What Is Your Current Variable Interest Rate on Your Mortgage?

belesci on 18/12/2020 - 23:15

I read a thread couple months ago. Just seeing any updates. Would love to see people commenting with more details.

I know there are many factors into variable rates such as package ,offset account, loan size etc.

But just seeing what rates people are getting currently. I didn’t add fixed rates due to wanting to see how variable rates are going.

I’m thinking of negotiating with my bank currently getting 2.91% on a wealth package with commbank. P&I- Owner Occupied

Poll Options expired

  • 5
    Less than 2%
  • 2
    2-2.09%
  • 4
    2.1-2.19%
  • 6
    2.2-2.29%
  • 4
    2.3-2.39%
  • 2
    2.4-2.49%
  • 6
    2.5-2.59%
  • 17
    2.6-2.69%
  • 10
    2.7-2.79%
  • 10
    2.8-2.89%
  • 4
    2.9-2.99%
  • 16
    More than 3%
Financial Home Loan Loan

Comments

  • SF3 on 18/12/2020 - 23:18
    -3

    I think, more importantly, what is the discount % your bank give you on your variable rate.

    • kipps on 18/12/2020 - 23:25

      Disagree. If anything this should be split as owner occupier vs investor effective rate. Nothing else.

      • SF3 on 18/12/2020 - 23:52

        yes, owner occupier and investor are on different rates, you are right.

  • conan2000 on 19/12/2020 - 01:35
    +1

    2.19% with TicToc, with a $10p/m fee for the offset account, I emailed them as I was on 2.39% and they matched the currently advertised rate. Mortgage is ~$700k, property value around $1.3-1.4m.

    I'd definitely be negotiating your current rate, there are much better alternatives out there. I understand when people are stuck with their bank due to changing financial situation/property valuations etc. But moving banks, as long as you are able, and as much of a pain as it is, can save you thousands per year.

  • Jugganautx on 19/12/2020 - 02:27
    -7

    A better poll would be how much interest is everyone paying.

    I'm on 2.98% but only pay $300 interest a month.

    • Neoika on 19/12/2020 - 09:36

      The less interest you paid in the last few months, the less likely to lower you rate in negotiation.

  • avoidfullprice on 19/12/2020 - 10:12

    https://www.commbank.com.au/home-loans/standard-variable-rat…

    How is your package compared to what's advertised on their website?

    New loan is 3.85%. you have 2.91%. won't they say on the phone you are already ona good deal and laugh at you for negotiating? their cheaper product at 2.69% is not packagable and you will lose an offset and your CC.

    Unsure what the poll will inform you as you have said there are many factors different to your current product. Poll for like-for-like would be more helpful with your negotiation.

  • Soluble on 19/12/2020 - 13:06
    +1

    I'm on the wealth package with CBA, offset account on 2.85%

    • belesci on 19/12/2020 - 13:10

      Thanks mate would you mind telling me the size of your loan? My ones 350k.

      • Soluble on 19/12/2020 - 13:11
        +1

        Only purchased 3 months ago, 680k loan. Had to go with CBA as none of the other banks would take less than 2 years business tax statements

    • popcornready on 20/12/2020 - 11:55
      +1

      Call CBA and push them on the rate, they should get you lower

  • Reliance finance on 24/12/2020 - 02:01

    2.19% Firstmac at 80% LVR.
    2.29% with 0 fees with $3,000 cash back refinance for 1st property and $2,000 for additional properties.

  • hast on 28/12/2020 - 20:03

    2.29 variable with offset wit Suncorp.

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