Hi. Can anyone advise on what they think/know the best interest rates are offered by the lending institutions? Am looking at variable for an investment property (or two).
Am using a mortgage broker – they are recommending ANZ because of the no application fee and dscount rate offered – discount would also include our existing investment loan with them…am most cautious of not cross-collaterising!
Thank you and I look forward to replies.
QM wrote:Am looking at variable for an investment property (or two). Am using a mortgage broker – they are recommending ANZ because of the no application fee and dscount rate offered – discount would also include our existing investment loan with them…am most cautious of not cross-collaterising! Thank you and I look forward to replies.ANZ are quite a good option at the moment. Not only is their current rate discount/fee waiver for first year promo good but their cashout policy has improved as well.
Make sure you don't cross those loans! Your broker should know how to set-it up correctly for you.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Thank you Jamie!
You say for the “first” year..no one has a crystal ball but I am also aware that I should be looking at loans that are appropriate for long term benefits/suitability. When banks such as ANZ give a promo for the first year, does it mean that something’s around the corner that we should be wary of??
The "first" year reference was just in regards to ANZ waiving their Breakfree package fee of $375 for the first year. You'll have to pay the fee from the second year onwards (that's assuming you're getting the breakfree package).
These annual package fees are not uncommon. Each major has one for their pro pack product.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
I would say ANZ is not a bad option as well with their current promotional rate and offer. ; as Jamie mentioned it’s 1st year Annual fee is waived, the discount on the rate is for the life of the loan 1% off SVR.
End of the day if the loan can be approved crossed, then it can be approved “un-crossed ” as well.
Just note:
1. ANZ is only good if your LVR is under 80% and total borrowing over 500k; if you want a higher LVR and lower loan amount then their are better options out there.
2. If you have over 1M with any ONE lender, then it be a good idea to start thinking about going to a different lender for the next loan etc…Regards
MichaelMick C | Shape Home Loans
http://www.shapehomeloans.com.au/
Email Me | Phone MeSame Banks. Better Rates. Served With a Passion.
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