All Topics / Finance / RBA Rate Cut

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  • Profile photo of god_of_moneygod_of_money
    Participant
    @god_of_money
    Join Date: 2008
    Post Count: 970
    April 20, 2009 - 8:01 am

    What's wrong with the exit fee… it is the borrower FAULT… who is crazy fixing it at 8 or 9%?
    What happened if you opened the term deposit last year with interest 8.5% and the bank(s)
    decided to lower it to 3%… I am sure that the customer will challenge it on the Supreme Court…

    Don't speak non sense

    BTW, CBA just increased the fixed rates by up to .44%… time to fix homeloan???

    Profile photo of fishngymfishngym
    Member
    @fishngym
    Join Date: 2008
    Post Count: 49
    April 20, 2009 - 9:01 am

    G'day God_of_money,

    Just wondering what CBA fixed interest changes have occurred?

    There is no indication on the CBA website that home loan fixed rates have increased. Are you making reference to term deposits interest rates?

    Profile photo of god_of_moneygod_of_money
    Participant
    @god_of_money
    Join Date: 2008
    Post Count: 970
    April 20, 2009 - 10:15 am

    http://business.smh.com.au/business/cba-hikes-fixedrate-loans-20090420-acjy.html

    I got the news from the financia market this pm.. but smh has published 6 pm EST

    Cheers

    Profile photo of fishngymfishngym
    Member
    @fishngym
    Join Date: 2008
    Post Count: 49
    April 21, 2009 - 7:46 am

    Thanks mate,

    We were hoping to fix some loans at what we thought was the bottom of the cycle.

    Clearly the CBA is making this harder than first thought.

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    April 22, 2009 - 1:54 am
    PosEnterprises wrote:

    Terry am waiting to get out when it expires otherwise up for about $13k in exit fees and the rest.  Is there a problem getting finance from other lenders if it was originally Lo Doc finance.

    Hi Pos, yes there are big problems for those wishing to refinance an existing low doc. Richard mentioned the 2 main hurdles.
    It would be ashame if you were waiting all this time and are unable to get out of rams!

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

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