INVESTORS – BLUE SKIES AHEAD – GET IN BEFORE THE STORM
There is a small gap in the market, where you REALLY should refinance, and you could consider a interest only loan.
The big 4, for a short period of time, will be aggressively marketing and providing interest only loans, and the lowest rates seen in some time.
We’ll be updating this with more information as it comes in
- All 4 banks have followed CBA and have interest only cuts
- Small lenders will have equivalent offers (some principle and interest at comparable rates)
- Westpac is at 22% interest only loans – allowing another 8% before its at its APRA cap
- ANZ is at 14% , allowing a huge 16% before its a its APRA cap
- Canstar has rated a series of ‘non-major lenders’ loans and less expensive
- Mortgage brokers are dominating the market, with their ability to aggressively force lenders to compete
- Banks are reviewing risk stringently – refinance seems a key advantage to take advantage of this change in market
With over 1000 brokers and 3000 loan products at their disposal, PMI has teamed up with Aussie to allow its followers
- Cost free, obligation free review of their current lending
- Free Home Loan report to help assist your review
If you would like to take a opportunity to review your finance, please click here: http://www.propertymarketinvestor.com.au/finance/
1. Westpac cuts fixed rates for first home buyers. All major lenders are likely to follow
2. The proportion of new loans going to first home buyers is just below a five year high
3. NAB has dropped its five-year fixed rate for owner-occupied, principal and interest home loans by 50 basis points, from 4.59 per cent to 4.09 per cent
4. ANZ also dropped fixed rates on its “interest in advance”, interest-only home loans by up to 40 basis points, with rates starting from 4.11 per cent.
5. ANZ – fixed rates on its owner-occupied, principal and interest home loans have fallen by 10 basis points, with rates now starting from 3.99 per cent.
6. Discount Variable rates for owner occupiers, down to as low as 3.79% for loans with an LVR between 80 and 90% from 2nd teir lenders