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Best rates I've got are
3.96% variable (no offset, but fees waived)
4.4% variable (offset, fees waived) plus 0.4% cash back. So on a $1m loan get back $4000.
Current Bank:CBA
Current Interest Rate: 4.7% SVR
Total Lending is $845,000 with 2 IPs
LVR <70%
So I just got passed on an offer from my broker.
Bank:NAB
Interest Rate: 4.32%
Proposed total lending: $1,040,000 (Top up of $195,000)
LVR @ 80%
+1st year package fee waived
+$1000 cash back bonus
Should I be able to get a better rate than this?
Thanks
a CBA branch manager just called me, saying CBA is now offering $750 cash back if you refinance loan to them.
Current Bank:CBA
Current Interest Rate: 4.7% SVR
Total Lending is $845,000 with 2 IPs
LVR <70%
So I just got passed on an offer from my broker.
Bank:NAB
Interest Rate: 4.32%
Proposed total lending: $1,040,000 (Top up of $195,000)
LVR @ 80%
+1st year package fee waived
+$1000 cash back bonus
Should I be able to get a better rate than this?
Thanks
CBA can take your rate down to 4.35% and CBA from an investors point of view would def be a better fit...seeing that you have 2 IP...im gonna presume your an active investor?
Without knowing your financial position and long term goal....i would say staying with CBA would make sense...esp if they will offer you a similar rate of 4.35% + give you equity too.
Note there is a cost to refinance.
depending on what your goals are, the CBA offer may be a much better thing long term.
ta
rolf
Thanks for your comment.
Why is it that I should consider my short and long term goals as a factor in deciding to go with NAB or CBA?
I was advised to stay with CBA despite the fact that NAB is able to offer a more competitive rate and is able to cover most of my refinancing cost.
Would retaining a portfolio with CBA be more preferable than a portfolio with NAB?
Note this isnt having a go at you personally, its a VERY VERY common thing I see.
rolf
My current situation is that I've spoken to a few brokers.
.
Hi - not sure if anyone out here can offer advice - I've been talking to my broker but not sure if "the best deal" we can get from CBA is accurate.
Long term CBA customer (dollarmites anyone?) - not that that means anything I guess...
Three loans across two properties (PPOR and IP)
LVR 81%
Total loans $1.063M
Current rate: 4.6%
Offer from bank to go to 4.5%. On wealth/MAV package. Not keen to tip extra $ into bring LVR to 80% - will likely move into IP property later and make PPOR IP.... want to maximise debt against it.
Seems like there have been many offers for better rates - is 4.5 what I should expect or should they go better? (based on my reading in this and other threads).
TIA