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Don't just chase rate. In 2 years time do you really think nab will still be the cheapest of the majors? No me thinks they will grab market share then reprice their book by putting their standard rates to the same levels as the other majors.
What I am trying to say basing your decision on who has today's best rate is not the best stratergy for the long term. Do you bank with nab? What's their service like? Personally I wouldn't take a mortgage with them I don't trust their service standards.
This is for a 450,000 property and I'm considering the following offers:
Westpac professional package 90% LVR with no LMI with 0.7% discount
NAB professional package 80% LVR at Interest only plus remaining 10% at P+I (paid down in 3 years) again with no LMI.
I do have savings to pay the 20% if required as my intention is to positively gear the property within the family trust.
Any thoughts would be appreciated!
If it were me and you wanted a face to face in vic then I'd track down one of the vic brokers on the forum - maybe Jane - aka Buzz. Shes a hell of a good broker (actually shes more than just a broker). http://www.somersoft.com/forums/member.php?u=105
U are considering these written loan offers, or these are baiters ?
My immediate thoughts are , wbc dont do that sort of thing for Company loans normally ,and the last one we did via NAB medfin, they promised the earth in terms of lmi waivers for a strong deal etc blah, and when push came to shove, even with LMI they wanted PI................
I suppose what Im getting at, is there is much talk, and sometimes ( often ?) not much action
ta
rolf
westpac do have a deal with about 15 accountancy firms where they will waive LMI upto 90% for their clients if buying in a trust or pty ltd and meet certain other criteria