What interest rate are you paying?

Thanks for your reply Jess! After having a look through this thread that's what i figured. Looks like we'll need to wait for some growth

 

Hmm mine are at 90+ though.

 

Are you through CBA as well @D.T. ? Looks like our base variable rate is 5.45%, with the wealth package discount it's now 4.75%.

 

Half half wbc / cba I'd say

 

Not necessarily - once your new PPOR is on the radar, get your broker to do a cheeky pricing request. The worst that can happen is that they say "no, the most you can have is 'x'!". They can surprise you sometimes.

 

Thanks again Jess! My wife is about to become our broker, so i'll get her to do this towards the end of the year when we get our PPOR. The PPOR will put us above $1m, will that make a difference?

 

Yep - the more you have the better (from a rate perspective, anyway). Just be sure not to cross the securities when you buy your PPOR.

 

That's definetly one thing i've realised through a lot of reading from here and SS not to do!

 

Most of my properties are in trust companies, they generally carry a higher rate.

Who has good interest rates for trusts ?

 

I have a total of three loans with Commbank that total just over $850k
Two are variable rates at 4.40%
one was fixed for three years 5.99%, likely about to expire. Leverage is I think around 70%

Everyone on this thread appears to be getting better rates. Should I push Commbank to lower it?

 

Most lenders price the same for trusts as any other investment loan. They don't attract higher rates. Which lender are you with?

 

4.40% is a reasonably good deal with the CBA for $850k of investment lending right now. Their quoted rate is 4.45% and they're generally not negotiation on investment lending. It can't hurt to try but I wouldn't get my hopes up.

I'm willing to bet that your fixed loan will revert to something higher. It should be possible to negotiate with them to the same rate as your other loans.



I generally don't like these types of 'what rate are you paying' threads. It's certainly a good idea to check up on what you're paying and look at your options if necessary, but a lot of the comments are without context. Loan amounts, loan structure, LVR all play a factor in pricing. Timing is a big factor right now as well; you simply won't the get same deal today that others may have enjoyed 8-12 weeks ago, the market has changed. What rates person A enjoys is unlikely to be relevant to what person B can get.

 

Grrr. Annoying hearing what others have got.
But I wonder how many of these good rates were done before the recent tightening?
As an example, right now I'm going for 90%+LMI (=92%) on a new $480k loan. W/StG are only doing 4.58%. Adel is 4.64%. I could go 88%+LMI, but W/StG are the same 4.58%, but Adel come down to 4.24% (but I understand it's harder and costlier to extract equity later from Adel and their LMI is $1400 more, so I'm less inclined).

 

I am anticipating that already. One of my other loans was fixed as well, and when the fixed term expired the variable rate that it reverted to was higher. I had to go into the bank and ask them to lower it. Thankfully after filling out a form and waiting while they submitted it to another department I got my rate revised.

 

Hi all,

IP (converted from original PPoR): 3.83% IO
PPoR: 4.22% P&I

Owe about $1m (mostly on the PPoR) with both properties worth approx $1.6 combined.

Both loans with loans.com.au, unfortunately x-coll'd (rookie mistake) but very happy with rates.

 

Assuming the two loans have equal amounts, you're paying an average of 4.025%, which is about what they're advertising today.

Under that same assumption, you're actually paying higher than you should for your non-deductible debt and less than they offer for the tax deductible loan. You should go back to them and ask them to switch the interest rates, it will be a far better outcome from a tax and cash flow perspective.

 

Thanks Peter, I should put that question to them but am pretty confident I know what the answer will be!

I really need to pull my finger out and review the entire loan structure for a number of reasons.

 

About $2.4M in loans with Westpac. Not sure what my discounted variable is now, but I think I've got 1.1% off their headline rate...

Just went and checked, I think its 4.28%...

 

Have you refinanced these at any point (topped up)?

 

I found my options when I mention getting finance through a trust more difficult. Is it easier if you are refinancing ?

I got a couple with ME bank (personal) Trust ones with AMP and Folio (*******).

From memory ( I could be wrong ) but alot of banks would only do 80% of weekly rent, where as my lenders would do more...