Macquarie Bank rate cut?

T

triton07

Hi all,

Can anyone tell me if Macquarie Bank are or will be applying the rate cut of .25 following the major banks rate cuts this week?

Has anyone heard that they will be doing soon than later?


Cheers:)
George
 
Maybe for full doc, but my no-doc is still at a lovely 10.61%.

They even sent a letter a couple of days ago to tell me that it hadn't changed.
 
Hi, don't want to hijack...but don't want to flood the forum with every single lender either :)

Are Adelaide Bank (full-doc) reducing rates??

Cheers, Chris
 
As far as I am aware

macq is reducing rates by 25 across all products

ABL has passed on the 25 on full doc to mortgage managers, so Id assume direct has as well, have a call in to my BDM


ta
rolf
 
I have just received 25th August dated letter saying "my Saver Express Standard Variable Rate has changed to MM One Express Variable Rate.My margin (discount) will be 1.25 % per annum.The result of this change is that the rate you are currently paying remains unchanged at 10.05% ."It is Lo Doc.
Cheers
 
ianvestor said:
Curious whether you read my post Rolf. Did you mean to say full-doc macq or was that letter I received from them just a hoax?! Maybe my cut is just 'delayed' :)
Click to expand...

I'm full doc. Letter I received a day ago mentioned something about a name change and specifically stated "no change" to existing rate.

Hoping that the letter content was planned before the RBA announcement....
 
I'd be interested to hear if RHG are decreasing their rates also!

I have also noticed that Bankwest have not yet cut their variable rates. Surely they will pass on the 0.25% p.a.!
 
Last McBank statement received today to 31st AUGUST shows
Opening rate of 10.60%
Current Rate of 10.75%

This one was slightly higher being sub $250k
 
My latest Mac statements haven't shown any change. I've just refinanced out of Macquarie to CBA - Mac's rate 10.32%, CBA 8.74%. The cost of refinancing was about $6000. It may be less after refund of LMI and possibly termination fees.

Mac have lost customers, like me, for life.
 
I rang Macquarie to enquire about my letter. I was advised that it is a case of bad timing that the letter came out at the time of the RBA cut and that the rate stated on the letter is the rate before the 0.25% reduction that will come into effect on the 12th.
 
RHG rates for new loans have dropped 25 basis points-see interest rates section on www.rhgl.com.au

Also I just telephoned RHG who advise interest rates on all existing variable loans (including lo doc loans) have been reduced by 25 basis points as of 8 September 2008.

Am now looking at 10.48% p.a. on my RHG 85% lvr lo doc loan.

Ajax
 
Just got a letter in today's mail from Macq Bank saying 0.25% reduction on my low docs (80% LVR) went thru on 12 September 2008. :)
IR from them now sitting @ 9.8%
 
My Macquarie loans have gone down by .25% but still too high at 10.07%. I'll be refinancing to a bank whose interest will be 8.69% variable and 8.39% fixed for one year.
 
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