, 1 x PPOR) and I have a discount of 1.25%, so my rate is 4.13%.

    Due to the latest APRA changes it may not be so easy to obtain additional discounts, but I would be interested to see how 4.13% compares to what other investors are paying.....
     
    Last edited: 26th Jun, 2015
    Roosterman, 26th Jun, 2015
    #1
  2. albanga

    albanga Well-Known Member

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    Only 1 loan at the moment for me.
    ANZ, PPOR, 500k, 80%LVR.
    Rate - 4.58
     
    albanga, 26th Jun, 2015
    #2
  3. sumterrence

    sumterrence Well-Known Member

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    5 loans with Westpac total around $1.3mil, 4.18%
     
    sumterrence, 26th Jun, 2015
    #3
  4. Peter_Tersteeg

    Peter_Tersteeg Finance broker and strategist Business Member

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    Since the APRA changes I think you'll find it difficult to continue to get that kind of discounting. Most lenders are simply saying no to pricing requests from investors and not engaging in any sort of conversation.

    I did manage to get ANZ to budget a little on this policy recently, the client already had negotiated rates and we requested for them to match what he already had. I received 3 "no's" before I managed to convince someone to say "yes". The sad thing is we were only asking for an extra 0.1% off the published rate for the scenario.
     
    Peter_Tersteeg, 26th Jun, 2015
    #4
  5. Roosterman

    Roosterman Well-Known Member

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    Agreed, Pete. I meant to say "not so easy"
     
    Roosterman, 26th Jun, 2015
    #5
  6. tobe

    tobe Well-Known Member Premium Member

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    what was useful about the old thread? To me it seemed to confuse matters more than anything. People comparing online lender rates, fixed rates, rate discounts they were given years prior, etc.
     
    tobe, 26th Jun, 2015
    #6
  7. Roosterman

    Roosterman Well-Known Member

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    Hi Tobe. I found it interesting to see what everyone else was paying. But I also saw someone post with almost the exact same details as me (same bank, loan size, same LVR etc) but with 20 points more discount.

    I used that info to go back to ANZ and negotiate a better discount. I do agree the the landscape has now changed slightly...
     
    Roosterman, 26th Jun, 2015
    #7
  8. The Silver Bear

    The Silver Bear Well-Known Member

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    NAB $1.4m, 50%LVR on PPOR - 4.17% negotiated November 2014.
     
    The Silver Bear, 26th Jun, 2015
    #8
  9. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    You've done well - 1.25% off the SVR with ANZ is quite good. Especially when you consider they generally have a lower base SVR than other lenders. I've arranged the same for clients - all above $1m in aggregate borrowings.

    Personally - before the APRA stuff hit, I arranged 1.3% off the SVR with CBA on some of my loans. It was $1.3m and sub 80%

    Cheers

    Jamie
     
    Jamie Moore, 26th Jun, 2015
    #9
  10. citystar

    citystar Well-Known Member

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    Over $1 million in loans, ANZ Breakfree package, all loan Interest Only and non-crossed at 4.33%, and I'm not happy with that rate so I plan to call up on Monday and ask them to lower it.
     
    citystar, 26th Jun, 2015
    #10
  11. Coota9

    Coota9 Well-Known Member Premium Member

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    Citystar,

    Currently with ANZ Breakfre also 950k at 4.24 % interest only not crossed..
     
    Coota9, 26th Jun, 2015
    #11
  12. Mumbai

    Mumbai Well-Known Member

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    4.18% with ANZ (1 PPOP, 3 IPs)
     
    Mumbai, 26th Jun, 2015
    #12
  13. Perky29

    Perky29 Active Member

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    4.18 with Westpac , 1.3 off. Looks like it compares favourably.
    David
     
    Perky29, 26th Jun, 2015
    #13
  14. kamchatsky

    kamchatsky Well-Known Member

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    4.13% with ANZ. 1.37 million (1 PPOR, 1 IP, 1 loan drawn down as deposit for my next purchase ...)
     
    kamchatsky, 26th Jun, 2015
    #14
  15. The Falcon

    The Falcon Well-Known Member

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    4.45% St George Portfolio loan
    4.10% Deutsche Bank Margin facility
     
    The Falcon, 26th Jun, 2015
    #15
  16. devank

    devank Look, lets just get on with this, ok? Premium Member

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    Best rate so far is from ANZ: 4.13% for total of more than 1 mil loan with 80% LVR.
    All rest of them vary from 4.36% - 4.44%
     
    devank, 26th Jun, 2015
    #16
  17. Jimmy Foxx

    Jimmy Foxx Member

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    4.15% NAB. 2.8 mill at about 65% LVR. Like Roosterman, used info on SS to help negotiate down.
     
    Jimmy Foxx, 26th Jun, 2015
    #17
  18. JPS25

    JPS25 Member

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    4.19% Heritage $1.2mill in total loans 3 taken at 80% the 3 others taken from the equity of our home for deposit and costs. Own home fully repaid.
     
    Last edited: 26th Jun, 2015
    JPS25, 26th Jun, 2015
    #18
  19. Kael

    Kael Well-Known Member

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    My two IP's are with Homeside (now renamed to NAB Broker, I think?) , total for both is around the $600k, have 4.36%, Interest Only.
     
    Kael, 27th Jun, 2015
    #19
  20. TheGreenLeaf

    TheGreenLeaf Well-Known Member

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    3 IO loans with ANZ (total 390k) @4.48% and 2 IO loans with SGB (total 490k) with 207k fixed @4.79% and 283k variable @4.59%.
    As I'm leaving overseas, the choice of bank is reduced when I'm applying for new investment loans.
     
    TheGreenLeaf, 28th Jun, 2015
    #20
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