Browse Forums General Discussion 1 Mar 07, 2014 8:34 pm Hi all, I'm wondering if any of you would know what happen if I locked in the rate and within 90 days comes settlement day the bank drop the rate? I'm pretty sure I won't get the fee refunded regardless but do I have to follow the rate I locked in which is higher? Or will I follow the current rate which is lower? Thanks, Steven Re: Fixed rate lock in question 2Mar 07, 2014 8:46 pm Can always ask but think of it this way. If the rate went up would be happy for the bank to increase your rate without you permission, hense why its a contract. But nothing stopping you getting a new loan after settlement as there are now no big penalties (but there are admin costs). 1 4697 Thank you so much everyone. This all makes a lot of sense. I guess when you talk to a builder who butters up everything to look very polished, you get to start believing… 7 17616 So AFAIk the outcomes of the BAL ratings form part of a clause that allows them to pass these costs on to you. However the more relevant detail is how did it go from 19… 1 9165 |