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Got 4.47% with Westpac (300K variable), total lend $700k (other 400k is fixed with 3 years left), less than 70% lvr

Hi Just to close this off, I was the original poster of this thread. I negotiated Westpac down to 4.47% variable (1.18% discount) for my 300k variable (total lend of 700k with the other 400k fixed for another 3 years). They originally offered 4.75% which I rejected.

The discount they have offered is 0.95%, you stating they may give 1.20%?

Hi Situation is as follows: Borrowed 700k Westpac in March 2013 (property purchased 840k) 300k was fixed for 2 years at 4.99 400k fixed for 5 years for 5.69 Fast forward to the present and the 2 year fixed rate is up for renewal. Property is now worth about 1.2/1.3m I have about 120k...

But on 500K, the difference between 5.69% and 4.99% for 3 years equates to about $7200, the cost of the break fee.

Sorry I meant that in the future my income will allow me to prepay interest as I am making over and above the required repayments. All I thought that interest in advance would be doing is moving the interest payable next year into this financial year and then being able to claim. So really...

I am going to prepay the interest each year from now on because my income will allow me to. My point being is that I am going to prepay interest on the rest of the future years so I only lose out on the last year which will be in say about 10 years time

I understand, all I meant was that I wont be able to prepay the interest and get that back each year. What I understand is that by going interest in advance is that I lose my last year of interest claiming on the loan (because it has been prepaid)

I have about 30k in one of the fixed mortgages and another 20k in another. Getting interest on say 30k at 5% is only $1500 a year or so. But paying that 30K in interest gives me at least $10k from the tax man

But Aaron, if I dont break this year, then I wont be able to claim for the next 4 years. Also the cost of the break fee is offset well and truly by (i) tax deduction of the break fee (ii) the new 4.79% compared to the current 5.69%. On a 500k loan, I think it averages out better. By...

Yep Rang Westpac and confirmed as such above. To break the 2 year fixed it is $1409 (with 1 year left on the loan). To break the 5 year fixed it is $7000 (with 4 years left). Looking to break both, then fix 80% of the loan interest only in advance at 4.79% for 3 year fixed (let me know if...

Hi I have a question. Current situation is as follows: - I have two Westpac Fixed Investment Property Loans - Each Loan is $350K - One of the loans is fixed for 2 years (1 year left) at 4.99% and the other is fixed for 5 years (4 years left) at 5.69% - One of the loans I have...

Jacque, what do you think of Oatlands? Can anything decent with over 1000sq be bought for under a mill? What do you think of prices for this area and streets etc. Thanks

I think the round of increases are well and truly on the cards. Remember the banks move before the RBA.

I also know that westpac raised their fixed rates this week especially the 5 year rate. Tells a story?

Does anyone have any thoughts on Oatlands as an area. Looking for 1000sq of land with decent house to rent and then subsequently build. What should i be expecting to pay (house does not need to be brick, just high side and quarter acre).

Hi I am looking at buying in this area and would like forums thoughts on locals that know this area. I am preferably looking for a big block say 1000sqm to build a big house on one day. I note the following recent sales...