Market Rate Loans

[spooky]

Hi Guys
can anybody provide further info on "Market Rate Loans" such as that offered by HSBC

I would like to know what the pitfalls might be etc etc

I think they might be know by another name

Cheers

 

[westminster]

I didn't even know we had them here. They are popular in the UK.
sorry I'm not sure of the pitfalls I think they sound pretty good providing their terms are good.

 

[Mick C]

It's commonly known as - Bill rate, swap rate or 60/90 days bill rate.

In Aus, it's only generally available for commercial and business loans only.

 

[Aaron_C]

Pitfalls are annual reviews.

 

[Qlds007]

Yes very popular in the UK.

In fact i am over here sourcing property for my Australian investor clients.

Just had one approved yesterday for a client on a property we have purchased for them and is approved at 2.25% variable.

Wouldnt we love these sorts of rates in Australia.