Hi,
I am applying for the 2-year fixed with HSL and wondering if I should lock the rate (4.99%) considering Westpac just put theirs up this week from 4.99% to 5.29% as mentioned in the other posts. The settlement date is on 19 April.
I am leaning towards locking it. What's the expert consensus here?
Many Thanks,
S.
19th April is almost 29 days away….fixed rate will most likely change by then.
To rate lock it will cost you 0.15% of the loan amount, meaning 0.075% per year – so your rate will be 4.99% + 0.07% = 5.065% per year for 2 years which is still decent.
Mick C | Shape Home Loans
http://www.shapehomeloans.com.au/
Email Me | Phone MeSame Banks. Better Rates. Served With a Passion.
True – 5.065% is still pretty good. will lock it then.
Thanks, Michael.
S.
Hi Sayan
Yes, I've been given the heads up that it will be going up this coming week.
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: info@passgo.com.au
Jamie, are variable interest rates going up too or just the 2 year fixed rate?
Just fixed.
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: info@passgo.com.au
Many Thanks, Jamie. Hopefully I can lock it in time.
Cheers,
Sayan
Like any bank ME Bank have weaknesses too so its important not to just chase rates.
Regards
Shahin
TheFinanceShop | Elite Property Finance
http://www.elitepropertyfinance.com
Email Me | Phone MeResidential and Commercial Brokerage
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