Current Home Loan interest rates

[kamchatsky]

That's a great offer Edison - not moving based on rate when your around that mark.

NAB own Ubank - so it's most likely their offer.

Cheers,
Redom

My ANZ lender said that the only reason it can go this low is because I am writing new loans for my IP and he can ask to adjust the rate for all my existing loans. He said that it is very hard to get IR reduced if there are no new loans to write. So he said if I want even lower IR, I should buy more properties

 

[Redom]

My ANZ lender said that the only reason it can go this low is because I am writing new loans for my IP and he can ask to adjust the rate for all my existing loans. He said that it is very hard to get IR reduced if there are no new loans to write. So he said if I want even lower IR, I should buy more properties

Haha i rekon thats his incentives talking, but yes, i agree its easier to discount on new lending.

 

[Mick C]

Generally the Big 4 are more interested in the large volume loans...ie any loan over $1.2M can def get Sub 4.63 -4.68 with NAB retail ( ie NAB direct not ubank...) similar rate with CBA/WBC and ANZ as well. Once loan is over $2.5M that's a diff story

The smaller banks are interested in low LVR...so anything under 80% or 70%.


Edit: new to bank cust or new money.

 

[thydzik]

ME Bank has cut its five-year fixed rate home loan by 25 basis points to 4.69% per annum.

Their three-year fixed rate loan is at a record low of 4.59%, which brings both their three-year and five-year offerings to the cheapest on the market, according to ME Bank CEO Jamie McPhee.

?The cost at which ME Bank borrows in the fixed rate market has been falling. In turn, we can pass on these savings to customers,? he said.

?Unlike the majors, we?re keen to pass these opportunities on to customers and continue our aggressive position in the home loan market.?

McPhee said that, as well as their competitive rates, they recently made the decision to extend home loan offers to all borrowers, both members and non-members of Industry Super Funds and unions.

APRA statistics saw ME Bank boosting investor lending by 39.1% and owner occupied lending by 11.5% during the 12 months to 30 November 2014.



http://www.propertyobserver.com.au/...il&utm_term=0_a523fbfccb-13d08b215a-245357645

 

[rizzle]

Is 4.95% about right for a 405k lend at 87%? With BankWest

 

[tobe]

yup, about right.

 

[rizzle]

Thanks tobe

 

[organix]

Hi just wondering if this is a good rate through a broker.

600k home loan through ANZ at 4.83%, LVR about 40% due to using a guarantor.

Any one able to get any lower for a similar amount or is there any other banks that might offer a significantly lower rate?

Thanks!

 

[nmlheja]

Does any one know if there are loan available at 90% lend with no LMI?

 

[Rolf Latham]

Does any one know if there are loan available at 90% lend with no LMI?

http://somersoft.com/forums/showpost.php?p=1263633&postcount=74

ta

rolf

 

[Rolf Latham]

LVR about 40% due to using a guarantor.

the "actual " lvr will be 80 % usually, even though the guarantor property is worth a bunch more, the gurantee is limited to the 20 or 25 % used to cover the balance of the loan with 80 % usually coming from the borrowers prop

ta
rolf

 

[Redom]

Does any one know if there are loan available at 90% lend with no LMI?

Depending on your profession nmlheja. If your a doctor, its pretty common across plenty of lenders.

Westpac has the widest range:

• They can include it if your a CA/Lawyer/Engineer. Will need to be on an income of 150k+ and working in the industry.
• Includes pharmacists as part of the medico package.
• If your some type of a superstar (celebrity!).

Cheers,
Redom

 

[Redom]

Hi just wondering if this is a good rate through a broker.

600k home loan through ANZ at 4.83%, LVR about 40% due to using a guarantor.

Any one able to get any lower for a similar amount or is there any other banks that might offer a significantly lower rate?

Thanks!

Its not too shabby - can get a few bp lower from ANZ.

 

[nmlheja]

Westpac has the widest range:

• They can include it if your a CA/Lawyer/Engineer. Will need to be on an income of 150k+ and working in the industry.
  
  
  Thanks Redom
  I am in the accounting profession, does bank include rental income for $150 k or it has to be from the accounting profession?

 

[Liverpool St]

ME Bank has cut its five-year fixed rate home loan by 25 basis points to 4.69% per annum.

Their three-year fixed rate loan is at a record low of 4.59%, which brings both their three-year and five-year offerings to the cheapest on the market, according to ME Bank CEO Jamie McPhee.

?The cost at which ME Bank borrows in the fixed rate market has been falling. In turn, we can pass on these savings to customers,? he said.

?Unlike the majors, we?re keen to pass these opportunities on to customers and continue our aggressive position in the home loan market.?

McPhee said that, as well as their competitive rates, they recently made the decision to extend home loan offers to all borrowers, both members and non-members of Industry Super Funds and unions.

APRA statistics saw ME Bank boosting investor lending by 39.1% and owner occupied lending by 11.5% during the 12 months to 30 November 2014.



http://www.propertyobserver.com.au/...il&utm_term=0_a523fbfccb-13d08b215a-245357645

The word on the street is that ME will lower their variable to 4.99 in February

LE

 

[thydzik]

3.75% 1 year fixed

https://www.peoplecare.com.au/cfcu

 

[Peter_Tersteeg]

3.75% 1 year fixed

https://www.peoplecare.com.au/cfcu

5.74% comparison rate.

 

[thydzik]

5.87% comparison rate.

that's due to the comparison being over 25 years and going to 5.84% variable after the 1st year.

no issue switching after the first year.

 

[Peter_Tersteeg]

No doubt you can switch. Their basic variable rate is 5.26% (which is about 0.4% higher than the market). The fully featured package with offset account is 5.37%.

They have some other cheaper loans "For new money only" so you wouldn't qualify for this.

3.75% is a loss making proposition for the lender. When lenders offer rates this low they fully understand where they'll be making their money and that tends to be in the switching fees and higher rates after the intro period.

They also know that most people won't switch until something reminds them to do so.

 

[Brady]

that's due to the comparison being over 25 years and going to 5.84% variable after the 1st year.

no issue switching after the first year.

3.75% 1 year fixed

https://www.peoplecare.com.au/cfcu

SMOKE & MIRRORS...

I would suggest looking further into the costs involved.

Loan Application Fee $500 (includes 2 splits)
Each Split After $150
Solicitors Preperation Fee - at cost
Valuation fee - at cost
Seach fee - at cost
Loan top up - up to $250
Split request $500
Switching fee $500
Redraw fee online $15
Assisted redraw fee $30

Now please...