Interest Rates

[essence]

Perry, I LOVE that cartoon!!

[Perry]

Be Careful Out There

Not sure who's leading who . . .

[halfempty]

Just had my first Mort payment on the new (lower) interest rate and I'm $148 better off this fortnight ($525,000 loan).

These sort of increased returns must be hitting the wallets of a lot of the property investors here and round the country given that such a large number of investors are on a floating rate.

Makes me wanna go shopping for more properties

[Wiz]

Just changed the bulk of ours from floating to a 2 year fixed rate. Saved $500+ a month, and some security on outgoings is always a good thing in a new venture. Happy days!

[Viking]

So who is getting what rates now? Just doing an update with ANZ so want to beat the buggers up if I can.

[HermanZ]

So who is getting what rates now? Just doing an update with ANZ so want to beat the buggers up if I can.

Check out todays Herald

http://www.nzherald.co.nz/business/n...ectid=10819502

"Even with a slow rise, bank customers with enough equity and good repayment records could push their banks for better deals of around 5 per cent to 5.2 per cent."

[Viking]

Check out todays Herald

http://www.nzherald.co.nz/business/n...ectid=10819502

"Even with a slow rise, bank customers with enough equity and good repayment records could push their banks for better deals of around 5 per cent to 5.2 per cent."

Thanks but I read all that propaganda before you woke up this morning. What I'm asking is who has negotiated what in the last week or so.

[Equilibrium]

Tell me your total lending, lvr and preferred structure and I'll let you know what you might expect.

[mattinvestor]

What is the overall New Zealand real estate situation looking like right now? I have been thinking about making a foreign investment.

[Toasty]

Thanks but I read all that propaganda before you woke up this morning. What I'm asking is who has negotiated what in the last week or so.

Heres my last offer from ANZ. This was just over 2 weeks ago. Also $1000 towards costs.

Variable 5.00% p.a.
6 months fixed 5.15% p.a.
1 year fixed 4.75% p.a.
2 years fixed 4.99% p.a.
3 years fixed 5.40% p.a.
4 years fixed 5.75% p.a.
5 years fixed 6.20% p.a.

[Orpheus1]

Heres my last offer from ANZ. This was just over 2 weeks ago. Also $1000 towards costs.

Variable 5.00% p.a.
6 months fixed 5.15% p.a.
1 year fixed 4.75% p.a.
2 years fixed 4.99% p.a.
3 years fixed 5.40% p.a.
4 years fixed 5.75% p.a.
5 years fixed 6.20% p.a.

Wow,
I'm curious as to how much it costs to move from Westpac to ANZ? I'm on a variable at 5.29 . What are the total costs to move?

Thank you

[Maccachic]

Just lawyers fees I believe if you don't have break costs, I was advised approx $800 to redo the mortgage with a new bank, and the new bank will prob give you some cash to cover your costs anyway. Tell your bank you are looking to move to ANZ because they are offering such and such a rate and they will prob match it

[Equilibrium]

Just lawyers fees I believe if you don't have break costs, I was advised approx $800 to redo the mortgage with a new bank, and the new bank will prob give you some cash to cover your costs anyway. Tell your bank you are looking to move to ANZ because they are offering such and such a rate and they will prob match it

Think that will be $800 plus disbursements (total of more like $1000) for one property only so expect to pay a lot more for multiple properties. If you approach another bank they may be able to offer you a welcome gift for signing with them as well. The rates quotes seem strong, depending on the finer detail.

[Maccachic]

No that price includes disbursments. A one man property lawyer - less overheads I guess.

[Equilibrium]

It's worth knowing who that is, please post his details.