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  • Originally posted by Wayne View Post
    Change the loans to a few million and the decision gets even bigger - think about it as you grow your portfolio.

    Yeah when you go from calculating interest rate options on 500k, to interest options on 5 million, the ramifications can be quite mind boggling.
    Safety and cash flow comes first, but it all depends completely upon your particular situation and what your plans actually are, and you must have a loan management strategy that works with that.

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    • And if you start losing sleep over the decisions it is time to leave the business.

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      • Other than Aussie bank greed what is pushing up the rates? The financial brown smelly stuff is still neck deep in Europe and will be for many more years. Unemployment is still up with no signs of any real recovery any time soon.

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        • Originally posted by Learning View Post
          Other than Aussie bank greed what is pushing up the rates?
          Our economy showing some healthy signs; and wide expectation that the US Fed will start soon to reduce their amount of bond buying.
          This will lead to a rise in US interest rates as their economy improves.

          "Aussie Bank greed".....ah bless.
          Don't buy their product if you are that upset.

          Disclosure: Bank shareholder.
          Last edited by speights boy; 26-08-2013, 11:31 AM.

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          • Originally posted by speights boy View Post
            "Aussie Bank greed"
            Correction: Aussie bank shareholder greed. :-p

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            • Originally posted by Learning View Post
              Correction: Aussie bank shareholder greed. :-p
              Ahh bless.

              Disclosure: Not an Aussie bank shareholder.

              BTW: When you look at the average floating mortgage rate chart, the last noticeable movement was in March 2011 (Christchurch earthquake)
              That movement of course was down.

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              • I'm not losing sleep I just want to know if there's any flaws in my logic. Like is fixing 100% of the mortgage wise? Can't see why not unless I plan on selling or paying some of it off early, neither of which applies.

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                • Originally posted by speights boy View Post
                  I had my people call their people BK; and they managed to come up with this, just for you.

                  ASB's 'lowest ever' fixed term rate
                  Cheers, my people said your people were calling around.

                  But I dont actually believe in 80% lending, unless forced into it.
                  Its basically just way too dangerous for me.

                  Better to be leveraged to the hilt, and have a large fat R/C account sitting there.
                  In case of left field events like the one in one hundred year rare tsumani's and earthquakess that hit us every year.

                  On the principal that you need to take it when you can get it, not ask for it when you need it.
                  As the banks dont lend it when you really need it.

                  (Tip for young players, Girlfriends work the same way banks do).

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                  • Comes with interest?

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                    • Accepts deposits? I'm really confused by what you mean, bluekiwi.

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                      • They keep taking your money, pay you little interest once they have you and don't want to know you if you don't have a job or a house.

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                        • Westpac lifts most fixed mortgage rates
                          Meanwhile, Westpac's six month rate is being increased by 15 basis points to 5.40%, its 18 month rate by 35 basis points to 5.75%, its two year rate by 30 basis points to 5.95%, its three year rate by 46 basis points to 6.50%, its four year rate by 60 basis points to 6.90%, and its five year rate by 50 basis points to 7.10%.

                          The changes are effective from Friday, September 6.
                          Westpac says all rates require at least 20% equity with the borrower having to take out a loan of at least $100,000. Borrowers with less than a 20% deposit will be charged low equity margins.

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                          • All the big four have raised their fixed rates significantly.
                            Now low equity fees are rising.
                            Mr Wheeler will be pleased.

                            Mr Key however will not be.
                            I wonder what his next plan is.

                            Low equity loan fees rise
                            The limited supply of low equity home loans is about to become more expensive, with ANZ the first bank to hike its fees.
                            Today the bank, the country's biggest lender, advised it would hike its biggest ''low equity premium'' from 1.25 per cent to 2 per cent.

                            That will affect borrowers with a deposit of less than 10 per cent, meaning they'll have to fork out, for example, an extra $8,000 to get a $400,000 loan.

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                            • Or they (low equity) can go to non bank lenders have heard their rates are not much different to main stream banks.

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                              • As I said Mac; Mr Wheeler will be very pleased if they do that.
                                They are not his concern.

                                Mr Key however not so much.
                                As Auckland house inflation continues, and mortgage costs rise the "first home buyers remain our priority" pledge will continue to be exploited by the opposition.

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