Hi, I was wondering if anyone has found a better rate on lending 500,000. I have found 5.61% with annual fee of $295, but it has 100 percent offset and also has no lenders insurance which is the upside for myself. It is with Westpac under the rocket plan. Thank you for your time.
Best Rate for variable borrowing $500,000?
Comments
When you say lending you mean the banks lending you money. Also called borrowing.
Thanks Deviant. I have not found the mortgage brokers to be much help to be honest. They were all saying i had to pay lenders insurance and their rate was not even better.
I think you have to pay insurance if you don't have at least a 20% deposit. This will vary by bank.
just go direct. anyway i found loans.com.au to be helpful. what's your LVR?
Westpac have been ok. 5.61% with 10 percent deposit for varible. All the brokers said i have to pay lenders insurance, which is not the case at all. 90 percent lvr
Like I said, different banks will have different rules for mortgage insurance.
FWIW i'm paying 5.54% variable with Bankwest. Remember not just to look at the rate - look at the comparable rate, which includes all the random fees. I'm happy with bankwest, it's an offset account and no or low fee. They are generally helpful too. I had more than 20% deposit so I didn't need insurance.
Thanks one man clan. Awesome name as well.
some banks allow up to 90% LVr without mortgage insurance if you are a medico or dentist. Are you one of these?
canstar or ratecity shows best deals and shows comparison rates
loans.com.au seem good for a non-bank