Most of the advertisements are for only owner occupied.
Are there any standard lenders that are known for best deals for non-owner occupied mortgages (interest plus interest)?
Mortgage broker gave me Bankwest with 6.04% as the best current rate with annual fees of $399.
Principle plus interest. Thanks for sharing
Investment, principle and interest. 5.99% Qantas money/adelaide bank (+ $10 per month offset account fee)
Thanks a lot.
This one has never been on any mortgage broker list.
Pretty straightforward to apply online. Just a lot of paperwork (LVR <80% of course). I figure Adelaide bank seems like a mid tier bank with reasonable CET1. I don’t fully understand it, but my interpretation was of a low risk of Adelaide bank experiencing a default / bail in event. Which was important to me because I intended to have funds in an offset facility.
I've got a couple of investment loans with HSBC at 6.04% (P&I with an offset account).
Always changing. Have to keep checking. It just depends on which lenders are being more aggressive in grabbing market share and what their borrowing rates are at the time
Shop around. Your mortgage broker will be able to give you the best rate as with an owner occupied mortgage.
The other posters have given HSBC. I went to a mortgage broker and he did not have access to HSBC even though I mentioned I was an HSBC Premier customer. I was given a Bank West loan . So it might be best to shop mortgage brokers as well.
I see. I think that's what happened with mine where Bankwest was the best option.
An option with HSBC is to do it through Compare the market, and you'll get $2000 cash back
this is useless as you aren't asking for LVR's at the same time.
IO interest rates are even more sensitive to LVR, given these properties are typically secondary homes and the resident doesn't have a vested interest in keeping a roof over their head.
Ill assume these ~6% rates are below 80%. Mines 80% LVR and is at 6.14%
Was on 5.89% with HSBC, but PCU did a deal to bring 3 mortgages to them total ~1.15m.
LVR70%, 5.59 for OO and 5.74 for Inv (0.5% disc on their advertised), and they gave me a rebate to cover all the costs of moving and first year $395 package fee negligible for offset.
Settled last Thursday, took 30days. Message me if you'd like me to refer to their mobile lender.
PCU?
People's Choice Union
I'll send you message for referral.
Just curious on how did you find this? Did you look around or this is something your mortgage broker sent you?
I actually only wanted to move one of my investments which was on 6.04% with Unloan. I went randomly on Canstar and looked at the cheapest available lender and they came up with PCU and Regional Australia Bank.
Sent an email through without any expectations, and Regional Australia Bank came back with the standard fees, etc. However, a PCU mobile bank lender went above and beyond looking into my finances and decided that they wanted my business, so they made a no brainer offer for me to move everything.
Interest only investment loan. 5.94% with offset, no annual fees.
LVR: <70%
Newcastle Permanent Building Society.
Thanks. You got this via mortgage broker or found yourself?
The mortgage lender from Newcastle Permanent provided the deal.
Thanks
@Duckie2hh, I have messaged you, this sounds very good, could you please share the details of the broker. thanks
So Investment Interest-Only (INV-IO) loans…?
If so I've got an investment loan on 6.09% with Auswide Bank (with $395 package fee)