NAB Discounted Rate 4.68% (Principal & Interest)
- Thread starter beachy
- Start date
A rate is pretty meaningless without any context, unfortunately. If that's what they're offering you, I'd speak to a broker about ALL your options rather than just accepting this one for a couple of reasons -
*as an investor it's unlikely P&I is in your best interests
*NAB is not usually a great choice if you're early on in your portfolio.
It doesn't seem like a particularly competitive rate, but it will depend on LVR, loan amount etc.
*as an investor it's unlikely P&I is in your best interests
*NAB is not usually a great choice if you're early on in your portfolio.
It doesn't seem like a particularly competitive rate, but it will depend on LVR, loan amount etc.
Hi
Hi,
Through the broker channel i got a rate even better then that and my loan amount was only 250K....
Hi,
Through the broker channel i got a rate even better then that and my loan amount was only 250K....
Is this a home loan or commercial loan, since you mentioned 'developer'?
Agreed. Fantastic for a commercial rate, but a sub-par for a residential rate.
This is where I saw it - down the bottom
Principal & interest rate too
http://stevetaylor.com.au/wp-conten...r-Lot-1242-Stone-Ridge-Blvd-PI-and-Fixed1.pdf
Principal & interest rate too
http://stevetaylor.com.au/wp-conten...r-Lot-1242-Stone-Ridge-Blvd-PI-and-Fixed1.pdf
Keep in mind that they're quoting this on a brochure designed to demonstrate the cashflow figures for the property they're selling (coincidently the numbers are flawed because they're not considering all the costs of ownership).
4.68% isn't anything special for the quoted price point of $500k+. They're really just quoting NABs standard deal for this price point. Given it's an add, they're really just quoting something almost everyone will be able to get (assuming the qualify for the loan).
4.68% isn't anything special for the quoted price point of $500k+. They're really just quoting NABs standard deal for this price point. Given it's an add, they're really just quoting something almost everyone will be able to get (assuming the qualify for the loan).
Oh ok - I thought you were asking about rates for a development. House and land is pretty vanilla - it will just be standard resi rates. Petes post above answers it perfectly.
Cheers
Jamie
They advertisement you're reading is bascially quoting you some cash flow figures based on published interest rates from one of the lenders. They're quoting the rates for cash flow purposes, not because it's a good rate (which I think is what the real question of the original post is).
The developer can't quote you any more specifically on the rate because they're no licensed to, they're simply quoting something that sounds good which everyone will be able to get.
The response to this post can be boiled down to the rate offered is pretty average, but put in context, it's the right rate to quote. You'll almost certainly get a better deal if you organise your finance through one of the brokers.
The developer can't quote you any more specifically on the rate because they're no licensed to, they're simply quoting something that sounds good which everyone will be able to get.
The response to this post can be boiled down to the rate offered is pretty average, but put in context, it's the right rate to quote. You'll almost certainly get a better deal if you organise your finance through one of the brokers.
