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Viewing 12 posts - 1 through 12 (of 12 total)
  • Profile photo of MarkyinvestMarkyinvest
    Member
    @markyinvest
    Join Date: 2012
    Post Count: 5

    Hi Guys,

    Just wondering if any can tell me the best variable interest rate? I dont think we are getting a good deal with CBA and just wondering whats out there. Thanks

    Mark

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069

    Hi Mark

    Welcome aboard.

    Is there anything specifically wrong with your CBA loan apart from the rate?

    If it's the cheapest rate that you're after, you'll find the cheapest rates provided by online companies.

    Having said that – cheap doesn't (and rarely) equates to best and the company with the cheapest rate can become quite expensive in a short period of time.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

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

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    Hi Mark

    As Jamie mentioned if you are merely chasing the lowest rate then good luck becuase next week it willl change again and you can go thru the same process. 

    When your Bank manager tells you that he is offering you the best loan out there ask him will he be your Bank Manager for the term of the loan or will he take promotion and ditch your account if it is offered. I think i know the answer.

    If you are looking too build a property portolfio then interest rate is not important as there are numerous other factors that investors should look for and a good independant mortgage broker should be able to help you with this.

    If you have a single PPOR and intend to stay there forever and a day stick with CBA, tell them you are going to leave as you can get a better rate round the corner and they will probably match it.

    Cheers

    Yours in Finance

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me

    0-40 Properties in a decade with an unencumbered value of over $35M. Email for a copy of my API article

    Profile photo of MarkyinvestMarkyinvest
    Member
    @markyinvest
    Join Date: 2012
    Post Count: 5

    thanks Richard, I am looking to stay with the one lender but someone who is generally cheaper. Perhaps im a little naive but a friend said that they are with NAB and find that they have been cheaper than the majors?

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069
    Markyinvest wrote:
    thanks Richard, I am looking to stay with the one lender but someone who is generally cheaper. Perhaps im a little naive but a friend said that they are with NAB and find that they have been cheaper than the majors?

    No – it's a general statement.

    It all depends on the total borrowings, LVR, what you (or your broker) are able to negotiate and which bank is most hungry for business at the time.

    I understand that you're very rate sensitive (from this and other posts) – if rate is your primary reason for refinancing then it may be worthwhile looking outside of the majors.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

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

    Profile photo of jonmardelljonmardell
    Member
    @jonmardell
    Join Date: 2010
    Post Count: 20
    Markyinvest wrote:
    Hi Guys,

    Just wondering if any can tell me the best variable interest rate? I dont think we are getting a good deal with CBA and just wondering whats out there. Thanks

    Mark

    Hi Mark, it really depends on your loan amount, property value and features you require. if you dont mind providing that then we could provide some more accurate information. But generally heritage at 5.84%, suncorp at 5.88% or AMP at 5.90% is pretty good.

    Profile photo of MarkyinvestMarkyinvest
    Member
    @markyinvest
    Join Date: 2012
    Post Count: 5

    Thanks Jon thats great information – do you have offices in sydney? I would like to sit down and go through a few scenarios. Our situation is that we have been looking for a few months and have found a few properties which we would like to place offers.

    Profile photo of jonmardelljonmardell
    Member
    @jonmardell
    Join Date: 2010
    Post Count: 20
    Markyinvest wrote:
    Thanks Jon thats great information – do you have offices in sydney? I would like to sit down and go through a few scenarios. Our situation is that we have been looking for a few months and have found a few properties which we would like to place offers.

    Hi Mark, can you please email me your contact details to [email protected]

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    Hi Marky
    At the request of forum members i am doing a number of investor nights in both Sydney, Melbourne and a few regional areas where i will run thru how i built up my portfolio and then looking at how i can help individual investor structure their portfolios to meet their own investment objectives.

    Let me know if you like me to add you to email list for an invite to the Sydney investor night.

    Cheers

    Yours in Finance

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me

    0-40 Properties in a decade with an unencumbered value of over $35M. Email for a copy of my API article

    Profile photo of v8ghiav8ghia
    Member
    @v8ghia
    Join Date: 2005
    Post Count: 871
    Qlds007 wrote:
    I am doing a number of investor nights in both Sydney, Melbourne and a few regional areas where i will run thru how i built up my portfolio and then looking at how i can help individual investor structure their portfolios to meet their own investment objectives. Let me know if you like me to add you to email list for an invite to the Sydney investor night. Cheers Yours in Finance

    Hi Richard,
    I would be really keen to attend one of these events with the hope of seeing how you have achieved what you have and tap into your experience. any chance of posting (I would be surprised if any moderators would consider it advertising with the time you have contribued to the forum) the date you would be in Melbourne or if nay any VIC regional areas or PM'ing me? Cheers

    Profile photo of ortonstarusortonstarus
    Member
    @ortonstarus
    Join Date: 2012
    Post Count: 2

    Every bank provide different loan and all banks rates are different. I think you have to check all banks site so getting more clear about rates. All banks loan rates are different so you have to select some best loan rates.

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    As had been posted previously rate is one part of the equasion and certainly wouldn’t suggest any serious investor merely focuses on rate alone as there are many other factors to consider.

    V8ghia still working on date for the Melbourbe night but will post it as soon as I have it confirmed.

    Cheers

    Yours in Finance

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me

    0-40 Properties in a decade with an unencumbered value of over $35M. Email for a copy of my API article

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

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