3 and 5 year fixed rate thread
- Thread starter lizzie
- Start date
Well, I have bitten the bullet and fixed 3 loans in with Suncorp at 5.39 for 3 yrs.
It could have been lower if I either went to another lender or waited for another drop, however, for convienience and to save on break fees I negotiated with Suncorp. BTW, they were not keen on budging until I sent them to the CBA website to look at their 5.39 offering.
I have a relativley low tollerance for risk as I am the only source of income for my family so I'm hoping it is a good move.
Time will tell!
Thanks for everyones input in this thread, it has saved me cashola and helped the SANF.
Cheers!
It could have been lower if I either went to another lender or waited for another drop, however, for convienience and to save on break fees I negotiated with Suncorp. BTW, they were not keen on budging until I sent them to the CBA website to look at their 5.39 offering.
I have a relativley low tollerance for risk as I am the only source of income for my family so I'm hoping it is a good move.
Time will tell!
Thanks for everyones input in this thread, it has saved me cashola and helped the SANF.
Cheers!
0.02 difference....I'd be questioning is it really worth the effort for a miserly amount?
Personally the rate fixed at is not the reason for fixing.
Yes for 0.02 it's not worth it....anything less then 0.20 is really pointless.
But it;s the same bank....not like the client is refinancing externally????
For my circumstances 5.39 was as good as I could get. Pretty happy with that. They are existing variable loans. I did ask about the 5.37 but was told it is for new refinancing customers only. Boo.
The thing is that if I had changed banks I would have had to top up the loans to 80% to avoid LMI (they are X/coll at the moment) and one of the loans had a $1400 exit fee plus the outgoing and incoming fees on the other. This was the easy solution. I think 5.39 is pretty cheap money and it makes my portfolio negative to the tune of $26.50 per week.
That's one bottle of Aldi Voddy per week for 3 years...
I have a relativley low tollerance for risk as I am the only source of income for my family so I'm hoping it is a good move.
Time will tell!
Thanks for everyones input in this thread, it has saved me cashola and helped the SANF.
Cheers!
by the sounds of it your decision to choose to fix it was a good move as it suited your situation, doesnt matter if they get any lower.
and I believe that is a sage view.
Mostly, fixed rates are about managing rate risk ( which is hugely personal, and is probably almost as unique as DNA) and not picking the bottom of the yield curve
ta
rolf
A new low water mark.....
Just checked Pacific Mortgage Group (http://www.pmgonline.com.au) and discovered 2 year fixed at 5.00% and 3 year fixed at 5.19%!!
Also noted :
- Free Application
- Free Valuation
- No Monthly or Annual Fees
Anyone dealt with these guys?
Are these rates a sign of things to come on a broader scale (i.e. more lenders)?
I'd convinced myself that we would see much below 5.38 for 3 year fixed and was ready to move. It's caused me to re-think.
Cheers
China
Just checked Pacific Mortgage Group (http://www.pmgonline.com.au) and discovered 2 year fixed at 5.00% and 3 year fixed at 5.19%!!
Also noted :
- Free Application
- Free Valuation
- No Monthly or Annual Fees
Anyone dealt with these guys?
Are these rates a sign of things to come on a broader scale (i.e. more lenders)?
I'd convinced myself that we would see much below 5.38 for 3 year fixed and was ready to move. It's caused me to re-think.
Cheers
China
Why are you hoping still
You have already made the decision and fixed. What happens from now is immaterial.
What people fail to realise is when they fix their rate so does their reasoning behind why they decided to fix.
Trouble is they may see rates drop further and then play mind games with themselves by looking at how much they think they are missing out on if only they held off fixing, instead of the 'reasons why' they decided to fix in the first instance.
If only they focused on their 'why' they would discover nothing has really changed at all. Instead they focus on the glass half empty.
Success is 80% mindset x 20% Strategy.
I hope this provides some food for thought.
Why are you hoping still
You have already made the decision and fixed. What happens from now is immaterial.
.................
If only they focused on their 'why' they would discover nothing has really changed at all. Instead they focus on the glass half empty.
Success is 80% mindset x 20% Strategy.
I hope this provides some food for thought.
Kudos...GOLD!!
Why are you hoping still
You have already made the decision and fixed. What happens from now is immaterial.
What people fail to realise is when they fix their rate so does their reasoning behind why they decided to fix.
Trouble is they may see rates drop further and then play mind games with themselves by looking at how much they think they are missing out on if only they held off fixing, instead of the 'reasons why' they decided to fix in the first instance.
If only they focused on their 'why' they would discover nothing has really changed at all. Instead they focus on the glass half empty.
Success is 80% mindset x 20% Strategy.
I hope this provides some food for thought.
OK, badly worded with the use of 'hope'. Yes it will and has helped. The only risk I see is if circumstances chaneg dramatically and I have to liquidate some of the loans, but that is unlikely in a 3 yr window.
Also, we ended up getting the 5.37. Win!
5.29
Got an email from my wonderful MB suggesting that BankSA has reduced 2 ur fixed to 5.29%. It's getting better.
Got an email from my wonderful MB suggesting that BankSA has reduced 2 ur fixed to 5.29%. It's getting better
.Unless you believe Wayne Swan when he says that 3.00 is "emergency levels" for the RBA rate.
