Today's Best Rate
- Thread starter Nicko
- Start date
watch the exit fees and other costs not included in comparison rte ( val costs etc).... other than that pretty cheap wo't be there for long
I fixed with OneDirect 8.19%... first time I used an online bank an was impressed!
I fixed with OneDirect 8.19%... first time I used an online bank an was impressed!
Hiya
Id like to add................what rate can u settle on
...........often not the same as the loss leader thats advertised.
ta
rolf
Id like to add................what rate can u settle on
...........often not the same as the loss leader thats advertised.ta
rolf
Unfortunately, these rates are changing day-to-day. I would hope any rates posted gere would have low/no entry, on going and exit fees.
My Rate: 7.99% NO IN, NO ONGOING and something like .8% of to discharge after one year
Better Choice: 8.02% NO IN, NO ONGOING, LOW EXIT (one of theor products has a fixed $1,000 exit fee after the first two years.
My Rate: 7.99% NO IN, NO ONGOING and something like .8% of to discharge after one year
Better Choice: 8.02% NO IN, NO ONGOING, LOW EXIT (one of theor products has a fixed $1,000 exit fee after the first two years.
I'll tell my wife that! She may even have done your loan!!!!!
Better Option
Better Option is actually a broker -- I emailed them asking who they are funded by and they said various banks like Suncorp, AMP etc -- so the odds of them being a direct lender are nil.
Oops, ignore that one, you were talking about Better Choice... Hard to tell with the 100s of names out there
Better Option is actually a broker -- I emailed them asking who they are funded by and they said various banks like Suncorp, AMP etc -- so the odds of them being a direct lender are nil.
Oops, ignore that one, you were talking about Better Choice... Hard to tell with the 100s of names out there
How much early repayment fee at PMG ?
Can't find on their web site ... Or is it a secret ?
For how long have you fixed it ? 1 or 3 years ?
They have 8.29% 3-yr fixed rate now ...
2 years...not sure why, just thought 2yrs wuld be enough to get to top of cycle and start to come down... also have PPOR that I turned into an IP 4 years ago that I will be selling CGT free which i intend to clear some debt with
How about 8.25% with no DEF?
Also keep in mind who actually funds the loan. There is no funder called "Blue Sky" or "My Rate". The funds for these loans come from third parties.
In some cases, these funders have been affected by the credit crunch (eg. Macquarie). This may affect your future rates, regardless of how low they may be when you set up the loan.
Also keep in mind who actually funds the loan. There is no funder called "Blue Sky" or "My Rate". The funds for these loans come from third parties.
In some cases, these funders have been affected by the credit crunch (eg. Macquarie). This may affect your future rates, regardless of how low they may be when you set up the loan.
Hiya
Id have to agree with Pete.
The product he has in mind has at least some sort of "competition" guarantee, whereas xyz home loans or bank can simply raise their rates yet again independentn of the RBA, where that increase is excused by increased cost of funds............been happening almost every week,and not only with wee funders, but even major lenders like NAB/Homeside Last week.
Ta
rolf
Id have to agree with Pete.
The product he has in mind has at least some sort of "competition" guarantee, whereas xyz home loans or bank can simply raise their rates yet again independentn of the RBA, where that increase is excused by increased cost of funds............been happening almost every week,and not only with wee funders, but even major lenders like NAB/Homeside Last week.
Ta
rolf
Hiya Nicko
No schemers...........just reality
try buying something for 10 dollars and then selling it for 9.50...........one cant stay in business if thats your core business.
Another middle range lender went out the door this week, Maxis Loan, great supporters of the independent market, had to hand up their boots, and there will be many more to follow
All of the mainstream lenders have increased variable rates above RBA increases, some as recently as today ( STG now up to 9.47 for SVR )
Today, more than ever, the variable rate you settle on, vs what you will pay to stay the race may be very different .
Pete has an answer with that product hes on about in the posts above
Part of the challenge is encapsulated in that TV ad of the "Annabelle principle" AAMI insurance I think.
ta
rolf
No schemers...........just reality
try buying something for 10 dollars and then selling it for 9.50...........one cant stay in business if thats your core business.
Another middle range lender went out the door this week, Maxis Loan, great supporters of the independent market, had to hand up their boots, and there will be many more to follow
All of the mainstream lenders have increased variable rates above RBA increases, some as recently as today ( STG now up to 9.47 for SVR )
Today, more than ever, the variable rate you settle on, vs what you will pay to stay the race may be very different .
Pete has an answer with that product hes on about in the posts above
Part of the challenge is encapsulated in that TV ad of the "Annabelle principle" AAMI insurance I think.
ta
rolf
If a product has LOW/NO IN and OUT fees, you can shift around.
I currently have about $590,000 loans on $950,000 valuation all tied up with RAMS (now RHG) so I am looking to scoot out of there as my rates vary up tp 9.5%.
If my "new" lender accelerates their rates beyond "reason" the LOW OUT fees wil come in handy to jump boat.
I therefore don't care if its NAB or FREDS MORTGAGE. I just want to borrow the money at cheap rates and get out of there if they "abuse" my custom!
Any tips greatly appreciated
Oh, and PMG are still at 8,19% - an that's their comparison rate (but expensive DEF)
I currently have about $590,000 loans on $950,000 valuation all tied up with RAMS (now RHG) so I am looking to scoot out of there as my rates vary up tp 9.5%.
If my "new" lender accelerates their rates beyond "reason" the LOW OUT fees wil come in handy to jump boat.
I therefore don't care if its NAB or FREDS MORTGAGE. I just want to borrow the money at cheap rates and get out of there if they "abuse" my custom!
Any tips greatly appreciated
Oh, and PMG are still at 8,19% - an that's their comparison rate (but expensive DEF)
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