As a special offer for a limited time we're reducing 1, 2 and 3 year Fixed Rates to 5.99% p.a. under the Advantage Package!
These rates are available in conjunction with the current $700 Refinance Rebate campaign for Packaged refinance applications where the loan amount is greater than or equal to $250,000.The new rates are effective from Monday 16 April 2012 for new customers as well as existing customers switching into a new fixed rate.
As this offer is for a limited time, please ensure you advise customers of our Rate Lock feature.
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]
And ANZ have increased their variable rates!!!!!!!
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Yep – another 6 points. Don't know how many ppl saw that on the cards.
Looks like the Dragon is hungry for business. They've been pretty good on their pricing of late as well.
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]
Only trouble with any of these so called Special Offers is the lenders service levels then blow out to ridiculous levels.
AMP were out to 19 working days to look at a deal until recently and even though they ended their 5.99% 3 year fixed rate are still at 9 working days. With a 14 day finance period you have no chance of getting the deal approved within the time frame even assuming everything was ok.
Fine if you are refinancing and time is not of the essence.
And well my comments on Anz are not worth printing.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Qlds007 wrote:AMP were out to 19 working days to look at a deal until recently and even though they ended their 5.99% 3 year fixed rate are still at 9 working days. With a 14 day finance period you have no chance of getting the deal approved within the time frame even assuming everything was ok.What would be a good finance period to put into a contract – 20 days?
Thanks
Depends on who the lender is and where you located.
14 days is standard and achieveable with many a lender.
Remember lenders quoted their service level in business days and not actual days so there can be a big difference.
Without knowing more about your position it is difficult to provide you with a more accurate answer as if LMI is required this can add further time delays.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Your not wrong about the service times blowing out – for AMP it was beyond a joke. I’ve got a few refi’s that have only just been looked at since the 5.99% promo ended (which was a while ago now).
Be interested to see how the Dragon copes because this rate coupled with the refi rebate should generate a bit of business for them.
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]
Jamie if it anything like they coped last Special it will be another joke.
With AMP / Citibank promo's you had no chance it getting the deal over the line on a purchase if you needed it the same month as you lodged it. Total disgrace.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Don’t even get me started with Citi – I generally try to avoid them altogether.
AMP have some good policies and quirks that assist investors but are generally a pain to deal with – even outside of promos they can be quite frustrating.
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]
Anyone know of any fixed rate loans for 15 years or more? so far, i could only find the COmmonwealth Bank with them
Agree with Richard except with me it’s a case of my comments on our personal experiences with the dragon’s behaviour are unprintable.
If i looked at a contract with them i’d be reading it with a microscope for a month so time periods wouldn’t bother me.
CBA came through for us with flying colours by the way.
cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
hi guys
im new to the game, read a few books on property investing. would like to set up a portfolio with the intention of paying down debt and livivg of the rents. would still like to have the option of renovating to add value and raise rents or even sell to realise profits. can anyone give me there opinions on what is the best finance structure for such a strategy. already have offset loan on PPR, but am thinking of going LOC for investing. one of the things i like about the LOC is having the money sitting there ready for negotiating and not getting screwed around with time by the banks.
thanksYes as long as the rate and term on the LOC is competitive then dont have a problem going that route.
You would use the LOC to access the deposit and acqusition costs and then get your Broker to arrange a standalone loan secured against each IP often with a separate lender to your PPOR.
Wouldn't be paying down your IP loans if you still have a non deductible debt on your PPOR.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
thankyou for your comments 007
Qlds007 wrote:Yes as long as the rate and term on the LOC is competitive then dont have a problem going that route.You would use the LOC to access the deposit and acqusition costs and then get your Broker to arrange a standalone loan secured against each IP often with a separate lender to your PPOR.
Wouldn't be paying down your IP loans if you still have a non deductible debt on your PPOR.
Cheers
Yours in Finance
just wondering, if i were to end up with say 5 properties that were secured to different lenders and they had all grown equity. how could i combine that equity to give me maximum leverage to purchase again? wouldnt i have to wait until i had a substancial amount of equity in each property before i could purchace again?
Jamie… Did I miss this deal? I dont see it anywhere on St Georges website.
Hiya
It's still available. Just recieved a lender update 30 minutes ago reiterating the current campaign. If you go down this path, I'd consult your broker/banker about the rate lock option.
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 see now CBA has 5.99% fixed rate with the wealth package, or 6.14 without. To the brokers here, are CBA usually pretty punctual in getting loans through,unlike the lenders mentioned above? Thanks.
Yes and No Soloman.
CBA can be ok if it is a nice clean <80% lvr with an internal credit score of 1-3 but if you come in at 4/5 expect them to say No.
Like any lender when they get business in the service levels fall backwards.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
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