Lender offers loan at 6.03%

Viewing 12 posts - 1 through 12 (of 12 total)

PosEnterprises
Member
@posenterprises
Join Date: 2006
Post Count: 290
December 16, 2008 - 4:38 am
Lender offers home loans at 6.03%Direct lender MyRate.com.au today announced a 100 point reduction in its already low variable rate product effective 19 December.MyRate’s fully featured standard variable rate home loan rate is now 6.03%p.a. (or 5.99% pa for loans above $600k) with no fees on standard applications.
Terryw
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@terryw
Join Date: 2001
Post Count: 16,213
December 17, 2008 - 12:25 am
What about Bankwest's rate tracker, it is even lower for the first 2 years and then reverts to a higher rate, but no DEFs.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
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Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Richard Taylor
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@qlds007
Join Date: 2003
Post Count: 12,024
December 17, 2008 - 1:00 am
Exactly Terry and with Bank West they even throw the lack of customer service, broker heartache and stress, change of missing settlement date by a week or so in for nothing.
Richard Taylor | Australia's leading private lender
Linar
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@linar
Join Date: 2004
Post Count: 567
December 17, 2008 - 1:24 am
Ouch!!
daniellee
Member
@daniellee
Join Date: 2006
Post Count: 197
December 17, 2008 - 2:53 am
Hi
So, one should avoid Bankwest like the plague? I have had no dealings with them, but have seen some negative comments about them.
Now that it has been purchased by CBA, will anything change?
Regards
Daniel
Richard Taylor
Participant
@qlds007
Join Date: 2003
Post Count: 12,024
December 17, 2008 - 3:04 am
Daniel
Nope nothing. CBA are getting just as bad.
Richard Taylor | Australia's leading private lender
Terryw
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@terryw
Join Date: 2001
Post Count: 16,213
December 17, 2008 - 3:05 am
All banks go through periods of bad service etc. These periods come and go
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
keiko
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@keiko
Join Date: 2008
Post Count: 513
December 18, 2008 - 7:57 am
Hi Terry, whats the current 2 year fixed rate with bankwest for commercial property
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
December 18, 2008 - 1:04 pm
keiko wrote:
Hi Terry, whats the current 2 year fixed rate with bankwest for commercial property
Don't know sorry
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
Richard Taylor
Participant
@qlds007
Join Date: 2003
Post Count: 12,024
December 18, 2008 - 1:29 pm
It varies depedning on what is being offered as security but was around 6.5% for true Commercial Security at the start of the week.
Richard Taylor | Australia's leading private lender
asabove
Participant
@asabove
Join Date: 2005
Post Count: 8
December 19, 2008 - 6:51 am
Mortgage ezy have just dropped the rate they are charging me to 6.64% I think it's a bit rude given that when I took out the loan in November 2007 they had the same rate as pacific mortgage who will now lend at 5.92% I'M NOT HAPPY.
Teh guy who sold me the loan said the rate would go up and down in line with RBA movements. CRAP. What I'd like to know is how a man can tell what he is going to be paying. Clearly the advertised rate means nothing.
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
December 20, 2008 - 6:43 am
Variable rates vary. They go up and down and there is no requirement for the lender to follow the RBA cuts.
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