I also am with Private Banking. My interest rates are sharper than advertised rates but I know that they are not the absolute bottom. However, for me, it is the relationship with the bank that matters. Finances are quite complex (thanks to me) so having the PB relationship is an insurance: if something were to happen to me, then spouse and child would be sorted out. Interestingly, with property development, they are putting someone from the commercial team into my mix but the PB person remains. So I am not chasing the lowest 0.1%, nor the cash-back as I am chasing the fudiciary benefits.
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Originally posted by elguapo View PostIf it was sure, it would already be there.Last edited by JBM; 17-06-2018, 11:26 PM.
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Originally posted by mrsaneperson View PostStrange , Westpac are consistently one of the highest lending rates in comparison to other banks. What sort of deal are you getting?
As to rates well I'll be finding out very soon as got three loans all coming off 6m-1yr Fixed terms next month...
Did take on a small extra sharemarket trading loan on floating a few weeks ago getting 5%.
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Originally posted by eri View Post^
will be interested to know what you're offered
+ what you settle on
with so many mixed messages out there
it's best to only focus on what other investors are getting
Fixed 12 months 4.15%
Fixed 24 months 4.29%
Fixed 36 months 4.60%
floating 5%
ended up putting around 70% of my debt into the 3yr 4.6% --- 20% 1yr 4.15% 10% floating ...goal of course is to pay off the short term and floating over the short term ...then the rest I'm happy to kick back to July 2021 to deal with then....IMHO rates are going be forced higher during 2019
Going from the rates I've been paying I will be saving around $100 per month plus adding in security of the 3yrs fixed term on the bulk of the debtLast edited by JBM; 28-06-2018, 03:32 PM.
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Looks like rates are going to be low for a long while.
Latest breaking news articles, photos, video, blogs, reviews, analysis, opinion and reader comment from New Zealand and around the World - NZ Herald
WASHINGTON (AP) — Long-term U.S. mortgage rates were flat to lower this week. The benchmark 30-year rate marked its fourth decline in the past five weeks.
Mortgage buyer Freddie Mac said Thursday the average rate on 30-year, fixed-rate mortgages was 4.55 percent, down from 4.57 percent last week. By contrast, the 30-year rate averaged 3.88 percent a year ago.
The average rate on 15-year, fixed-rate loans was unchanged from last week at 4.04 percent.
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^
that's the lesson from japan (first major economy to mature?)
though it seems to be taking a while to sink-in in the west
the short-term outlook is flat
with a view to more flat
and possible extended periods of flat
at least until the economy crashes again
due to debt weight
Last edited by eri; 29-06-2018, 02:07 PM.have you defeated them?
your demons
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Yeah - I re-fixed this week. The complete opposite experience to 6 months ago - simple - mind you this was ANZ.
I used to have to deal direct with business banking, seems they'd restructured and forgot about me in the process. The call centre girl (ANZ) seemed to get the job done.
This one is 150K 50% LVR
1 year 4.15
2 year 4.25
And that was simply by just asking for a better rate. There's probably more in it but for pain vs gain the above rates worked for me.
My strategy of late has been no strategy at all really. I just pick the cheapest rate - or maybe stretch it out a bit if that particular bank is a PITA to deal with. Strong positive cashflow so no immediate stress if rates go up, the amount I've banked with the "non strategy" above over the last 7 years will more than carry me through.
My theory is I'll get plenty of warning on here from the 4% yield 'investors' before the banks knock on my door.Last edited by Simmo; 29-06-2018, 09:35 AM.
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Originally posted by Bluekiwi View PostMy Fixed Rates expire 7/5/2020, I think I can lock in a rate 3 months before that.
Would love that 3 year rate to still be low in April 2020
Only a mere 2.1 million
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Hard bargainers could get up to 100 basis points off a floating rate loan (for example, dropping a rate from 5.95 per cent to 4.95 per cent), Roberts said, and 10-25 basis points off a fixed rate loan.
didn't realise up to 1% was achievable with floating
have you defeated them?
your demons
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Originally posted by JBM View Postlatest rates I just signed up with WP for
Fixed 12 months 4.15%
Fixed 24 months 4.29%
Fixed 36 months 4.60%
floating 5%
ended up putting around 70% of my debt into the 3yr 4.6% --- 20% 1yr 4.15% 10% floating ...goal of course is to pay off the short term and floating over the short term ...then the rest I'm happy to kick back to July 2021 to deal with then....IMHO rates are going be forced higher during 2019
Going from the rates I've been paying I will be saving around $100 per month plus adding in security of the 3yrs fixed term on the bulk of the debt
Back in January 2018, this is what they offered me when I was refixing 3 loans. From memory, these rates were their standard rates back in Jan- but after reading this article, https://www.stuff.co.nz/business/mon...not-so-special, it seems that I should at least be getting the special rates as I'm at 65% LVR and the article is saying the "special rates" are really the ordinary rate for people with less than 80% LVR? (note- these rates offered were via a mortgage broker who I've used forever and trust- I thought was the best way to snag a good rate was via a MB, but maybe I should avoid the MB in the future and make the enquiries myself?
1 year fixed 4.99%
2 years fixed 4.80% (this has been discounted by 0.39%)
3 years fixed 5.05% (this has been discounted by 0.39%)
4 years fixed 5.89%
5 years fixed 6.09%
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Originally posted by deechnz View PostHave you got your PPR loan with Westpac to get these rates? I've always gotten really bad rates from Westpac despite having 6 loans with them, and they've said that I don't qualify for the <80% special rates because I don't have my PPR loan with them (it's with ASB).
Back in January 2018, this is what they offered me when I was refixing 3 loans. From memory, these rates were their standard rates back in Jan- but after reading this article, https://www.stuff.co.nz/business/mon...not-so-special, it seems that I should at least be getting the special rates as I'm at 65% LVR and the article is saying the "special rates" are really the ordinary rate for people with less than 80% LVR? (note- these rates offered were via a mortgage broker who I've used forever and trust- I thought was the best way to snag a good rate was via a MB, but maybe I should avoid the MB in the future and make the enquiries myself?
1 year fixed 4.99%
2 years fixed 4.80% (this has been discounted by 0.39%)
3 years fixed 5.05% (this has been discounted by 0.39%)
4 years fixed 5.89%
5 years fixed 6.09%Last edited by JBM; 02-07-2018, 09:24 PM.
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Originally posted by JBM View PostI have all my lending with Westpac and go direct to Business banking manager for the region ..But as previous poster stated ANZ even better rates
Having said that, my MB did also say "Westpac usually offer better rates if your lending for Investment/Rental was below LVR 60%. But that is also typical of all lenders as they know it would be a lot easier to refinance at those levels where as when above LVR 60% very few lenders will take on the refinance even though they technically can."
So, one more question for you to try to suss out how you got such good rates from Westpac- is your total lending below 60%?
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