I have a loan of $650000. I have variable rate of 2.64%. Should I consider to do split? Can you please help me to save on my interest. I have 100k offset as well.
Home Loan $650k - Should I Fix Rate or Variable or Split?
raul7650 on 03/01/2021 - 14:25
Last edited 03/01/2021 - 15:13 by 1 other user
Last edited 03/01/2021 - 15:13 by 1 other user
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Here's a tip for you: this post and your last post had the title all in capitals. In internet world, that's considered shouting and quite off-putting.
im sorry
No sorry, just fix it.
Are you thinking of selling in the next 2 years?
If not split 100%, you’ll save around 2k a year if you split 400k @ 2.14%.
what im planning to sell it? how much is break fee
not worth it LOL.
Maybe go online and do some research about this.
Contact your friendly financial Institution. Are you still waiting for loan approval? Refinance with Major Bank - Has Been Months without Approval
What is your fixed rate?
You can always do a 50/50 split and fix. I think unless RBA goes negative it is unlikely interest rates will go down further. RBA would do a lot more QE before going for negative rates, as Europe shows. Negative rates is not the answer.
2 percent fixed rate. you think ill save more money?
It's scary to think that people are borrowing $100000s to invest but can't work out which interest rate is best.
Are you with Macquarie? There's other factors to consider - with Fixed you don't benefit from 100% offset, and you're limited with additional payments you make. Everyone's circumstances are different, so you need to research what is better for you.
im with commbank, got 100 percent offset. just want to know if i can save more if split the loan because they offer 2 percent fixed rate for 4 years.
You can't offset fixed loan. So you want to split out 100k variable at least to offset.
also got 100k offset savings
Is it investment or owner occupied?
Can’t decide on important manners, post (with no context) on OzB to seek direction.
Plot twist - remaining loan term is 1 year so interest rates don't matter
plesae help