3 & 5 year fixed rates thread
- Thread starter JIT
- Start date
Wow, so great rates here, Peter
Citibank is at 6.25% now for up to 3 years and if you are refinancing they will refund $1,000 of the costs as well.
Hi gang,
I have been considering refinancing a couple of my properties looking at some of the fixed rates available presently. I came across Newcastle Permanent last night and from what I can tell they offer 1-3 yr Interest Only fixed rates at 5.99%, along with 1k "cash-back" to allow for any loan payout figures from the previous lender. There is a 500 dollar establishment fee for the and I can't seem to find if annual valuations are included.
One of my properties has a valuation that I believe to be quite a fair bit higher than reality some time ago, and took most of the equity from this and I am worried if I transfer the loans across to a new lender, they will demand a new valuation. The valuation was done by ANZ and they are known to be quite conservative, so I am wondering if a new lender would simply take ANZs word for it?
Thanks in advance,
I have been considering refinancing a couple of my properties looking at some of the fixed rates available presently. I came across Newcastle Permanent last night and from what I can tell they offer 1-3 yr Interest Only fixed rates at 5.99%, along with 1k "cash-back" to allow for any loan payout figures from the previous lender. There is a 500 dollar establishment fee for the and I can't seem to find if annual valuations are included.
One of my properties has a valuation that I believe to be quite a fair bit higher than reality some time ago, and took most of the equity from this and I am worried if I transfer the loans across to a new lender, they will demand a new valuation. The valuation was done by ANZ and they are known to be quite conservative, so I am wondering if a new lender would simply take ANZs word for it?
Thanks in advance,
New Val will be done.
So it be a good idea to get the val done first before submitting your file to them.
Regards
Michael
So it be a good idea to get the val done first before submitting your file to them.
Regards
Michael
If the "higher" val that was done with ANZ was done more then 18 month ago- then i would say so...generally speaking the market has been falling with some small pocket where it has gone up.
Regards
Michael
Suncorp 6.2 3 years.
Fixed rate doesn't move in concession to the RBA; it's a different funding source.
So it be the bank's internal decision if they want to increase or decrease the fix rate based on what contact they can write up in the global/ wide economy.
To date, i dont think any of the banks has made any major announcement on fixed rate changes yet. They are more concern with variable at this point in time as this is where they make the most $$$
Regards
Michael
My 3 year fixed loans on 4 ips expire in December 2011
Westpac have given me a new offer of .3 below the current fixed 3 year rate
which would be 6.34%
I had a 4.99% rate for 3 years and have done well . I am retired and dont have a wage income to offset the increase interest rate as a tax deduction and rely on cash flow
So can anyone give me there input whether to wait and just go to a variable loan or take this offer The variable they have given me is 7.16% which will be reduced by .25 as of cup day
Senior
Westpac have given me a new offer of .3 below the current fixed 3 year rate
which would be 6.34%
I had a 4.99% rate for 3 years and have done well . I am retired and dont have a wage income to offset the increase interest rate as a tax deduction and rely on cash flow
So can anyone give me there input whether to wait and just go to a variable loan or take this offer The variable they have given me is 7.16% which will be reduced by .25 as of cup day
Senior
fixed rate vs variable
Hey guys,
How do you feel about current fixed vs variable rates at the moment. I would like to hear your thoughts about which you would take preference to.
Hey guys,
How do you feel about current fixed vs variable rates at the moment. I would like to hear your thoughts about which you would take preference to.
ME BANK
http://www.membersequitybank.com.au/rates_and_fees/home_loans.html
Standard Home Loan Interest Rates
Fixed 1yr 6.49% p.a.
Fixed 3yrs 6.35% p.a.
Fixed 5yrs 6.99% p.a.
Ultimate Offset Account Interest Rates
Fixed 1yr 6.49% p.a
Fixed 3yrs 6.35% p.a.
Fixed 5yrs 6.99% p.a.
what i dont understand with fixed why is the comparison rate higher even though the rate is alot lower than the variable?
also can you still repay more into the loan if its fixed? or is there a limit?
being so much lower that ht4e variable at this time u think that the rate wont drop as much as the difference in the fixed interest in one year atleast would it be worth fixing them for just one year?
http://www.membersequitybank.com.au/rates_and_fees/home_loans.html
Standard Home Loan Interest Rates
Fixed 1yr 6.49% p.a.
Fixed 3yrs 6.35% p.a.
Fixed 5yrs 6.99% p.a.
Ultimate Offset Account Interest Rates
Fixed 1yr 6.49% p.a
Fixed 3yrs 6.35% p.a.
Fixed 5yrs 6.99% p.a.
what i dont understand with fixed why is the comparison rate higher even though the rate is alot lower than the variable?
also can you still repay more into the loan if its fixed? or is there a limit?
being so much lower that ht4e variable at this time u think that the rate wont drop as much as the difference in the fixed interest in one year atleast would it be worth fixing them for just one year?
Bman
Stop reading the comparison rate, and your life will be a lot better...
The comparison rate has no bearing on reality and only serves to confuse you.
It is another example of government interference in an industry, creating legislation that doesn't help anyone.
Stop reading the comparison rate, and your life will be a lot better...
The comparison rate has no bearing on reality and only serves to confuse you.
It is another example of government interference in an industry, creating legislation that doesn't help anyone.
I'm a broker and the comparison rates even confused me.....
Stop Stealing my words
More to the point, the confusion is good for business.
Feds had an opportunity to scrap it, but decided that is was good to continue.
Pity they didnt ask the major stake holders, not dissimilar to other legislative changes in recent times.
ta
rolf
