3 & 5 year fixed rates thread

[Brady]

Agree with Aaron fixing isnt about the best rate, looking soley at the rate gets many in trouble.

In saying that I have fixed a portion of my loan 2YR @ 5.8% when I purchase about 6months ago, its IHL more then happy to pay 5.8% and still keep variable portion allowing me to have a offset acocunt.

 

[virgo]

Cba

Hiya

Hi ho! hi ho! and off to fix i go....

CBA: 2 years 5.59%
CBA: 3 years 5.69%

Cheers!

 

[skater]

I called my Westpac loan manager today and he said didnt know about the 3 year fix rate of 5.59% - he said he will go and find out.

It's a rate I negotiated because of substantial holdings. It's not an advertised product.

 

[monalisa]

Hiya

Hi ho! hi ho! and off to fix i go....

CBA: 2 years 5.59%
CBA: 3 years 5.69%

Cheers!

I called CBA - they said 5.79% for 3 years or 5.59% for 2 years - I think would be good to go with 3 years. lower the better - but may be don't have enough borrowings!

 

[Doncossack]

Finally bit the bullet and fixed two smaller loans with CBA for 5.79% for 3 years..
Also fixed a slightly larger loan a few months ago for 5.99% also for 3 years..
Quite happy to be in the 5's for the first time..

Also stuck with a Westpac loan at 8.59% which comes off it's fixed term in March....That wasn't my best decision, lesson learnt!!

 

[Tebby]

It's a rate I negotiated because of substantial holdings. It's not an advertised product.

I have more than $2M of borrowings with Westpac... maybe I should ask someone else in Westpac...

 

[Rixter]

I have more than $2M of borrowings with Westpac... maybe I should ask someone else in Westpac...

Maybe you should be speaking with their Mortgage Retention Team instead of a loan manager.

 

[redwing]

Maybe you should be speaking with their Mortgage Retention Team instead of a loan manager.

Did you threaten to leave first, or just call the mortgage centre?

 

[Rixter]

Did you threaten to leave first, or just call the mortgage centre?

I phoned the mortgage centre in Adelaide and asked to speak to a member of the Mortgage Retention Team.

 

[Tebby]

Maybe you should be speaking with their Mortgage Retention Team instead of a loan manager.

Good idea Rixter, I will ring them tomorrow. I will threaten to take my business to CBA.
I hate how I cant get transactions old than 3 months exported from Westpac online banking.

 

[Rixter]

Good idea Rixter, I will ring them tomorrow. I will threaten to take my business to CBA.

Maybe thats where you could be going wrong - dont threaten them...Im sure you wouldnt like to be threatened. What you need to do is bring to their attention that you are aware that.....insert few bank names with their current rates...You also tell them that you know of a number of other investor colleagues who are also with WBC who have secured those same rates...then ask, can you match for your loan/s ?

I hate how I cant get transactions old than 3 months exported from Westpac online banking.

Why do you want longer than 3 months?

 

[Tebby]

Why do you want longer than 3 months?

Because Im not organised

 

[Rixter]

Because Im not organised

Well if you're not organised how can you expect others to do business with you.

 

[Rolf Latham]

I have more than $2M of borrowings with Westpac... maybe I should ask someone else in Westpac...

concentration risk : )

Especially if you are looking to tie down more debt

maybe you should be looking outside of WBC, unless the 2 mill is 20 % of your loans

ta
rolf

 

[Tebby]

concentration risk : )

Especially if you are looking to tie down more debt

maybe you should be looking outside of WBC, unless the 2 mill is 20 % of your loans

ta
rolf

Westpac has been really good to me so far in term of loans. I also have loans with 2 other banks although I find them to be harder to deal with. I will try to spread around more.

 

[Brady]

concentration risk : )

Especially if you are looking to tie down more debt

maybe you should be looking outside of WBC, unless the 2 mill is 20 % of your loans

ta
rolf

Concentrated risk?

Please explain? because he has debt with one bank puts him in higher risk???

 

[redwing]

I hate how I cant get transactions old than 3 months exported from Westpac online banking.

I thought you could get up to six years of history if you go electronic?

 

[Tebby]

I thought you could get up to six years of history if you go electronic?

You could get the monthly eStatements but if you want to have them exported to an excel sheet for example for accounting purposes it only goes back a few months. This is what I have found.

 

[skater]

Maybe you should be speaking with their Mortgage Retention Team instead of a loan manager.

Yeah, Loan Managers have no authority.

 

[MKP]

I am also currently stuck with CBA fixed at 8.14%, can't wait until it floats in March 2013 and hope for the best that rate will still be down then. I don't regret with the decision because at the time rates were heading up to double digits territory.. so its all about risks we are prepared to take. Even the bank manager that looks after my recent loan from CBA told me that has her own loan stuck at 8.4% rate....from 2008 era.
MKP

Also stuck with a Westpac loan at 8.59% which comes off it's fixed term in March....That wasn't my best decision, lesson learnt!!