Valencia costs about $4.00 but Navel costs about $1.00 at woolies
yeah but them new purple carrots have really confused folks when I use that comparison
t
arolf
Compare - What is your std variable interest rate?
- Thread starter fullylucky
- Start date
yeah but them new purple carrots have really confused folks when I use that comparison
t
arolf
Yes, OP here. Sorry yes I forgot to mention I have a "wealth pack" with CBA which is now $375 a year but gives me free credit cards and discounts on insurance etc. Also 0.7% discount on home loan.
Your AMP loan should be 5.65% right now.
5.4%. (cba)
Hi Aaron, I just spoke to CBA they will offer me 5.4% if I take out my IP loan with them. They will reduce my current Homeloan to 5.4%
I am wondering how come with LVR 76%, loan 400k, I'm paying 5.71% whilst others seem paying much lower variable rate than me
I am wondering how come with LVR 76%, loan 400k, I'm paying 5.71% whilst others seem paying much lower variable rate than me
Because of slippage...ask your broker to get a rate reduction for you.
I am wondering how come with LVR 76%, loan 400k, I'm paying 5.71% whilst others seem paying much lower variable rate than me
You are probably paying much lower than Average Joe.
Just on interest rates.
Fixed rates might be as low say 5.1% but the comparison rate is 6.2%.
A low variable rate might be 5.4% but the comparison rate is 5.5%.
Are fixed rates the best then???? Not going by the comparison rates.
Comp rates dont mean little in reality generally, and even less in the investor space, and even less again with fixed rates, because the revert rates are usually SVRs
One can manually calc a comparison rate, which takes into account any specific or personalised discount or fee base.
Even there, we need to be careful not to compare Carrots with oranges because they are the same colour.
Even "identical" loan products may have totaly different underlying credit policy or security issues which may add or subtract from the "true value" of the product
One of the best products in terms of function and post settlement variations in the broker space is WBCs Rocket loan series. Great product, but underlying that are negatives such as
Sucky serviceability
Self employed ............unless very simple , dont go there
Dual occs over 80 % lvr
On the plus side
IO extensions are literally tick and flick
Limit variations are simple
The LOC is a true capitaliser
Var to fixed is tick and flick
etcetc
So how the heck does one apply something as fluffy as a Comparison rate to that............
ta
rolf
I am wondering how come with LVR 76%, loan 400k, I'm paying 5.71% whilst others seem paying much lower variable rate than me
You are probably getting ripped off, well you can try to switch banks. Some banks offer to pay for the exit fee.
But also consider maybe the bank didn't give you the lowest interest rate because they see you as a higher risk.
if you have a personal loan or bad credit history or they wanted 6 months worth of pay slips but you only provided 2.
Not really, I understand where the rate I'm paying comes from. 6.41% NAB standard with discount 0.70% (applicable at the time I took the loan). Although for new customers they give 0.80% discount, it still doesn't make the rate lower than what you guys are paying here. I thought Homeside has one of the best rates out there (at least when I took the loan that time - in 2011).
In terms of pricing Homeside are mid range I'd say. However, their product and service is pretty good so it's worth it.
