Author Topic: Interest rates  (Read 4443 times)

marty998

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Interest rates
« on: July 02, 2019, 05:07:24 AM »
Cash rate cut to 1% today. This thread is for the deals you guys are seeing out there in terms of home loans and investment loans.

Share your specials that you are getting from the banks. I'm in need of some assistance as my 5yr 4.89% fixed (investment) loan ends in early September.

Amazing to think 4.89% was a record low 5yr rate when I took it out in September 2014.

Ozlady

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Re: Interest rates
« Reply #1 on: July 02, 2019, 06:32:17 PM »
i fixed 2 of my loans with Wesucks Interest in advance 1 year at net 4.19%..

now i have to go battle  for a better variable rate tho:(

Major Tom

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Re: Interest rates
« Reply #2 on: July 02, 2019, 07:02:50 PM »
ING 4.14% Investor Loan Variable as at 30 June 2019

Bloop Bloop

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Re: Interest rates
« Reply #3 on: July 02, 2019, 08:24:38 PM »
I'm currently getting 3.67% variable offset with CBA for an IP (principal and interest), less whatever further rate cut they apply based on the most recent cut. I don't know of any better offer for an IP offset loan (I need the offset for when I buy my next PPOR so that I can transfer all my money into that mortgage asap).


marty998

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Re: Interest rates
« Reply #4 on: July 03, 2019, 02:18:14 AM »
I'm currently getting 3.67% variable offset with CBA for an IP (principal and interest), less whatever further rate cut they apply based on the most recent cut. I don't know of any better offer for an IP offset loan (I need the offset for when I buy my next PPOR so that I can transfer all my money into that mortgage asap).

How did you get this for an IP? I can get that for PPOR but not investment.

Bloop Bloop

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Re: Interest rates
« Reply #5 on: July 03, 2019, 05:16:51 AM »
Asked bank manager very nicely. Note, this was before the Royal Banking Commission, so maybe things have changed with stricter IP measures these days.

If you have a PPOR you can get lower than the rate I quoted, but I think only 5-10 basis points. Ask your bank manager nicely. They are allowed one interest rate "review" per year, if you're on the Wealth package. Might depend on how many products you have with the bank.

bigchrisb

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Re: Interest rates
« Reply #6 on: July 03, 2019, 05:22:54 AM »
I'm currently 4.0% fixed for 1 year interest in advance on a margin loan. 
My PPOR mortgage (loans.com.au) is interest only and at 3.56% (they have said they are passing on the full 25 basis points from the last RBA move).

I fixed the margin loan before the last two cuts, which is a slight bugger.  But I still feel the rates are reasonably sharp for interest only loans.

Of course, keen to hear about others rates, the more fuel for the negotiating fire!

Bloop Bloop

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Re: Interest rates
« Reply #7 on: July 06, 2019, 04:38:25 AM »
If anyone is interested, UBank's P&I IP loan rate is 3.74%. I assume this will go down to about 3.50% with the latest cut. That's still pretty good. No offset though, so it's useless if you're playing the PPOR/IP shuffling funds game.

Does anyone know why UBank doesn't offer an offset? Is it really that hard??

marty998

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Re: Interest rates
« Reply #8 on: July 25, 2019, 05:50:18 AM »
If anyone is interested, UBank's P&I IP loan rate is 3.74%. I assume this will go down to about 3.50% with the latest cut. That's still pretty good. No offset though, so it's useless if you're playing the PPOR/IP shuffling funds game.

Does anyone know why UBank doesn't offer an offset? Is it really that hard??

Probably goes against the marketing strategy of what Ubank is - a cheap, discount lender for NAB to nab that section of the market that doesn't need the full service that the mothership provides.


alsoknownasDean

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Re: Interest rates
« Reply #9 on: September 02, 2019, 05:05:49 AM »
Suncorp are offering 3.29% on their 'basic' home loan and 2.99% on a fixed. Seems decent enough.

marty998

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Re: Interest rates
« Reply #10 on: September 02, 2019, 03:20:17 PM »
Re-fixed my IP loan with CBA today at 3.59% for 2 years.

Went through the process with St George to see what I could get but I'd only come out a smidgeon ahead so it really wasn't worth the effort.

$4,500 annual saving coming my way regardless. Happy boy.