helenandneil Posted February 12, 2017 Share Posted February 12, 2017 Can anyone let me know what the current rates are on Mortgages. I know there will differ from place to place but just an estimate. We are currently looking at Aus houses with the view to moving over in the near future. We have been looking at the ever popular Realestate.com.au When we look at the margate calculator section of the site it defaults to 5.88 % - Why is this?? Is this the current rate?!? it seems pretty high if so!? Any info or advise appreciated :cute: Quote Link to comment Share on other sites More sharing options...
Skani Posted February 12, 2017 Share Posted February 12, 2017 This is a very good comparison website. The variable interest rate seems to be around 3 - 4% from different lenders: https://www.canstar.com.au/home-loans/ Quote Link to comment Share on other sites More sharing options...
Tulip1 Posted February 12, 2017 Share Posted February 12, 2017 Probably about right. Interest rates for borrowing in Australia are far higher than in the uk. Quote Link to comment Share on other sites More sharing options...
VERYSTORMY Posted February 12, 2017 Share Posted February 12, 2017 Hi and welcome to the forum. The first thing I would say is that I would recommend you rent for at least 6 months and probably 12 while you get to know the areas. It is impossible to do that before you get there. For example, when we moved to Perth we were certain we had narrowed it down to two areas. When we arrived, we realised that of all the suburbs, these were the two we liked least. It can also take a while to realise which areas are good and which you wouldn't want to live in. Quote Link to comment Share on other sites More sharing options...
Eera Posted February 12, 2017 Share Posted February 12, 2017 You can anticipate being able to negotiate at least 0.7% off the standard rate, more if you have a large mortgage, or more than one property. I currently get 4.00% through ANZ on a packaged variable, and 3.75% on fixed rate investor. Smaller banks and building societies you can do better through - Newcastle Permanent recently was advertising 3.60% Quote Link to comment Share on other sites More sharing options...
evets Posted February 12, 2017 Share Posted February 12, 2017 As Tulip mentioned, interest rates are higher in Oz than the UK. Check out some of the main bank websites to get a feel, Commonwealth, ANZ, NAB. Search google for brokers to get an idea of the rates they offer. One thing to note, tracker mortgages are not really offered in Oz. I think banks will do them, but best to ask them. Quote Link to comment Share on other sites More sharing options...
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