More hours though. Any reason why you used ANZ?
well there are 2 mainstream lenders that have the latest self employed year..........
one is ANZ the other is another similar yucko lender .......STG
Choose your poison : )
ta
rolf
Which bank r you with and what interest rates are you currently getting?
- Thread starter willz
- Start date
well there are 2 mainstream lenders that have the latest self employed year..........
one is ANZ the other is another similar yucko lender .......STG
Choose your poison : )
ta
rolf
I told a bit of a porky there , the properties were bought with vendors finance and the vendors held a 2nd mortgage, so I had to get a contract drawn up offering the vendors increased repayments and an extension of the term to get them to agree to release the mortgage. While the Filipinos are nice and very pleasant and try to be helpful, unlike the rude Indians. If you have dealt with them over phone bills you would find it takes a long time and effort to get some sense out of them sometimes. It is hard enough getting sense out of the local manager who should better understand the situation.
you are a smart cookie rolf. Now if you remember who I work for, you'll know why I chose ANZ...
306k 5.23 % @ .9 discount.
not happy with azn customer service, they laugh at me when i say i want to borrow another ip.
went to NAB with same paperwork. they said 3 weeks they can approve me 780k !! where azn wouldnt approve 200k !! ..
i am changing banks soon. i know there are thousands of angry customers on azn facebook page. dont see anyone else making anti bank page on any other bank accept azn.
plus i dont want to support a bank who ship aussie jobs overseas because of profits... greedy azn i hope they go and die !! bring on new competion credit unions etc... more please...
not happy with azn customer service, they laugh at me when i say i want to borrow another ip.
went to NAB with same paperwork. they said 3 weeks they can approve me 780k !! where azn wouldnt approve 200k !! ..
i am changing banks soon. i know there are thousands of angry customers on azn facebook page. dont see anyone else making anti bank page on any other bank accept azn.
plus i dont want to support a bank who ship aussie jobs overseas because of profits... greedy azn i hope they go and die !! bring on new competion credit unions etc... more please...
Most of my banking is with Cba. Not sure of the exact rate but it is within points of what's being said here (around 5).
I'm with Cba because I have a very good manager. One person who I speak to and have personal contact details of. She is proactive with my accounts and is helpful. Plus she approved my loan. She worked hard to understand the position and find a way to structure it so it would work.
The rate falls well down on my list of priorities.
Blacky
I'm with Cba because I have a very good manager. One person who I speak to and have personal contact details of. She is proactive with my accounts and is helpful. Plus she approved my loan. She worked hard to understand the position and find a way to structure it so it would work.
The rate falls well down on my list of priorities.
Blacky
as it does with most larger volume investors.
The human interaction and finding someone that............
Cares AND Knows what to do is pretty rare
the capacity to get the money in an efficient way far outweighs a great rate thats impossible or very hard to get settled
ta
rolf
Ohhh god, this thread makes me cringe..!
I'm stuck at rates in the 6's and 7's.. If I had stayed variable I'd be positive cashflow in the true sense of the word and maybe not working so hard
I'm stuck at rates in the 6's and 7's.. If I had stayed variable I'd be positive cashflow in the true sense of the word and maybe not working so hard
Funny you should say that, ANZ were pricks to us too, broker says they're one of the worst banks for any investor and there's no need to go anywhere near them if you're semi serious about buying property, let alone growing a portfolio
I concur. I only use them if there is no other option. So far, there always has been
NB: They actually used to be a decent bank but they have dropped the ball over the past few years.
They have thier niches, single year tax return for SE, FTB for kids over 13, 3 months casula employment, upfront vals, upfront rental vals, negative gearing and a YTD calculator in their serviceability, still doing 97% for investment where the other mortgage insurer caps to 95%.
Not that Im an apologist for ANZ at all, just there are a lot of investors ANZ is the exact right fit for, rather than 'the worst bank for investors'.
Not that Im an apologist for ANZ at all, just there are a lot of investors ANZ is the exact right fit for, rather than 'the worst bank for investors'.
I don't mind them (ANZ). They can be a pain - but that goes for all banks.
They're reasonably competitive (but aren't transparent on their pricing which is annoying) and their cashout policy at relatively high LVRs is pretty good. They turn around most deals fairly quickly and the b/free package is a decent pro pack.
I get annoyed that small stuff is deemed credit critical - and I don't like getting calls from assessors on the other side of the world at 9pm on a Friday night.
There are a few other lenders above ANZ that leave me banging my head against a wall on a more regular basis.
Like always though - just depends on where the deal fits best.
Cheers
Jamie
They're reasonably competitive (but aren't transparent on their pricing which is annoying) and their cashout policy at relatively high LVRs is pretty good. They turn around most deals fairly quickly and the b/free package is a decent pro pack.
I get annoyed that small stuff is deemed credit critical - and I don't like getting calls from assessors on the other side of the world at 9pm on a Friday night.
There are a few other lenders above ANZ that leave me banging my head against a wall on a more regular basis.
Like always though - just depends on where the deal fits best.
Cheers
Jamie
I'd suggest most lenders are a bit slow with EOFY this week.
As far as ANZ goes - rates are jumpy but still their val policy is good - especially with the modelled estimates at 80%.
Int only debits to other bank's accounts continue to be a pain in the bum and having to push money to the anz acount can be a hassle if you're running a cash hub.
As far as ANZ goes - rates are jumpy but still their val policy is good - especially with the modelled estimates at 80%.
Int only debits to other bank's accounts continue to be a pain in the bum and having to push money to the anz acount can be a hassle if you're running a cash hub.
they have their ups and downs like most lenders from time to time. As others have mentioned they have niche policies so where the deal fits you have to put it!
I owe 305k, i ring up anz and ask for better rate every 3-4months. so 5.23 they said is the best they can do atm for such a low mortgage. huh since when is 300k a low mortgage ? i thought thats what most average australians are owing the banks ? or they banks seems to have a higher expectations that people should owe them more money in order to get better rate like 500k +++ ?
Generally speaking ( standard discount- without any negotiation or pricing request) the major 4 banks and some of the medium tier banks ( suncorp, citibank) are looking for loans over $500,0000 ( single or combine) before they start offering >1% discounts.
Smaller banks and credit union works best in the sub $150,000 - $400,000 loan.
^ of course rate is just one small part of the overall picture- LMI cost, overall cost, on going fees, policy, serviceability, equity etc...
Smaller banks and credit union works best in the sub $150,000 - $400,000 loan.
^ of course rate is just one small part of the overall picture- LMI cost, overall cost, on going fees, policy, serviceability, equity etc...
300 is a fair slab of mortgage, if its average volume, then an average discount would apply ?
I think you are doing very good for that size loan with that lender
ta
rolf
My bank is WBC and my personal banker is just in the process of refinancing my construction loans out to standard resi loans and negotiating rates for me. I met the National GM at a WBC function recently and he agreed that, on my circa $2M in loans with WBC, I should be getting more than 100bp. I think he alluded to 120bp which is what my personal banker is now chasing.
I've got the three IPs, all the same in the recent development. I've asked for:
1 at variable (120bp off headline)
1 at 3 years fixed sub 5%. WBC are doing these at 4.99% but I've asked for another 10-20bp off that.
1 at 5 years fixed around 5.2%. WBC are doing these at 5.49% at present I think and I've asked for around 5.2%.
Time will tell where I land. Vals are underway soon, just doing the Strata lodgement with the LTO today. As soon as that's confirmed as processed my banker will request vals. Once we have vals, we'll then know what 80% looks like on each and start applications and also go up the line for the approved rates I'm asking for.
Helps to have a great personal banker as stated already! Makes my life so much easier and happy to pay 20bp above market for it. HSBC rates are low at present and WBC know where they sit in the market. They won't match the bottom, but they will approach it as they know there's a fair premium for their high service model.
Cheers,
Michael
agreed !
WBC are doing 100 pts for FHOG buyers at 97 % lvr for a 501 k loan, so 2 mill must bring something
WBC is one of the best products so dont expect "online lender" pricing
ta
rolf
im with NAB and got the following:
1M @ 5.24% fixed for 2 years in january this year
297K @ 4.79% fixed for 2 years last month
229K @ 4.79% fixed for 2 years last month
wish i had waited a bit longer to fix the 1M loan but needed to be certain about cashflow as its a big big loan to service.
1M @ 5.24% fixed for 2 years in january this year
297K @ 4.79% fixed for 2 years last month
229K @ 4.79% fixed for 2 years last month
wish i had waited a bit longer to fix the 1M loan but needed to be certain about cashflow as its a big big loan to service.
