3 & 5 year fixed rates thread
- Thread starter JIT
- Start date
yep break free!
thanks
I wander if its worth going for the 5.8% or waiting a while longer to see if they go lower?! I would do very nicely with this %. It would be a risk to wait I think. I reckon I should grab it while I can.
What do people think on here. Is 5.8% worth pursuing or do you think the fixed rates will go even lower?
According to the anz website its listed at 5.95% but maybe thats for people who dont have the breakfree package I dunno.
You still pay break costs. You just pay more if rates are higher than what you're currently paying. I just think the emphasis on rates is misleading - nothing is ever certain in business or investing.
be wary
break costs can apply UP or DOWN.
Much depends on ur lenders particular method of funding fixed rate loans AND their obscure methods of calculation the base cost
ta
rolf
'You still pay break costs. You just pay more if rates are higher than what you're currently paying. I just think the emphasis on rates is misleading - nothing is ever certain in business or investing. " Aaron
other way around - if ratea are say 7% and ur fixed at at 6%, then you should pay less break costs
other way around - if ratea are say 7% and ur fixed at at 6%, then you should pay less break costs
Yeah it would help big time! I dont know enough about how fixed rates work and stuff. I need to learn more. For instance after the 2 years I'm assuming I revert back to my breakfree SVR, but is this going to cost much money to switch back to the breakfree.
Perhaps I should wait 2 months and see! I'm waiting to hear back from my mb and I'll discuss with him
Alex
Also, be aware that if u want IO fixed, this is a FULL loan application, so u want to make sure of
1. Your vals are ok ! perth has been a bit so so
2. Your serviceability is ok
If either come short you have wasted ur time and CRAA hit
Get the vals upfront and get the broker to do servicing AND show you its ok
ta
rolf
Also, be aware that if u want IO fixed, this is a FULL loan application, so u want to make sure of
1. Your vals are ok ! perth has been a bit so so
2. Your serviceability is ok
If either come short you have wasted ur time and CRAA hit
Get the vals upfront and get the broker to do servicing AND show you its ok
ta
rolf
thanks for your reply!
Yeah Perth hasn't moved much. At the most my PPOR has only gone up around $10 K - $20 K in 4 years. My ip hasn't moved. ANZ might not want to uncross the loans if the LVR is still close to 80%
Anyway I'll make an appointment and see where I stand. Thanks
Hi Rolf,
is this "Full" loan application required even when you are going from variable to fixed with the same bank?
thanks
Have today been offered by NAB 5.8% for 2 years (to match ANZ) that's with the choice package discount included.
My mb reckons wait to see if the IR fall at the next meeting in Feb. But also that you have to be careful and not wait to long. It might not go much lower than 5.8%. He says if you get something in the 5 range your doing well.
I worked out I'll save a total of around $150 per month for each loan with the 5.8% so I'll wait to see what happens in Feb and then jump at the 5.8%! The PPOR (which is ip#2) will be only slightly NG if I get the 5.8%
I worked out I'll save a total of around $150 per month for each loan with the 5.8% so I'll wait to see what happens in Feb and then jump at the 5.8%! The PPOR (which is ip#2) will be only slightly NG if I get the 5.8%
