What interest rate you have?

My CBA IP rates are now at 4.74%!

What is this 2012?

Which bank is cheaper ? Thinking of switching...

 

Depends on your broker, bells and whistles, discounts (pre-APRA times).

I recall seeing loans.com.au doing an offer for <4% I.R if you bring across your PPOR loan along with 1 investment loan. Dunno if its still active but its worth a peek, or as your broker.

Mine ranges from sub 4% all the way up to a fixed 4.99%. Refinances post-APRA poking have all been 4.8% and higher though, with penalties for IO and penalties for not being an occupier. Penalties everywhere! >_<

However, one bank's "get lost" is a lower tier's opportunity to take market share.

 

PPOR: loans.com @3.71% at P&I. I have been with them since I bought the PPOR. 20% deposit.
IP: Westpac: 4.33% at P&I (could have done IO) have been with them a year and property appreciated so I can now refinance to reduceloans @ 3.67% P&I with 80% LVR

 

IP is with Rams. Just fixed yesterday for 2 years at 4.19%. Interest only.

 

Yes....this was exactly my point about CBA being on the nose...I pay pretty close to this also. A lot of brokers got people into CBA....I cautioned people against the CBA because of their habit of getting people in and increasing rates.

None of my others are that high for variable:

Suncorp - 4.2%
Westpac - 4.32%
RAMS - 4.53%
St George - 4.52%

So CBA at 4.74% is the highest....for I/O only loans....

 

4.84% P&I with Macquarie.

 

4.53 l% amp

Portfolio loan interest only

 

CBA 4.64% IO
STG 4.58% IO

 

Oops, that was meant to be 3.84%.

 

You need to give more information...

Loan to Value Ratio
Total Lending Balance
Do you have any residential lending also with CBA?

If you're thinking 3-4% was going to be around for ever think again.

Anything <5% is going to be cheap very soon is the common thought, it's been posted multiple time on this forum

Many had been suggesting it was time to fix investment loans.

It's what I did 3.99% IO

 

Makes sense but why pay the highest amount just to be apart of cba?

I've been with them my whole life but they are taking the **** now

 

Care to explain with actual evidence of CBA raising rates more frequently or by significant amounts more than any other Big 4?

My experience is that the Big 4 move pretty evenly leading to the net SVR discount being the biggest determining factor. Eg All the CBA clients early last year getting 1.5-1.6% discounts would still be sitting pretty compared to most right now.

 

I believe Brady is asking those questions as larger loan amount and lower LVR's leads to bigger discounts on your SVR. As such, he is trying to ascertain if your rate should/could be lower.

 

Looks like you're receiving a 1.20% discount off your SVR IHL IO
You won't get more discount on this loan with CBA in the current market.
If you don't like the rate I would suggest looking at fixed or other banks, if it's rate that's most important to you.

When switching make sure you have weighed up everything.
You have missed a lot of people on the forum suggesting fixing investment loans whilst you can.
Would also suggest you would have missed many say don't rush into switching for a low rate as some banks might not have put their rates up
Hate to see you switch banks for a lower rate, go through that process/fees only to see the new bank increase their rates.

I've fixed all of my investment loans, I don't advise any of my clients to, but I have told them all that I've personally fixed in my rates.

Goodluck at what ever you end up doing.

 

3.84 on PPOR P&I
4.34 on IP IO
These are with CUA with no annual fees

 

Do you work for cba?

 

Loans for IPs
NAB 3 Years Fixed I/O 4.39%
ANZ 2 Years Fixed I/O 4.59%

PPOR Loan
ANZ 3.8% I/O

 

Typical banker spill thanks for the advice

 

UBank, loans.com. There's plenty of cheaper loans out there.

They may not suit your circumstances or may be advertising bait and switch, or may be difficult to qualify with.

 

Yep....lots of people on here pushed onto CBA.....

Not true even with 1.5-1.6% discounts they are still higher...silly move.

CBA are however are going to go easy with people with P/I IP loans at 80% or under. Much easier here...but repayments will be much higher.