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Oh well I heard it from someone overseas in forex that I shouldn't be buying property. Pass that on.
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You sound a little inexperienced.Originally posted by quebec View Post
You make money from property, not from breaking mortgages and switching banks every five minutes.
Let the loans run their term and then refix for short terms.
Don't sweat the "I'm paying 5.25% instead of 4.85%..." nonsense.
Buy well, focus on property.Comment
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Over the ditch.
ANZ raises investor home loan rates 0.27 percentage points
ANZ Banking Group is raising interest rates on home loans held by property investors 0.27 percentage points, so far the most dramatic step by a bank to comply with a clampdown on lending to landlords.
At the same time, it is predicting a "heightened focus" on borrowers paying off a mortgage on the house they live in, after cutting fixed rates for owner-occupied borrowers.
In a move that may be followed by other banks, ANZ on Thursday announced it was putting the brakes on lending to landlords by raising its index rate for investor property loans to 5.65 per cent.Comment
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Anyone heard of new rates since OCR drop? Anyone offered anything good? I heard 4.7% for 6 months and 4.6% for 1 year.Comment
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Just sent my broker to refix an ANZ loan, will report back next week when I get the rates.Comment
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BNZ offering 2 years at 4.69%. I've got mortgagors remorse... I should be happy with the 5.39% rate for 5 years but can't help dreaming about these low rates and how my IP's would all be 100% cashflow positive on these rates..“Our favorite holding period is forever.”Comment
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Some friends of mine have been offered 4.6%@2 years with BNZ lately.Originally posted by donthatetheplayer View PostComment
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Heard a kiwibank broker at the hairdressers on Sat telling his hairdresser he had done 4.5%, Im not sure the term.Comment
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You're not helping with my remorse Gary...Originally posted by Gary Lin View Post“Our favorite holding period is forever.”Comment
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Break your fixed rates and enjoy the low rates and the coming reductions. I had 500k with Kiwibank fixed for 5 years at 5.99 earlier this year... broke very early as talk of rate reductions started at a cost of $500. Thanks god for that... I do not think that locking and forgetting is a good strategy.Comment
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If you got 4.8% for say a year the saving would be $1900 ish over the 12 month term. Floating is obviously higher but you have the ability to overpay, which a lot of people are doing.www.ilender.co.nz
Financial ParamedicsComment
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Probably a good idea.Originally posted by Wayne View Post
With a $13k break fee (and a series of lower ones) breaking is probably not the option I'll choose!“Our favorite holding period is forever.”Comment
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Just reassure yourself with what the rates could be in 3+ years time? That's what I'm doing *(altho Im not that concerned I got 4.99%/5 years). My other comes off end of the year so hoping to console myself with a good deal on that.Originally posted by donthatetheplayer View PostComment
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Some time ago I decided one of the big risks to my business was interest rate movements so split the loans into many parts with different terms and re-fix dates.
This was so, if there was a big jump in rates, I would have them all jumping at the same time.
This should mean you don't get the best rates or the worst.
Recently I have had angst at the rates I pay compared with what they are now and had to remind myself this morning what the 'plan' was.
The problem with floating (or my preferred fix for 6 months) is when do you jump into fixing long term?
Did this a while back when rates were rising and got caught.
If you have a little 'floating' then only a little could be affected by a false rise - my way of rationalising it anyway.
Remember the plan!Comment
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