by mighty_tiger_79 » Tue Nov 02, 2010 3:55 pm
by Psyber » Tue Nov 02, 2010 4:30 pm
Very sound planning, DA.devilsadvocate wrote: I bought using the FHOG, but I factored in 5 interest rate rises in 2010 and could probably afford to keep repaying my debt even if rates got to 15%.
Imagine being in Sydney/Melb, where some FHB's have loans of 500-600k.
by LMA » Tue Nov 02, 2010 4:52 pm
by Psyber » Tue Nov 02, 2010 4:58 pm
CBA will lift rates on its variable home loan accounts to 7.81 per cent from November 5.
by mighty_tiger_79 » Tue Nov 02, 2010 5:45 pm
by Sojourner » Tue Nov 02, 2010 9:29 pm
by Sturtman » Wed Nov 03, 2010 5:13 am
Psyber wrote:Very sound planning, DA.devilsadvocate wrote: I bought using the FHOG, but I factored in 5 interest rate rises in 2010 and could probably afford to keep repaying my debt even if rates got to 15%.
Imagine being in Sydney/Melb, where some FHB's have loans of 500-600k.
I was paying 8.5% in the late 1960s, 10-12% in the mid 1970s and 14% plus in the late 1980s, and rates under 7% have been uncommon in my experience.
by Psyber » Wed Nov 03, 2010 10:45 am
Sturtman wrote:Yeah but in the 60's, 70's and even early 80's the average price house was about twice the average income. These days its about 7 or 8 times the average which makes it a lot tougher when rates go up. Although i agree when people take out mortgages they should factor in rate rises, so should the banks when deciding if the people can service the loan.Psyber wrote:Very sound planning, DA.devilsadvocate wrote: I bought using the FHOG, but I factored in 5 interest rate rises in 2010 and could probably afford to keep repaying my debt even if rates got to 15%.
Imagine being in Sydney/Melb, where some FHB's have loans of 500-600k.
I was paying 8.5% in the late 1960s, 10-12% in the mid 1970s and 14% plus in the late 1980s, and rates under 7% have been uncommon in my experience.
by GWW » Sat Feb 26, 2011 10:40 pm
by Psyber » Mon Feb 28, 2011 10:31 am
by GWW » Mon Feb 28, 2011 12:53 pm
by Booney » Mon Feb 28, 2011 12:54 pm
by Psyber » Mon Feb 28, 2011 1:09 pm
I've had many mortgages on a number of homes and business properties between 1967 and discharging my last one in early 2009, but I've never paid an exit fee.Booney wrote:I am about to pay a home loan off early and am currently negotiating the early exit fee with my local branch manager. Will be interesting to see what unfolds.
by Booney » Mon Feb 28, 2011 1:12 pm
Psyber wrote:I've had many mortgages on a number of homes and business properties between 1967 and discharging my last one in early 2009, but I've never paid an exit fee.Booney wrote:I am about to pay a home loan off early and am currently negotiating the early exit fee with my local branch manager. Will be interesting to see what unfolds.
The loans, mostly with the ANZ, have always had the option to pay them off early as a standard part of the deal.
Do some banks do this routinely or is it as part of special deals for lower or fixed interest rates?
[ I recall Bank SA used to impose early termination fees with car leases, so I only ever used their quotes to bargain Esanda, or another competitor, down.]
by Psyber » Mon Feb 28, 2011 1:25 pm
Perhaps it is the family connections at work?Booney wrote: I believe it is an almost standard practice to charge an early exit fee. If we look to be having to pay an early exit fee we will pay off all but perhaps $500.
by Dutchy » Mon Feb 28, 2011 10:36 pm
GWW wrote:I was all set to ring the Commonwealth Bank but now i've been advised that I would have to discharge my mortgage and there are fees involved in this with stamp duty etc. With the relatively small amount that i owe, may not be worth it.
Still, i may ring my bank and see if i can put some type of pressure on them to remove the monthly fees.
by mighty_tiger_79 » Tue Aug 02, 2011 3:35 pm
by mighty_tiger_79 » Tue Feb 03, 2015 2:06 pm
by Q. » Tue Feb 03, 2015 2:14 pm
mighty_tiger_79 wrote:bump
interest rates down to 2.25%
by Booney » Tue Feb 03, 2015 2:23 pm
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