Recently I posted an article with comparison tables on cost of loans for both small <$250k and big >$1 million deals. http://www.peachhomeloans.com.au/mortgage-news/2011/09/mortgage-rate-discounting-very-common
Rate discounting is hot – with lenders BDM’s crying foul over the antics of CBA and ANZ. However it isn’t just the big boys who are joining in – Heritage are offering 6.35% P&I variable on loans as is AMP – Macquarie are 6.39% on loans under 80% P&I or 75% IO and there are many others.
What is more important for many customers at the moment is Macquarie are also offering 48 hours approval turn around …. try getting that on anything but the plainest vanilla deals from the big guys – even if you play golf with the manager!
