BOQ interest rate

[Rickduff]

Good morning everyone.

I am looking at refinancing my BOQ loan up to 90% and will use the cash to pay for a kitchen reno.
They are saying the best rate they can do is 4.71% which seems comparable to the big banks but all the other lenders are under.
Does that rate seem right for a 90% lend or would I be better off refinancing elsewhere? I already have lmi credit with BOQ as well.
Any help is very much appreciated.

Cheers
Rick

 

[Rixter]

Putting aside the IR, as that's just one component, are you happy with the other remaining one's that you will be governed by within the loan? How do they compare with other lenders?

 

[Jess Peletier]

Without knowing any context it's difficult to say. Often if you've paid LMI it seems wise to reuse it, but when considering longer term goals (and other existing circumstances) it may not be the best choice.

Best to speak to someone about your big picture rather than just one aspect in isolation.