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Katherine W.
Katherine W.
Oakleigh, VIC

Our rate went from interest only to principal and interest 6 months ago and the rate is 4.19%. It seems high, what's the best rate we could get?

3 years ago


Hi Katherine,

The answer to your question will depend on a few more questions being answered. Your own personal situation, LVR (loan to value ratio), whether you are now looking at Interest Only Loans now or Principal and Interest on your property are factors which will dictate the best rate you can get.

Some lenders have great deals at the moment some as low as 3.59-3.65%.

I work as a mobile broker with access to a panel of over 25+ lenders, I am happy to come and meet with you to discuss you personal situation in a Free, No Obligation appointment.

If this is something that interests you. You can contact me on 0431.156.001.


Jacqui Milway

Hi Katherine,
I agree with Jacqui, there are a huge number of variables that determine your eligibility for a particular lender or product.
Assuming you are PAYG employed, have a metro low density property, borrowing less than 80% for owner occupied purposes then you could get those rates around the 3.6% mark for P&I repayments.
Meet with a broker and go through all the aspects of your needs and current situation and then the right loan will become clear
Best of luck

Dangerous Question
A quality broker will need to work with you and complete a full analysis ( known as aFact Find )
They need to present you a Credit Guide and a Privacy Act before discussion

I always aske a client do you want a cheaper rate or a cheaper loan ( yes there is a difference)

And the loan must be suitable for your own personal goals , dreams and aspirations

I appreciate this does not answer your question BUT we operate under specific guidelines and must at all times protect the integrity of the transaction

One thing I can say Any loan starting with a 4 is well overs

Good Luck

Hi Katherine,

Yes 4.19% deos seem a bit high. However, I can't answer your question without knowing your individual circumstances. One size does not fit all in this case!

I'm close to Oakleigh so if you wanted to get together and have a chat, I'm happy to assist you and once I understand your situation fully, I could offer you a choice of loan products from a number of lenders that would be well suited to your needs and at a better rate than you are currently on.

Please give me a call to set up a time.


Michael Budge
Bayside Finance Groujp
M 0418 547337
E michael@baysidefinance.com.au

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