Mark11 Posted October 2, 2012 Share Posted October 2, 2012 Hi all, I know you are all a very knowledgeable lot and hence why I'll ask... My last question about trike insurance led to a very successful outcome. I'm with ANZ (I can hear the groans and laughter)... I had a fair whack of my Sydney home fixed that has just finished the 3 year period With the rate cut yesterday, I'm looking to re-fix that same chunk However, a guy at work suggested looking for an alternate lender to try to get the best deal. I do have another land loan on a property in tas which I keep separate and variable (same lender) as I'm trying to pay it off so I can retire there! Now you know why I fly a second hand trike!!! Anyway, I guess I'm wondering which lender you would recommend. I'm thinking if leaving the big 4 banks It's only a matter of time until I win the lottery - but until then, I'd appreciate any leads that might save enough money for another lesson or two Regards Mark Link to comment Share on other sites More sharing options...
dazza 38 Posted October 3, 2012 Share Posted October 3, 2012 We have a Portfolio Loan with St George. Works well, in our situation. Everyone is in a different financial situation, with different needs. Maybe worth a look, though. Link to comment Share on other sites More sharing options...
Mark11 Posted October 3, 2012 Author Share Posted October 3, 2012 We have a Portfolio Loan with St George. Works well, in our situation. Everyone is in a different financial situation, with different needs. Maybe worth a look, though. Thanks Dazza, I'll look at that suggestion Cheers Mark Link to comment Share on other sites More sharing options...
Guest Howard Hughes Posted October 3, 2012 Share Posted October 3, 2012 Find the best deal available, then speak to you current lender about getting the same deal, you'd be surprised how keen they are to negotiate! Also saves the hassle of moving banks. Link to comment Share on other sites More sharing options...
Mark11 Posted October 3, 2012 Author Share Posted October 3, 2012 Find the best deal available, then speak to you current lender about getting the same deal, you'd be surprised how keen they are to negotiate! Also saves the hassle of moving banks. Yes, did that last time... It took having an offer from commBank to pursuaide them! Link to comment Share on other sites More sharing options...
Guest Howard Hughes Posted October 3, 2012 Share Posted October 3, 2012 I have the 'professional pack' with Commonwealth, which gives a 0.7% discount off standard variable interest rate and no bank fees. Have hit them up so far for two .05% reductions and am about to hit them up for another as the portfolio grows. There are slightly lower rates around, but last time I looked (about 3 months ago), the difference (after fees) wasn't worth worrying about. PS: Couldn't believe the 'World's second greatest treasurer' yesterday claiming credit for record low interest rates, doesn't he realise that low interest rates also mean bad news for the economy? Link to comment Share on other sites More sharing options...
Mark11 Posted October 3, 2012 Author Share Posted October 3, 2012 Thanks Howard. Ill do some research and see what's the best deal I can find Regards Mark Link to comment Share on other sites More sharing options...
Jabiru Phil Posted October 3, 2012 Share Posted October 3, 2012 Heard that Ubank have competitive rates Link to comment Share on other sites More sharing options...
Guest Howard Hughes Posted October 3, 2012 Share Posted October 3, 2012 Actually did a bit of searching and found them today Phil, they looked good! Wasn't sure if the rate advertised was pre, or post the latest reduction, but it looked cheap!! Link to comment Share on other sites More sharing options...
Mark11 Posted October 3, 2012 Author Share Posted October 3, 2012 Just read reviews for UBank... 5.62% variable or fixed However, sounds like service is lacking and the application process long and painful Currently, CommBank is 5.9% variable and 5.59% fixed 3years or 5.99% fixed 5years This is per any rate cut... I think I'll do comparison spreadsheet and see what I can find Link to comment Share on other sites More sharing options...
Mark11 Posted October 4, 2012 Author Share Posted October 4, 2012 Clearly, the banks are in no hurry to pass in the rate cuts... Greedy b..... Link to comment Share on other sites More sharing options...
Gnarly Gnu Posted October 5, 2012 Share Posted October 5, 2012 Can we move this to the humour section so I put in a spiel about Sharia banking; you want a cut, how about a beheading for late repayment - now that'd be a cut.... Link to comment Share on other sites More sharing options...
bushpilot Posted October 5, 2012 Share Posted October 5, 2012 Well I'm no Economist, (wait a minute - I am in fact), but low interest rates will indeed help fix our economy. It's our relatively high rates (compared with other developed economies) that is causing the in-pouring of foreign investment which in turn is keeping the AUD high relative to other currencies. This then stuffs our exports and we see the results right now in soft agricultural and mining sales - with more than 20,000 people out of work in the past 12 months in those sectors alone.. and more to come. Link to comment Share on other sites More sharing options...
Guest Howard Hughes Posted October 6, 2012 Share Posted October 6, 2012 Well I'm no Economist, (wait a minute - I am in fact), but low interest rates will indeed help fix our economy. It's our relatively high rates (compared with other developed economies) that is causing the in-pouring of foreign investment which in turn is keeping the AUD high relative to other currencies. Low interest rates will not help our economy (devalue the dollar) until they are lower than other 'developed' nations! As an economist you would realise that most developed nations are already at 0- 0.2% interest rates; we still have a long way to go until we see any type of turnaround and/or jobs created! As I said (and you have now pointed out) low interest rates are as much a sign of a poor performing economy as high interest rates, I wouldn't be claiming credit for that! The only way to turn this around is to think long term. Sadly most Governments, CEO's, fund managers and even individuals appear to be incapable of doing this, they are all concerned with short term outcomes, be they power or wealth. Link to comment Share on other sites More sharing options...
bushpilot Posted October 6, 2012 Share Posted October 6, 2012 Low interest rates will not help our economy (devalue the dollar) until they are lower than other 'developed' nations! As an economist you would realise that most developed nations are already at 0- 0.2% interest rates; we still have a long way to go until we see any type of turnaround and/or jobs created! As I said (and you have now pointed out) low interest rates are as much a sign of a poor performing economy as high interest rates, I wouldn't be claiming credit for that! The only way to turn this around is to think long term. Sadly most Governments, CEO's, fund managers and even individuals appear to be incapable of doing this, they are all concerned with short term outcomes, be they power or wealth. Hmmm - reading this tells me this is not the place to be having a debate on fiscal dynamics.. but, yes, I started it! And I can't start to imagine what our Mod would come up with as a subject line when they reset this as a new thread.. if we continued it.. Link to comment Share on other sites More sharing options...
Mark11 Posted October 11, 2012 Author Share Posted October 11, 2012 http://www.canstar.com.au/interest-rate-comparison/compare-home-loan-rates.html I didn't need to do my own comparison... Macquarie Bank looking good Link to comment Share on other sites More sharing options...
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