Surprised at rate

One of our loans is coming off an initial 3 year fixed interest interest only loan with St George. Surprised at the standard home loan rate of 5.74%

It was to revert to P&I at 5.74% as at this months end with a balance of around $270k

We also have another associated loan as part of the construction for $370k, this has always been variable interest only but was at around 4.94% at July last year

The high rate seems odd
 
One of our loans is coming off an initial 3 year fixed interest interest only loan with St George. Surprised at the standard home loan rate of 5.74%

It was to revert to P&I at 5.74% as at this months end with a balance of around $270k

We also have another associated loan as part of the construction for $370k, this has always been variable interest only but was at around 4.94% at July last year

The high rate seems odd

call them, they will drop to mid 4%'s instantly
 
One of our loans is coming off an initial 3 year fixed interest interest only loan with St George. Surprised at the standard home loan rate of 5.74%

It was to revert to P&I at 5.74% as at this months end with a balance of around $270k

We also have another associated loan as part of the construction for $370k, this has always been variable interest only but was at around 4.94% at July last year

The high rate seems odd

Sounds like you're just reverting to the standard variable rate.

If you've already got the pro pack (advantage package)- you should be receiving a discount off that rate. With that level of borrowing you should be asking for anywhere between 1.1 to 1.3 off the SVR.

Cheers

Jamie
 
Back
Top