What interest rate are you paying?

Discussion in 'Loans & Mortgage Brokers' started by Roosterman, 26th Jun, 2015.

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  1. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    The bigger lenders dont mind the pricing thing Much : )

    APRA asks them to lend less money, so they crank up margins, sounds like a not bad thing for lenders

    ta

    rolf
     
    Rolf Latham, 28th Jun, 2015
    #21
  2. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    Many lenders will fund Expats, the lvr can be a bit so so depending on the currenct.

    ANZ is one of the better ones for high LVrs against bunch of currencies if you have strong income

    ta
    rolf
     
    Rolf Latham, 28th Jun, 2015
    #22
  3. Steven Ryan

    Steven Ryan Well-Known Member

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    4.53-4.65% on total borrowings exceeding $1.3M, all over 80%, spread across 3 lenders.

    Best rate, surprisingly, is with CBA at 4.53% on just shy of $400k. I negotiated a discounted rate for the life of the loan after copping a near-$20k break fee.
     
    Steven Ryan, 29th Jun, 2015
    #23
  4. DanW

    DanW Well-Known Member

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    ANZ shouldn't have to worry as much about staying under 10% investor loan growth since their servicability model stinks if you have large debt.
     
    DanW, 29th Jun, 2015
    #24
  5. turfy77

    turfy77 Member

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    I have $1.17m with Westpac at just under 50% LVR (3 x IP, 1 x PPOR) and I have a discount of 1.33%, so my rate is 4.13%.

    Been told this is very rare for Westpac to go this low from a few staff so feeling lucky.
     
    turfy77, 29th Jun, 2015
    #25
  6. KUS50

    KUS50 Member

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    Wow some low rates here

    CBA $1.1mill locked till Sep 15 @ 4.89% (lost on that one)
    CBA $230k @ 4.49%
    NAB $900k @ 4.39%
     
    KUS50, 29th Jun, 2015
    #26
  7. TheSackedWiggle

    TheSackedWiggle Well-Known Member

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    Hi guys,

    Any idea whats the comparison interest rate on offer for IO loan with offset account from big four?
     
    TheSackedWiggle, 29th Jun, 2015
    #27
  8. Peter_Tersteeg

    Peter_Tersteeg Mortgage Broker Business Member

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    A comparison rate is irrelevant unless you know the specifics of the deal. The one's you see advertised are generally on an owner occupied loan of $200,000 over 25 years P&I. Unless this is your loan, the published comparison rate doesn't apply to what you're doing.

    If you let us know the amount, LVR and specific purpose, it's fairly easy to give you a comparison specific to your scenario.

    Incidentally, the big 4 are not even close to competitive in the investment space right now.
     
    Peter_Tersteeg, 29th Jun, 2015
    #28
  9. TheSackedWiggle

    TheSackedWiggle Well-Known Member

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    thanks peter for the reply

    I am a newbie, I don't own any IP/PPOR yet but looking at getting one IP and one PPOR within next six months.

    I have a quote from loans.com.au for an io/pi with offset for 4.14 rate on a 12% deposit for 90 LVR.
    On 20% deposit(80 lvr no lmi) the same loan is for 4.06%.

    offset account with no ongoing fees and a break fee of 300$
     
    TheSackedWiggle, 29th Jun, 2015
    #29
  10. Befuddled

    Befuddled Well-Known Member

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    CBA 496k I/O @ 4.3% variable
    CBA $500k I/O @ 4.89% fixed (2yrs). This ones a commercial loan.
     
    Befuddled, 29th Jun, 2015
    #30
  11. Tattler

    Tattler Well-Known Member

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    I've spoken with NAB Mortgage Specialist today, and she said that they can only offer me 4.56% for my IP loans. They said to get better deal than what I have with ANZ (4.13% on all loans) I need to have my loan crossed with my PPOR to get best rates. She said they are going to check with the team to see if I can get a better rate if my loans are crossed.

    Obviously no way I will cross my loans but it is interesting that you probably can get better interest by crossing.
     
    Tattler, 29th Jun, 2015
    #31
  12. D.T.

    D.T. Specialist Property Manager Business Member

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    My broker @Corey Batt negotiated 4.29 for me which I'm pretty happy with. The BDM position at Westpac seems to be very high turnover so he had to go thru a few of them so get it sorted. Glad he went the extra mile for me.
     
    D.T., 29th Jun, 2015
    #32
  13. Jess Peletier

    Jess Peletier Mortgage Broker & Finance Strategy, Aus Wide! Business Member

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    If she comes back and says they can, tell her you'll move your PPOR but won't be crossing - it'll be interesting to see if she comprehends. ;) NAB will x-coll at any given opportunity.

    CBA will discount if lending includes PPOR, no crossing required.
     
    Jess Peletier, 29th Jun, 2015
    #33
  14. Tekoz

    Tekoz Well-Known Member

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    Bankwest, 4.42% I/O - Premium Select Home Loan product.
     
    Tekoz, 29th Jun, 2015
    #34
  15. mugen

    mugen Well-Known Member

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    Albury
    4.10% svr with NAB
    LVR: 80%
    2 IP loans (unfortunately crossed)
    Lending: $1mil
     
    mugen, 30th Jun, 2015
    #35
  16. ADLInvestor

    ADLInvestor Well-Known Member

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    CBA for IP1 - $346k, 90% LVR - Locked at 4.99% (Stupid mistake when uninformed!)
    CBA for IP2 - $341k when finished, 90% LVR - Variable at 4.75%

    Once the build of IP2 is completed, do you think there will be any room for negotiation? Also have the wealth package that they offer, but unsure if we have the reduction there?

    PPOR is hopefully to come around September/October - Will that allow more flexibility with discounts, or should we be looking to change lenders? Or should i be asking our broker? (Which will soon be my wife o_O)
     
    ADLInvestor, 30th Jun, 2015
    #36
  17. Casteller

    Casteller Well-Known Member

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    1.72 % (but that's in Spain, Euros)
     
    Casteller, 30th Jun, 2015
    #37
    sumterrence likes this.
  18. Perthguy

    Perthguy Well-Known Member

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    Negotiated in March 2015:

    IP1: AMP - $440,000 @ 4.15%, under 80% LVR
    MR + IP2: ING Direct - $856,000 @ 4.13%, under 80% LVR (separate loans, not crossed)

    ING has the 1% cash back on interest paid. I find that promo very odd. Happy with those rates though! :)
     
    Perthguy, 30th Jun, 2015
    #38
  19. drg86

    drg86 Well-Known Member

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    Location:
    Forster NSW
    April 2015
    ANZ breakfree
    4.22% 3 loans over 2 IP's 460k 75% LVR I/O
    4.99% Fixed (2013) 280k I/O. Not so bad as IR was 5.8% first half and I've negotiated 4.22% now so end up the same in the end. :)
     
    drg86, 1st Jul, 2015
    #39
  20. Jess Peletier

    Jess Peletier Mortgage Broker & Finance Strategy, Aus Wide! Business Member

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    If you add a PPOR to your CBA lending they will discount for sure, although @ 90% it probably won't be as competitive as others look to be. Under 80% LVR gets the best discounts.
     
    Jess Peletier, 1st Jul, 2015
    #40
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