3 and 5 year fixed rate thread
- Thread starter lizzie
- Start date
I don't like fixing for such a long time as things may change in 5 years. What if you need to sell? Get equity out? Very dangerous thing to do.
if you are inclined to fix for that long then st george fee is .15% which is only going to add .03% to your rate each year for the 5 years so any increase would be much more than this you would imagine. CBA rate lock is $750 so depending on the fixed amount you would have to work out the %
Can usually get equity out with a seperate stand alone loan.
But agreed 5 years is a long time to fix, mind you I did consider a 5 year fixed rate, ended up going with 2
But agreed 5 years is a long time to fix, mind you I did consider a 5 year fixed rate, ended up going with 2
Same here. 4.99% fixed is a good rate for 2 years.
Is that on the 2 years' fixed? If it is, I'm surprised as I thought that the next change would be an increase.
I could be wrong... I thought when I looked the other day that the 4.89 read 4.99, but the other rates of 4.99 havent changed so it could just be my recollection....
http://www.nab.com.au/wps/wcm/connect/nab/nab/home/personal_finance/6/1?urid=1364262521754
anyway enough dilly dally - have gone for it now.
Just checked. 4.89% only for interest in advance which is always cheaper than normal rate.
Hi,
I believe IO fixed option is always higher than P&I fix option.
Also interest in advance fix option is always lower than fixed IO and/or fixed P&I.
This is based on my exp, but best to check with respective banks.
Thanks. Basically I'm keen to fix only 50% of my loan amount and retain the remaining 50% at variable rate so that I can continue to utilise the 100% offset account (linked to the variable loan account) to minimise my interest payments. I'm opting for IO purely due to tax reasons.
Does anyone know what the comparable 2-year fixed rate for IO in arrears at CBA?
4.99% under MAV/Wealth package.
Thanks. I saw that but there was no mention if the rate also applies to IO only repayments. Thanks also to Aaron_C who clarified. So it does look like nab is less competitive by charging 0.1% extra for IO compared to P&I.
only if u let them
A refinance discharge request usually works wonders with NAB
ta
rolf
I was told by nab that their turnaround is approx 1 week. There are forms that need to be signed and they will do a formal credit check again. Apparently if I ask for split loans (a portion fixed a portion variable) it will take even longer. I so wish I was with CBA.
Hi all
I'm considering moving from variable to fixed.
But in making the decision, I would like to know what the break fees are (eg: if I decide to sell the property or move back to the variable option).
The banks said they are unable to provide me with an indication of the fees.
Does anyone know if there's a formula? Or has anyone had any experience and is able to provide some indication?
Thanks in advance.
I'm considering moving from variable to fixed.
But in making the decision, I would like to know what the break fees are (eg: if I decide to sell the property or move back to the variable option).
The banks said they are unable to provide me with an indication of the fees.
Does anyone know if there's a formula? Or has anyone had any experience and is able to provide some indication?
Thanks in advance.
