Howcome? I think a 2 year is fine. MB reckons so as well.
3 & 5 year fixed rates thread
- Thread starter JIT
- Start date
Howcome? I think a 2 year is fine. MB reckons so as well.
You probably wont get any benefit in the short term, rates would have to go up quickly for you to break even.
would it be better to lock 1 in and then see if you can lock the next one - PPOR (which is ip#2) at a lower rate that may get it closer to neutral?
Hi Rolf,
How do you get vals done upfront that the bank will accept? My bank (start with a W), said they won't take any valuations I personally get done.
The bg red doesnt offer upfront vals
BUT
even there u can get around itat small cost
WBC usually has only ONE panel valuer in a Postcode
Hire that valuer personally, let em know u want a val for mortgage purposes.
They arent going to give u one number and WBC another when they run their own with the same firm
We have used this strategy quite a bit to mininmise CRAA hits due to sad vals
ta
rolf
I have done the same with WBC.. has worked a treat.
hmmmm, that is an idea! I'll think about that one!
edited to say: I'm not sure if I can though because they are cross col. there are 2 separate loans. a residential investment loan and a regular home loan. so maybe i can i dunno. i'll talk to mb come early feb. thanks for the idea!
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Now that the RBA didn't cut the rates and they say the banks might increase IR soon I think it is now the ideal time to grab the 2 year 5.8% fixed rate ANZ is offering!! I dont think the fixed rates are going to go much lower!!
I dont plan to be buying in the next 2 years so this would be ideal for me!
MB advised me a couple of weeks ago to wait until after Febs RBA announcement and so now I will ring him and make an appointment.
I'm with breakfree so I'm hoping I can still keep my loans as IO and with an offset attached!
I dont plan to be buying in the next 2 years so this would be ideal for me!
MB advised me a couple of weeks ago to wait until after Febs RBA announcement and so now I will ring him and make an appointment.
I'm with breakfree so I'm hoping I can still keep my loans as IO and with an offset attached!
Yeah I read earlier that anz offset only comes with the 1 year fixed rate loan. You also have to pay $750 lock fee. I reckon I'm better off just staying SV!
Adelaide bank and credit union Australia offer 100 % offset on fixed rate loans.
the Rock building society used to but don't any more
Expect interest rates to be a little higher than normal for the obvious benefit
TA
Rolf
yup
I like to call that a cocktail loan
ta
rolf
I like to call that a cocktail loan
ta
rolf
ANZ Fixed rate - New with Breakfree !
ANZ have a special offer.
For a limited time you can fix for 3 years @ 5.99% on an ANZ breakfree package. I'm hoping this means that 100% offset and IO applies ?
http://anz.com/personal/home-loans/compare-home-loan/breakfree-home-loan/
The site says:
To take advantage of these special offers, applications must be submitted between 6th February 2012 and 29th February 2012, and loan must be drawn by 31st August 2012.
ANZ have a special offer.
For a limited time you can fix for 3 years @ 5.99% on an ANZ breakfree package. I'm hoping this means that 100% offset and IO applies ?
http://anz.com/personal/home-loans/compare-home-loan/breakfree-home-loan/
The site says:
To take advantage of these special offers, applications must be submitted between 6th February 2012 and 29th February 2012, and loan must be drawn by 31st August 2012.
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100 % offset...............no, not on the fixed, but u can split a small variable portion out and still have an offset on that.
IO, yes, but...................until sometime in the future a Variable to IO fixed conversion is "credit critical" you will need to apply for the loans from scratch , including vals............
This can often be a gotcha with many products where we dont look carefully at what may or may not happen in the future
ta
rolf
Considered moving a couple of loans to the ANZ 5.99%. But our variable rate is only 6.26%. For 0.27%, it would save $100/month, BUT we'd be locked in... not sure if $100/month is worth the flexibility, or conversely, the hassle!
consider ................
New loan app
New vals
New credit
etc
not yet, tick and flick as at most lenders
ta
rolf
