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  • ANZ loan

    Refixing $200k just now for 12 months, 4.15%

    Total lending 1mil

    Bad rate but not much choice.

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    • I been told from the Westpac that the rate is much higher if it's investment property loan.

      I got a offer that 12mth for 4.29%. does that sound right ?

      Comment


      • Originally posted by nick_auckland View Post
        I been told from the Westpac that the rate is much higher if it's investment property loan.

        I got a offer that 12mth for 4.29%. does that sound right ?
        In general it's correct but have you actually have 5 loans totaling for more than $1mil with them?

        Comment


        • Reserve Bank is rumoured to have instructed banks to start charging investors more interest rate.

          Westpac is the first out of the block.

          Comment


          • Reserve Bank has no power to instruct banks to charge more or less interest to certain customers.

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            • In fact it has the power. Reserve Bank can require banks to hold more capital for loans to certain groups of customers, such as residential property investors. More capital = higher interest rates to these customers.

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              • In fact it has no power. Power to require more capital to be held is not the same as power to require charging higher rates. Banks can easily (and some will I hope) absorb the extra cost to get the investors' business.

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                • True, power to require more capital is different from power to charge higher interest rates.
                  Nevertheless the impact is direct. Some banks may absorb costs for some (lucky!) investors, but in general interest rates for average investor will increase. RBNZ knows that and was talking about this option quite for some time.
                  Last edited by ivanp; 17-05-2016, 05:52 PM.

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                  • My source, Westpac

                    watch the space
                    Last edited by PTILoveYou; 17-05-2016, 07:58 PM.

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                    • Originally posted by Gary Lin View Post
                      Reserve Bank is rumoured to have instructed banks to start charging investors more interest rate.

                      Westpac is the first out of the block.
                      I was told that by Westpac yesterday when I approached them about refinancing.

                      Comment


                      • Originally posted by Judge View Post
                        Hold on for a bit longer guys. Soon we will be paid money to borrow. http://www.wsj.com/articles/the-upsi...tes-1460643111
                        Judge I am refinancing soon and the rates I have so far are underwhelming.
                        I don't have Westpacs yet

                        Comment


                        • Originally posted by Eugene View Post
                          I was told that by Westpac yesterday when I approached them about refinancing.
                          My broker told me the increase is not a lot, so let's wait and see.

                          Comment


                          • Originally posted by Eugene View Post
                            I was told that by Westpac yesterday when I approached them about refinancing.
                            Thats odd
                            The westpac said the opposite to me
                            Commercial interest rate are actually less than residential
                            Last month i was quoted 4pc floating for commercial

                            Comment


                            • Originally posted by Beano View Post
                              Thats odd
                              The westpac said the opposite to me
                              Commercial interest rate are actually less than residential
                              Last month i was quoted 4pc floating for commercial
                              Good to hear ...was talking with Westpac business banker today ,,getting idea how much I can borrow for commercial purchase
                              Last edited by Perry; 17-05-2016, 10:09 PM.

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                              • Originally posted by JBM View Post
                                Good to here ...was talking with Westpac business banker today ,,getting idea how much I can borrow for commercial purchase
                                It was the westpac wgton (its a formal written offer too)

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