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If we go through brokers, does the banks take that into consideration when reducing interest rates?
If we go through brokers, does the banks take that into consideration when reducing interest rates?
I am 90LVR on 1.5m portfolio
Cba wouldn't even budge on under 1%
Ive been advised to refinace all equity using part as deposit and balance in offset account as emergency and to reduce interest on PPOR.
thanks again
Going through broker or not has no effect on what you can be offered.
A good broker will negotiate rate on your behalf though, and use your existing total as primary reason why you should get it.
Corey got me down to mid 4's with Westpac
Thank you Redom - lots of information.
For someone starting out, and on a lower then "median" income - this is a very inspiring thread!
Cheers - will be in contact once things are more organised!
If we go through brokers, does the banks take that into consideration when reducing interest rates?
I am 90LVR on 1.5m portfolio
Cba wouldn't even budge on under 1%
Thanks Redom! This is a great thread.
How does IO vs P&I fit into this story?
Sorry to bump and older thread , but I wanted to ask if your in a position where you have surplus and keep managing to save for deposits using cash will the banks still lend to you even if you hit that invisible lending wall?
It depends, but if your deposit is big enough, it will allow greater cashflow which will enhance serviceability.
If you're using small cash deposits and using big LMI, not so much.
How does a big deposit enhance serviceability? Cashflows both ways it is usually out with a new property at least before tax deductions. I am not sure what you mean by cash but I have bought 2 properties by redrawing existing funding. It did not enable me to increase my loans even though it put me in a better financial position.
Which maybe didn't really answer the original question and was just me going off on a tangent