All Topics / Help Needed! / Loan Structure for Construction loans

Viewing 3 posts - 1 through 3 (of 3 total)
  • Profile photo of dachopperdachopper
    Join Date: 2012
    Post Count: 21

    Hello again guys,

    Just wanted to know if any investors on here have actively switched there mortgage over from bank to bank to save money ?
    and if so, what magnitude of interest rate reduction would normally be necessary to allow it to happen ?

    I currently have 4 Ip’s with the same bank, and paying about 6.75% floating rate


    Profile photo of Jamie MooreJamie Moore
    Join Date: 2010
    Post Count: 5,069

    Hi Nick

    Investors refi all the time but it’s usually not due to the rate. It’s usually due to their current lender not being conducive to their investing needs or because a messy structure has been set up from the start.

    Depending on your current borrowings and LVR, you might be able to negotiate a lower rate with your current bank with the threat of leaving.



    Jamie Moore | Pass Go Home Loans Pty Ltd
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of mike.12mike.12
    Join Date: 2010
    Post Count: 36

    Hi Nick,

    Check with NAB,getting 6.51% with 3 IP. Agree with Jamie,just call  and indicate you are leaving .
    You might get a better deal.

Viewing 3 posts - 1 through 3 (of 3 total)

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