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Say hypothetically, if someone wants to get out from the fixed rate in 3 years time and at that time, the interest rate has gone up by 2%. Would they still incur a breakout cost?
and I will be taking on this 5 year fixed rate @ 4.89% (have it approved already)
4.99% or 4.89% ?
Thanks
This could be the cheap money that is coming from European banks as the ECB has negative interest rates.
There was talk of cheap money coming and that Australian Banks won't need our savings for loans. Could be even lower interest rates coming? Cash in bank will be worth less so better off investing some money in high yield shares for a better return.
this is the question. with the foreign lenders coming in and the eventual realisation that aussie IRs cannot defy gravity forever, it would suck to be locked into a 5 year fixed rate
4.99 is with wealth package discount. Anyone can ge it. I got an extra 10bps off
I am wondering whether to fix a loan. The reasons being that we won't sell that house for another 5 years and that fixing gives some certainty. But if rates fall further, we may regret.
So when these foreign lenders are coming? Reckon I have missed some news.
Once fixed 100%, can you revalue and draw increased equity as LOC/variable/fixed later on during the fixed term? Can you get second mortgage with another bank if the current one won't lend you more?
Just setup a new loan still secured against same property
Once fixed 100%, can you revalue and draw increased equity as LOC/variable/fixed later on during the fixed term? Can you get second mortgage with another bank if the current one won't lend you more?
4.99 is with wealth package discount. Anyone can ge it. I got an extra 10bps off
Can you share how you got 4.89% from CBA?
what is size of your loan to fix? Was it negotiated after CBA lowered their 5yrs to 4.99%
Considering that 5yrs is quite a long time, I would think hedging bets on a 2yr, then a 3yr (in 2 yrs time) fixed would yield a similar rate over the same term. Pros/cons?
*I have never fixed a rate ever.
pinkboy