What rates can I get?

Discussion in 'Loans & Mortgage Brokers' started by Ardi, 18th Feb, 2020.

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  1. Jess Peletier

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

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    CBA for servicing, hands down
     
    Jess Peletier, 25th Feb, 2020
    #61
  2. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    Valuation is more art than science:)

    at 80 % CBA Avms tend to be a little better than ANZ, consistently

    ta
    rolf
     
    Rolf Latham, 25th Feb, 2020
    #62
  3. Ardi

    Ardi Well-Known Member

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    Best CBA are able to do for us is 3.24% fixed for 3 years IO for 5 years. Total loan amounting to around 1.24m.

    Looking pretty appealing for IO 3 year fixed rates. At this stage I do not believe CBA are passing on the RBA cut to IO or fixed rates.
     
    Ardi, 3rd Mar, 2020
    #63
  4. Lindsay_W

    Lindsay_W Well-Known Member

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    CBA announced cuts of .25% for investment and owner occ home loans for both P&I and IO, Variable of course.
     
    Lindsay_W, 3rd Mar, 2020
    #64
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  5. Jess Peletier

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

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    Not to fixed, but they are to IO INV.
     
    Jess Peletier, 3rd Mar, 2020
    #65
  6. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    Fixeds are a different pricing mechanism, and may already have some or all of this in the rate #

    ta
    rolf
     
    Rolf Latham, 3rd Mar, 2020
    #66
  7. Never giveup

    Never giveup Well-Known Member

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    Are you going direct to CBA?
     
    Never giveup, 22nd Mar, 2020
    #67
  8. Ardi

    Ardi Well-Known Member

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    Yes
     
    Ardi, 24th Mar, 2020
    #68
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  9. Jess Peletier

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

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    New fixed rates are coming through shortly - not advertised yet, so don't rush and fix now - you'll kick yourself. ;)

    They don't come into effect until the end of the month, but it's about 0.7% off and will bring it down to 2.29% for OO P&I.

    Other lenders are following suit - I don't suggest rate chasing right now. The surprise additional 0.25% wasn't really prepared for by lenders, it seems, and most are taking their time releasing what they're doing.

    If you chase rate now, you may not be comparing apples with apples - give it a few days until more lenders have released their new rate cards.
     
    Jess Peletier, 24th Mar, 2020
    #69
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  10. Never giveup

    Never giveup Well-Known Member

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    With all the rate cuts...do you think serviceability calculator is also improving?
     
    Never giveup, 24th Mar, 2020
    #70
  11. Peter_Tersteeg

    Peter_Tersteeg Mortgage Broker Business Member

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    There's still a floor rate in place, so servicing isn't improving at this point.

    I can see APRA loosening this after the crisis as part of the recovery, but I imagine they'll wait until that time to implement it.
     
    Peter_Tersteeg, 24th Mar, 2020
    #71
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  12. Never giveup

    Never giveup Well-Known Member

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    Not worth in our case !
     
    Never giveup, 24th Mar, 2020
    #72
  13. TylerJamesson

    TylerJamesson Well-Known Member

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    CBA offered me 2.89% on my residential investment loan (block of 4 townhouses) interest only fixed for 2 yrs this week. I’ve taken it.
     
    TylerJamesson, 27th Mar, 2020
    #73
    Ardi likes this.
  14. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    not many lender options so thats a good move, or stay actually :)

    Moving would be problematic due to needing a full val

    ta
    rolf
     
    Rolf Latham, 28th Mar, 2020
    #74
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  15. ChrisP73

    ChrisP73 Well-Known Member

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    AMP have reduced some of their rates for new business effective 27th March

    I haven't seen an automatic reduction on my existing variable rate loans - what success have people had in negotiating with AMP for existing loans to reduce rates inline with new business rates - these rates are 0.25 & 0.34% higher than what I'm paying on my existing AMP propack IO and P&I loans.

    upload_2020-3-28_7-2-31.png
     
    ChrisP73, 28th Mar, 2020
    #75
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  16. ChrisP73

    ChrisP73 Well-Known Member

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    AMP reductions have come through this week. I'm still paying .08% over the new business p%i variable rates, but I'm not going to quibble too much about that!
     
    ChrisP73, 2nd Apr, 2020
    #76
  17. Lindsay_W

    Lindsay_W Well-Known Member

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    Not bad!
    AMP in general aren't into pricing discounts like other lenders, they advertise and offer cheap rates straight off the bat
     
    Lindsay_W, 2nd Apr, 2020
    #77
    ChrisP73 likes this.
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