Fixing LOC Interest Rate??

[Rixter]

Rolf,

Can you or other brokers tell me if Westpacs Equity Access Loans Plan 2 (LOC) can have the Interest Rate fixed?

Thanks

 

[Qlds007]

Rixter

No unfortunately it can't be fixed.

As far as i am aware there is only 4 lenders who will allow a fixed rate on a LOC.

 

[Rixter]

Rixter

No unfortunately it can't be fixed.

As far as i am aware there is only 4 lenders who will allow a fixed rate on a LOC.

Who are they?

 

[Rolf Latham]

Hiya

I know of 2 that offer Psuedo LOC, like The Rock - mainly seem to be fuly drawn term loans with Offset attached.

Adelaide bank have a similar beastie - yet to try it though.

ta

rolf

 

[Qlds007]

Also St George and Savings & Loan CU both with similar LOC products

 

[Mr Ed]

Rixter,

Unless WBC have changed lending policy (which I heard was on the cards), and you have a LoC with them & want to fix the loan, it needs to be re-origionated, ie run back through credit with a full loan appln done and new docs issued.

This goes for fixing or converting to a term loan

Issue if you have no servicibilty left....

 

[Rixter]

Rixter,

Unless WBC have changed lending policy (which I heard was on the cards), and you have a LoC with them & want to fix the loan, it needs to be re-origionated, ie run back through credit with a full loan appln done and new docs issued.

This goes for fixing or converting to a term loan

Issue if you have no servicibilty left....

I already have 2 LOC's with WBC. What if I just want to fix the Interest Rate on them for a period of time. ie say 3 years??

 

[Mr Ed]

Full loan application

Give 132558 a call and see what they say or get your broker engaged.