Fixing long term interest rates

[Jasonm]

What are people's thoughts on fixing long term,such as 7 or 10 years for a long term buy and hold strategy?

[Nick G]

Normally in NZ for an IP you can only get 5 years at most.

[snobilo]

I enjoy fixing because I like certain numbers when doing calculations and want to remove variables, plus you can fix for a year at 4% at the moment its fantastic.

[Wayne]

1 year is hardly long term though

[Damo]

you can fix for a year at 4% at the moment its fantastic.

4% ay? where are you getting these deals? I see 4.5% approx

[brokerman]

4% ay? where are you getting these deals? I see 4.5% approx

4% long gone......fixed a rental for 5 years at just over 5% a few months ago, nothing to think about and I like an easy life!

[Jasonm]

Im thinking along the same lines as you brokerman,might have to see what the next Ocr announcement brings and then lock down!!

[Nick G]

Ask around, its very competitive right now.

[primal]

If you can get a good rate than sure you can.

[snobilo]

Use Loanmarket if you cant negotiate well yourself, they will also give you good advice.

[MichaelKarabassis]

I am not with LoanMarket, but I am a mortgage adviser and with the power of negotiation and the number of deals I put through, getting 4-4.3% is definitely achievable at the moment for a fixed for 1 year period.
2 years will be around 4.3%p.a. give or take .1
The best i've done for long term, is fixed 5 years at 4.89%p.a. which is a pretty good.
The key thing to note is that it depends or your strategy to whether long term fixing works or not because it will make it a pain to break any of the loans if there is any selling of properties or restructuring.

Hope this helps.

[snobilo]

4% ay? where are you getting these deals? I see 4.5% approx

SBS bank had 4% and I got ANZ to match in December last year

[MichaelKarabassis]

yeah the banks are doing pretty well especially when you give them a chance to price and then price. But again its about the total lending package and/or your brand with the bank too.