3 & 5 year fixed rates thread

This is poorly thought out.

If the 3yr rate gives you a saving or you think rates will move up then it is not a poor strategy to fix for that long, hell I would fix for 10 years at 6% if I could, who cares if the rates go to 5%, so I would be paying a little bit more than I could have been, but I have certainty.

I agree. I fix rates for SANF of certainty knowing my portfolio's insulated from economic fluctuation. Any cash flow advantage from a rate rise post fixing becomes a bonus. If rates drop post fixing that becomes my premium paid for SANF.
 
Hi all,

I refinanced and fixed a couple of months ago with WBC at 5.73 for 2 years; this was when they were offering a discounted 6.19 for 2 years. It was also when Citibank were offering 5.75 for 3 yrs. So I believe it is possible to get an aggressive rate particularly if the bank happens to have had a good deal securing funds themselves, and can afford to pass some of that onto the client.

Looking ahead, there is talk today about the cash rate going down to 3% or lower; As the banks tend to take a long term and pre-emptive view on fixed rates, I wouldn't be surprised if 2 and 3 yr fixed rates are soon offered at 5% to 5.5%. Remember in early 2009 when WBC offered their 4.99% 3 yr rate for a limited time - that was then the cash rate hit 3%.

So i guess people can either haggle for a lower fixed rate package right now or just wait 3 to 6 months for the cash rate to get to 3%.
 
Does anyone know what's the lowest 3y fixed rate from St George for smsf borrowing? I was first quoted 6.09%, but then the phone got cut off and when I called again they said 6.49%? :rolleyes:
 
Done!

At last, completed fixing most of our loans this week :)

RAMS - 3y, 5.99%
Suncorp - 3y, 5.95%
St George (smsf) - 3y, 6.09%

Leaving ANZ alone, as they did require full assessment again! :rolleyes:

I know IR may go down again. But since we're residing overseas now, and doesn't earn aud, fixing will give us bit more certainty.

Thanks all for the info.
 
Rolf you need to see a bridge engineer and buy some sturdy shoes.


Interesting with ANZ that if you had a broker friend who rewrote these loans they would get paid full upfront again, whereas a lot of other lenders only pay if there is an increase.
 
Interesting with ANZ that if you had a broker friend who rewrote these loans they would get paid full upfront again, whereas a lot of other lenders only pay if there is an increase.

yeah Wesuck same..............but thats not my point :)

maybe I need a shadow accred number .................


ta
rolf
 
I fixed some loans with RAMS last week @ 5.99%. Was quoted $295 change fee for each, but they ended up waiving 50% of them. No extra fee above that. It was an easy process too. Just give them a call and they do it all over the phone...no re-approval, no forms to sign, etc.

I was actually un-aware that the fixed rate maybe on the way up, until reading this thread. Was fixing because we live overseas now, so prefer to keep things a bit predictable, with fx to worry about and such. Just wonder what you guys thought about the rate, is it on the way up, or is there any possibility of one or more rate cut(s) this year?
Interesting! Thanks!!
 
and vals

blood sample

and then have the hide to tell your client that your broker gets paid full bnew comm when they get a big fat zero...................

ta

rolf

Slightly off topic, I have the 5 year IO period on 4 ANZ variable loans finishing
and they are allowing another 5 years IO without applications(also extending loan term by 5 years):)
 
and vals

blood sample

and then have the hide to tell your client that your broker gets paid full bnew comm when they get a big fat zero...................


Ouch! :eek:

We had a 'little incident' when doing a top-up with them few years back (on this same loan). Tried to do it via our broker, but was told that increase could only done directly via branch. All went well...then at the end of the process they said $ is available now, but we needed to change your account number, so you may want to setup your direct credit again, etc. I didn't think much about it, until later on my broker asked me if I sold the property. Turns out they cut his commission, and the increased loan is put under their internal lender name!
 
Ouch! :eek:

We had a 'little incident' when doing a top-up with them few years back (on this same loan). Tried to do it via our broker, but was told that increase could only done directly via branch. All went well...then at the end of the process they said $ is available now, but we needed to change your account number, so you may want to setup your direct credit again, etc. I didn't think much about it, until later on my broker asked me if I sold the property. Turns out they cut his commission, and the increased loan is put under their internal lender name!

Will be speaking to my broker to see if what we are doing affects him.
 
Slightly off topic, I have the 5 year IO period on 4 ANZ variable loans finishing
and they are allowing another 5 years IO without applications(also extending loan term by 5 years):)

Interesting. thats outside of policy. Perhaps the branchie has reapplied for you using the salary deposits into the anz account? or perhaps it was simply an oversight.
 
Interesting. thats outside of policy. Perhaps the branchie has reapplied for you using the salary deposits into the anz account? or perhaps it was simply an oversight.

No branchie or salary deposits involved

Received letters for 2 loans from Manager Account Maintenance informing me of new monthly repayments and to ring them to discuss any aspects of the loan.

Rang and requested new 5 year IO, which was given and loan period extended by 5 years, 2 other loans with 5 year IO expiring in 2013 and 2014
were also extended at the suggestion of ANZ.

Contracts arrived by Express Post next day.
 
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