I have over a million dollars loaned through Aussie home loans at an interest rate of 5.03%. As I was preparing a per approval for a further million dollar loan for a new property my broker advised the best rate I could get was 5.78%.
I enquired why the rate was considerably more than my current rate and he advised the rates I received before the GFC were no longer possible to achieve.
I just can't believe why I'd need to pay a higher rate. Can any brokers comment on this and what interest rate should I expect to pay for a loan of a million dollars for an IP?
I enquired why the rate was considerably more than my current rate and he advised the rates I received before the GFC were no longer possible to achieve.
I just can't believe why I'd need to pay a higher rate. Can any brokers comment on this and what interest rate should I expect to pay for a loan of a million dollars for an IP?