Blank FrankParticipant@blank-frankJoin Date: 2011Post Count: 22propertyboy wrote:
I have $1.1m in debt.
Three seperate investment property loans.
The current interest rate I am getting is 6.96%
Is anyone getting a better rate than this at the moment?
Could I renegotiate a better rate or am I getting the best out there on the market at the moment?
Just want to know if I should devote time to refinancing or not.
What kind of loan is it…is Fixed? (term?) Interest Only? Does it have an Offset facility?
Who is it with BTW?
you still can get NAB choice package for 6.77%. Anyone got better rates. nab can offer 1% below variable rates.Blank FrankParticipant@blank-frankJoin Date: 2011Post Count: 22
GOM, I do not see your 6.76%, package or not. We are talking about investment property loans, right? If they have such an attractive rate why isn’t it on their website?
Fixed Rate Home Loans
NAB Tailored Home Loan (Fixed)
NAB Choice Package
1 year 6.94% pa 7.41% pa
2 years 7.29% pa 7.47% pa
3 years 7.45% pa 7.54% pa
4 years 7.69% pa 7.66% pa
5 years 7.89% pa 7.80% pa
10 yrs 8.09% pa 8.18% paRichard TaylorParticipant@qlds007Join Date: 2003Post Count: 11,992
It is called negotiations although i hate to say 1% discount with NAB is very unlikely.
Yours in Finance
i think it is a possibility to get 0.9% disc for >1 million loan with low lvrHouse CallMember@house-callJoin Date: 2010Post Count: 165god_of_money wrote:you still can get NAB choice package for 6.77%. Anyone got better rates. nab can offer 1% below variable rates.
I have a 6.87% with NAB Choice package, by negotiating an extra 0.1% off their existing 0.7% discount with choice pak. Have just added another loan at same rate with NAB today but bargaining with them on basis of already having that rate with our other loan with them.
Next loan I will hit them up to drop the whole lot another 0.1% if we borrow lots. Maybe they will come to the party. Worth a try.CorieParticipant@corieJoin Date: 2009Post Count: 113
I know there are a lot of people out there who are not very fond of the commonwealth but we just finished negotiations with them today and have a rate of 7.0% with them. That is a 0.8% off their standard variable for the life of the loan with an offset account that has no fees/charges for making withdrawals plus a gold card and they have waived the annual fees on that too!
Not as good as 6.87% I admit but we seem to have a good thing going with the CBA and I think its important to establish that good professional relationship with your lender. What I am trying to say is the best rate doesnt always mean the best deal for you personally.jacqui_03Member@jacqui_03Join Date: 2010Post Count: 142
I have to agree with Corie.
I do negotiate higher concessions with the banks however I find it more important to get a lender who can turn deals around quickly and who is willing to lend you the money to continue to build your portfolio.
I have loans with CBA and Westpac and I find it frustrating that Westpac takes 2 weeks to get it unconditionally approved when all info and docs are provided on day 1 where CBA has it unconditional in 1-2 days.
The discounts I get with CBA are currently better than Westpac but it’s purely based on holdings. We chose Westpac due to flexibility with their offset account
I like the idea of building strong relationships with a couple of major lenders so you can take the best loan at the time and if one bank says no you always have the other to turn too.Jamie MooreParticipant@jamie-mJoin Date: 2010Post Count: 5,065jacqui_03 wrote:I have loans with CBA and Westpac and I find it frustrating that Westpac takes 2 weeks to get it unconditionally approved when all info and docs are provided on day 1 where CBA has it unconditional in 1-2 days.
I guess it depends on the lender at the time – I had a Westpac deal go unconditional within four days just last week.
I’m hearing what you’re saying though. Rate is only one aspect of a loan when it comes to investing – there are other factors that are just as (and I’d argue – are more important) when investing – the ability to access cash with little hassle and quick turnarounds are a couple that spring to mind.
JamieHouse CallMember@house-callJoin Date: 2010Post Count: 165god_of_money wrote:hi richard i think it is a possibility to get 0.9% disc for >1 million loan with low lvr
Hi GOM, how low is a "low lvr"?
less than 65% lvr
– Uhome Loan – Ubank new product
variable rate 7.05%
0.1% disc after 3 years
Competitive No Frills
With no string attached!!
I rang ANZ today and be able to negotiate a disc 0.9% on breakfree package…
Treatened them to port to Westpac/NAB
Attempted to get 1% disc.. but failed…Gordie1080Member@gordie1080Join Date: 2011Post Count: 23
Any info on NAB? Please…..interesting post
what info on NAB?
No input so far on this threadUltra PropertyMember@ultra-propertyJoin Date: 2011Post Count: 54
We have Westpac @ 7.06%.propertyboyParticipant@propertyboyJoin Date: 2008Post Count: 206
What is everyone getting now?
I just applied for a $700k variable offset loan account.
I think they said I could get 6.79%, shoudl I shop around? ps thats with westpacJamie MooreParticipant@jamie-mJoin Date: 2010Post Count: 5,065propertyboy wrote:I think they said I could get 6.79%, shoudl I shop around? ps thats with westpac
Are you happy with all the other features associated with the loan or is just the interest rate you're concerned with?
That rate is pretty good.
JamieMick CParticipant@shapeJoin Date: 2010Post Count: 1,099
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