Rate rises and your mortgage

[The DoggFather]

good one!
I told a random bloke last week at the yeeros shop before leaving that “I don’t do anything in life unless a computer tells me what to do”.

PS welcome back bro you tall **** lol

 

[cookieman909]

I fixed my loan 3 years ago at 2.53%. Got an email tonight saying my loans going to jump to 8%. Repayments jumped $1600 a month ($400 a week). Yet the ***** advertise 5% for new customers. Where’s the loyalty? Interested to hear what percentage others are on for variables.

Booked an appointment to speak to the lender. They should be rate matching surely

 

[Doogie]

I fixed my loan 3 years ago at 2.53%. Got an email tonight saying my loans going to jump to 8%. Repayments jumped $1600 a month ($400 a week). Yet the ***** advertise 5% for new customers. Where’s the loyalty? Interested to hear what percentage others are on for variables.

Booked an appointment to speak to the lender. They should be rate matching surely

Mid 4's. Big bank too.

Good luck. Might be best to speak to a broker. Will give u some options.

 

[coach]

I fixed my loan 3 years ago at 2.53%. Got an email tonight saying my loans going to jump to 8%. Repayments jumped $1600 a month ($400 a week). Yet the ***** advertise 5% for new customers. Where’s the loyalty? Interested to hear what percentage others are on for variables.

Booked an appointment to speak to the lender. They should be rate matching surely

8% that’s horrible even in the current climate

 

[Doogie]

8% that’s horrible even in the current climate

Thats around the current fixed rate. Maybe read the letter and saw the 8% and missed the bit about if you fix again?

or could be investment.

 

[cookieman909]

Thats around the current fixed rate. Maybe read the letter and saw the 8% and missed the bit about if you fix again?

or could be investment.

Nah email said "estimated variable". I thought 8% was shockingly high. Just going to wait to speak to them in a few weeks. In the meantime will look into a broker. Was expecting a jump to around 5%. At worst 6%.

 

[NPC83]

I fixed my loan 3 years ago at 2.53%. Got an email tonight saying my loans going to jump to 8%. Repayments jumped $1600 a month ($400 a week). Yet the ***** advertise 5% for new customers. Where’s the loyalty? Interested to hear what percentage others are on for variables.

Booked an appointment to speak to the lender. They should be rate matching surely

8% would be the standard variable with no discount mate. They probably didn’t price in a discount to the standard variable after your fixed period expired. Just simply ask what so the best discount they can give off the standard variable.the stronger your LVR (loan to value ratio) the more likely you are to obtain a bigger discount.

 

[cookieman909]

8% would be the standard variable with no discount mate. They probably didn’t price in a discount to the standard variable after your fixed period expired. Just simply ask what so the best discount they can give off the standard variable.the stronger your LVR (loan to value ratio) the more likely you are to obtain a bigger discount.

Yeah that’s what I’m hoping. Was just a shock to the system seeing my loan could potentially increase $400 a week. I don’t have a massive loan and have taken 100K off the principle. Have good equity so hoping to get something more reasonable. And sounding dumb, I’m a tradie I don’t get all this loan stuff. LVR? What’s that mean?

 

[Doogie]

Nah email said "estimated variable". I thought 8% was shockingly high. Just going to wait to speak to them in a few weeks. In the meantime will look into a broker. Was expecting a jump to around 5%. At worst 6%.

well - your bank is engaging in anal rape. which like any girl thats into pegging...

time to find another girl.

LVR is loan to value ratio. Basically wank speak for equity %.

 

[cookieman909]

well - your bank is engaging in anal rape. which like any girl thats into pegging...

time to find another girl.

LVR is loan to value ratio. Basically wank speak for equity %.

Yeah thought I was getting bent over with no lube. Hahaha.

 

[NPC83]

Yeah that’s what I’m hoping. Was just a shock to the system seeing my loan could potentially increase $400 a week. I don’t have a massive loan and have taken 100K off the principle. Have good equity so hoping to get something more reasonable. And sounding dumb, I’m a tradie I don’t get all this loan stuff. LVR? What’s that mean?

All good mate just lending / finance jargon. Loan to value ratio is your loan in relation to the property value eg if your loan is at $50k and your house is worth $100k then your Loan to Value ratio is 50%. Hope that makes sense. Well done on paying down so much principal too.

 

[Natboy]

Mid 4's. Big bank too.

Good luck. Might be best to speak to a broker. Will give u some options.

You current rate as of today is mid 4’s?

 

[Natboy]

I fixed my loan 3 years ago at 2.53%. Got an email tonight saying my loans going to jump to 8%. Repayments jumped $1600 a month ($400 a week). Yet the ***** advertise 5% for new customers. Where’s the loyalty? Interested to hear what percentage others are on for variables.

Booked an appointment to speak to the lender. They should be rate matching surely

You’ll call them and they’ll make out they are giving you some massive discount but it won’t be great. Keep pushing or use a broker and you’ll get mid 5’s easily enough on a small loan, not under 5 though

 

[BELMORE]

I fixed my loan 3 years ago at 2.53%. Got an email tonight saying my loans going to jump to 8%. Repayments jumped $1600 a month ($400 a week). Yet the ***** advertise 5% for new customers. Where’s the loyalty? Interested to hear what percentage others are on for variables.

Booked an appointment to speak to the lender. They should be rate matching surely

Call them and just ask for the lowest rate, or ask for mortgage discharge forms and they will put you through to the retention team. You are able to get around 5-5.5% variable with full offset at big and small banks at the moment

 

[Doogie]

You current rate as of today is mid 4’s?

Yep. 4.63. Not sure why you're interested though - with your massive bank account you could pay 30%

 

[MattyB]

But all jokes aside, I feel for the people coming out of their fixed term period...

that's me, from April, it will go from 2.1% to god knows what

 

[Natboy]

Yep. 4.63. Not sure why you're interested though - with your massive bank account you could pay 30%

You have been known to tell a lot of lies and I doubt that’s your rate, maybe 3 months ago.

I’d rather invest money than have a massive bank account earning granny interest rates

 

[Doogie]

You have been known to tell a lot of lies and I doubt that’s your rate, maybe 3 months ago.

I’d rather invest money than have a massive bank account earning granny interest rates

Quick google showed some third party lenders, LVR in spec are doing 4.7 - 4.8 and you think I'm lying. With offsets etc. - possible to get below 5 with a good broker or in my case - a leg up from a big four bank exec mate of a grand total of 0.2%. But u think I'd show off an interest rate on a sports forum as what - some kind of sucked in to all the strugglers?

Isn't that your gig moneybags? When people are complaining about what the rate changes are you still have to talk to your investment strategy.

And the latest - u actually went into my profile and put a reaction against my profile? Do u really have nothing better to do than chase me around and show off the cash to the rank and file kennelers.

Guess it proves money doesn't buy happiness. Sad fck.

 

[Natboy]

Quick google showed some third party lenders, LVR in spec are doing 4.7 - 4.8 and you think I'm lying. With offsets etc. - possible to get below 5 with a good broker or in my case - a leg up from a big four bank exec mate of a grand total of 0.2%. But u think I'd show off an interest rate on a sports forum as what - some kind of sucked in to all the strugglers?

Isn't that your gig moneybags? When people are complaining about what the rate changes are you still have to talk to your investment strategy.

And the latest - u actually went into my profile and put a reaction against my profile? Do u really have nothing better to do than chase me around and show off the cash to the rank and file kennelers.

Guess it proves money doesn't buy happiness. Sad fck.

Hahahahaha caught out lying yet again and then you bring up third party lenders, offsets and “mates rates” from a bank hahahaha and they say drugs don’t cause brain damage hahahaha

You made a comment about my bank account but I just pointed out that’s a poor investment strategy. You told us you were intelligent

 

[Doogie]

Hahahahaha caught out lying yet again and then you bring up third party lenders, offsets and “mates rates” from a bank hahahaha and they say drugs don’t cause brain damage haha

lol - shows how long its being since you've had a owner occupier mortgage. take out my 0.2% bonus and its the same anyone can get if they hunt around enough. Which is 4.83. Oops - unloan a CB refinancer are offering 4.7. Bendigo are offering 4.7. U have no fckng idea as usual.

Or they can go the bank of Natboy. Throw out the spare change to struggle street moneybags. C'mon - couple of mill is spare change - u sure love to tell us all about it. Sure u got plenty to spare.....