Whats your interest rate?
- Thread starter IFBB
- Start date
6.60% over two properties before any cut from yesterday.
Looking to squeeze more from this with either a fixed rate combo or more borrowings very shortly for a new ppor
Looking to squeeze more from this with either a fixed rate combo or more borrowings very shortly for a new ppor
And with their ever increasing margin, they giveth with one hand and taketh with the other....
Hypo: If they increase their margin again this month then shouldn't that discount increase too...?
Oh yeah....sorry were talking banks here...
Just spoke to them, and have now switched from the wealth package to a no-fee package.
Differences are that i dont have to pay the annual $350 fee as i did in the wealth package, and that the rate is now 6.86 instead of 7.06. That little phone call has saved me about $500 a year, so im not complaining. With the pass down of rates, im hoping to sit somewhere between 6.65-6.7, and from 6 weeks ago being at 7.31, im quite content.
Differences are that i dont have to pay the annual $350 fee as i did in the wealth package, and that the rate is now 6.86 instead of 7.06. That little phone call has saved me about $500 a year, so im not complaining. With the pass down of rates, im hoping to sit somewhere between 6.65-6.7, and from 6 weeks ago being at 7.31, im quite content.
We have just negotiated the same 6.56% variable rate with Westpac - actually we signed up early last month when the deal was 6.81%. We just walked into the branch and showed them a variable rate of 6.81% being offered by Suncorp to new customers. Suncorp were actually our bank at the time but apparently we didn't qualify for that rate with them as we weren't 'new' customers. The November rate cut a few days later made it 6.56%
. It's a professional package with offset, etc.We have a rate of 6.72% with NAB who are currently trying to work toward a further 0.05% so that our rate will be 6.67%. This is a big deal apparently and bank manager is unsure it will be approved. Currently have a 0.75% discount, if the current 0.05% goes through it brings it to a total discount of 0.8%.
We have over $700k in borrowings and our LVR is between 65% and 71% (consturction and reno to latest prop at the moment so has not been revauled yet, so that's an estimate, with best and worst case scenario).
do you think that the rates offered by NAB are fair? I've seen the suncorp offer at 1.03% and it is tempting. What I am not sure of is if there will be any stamp duty etc…. if we refinance.
And then I read here of all the great rates you have and wonder how I can get the same!! About a year ago I spoke to a broker who had said that he could not help me cause we had the best rate we could get, and that was when we nly had the 0.7% discount.
any comments/suggestions would be great!
Thanks
We have over $700k in borrowings and our LVR is between 65% and 71% (consturction and reno to latest prop at the moment so has not been revauled yet, so that's an estimate, with best and worst case scenario).
do you think that the rates offered by NAB are fair? I've seen the suncorp offer at 1.03% and it is tempting. What I am not sure of is if there will be any stamp duty etc…. if we refinance.
And then I read here of all the great rates you have and wonder how I can get the same!! About a year ago I spoke to a broker who had said that he could not help me cause we had the best rate we could get, and that was when we nly had the 0.7% discount.
any comments/suggestions would be great!
Thanks
1 year ago is a long time ago right now as lenders became very compeditive earlier this year. You'd easily qualify for a 1% discount with several lenders.
Reaslistically though, I think this thread's a fairly sad discussion. Every rate quoted so far is easily beaten for the right borrower with the right lender by almost any broker. The real question comes down to making sure you understand what the lenders' parameters are, what you qualify for, and what features are 'needs' vs 'wants'.
I am the wrong borrower for virtually any lender so our high rate is the best we could get. Our goal at the moment is to pay the house off and see if we can convince another bank that hey look, we just paid our house off 20+ years early, we're not a risk, honest. And if that fails, save cash for the next project.
the good thing is if your paying it off so fast the interest rate difference isnt as much of a problem
yeah it might cost a few more grand but least you got the loan right..
6.7 % ANZ Breakfree package for total loans under $500,000
Your bank manager is no good. I know for a fact you can get lower with NAB with less loans.
Just thought I'd resurrect this thread.
Currently got a rate of:
5.94% variable with StG on about $2.7M @ 71% LVR
6.05% variable with ANZ on about $2.8M @ 62% LVR
Interested how this measures up with others.
The StG rate was negotiated after a threat to walk to another bank after they fluffed around with a refinance and new purchase.
Currently got a rate of:
5.94% variable with StG on about $2.7M @ 71% LVR
6.05% variable with ANZ on about $2.8M @ 62% LVR
Interested how this measures up with others.
The StG rate was negotiated after a threat to walk to another bank after they fluffed around with a refinance and new purchase.
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