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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,
Hmmmm, thanks mate, it would seem if i try to shift this property from the current lender, i may be worse off one way or the other, as i would expect the valuation to significantly drop.
Cheers,
Any changes / updates on fixed rates now that RBA has announced .25% rate cut?
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.
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.