3 & 5 year fixed rates thread

Rolf Latham said:
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............

ta
rolf

Yeah so Id have to take into account the $750 lock fee & the cost of the 2 ip valuations.

One ip hasn't gone up in value since I bought it 2 years ago & my studio PPOR in Highgate would have been lucky to have gone up $10 or 20 K since I bought it in late 2008! I'm thinking it might be too risky to get them valued because what would happen if the Banks valued the properties at the same amount or even less?
Click to expand...
 
ANZ 5.99% for 3 years is a tempting fix if you're with ANZ...

Could be as low as we go, or... could be a sucker punch...

Will be interesting to see what WBC/NAB/CBA do with their fixed rates after this round of variable rate moves is over...
 
Alex P Keaton said:
Rolf Latham said:
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............

ta
rolf

Yeah so Id have to take into account the $750 lock fee & the cost of the 2 ip valuations.

One ip hasn't gone up in value since I bought it 2 years ago & my studio PPOR in Highgate would have been lucky to have gone up $10 or 20 K since I bought it in late 2008! I'm thinking it might be too risky to get them valued because what would happen if the Banks valued the properties at the same amount or even less?
Click to expand...
i

If vals are low they will likely still do the fixed but..........

Pi would be the trade off. Which would do nothing for ur cash low

Ta

Rolf
Click to expand...
 
Currently my discounted SV rate is 6.36%. Only a discount of 0.5% or more on a fixed rate with the option of offset would make me decide to change over and even then very very cautiously....
 
Last edited:
I recently had a large loan come off the 4.99 that Westpac had. I called them, told them that ANZ was offering some nice rates ATM & they have come to the party with a sub 6% fixed term for me. It is only two years, but much better than the advertised rates. :D
 
skater said:
I recently had a large loan come off the 4.99 that Westpac had. I called them, told them that ANZ was offering some nice rates ATM & they have come to the party with a sub 6% fixed term for me. It is only two years, but much better than the advertised rates. :D
Click to expand...

Im in the same vote as you skater..just come off 4.99% with half a dozen loans with WBC.. I'm holding off another month to see what they and the opposition do, then will approach WBC same as you and put the squeeze on them for a better than advertised rate on another fixed period.
 
Rixter said:
Im in the same vote as you skater..just come off 4.99% with half a dozen loans with WBC.. I'm holding off another month to see what they and the opposition do, then will approach WBC same as you and put the squeeze on them for a better than advertised rate on another fixed period.
Click to expand...

I was thinking of holding off for longer but decided that if I could get sub 6% I'd just do it. This is the largest of my loans. I've got over 10 more with Wesuck & have left them all variable for the moment.
 
Ok now CBA and NAB have also increased their variable rates, let's see what happens with fixed rates...

And what RBA does next month...
 
Last edited:
From a Hobo on the Bullion Baron site

Let's take a look at past instances where RBA has started a rate cutting cycle:

Jan 1990 to July 1993, rate dropped from 17.5% to 4.75% over 15 cuts
July 1997 to Dec 1998, rate dropped from 7% to 4.75% over 6 cuts
Feb 2001 to Dec 2001, rate dropped from 5.75% to 4.25% over 6 cuts
Sept 2008 to April 2009, rates dropped from 7% to 3% over 6 cuts

Source: RBA
Click to expand...

Source
 
Have locked in 3 year fixed rate with Heritage at 5.95% which has reduced monthly payments by $182 per month, now cash flow positive...... Regardless of what happens from here on...... Very happy!
 
I hit Westpac up for a 3 year 5.99% rate on one $130,000 loan( total loans with Westpac close to a mill. 30% fixed) they said they would get back to me.
Today they said no. 2 years no problem but not 3 years. They stated their flexibility changes daily. Early last week was ok. But not at the moment. I asked for them to try again. They will get back to me in a few days.
 
devo76 said:
I hit Westpac up for a 3 year 5.99% rate on one $130,000 loan( total loans with Westpac close to a mill. 30% fixed) they said they would get back to me.
Today they said no. 2 years no problem but not 3 years. They stated their flexibility changes daily. Early last week was ok. But not at the moment. I asked for them to try again. They will get back to me in a few days.
Click to expand...

How did you go Devo?
 

Similar threads

D
fix loan rate 5 years?
2
Replies
37
Views
7K
Gill Bates
G
C
Thoughts on Fixed Rate from Brokers
Replies
8
Views
2K
albanga
albanga
C
Variable rate
Replies
9
Views
2K
coola71
C
U
Five-Year Fixed Rate 4.75pc ? ? ?
Replies
6
Views
2K
MoneyNverSleeps
MoneyNverSleeps
Mick C
3 years fixed 4.59%
2
Replies
23
Views
4K
robwil
R
Back
Top