betsyboob

can anyone tell me, what are the best rates for mortgages in Oz, We are currently on 5.4% so i think we may have a shock!

wmoore

Have a look at some of the big bank sites. I haven't got a mortgage so it's not on the tip of my tongue but I believe it's about 9%

www.anz.com
www.commbank.com.au
www.nab.com.au
www.boq.com.au

Mairead

Also try www.ratecity.com.au

@boy

The current variable rate from all of the banks is between 9.27% and 9.36%.
If you are borrowing more than 250k, most of them do a discount of approx .7% off advertised rate for the life of the loan.

longreach

Around 8.7%

That is incorrect. Min loan size is $50,000

LDU1

Hiya

RAMS is curently 9.4% if you are on a low-doc loan

jad n rich

News last night was saying NAB had raised rates to 9.3%.

Amazulu

You could probably get a discounted rate under 9% if you shopped around. I find it is best to use a mortgage broker to do this.

bcworld

If you are happy with a 'no frills' mortgage product then there are still rates around in the low 8%'s.

http://yahoo.infochoice.com.au/banki...t=VariableRate

But, you have to be keep in mind if these are flexible enough to meet your likely needs / the fees invloved if your circumstances change etc.

longreach

Or you could get a rate of around 8.7% including free bank account, credit card, online access, offset facility, etc and no expensive early repayment fee with one of the major banks

Remember to check the comparison rate

longreach

It amazes me how many people pay the standard variable rate instead of seeking alternatives

Amazulu

Exactly. Anyone who pays the bank's standard rate on a new loan is an idiot. I got a quote of 8.6% from Suncorp last week - and I reckon I could have got it a bit lower too.

@boy

yup - our rate is 8.62 with Suncorp (the .7% discount off their adv var rate)

Ironically, I am a perm employee with ANZ bank and their internal mortgage advisor cannot offer a rate to match, so my home loan will continue to remain with Suncorp for now ;-)