June Commercial Loan Interest Rate Update

Over the last month we have seen commercial loan interest rates remain stable or fall by up to 30 basis points for some products.

Full doc variable commercial property loans have decreased by 24 points while 2 and 3 year rates have also fallen by up to 30 points for one lender. Other interest rates have remained stable in the last 30 days.

Low doc commercial loans have not changed over the last month unlike their full doc cousins.

Below is an outline of interest rates available from Smart Search Finance below. These are only indicative rates and may vary depending on security type and risks factors associated with the loan.

Commercial Loans – Full Doc Interest Rates (Indicative Only)

Lender Loan Type Security Type Interest Rate Max LVR  
Commercial Reference Rate from Variable 3.40% Up to 75% Enquire
Bank Variable Residential Security 4.20% 80% Enquire
Bank Fixed Rates From Residential Security 4.44% 80% Enquire
Bank Variable Rates From Commercial Security 4.20% 60-75% Enquire
Bank Lease Doc Variable Commercial Security 4.54% 60% to 80% Enquire
Bank Commercial Equity Loan From Commercial Security 5.75% 60% to 75% Enquire
Bank 1 Year Fixed Rate From Commercial Security 4.44% 75% Enquire
Bank 2 Year Fixed Rate From Commercial Security 4.70% 75% Enquire
Bank 3 Year Fixed Rate From Commercial Security 4.44% 70-75% Enquire
Bank 4 Year Fixed Rate From Commercial Security 5.10% 75% Enquire
Bank 5 Year Fixed Rate From Commercial Security 5.24% 75% Enquire

Low Doc Commercial Loans – Interest Rates (Indicative Only)

Lender Loan Type Security Type Interest Rate Max LVR  
Bank Low Doc Variable From Residential Security 5.39% to 5.99% 60% to 80% Enquire
Bank Low Doc Fixed Rate From Residential Security 4.79% 60% to 80% Enquire
Bank Lease Doc Variable Commercial Security 4.54% 60% to 80% Enquire
Non Bank No Doc Commercial Security 7.35% 60% to 80% Enquire
Bank 1 Year Fixed Rate From Commercial Security 4.79% 60% to 80% Enquire
Bank 2 Year Fixed Rate From Commercial Security 5.19% 60% to 80% Enquire
Bank 3 Year Fixed Rate From Commercial Security 5.04% 60% to 80% Enquire
Bank 5 Year Fixed Rate From Commercial Security 5.54% 60% to 80% Enquire

If you are looking for more information on a commercial loans or looking for a better deal please visit our commercial loans website.

We have also updated our commercial loan calculator with more options to calculate the cost of finance.

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Commercial Loans – Calculators Updated

At Smart Search Finance at commercial loans website we have updated our commercial loan calculators.

We have updated the following calculators on the website:

Commercial Loan Calculator – Calculates commercial property loans and has many features that many other calculators do not have. Includes calculations for variable and fixed interest rates, fees, entry and exit fees, interest only repayments, and real interest rate showing the true cost of the loan.

Comparison Rate Commercial Loan Calculator – This is similar to the commercial loan calculator; however, it highlights the real interest rate of the loan after fees and other costs of the loan.

Interest Only Commercial Loan Calculator – Has an interest only option in this calculator.

Business Loan Calculator – Calculates the cost of a business loan.

 

If you have any questions or looking for a better deal regarding commercial property loans, business loans and leasing please contact us

 

If you are looking for a home or investment loans please visit our Smart Search Finance website.

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Banks and Lenders Increasing Variable Interest Rates

Following the big banks, many other lenders will start to increase their variable rate loans. We will keep you up to date on these changes.

 

Bank of Melbourne Variable Home Loan rates

Effective Monday 8 May 2017 Bank of Melbourne will beincreasing the below variable rates.

  • Owner Occupier Principal & Interest Home Loan variable rates by 0.03% to 5.25% per annum (comparison rate 5.42% per annum*)
  • Residential Investment Principal & Interest Home Loan variable rates by 0.31% to 5.78% per annum (comparison rate 5.95% per annum*)
  • Owner Occupier Interest Only Home Loan variable rates by 0.11% to 5.45% per annum (comparison rate 5.62% per annum*)
  • Residential Investment Interest Only Home Loan variable rates by 0.39% to 5.98% per annum (comparison rate 6.15% per annum*)
  • Portfolio loan variable rate by 0.39% to 6.10% per annum

St George Variable Home Loan rates

  • Variable home loan (owner occupier) rate will remain unchanged at 5.30% per annum for customers with principal and interest repayments;
  • Variable home loan (owner occupier) will increaseby 0.08% to 5.50% per annum for customers with interest only repayments1;
  • Variable residential investment property loan rate will increase by 0.23% to 5.78% per annum for customers with principal and interest repayments;
  • Variable residential investment property loan rate will increase by 0.31% to 5.98% per annum for customers with interest only repayments;

AMP Variable Home Loan rates

Effective 3 April 2017, variable interest rates for interest-only loans for existing customers will increase by 15 basis points for owner-occupied loans and 28 basis points for investment loans.

In addition, effective 31 March 2017 for new customers and 3 April 2017 for existing customers, owner occupied principal and interest variable rate loans will increase by 7 basis points. As a result, the AMP Bank Professional Pack owner occupied variable rate loan will increase to 3.92% p.a. for new customers for loans of $750,000 and above.

Adelaide Bank and Bendigo Bank Variable Home Loan rates

Bendigo Bank and Adelaide Bank decided to increase its residential investment variable interest rate by 0.25% p.a. to 6.01% p.a. Standard residential variable mortgage rates for owner-occupiers remain unchanged at 5.48% p.a. The change is effective as of 31 March 2017 for new and existing loans. A further decision was made to adjust the LVR cap on residential investor loans to 80% effective 27 March 2017.

will be increasing variable interest rates for investment loans (both existing and new customers) by 0.25% p.a. effective from 4 April 2017

ING Direct Increase Investment Variable Home Loan rates

ING Direct will be increasing variable interest rates for investment loans (both existing and new customers) by 0.25% p.a. effective from 4 April 2017

 

If you have any questions about this announcement please feel free to contact us.

To view and compare current home loan and investment loans click the link below.

If you are looking for a commercial loan or looking for a better deal please visit our commercial loans website.

compare home laons

 

 

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ANZ and Commonwealth Bank Follow NAB and Westpac



Both ANZ Bank and Commonwealth Bank have followed NAB and Westpac to increase their variable rate loans. They cite regulatory pressure and funding costs to be the main reason for these interest rate increases

ANZ have made the following changes effective 31st March 2017;

  1. Owner occupies who pay principle and interest on their home loans – no change
  2. Standard Variable investment loans and Equity Manager loans increase by 0.25%
  3. Interest only loans for Standard Variable and Simplicity Plus  loans for owner occupied loans and investors increase by 0.20%
  4. Business loans increase by 0.08%

Commonwealth Bank have made the following changes to variable rate loans effective 8th May 2017:

  1. Owner Occupied home loans that pay Principal and Interest (P&I)  for Variable Rate Home Loans will increase by 0.03%  
  2. Investment home loans that pay Principal and Interest (P&I)  for Variable Rate Home Loans will increase by 0.24% 
  3. Interest Only interest rates for all Variable Rate Owner Occupied home loans by 0.25% and Investment Home Loans by 0.26%
  4. Viridian Line of Credit (VLOC) interest rates will increase by 0.26%  for both investment and personal purposes.

We expect other second tear banks and smaller lenders to follow and we will keep you up to date with any changes.

If you have any questions about this announcement please feel free to contact us.

To view and compare current home loan and investment loans click the link below.

If you are looking for a commercial loan or looking for a better deal please visit our commercial loans website.

compare home laons

 

 

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Variable Interest Rates On Hold For March

lender-panel

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Today’s March 7th meeting of the Reserve Bank of Australia (RBA) has announced to keep the cash rate on hold at 1.5%. We expect this to remain stable for the remainder of the year.

In the last months we have seen a number of lenders increasing some of their variable rate products. We have seen increases in interest only loans and property investment loans for new and existing borrowers. This is an attempt to slow down the housing boom by making it more expensive for property investors to make future purchases. However, money is so cheap at the moment that even the small rate rises is having very little effect.

Banks and other lenders are continually reviewing their variable and fixed interest rates and we will keep you updated on any changes that may occur in the next month.

INTEREST RATE ANNOUNCEMENTS

No changes reported.

Current Bank Interest Rates Rate Cut and Date
Adelaide Bank / Bendigo Bank No Change Announced
AMP No Change Announced
ANZ No Change Announced
Bank of Melbourne No Change Announced
Bank of Queensland No Change Announced
BankWest No Change Announced
Citibank No Change Announced
Commonwealth Bank No Change Announced
ING Direct Bank No Change Announced
ME Bank No Change Announced
Heritage Bank No Change Announced
NAB No Change Announced
St George Bank No Change Announced
Suncorp Bank No Change Announced
Westpac No Change Announced

 

If you have any questions about the announcement or interest rates, please feel free to contact us.

To view and compare current home loan and investment loans click the link below.

If you are looking for a commercial loan or looking for a better deal please visit our commercial loans website.

compare home laons

 

 

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February Variable Interest Rates Remain at 1.50%

rba

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Today’s February 6th meeting of the Reserve Bank of Australia (RBA) has announced to keep the cash rate on hold at 1.5%. We expect this to remain stable for the next few months.

Banks and other lenders are continually reviewing their variable and fixed interest rates and we will keep you updated on any changes that may occur in the next month.

INTEREST RATE ANNOUNCEMENTS

No changes reported.

Current Bank Interest Rates Rate Cut and Date
Adelaide Bank / Bendigo Bank No Change Announced
AMP No Change Announced
ANZ No Change Announced
Bank of Melbourne No Change Announced
Bank of Queensland No Change Announced
BankWest No Change Announced
Citibank No Change Announced
Commonwealth Bank No Change Announced
ING Direct Bank No Change Announced
ME Bank No Change Announced
Heritage Bank No Change Announced
NAB No Change Announced
St George Bank No Change Announced
Suncorp Bank No Change Announced
Westpac No Change Announced

 

If you have any questions about the announcement or interest rates, please feel free to contact us.

To view and compare current home loan and investment loans click the link below.

If you are looking for a commercial loan or looking for a better deal please visit our commercial loans website.

compare home laons

 

 

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