Hello gang,
I am going to switch my mortgage for my investment property (currently getting reamed at 4.8% with no offset).
What interest rate is your mortgage at the moment and with what lender? Or what is the best rates/deal you're aware of at the moment?
Cheers!
Im similar (loan and account) to you and ours is 3.79%. Call them up and request a better deal.
Anyone still interested?
Suncorp released some new products I believe:
http://www.publicnow.com/view/90577FD90F5F5B2BE6609D3B43AD14…
http://www.suncorpbank.com.au/home-loans/options/back-to-bas…
Better Together’ Special Offers*
Loan Type LVR Repayment Type New Loans Standard Rate Discount Interest Rate Comparison Rate*
Personal Purpose/ Owner Occupied <=90% (Incl. LMI) Principal and Interest and Interest Only $150,000 and above 4.92% p.a. -1.00% p.a. 3.92% p.a. 3.93% p.a.
Investment <=90% (Incl. LMI) Principal and Interest and Interest Only $150,000 and above 5.19% p.a. -1.00% p.a. 4.19% p.a. 4.20% p.a.
Personally I am with suncorp, their web system can bee improved, but their products are good
am just reading about this, the catch it I think its not 100% offset… or there's no mention of offset at all…
Managed to get my existing loan down to 4.14% (1.3% discount off the std variable rate for the life of the loan) with St George with 100% offset and fees waived. Loan value is only $260k. Pretty happy with that. Some very sharp deals going around though! :)
QT mutal bank have 3.88%
state custodians 3.74% with 100% offset, IO, $275/yr fee
That's awesome. Looks like it is available for investment too.
Just to let you all know ING has come out with 3.79% (4.01% comp) on their Orange advantage and 3.69% (4.41% comp.)3 year fixed. That is with 100% off-set and a $199 per annum package fee.
Great and fast lender for approvals. However, not a huge fan of their top up policy and high qualifying rate. However, if you qualify it is a good set and forget product, especially for owner-occupier purposes.
Hope that it is useful for some
Sam
Pro Finance Solutions
No it is not a good set and forget product! I am with ING since last year and now my rate is 4.59% (with OA). They refused to lower it, not even matching their own current rate, which they said is for new customer only.
They and ME are the biggest offenders. I am so sick of hearing this.
I am thinking of switching to ING … what do you mean by 'top up policy'?
Cheers, what are they like for investment? What about interest only?
about to move to NPBS with 3.64% (but don't think this rate is available anymore), 3 loans, all variable, mix of owner occupier & investment, all same rate, and with cashback lender rate is effectively 3.44%
how are you moving if it's not availalbe?
application was in before the offer has since been removed
NAB
Locked in at 4.59% fixed.
$5200 fee to break out of the loan as of yesterday.
395 choice package fees, with credit card.(that's not even activated.)
Break free loan sounds good. As does half and half.
Lock in half the mortgage at a fixed rate and the other half at a variable rate.
Some great interest rates getting around at the moment.
I know im not getting the best deal and best opportunity. NAB retention team weren't interested in talking options…..
It's fixed and well in their favour at the moment so no reason to offer any service or follow up
I know I can get a much better deal elsewhere.
WHY DON'T YOU ASK THEM TO WAIVE THE 395 FEES?
Current Best offer that I did for a client just today… Mortgage Ezy (funded by Adelaide Bank). 3.53% (3.53% comparison) no ongoings or upfronts. Must be P&I and up to 80% LVR. 90% LVR is 3.63% and has a package fee.
@samprofs - that's interesting. Can't say we've seen any demand for that product. Probably of Bank of Sydney at 3.54%p.a. (CR 3.55%p.a.) with no annual fee, no estabs (for a standard scenario) and an included 100% offset account with platinum card has been the standout of late.
I like the Bank of Sydney product offer, but prefer the Mortgage Ezy/Adelaide policy, especially for more than 2 on 1 title, maternity leave and speed of approval. Also this new product has a higher borrowing limit. Do check it out.
I have been surprised by their quick SLA.
@samprofs, I am looking to refinance my home loan. What is the best way to contact you? Thanks
Hi all, I needed some advice about my home loan. I am currently with Bankwest at 4.52% and looking to refinance. My loan amount will be $305k for a $400k property so no LMI required. I have been quoted 3.92 % and 3.99% with offset accounts (important to me) but around $1200 fee for settlement, rego etc. Are these good rates/deals? I have heard about cashback offers for refinancing customers so was wondering if I might be eligible for it.
Hi titan0r, generally speaking, 3.92% and 3.99% could be acceptable for an investment loan at that size. For a home loan, you'd probably be able to get cheaper depending on your credit profile & what was important to you. Factors such as whether you only wish to deal with a major bank or if you'd consider a smaller bank or non-bank lender and whether you want an included credit card (or other functionality such as Apple Pay or Google Pay) can make a noticeable difference to the cost of the finance.
In short, if you were wanting a rebate to cover switching costs & you're willing to consider a smaller bank you ought to be able to get around 3.55%p.a. at that loan size along with a rebate for a owner occupier refinance.
If you wanted some help with a scenario please feel free to send us a PM.
Hope this helps.
Thanks PMed you.
3.8% ING Direct (first home buyer)
loans.com.au owner occupied, 100% offset with Visa card access, no fees, 3.96% variable on $270K.