Browse Forums Home Finance Re: Home Loan Re-finance 11Aug 15, 2011 9:59 am Quote: current balance is 3+ and my current rate of interest is 7.11 from CBA. ANZ would give you a rate of 6.90% p.a. or 6.95% p.a. on this loan amount. It depends on your LVR. If it is less than 80% it will be 6.90% p.a. And they will reimburse you up to $1,000 to cover switching costs. There are some other options out there too. A good local Melbourne mortgage broker should be able to point them out to you. Patrick O'Brien Re: Home Loan Re-finance 12Aug 17, 2011 1:48 pm Interesting times ahead for fellow mortgage holders, esp with the direction of interest rates in the coming months. To fix or not to fix. . .esp if the GFC escalates, and we have some pretty tempting low rates floating around. Obviously the catch being . .if it stays down . .you'll end up paying a bit of extra dollars. If it goes up . . you might end up losing more. etc etc Re: Home Loan Re-finance 13Aug 17, 2011 2:23 pm trippy To fix or not to fix. . . IMO if you would struggle with any increase to interest rates then by all means fixing is a good option.. if not then I don't see any benefit of fixing.. 9 times out of 10 the bank will benefit from it over picking a variable rate. Re: Home Loan Re-finance 14Aug 17, 2011 2:55 pm Agreed - the bank always win .. lol .. just like the casino..lol. In anycase, given our current circumstances, we'll be staying put with our variate rate with Anz currently, but in the unlikely event that fixed rates drop to 4-5% for over 3-5 yrs .. . it may be a different story .. though that would mean variable rates would be below that as well. oh the dilemma.. Re: Home Loan Re-finance 15Aug 17, 2011 8:41 pm mwa7876 Hi Namz ANZ is offering a subsidy of up to $1000 to offset switching fee cost charged by other financial institutions for Breakfree Package customers for loans more than $250K. What is your current loan balance? If it is high enough I would suggest you call CBA and threaten to leave if they don't decrease your rate. You are better off trying to get them to match a rate offered by another lender than paying $1,400 in fees to leave. CBA are very negotiable at the moment. I have seen them give some good discounts. Cheers Patrick Yeah I received a call today from CBA. They are offering me an additional discount. So as part of my current wealth package i am already getting discount .70% , they are willing to make it .85% discount. In $ terms , it means 25$ of saving every month. If I jump to ANZ , that gives me an saving of 80$ of saving per month on my current installments but ANZ is asking for setup costs which are around 600$ all inclusive.they are waving my breakfree package fee of 395$ for 1st year. So at the moment i am confused what shall i be doing.. Re: Home Loan Re-finance 16Aug 18, 2011 12:07 pm I'm getting 6.81% on CBA Variable WealthPackage on $500K+ loan. I was getting 7.11%, threatened to go to UBank, then CBA gave me the discount. If you don't make an attempt to jump somewhere else, they'll probably never drop it. Re: Home Loan Re-finance 17Nov 15, 2011 8:29 pm namz Guys, I am looking to break away from CBA and look for more options to see if i can save anything. At present I have 2 home loans from CBA . Main one and the top up loan . If I break ( as i am under 4 years) I would have to pay 700$ each on those 2 loans. Do we know there are any banks\lenders who will cover this cost if I switch to them , any such current offers in mkt ? Thanks I'm pretty sure nab will pay the break out fee...sorry no time to research it for you, but here is the link... http://www.nab.com.au/wps/wcm/connect/n ... ce/22/2/69 Re: Home Loan Re-finance 18Nov 15, 2011 9:37 pm NAB was paying a portion of the break-up fee, unless you opted to go for a lower interest rate by negotiation, then the deal was off Although the op has probably moved banks since August The biggest challenge will be if you take out a loan and then run out of money - you'll have an incomplete security and lenders do not like this so you can get stuck.… 2 19623 you were just referred to get advice from your solicitor. This is a legal matter. Separately, why would you use a buyers agent for a house and land package? 3 59524 Hi, you've probably already resolved this, however, Commbank will probably pay the funds to you after you send evidence the work is done regardless the change in the quotes. 1 35733 |