With owners like these .......

[Fro]

Good tip tooks, I'll look into that.

Cheers.

 

[Garts]

Thank fark the only debt I have is the mortgage.  I always clear the credit card every month so I am not paying the high rates. 

 

[Matabele]

I'm not Gen Y and I am doing exactly the same thing, channelling every spare cent in to debt.

but I have a little arrival turning up in June so trying to clear the decks before that happens as we will be 1.5 incomes for a while.

  Baby bonus is $5k these days isn't it?  Sure to help!

Agree with the sentiments of others here regarding rescheduling your loans.  Even our overdrafts have come back to 7% whereas they were close to 12% at the start of the year. 

 

[ManlyBacker]

Channeling all your money into repaying loans and only buying one case of beer a month used to be called being a tight-arse 😛

 

[Fro]

Will be fortnightly payments by then Matas, but yes certainly will help, the missus will go half pay but wont pay HECS while off so it shouldn't be too bad.

Be different actually getting something from the Govt, as opposed to paying taxes for 20 yrs, and seeing teenage ferals getting $5k for just opening their legs.

And yes, the whole loan situation is worth looking at for sure.

And MB it still is, just a fiscally responsible tightarse 🙂

 

[Kiwi Eagle]

Kiwi, you are the first person I've ever heard of who actually purchases a calender.  Over here any shop worth anything gives them away.  Must be an NZ thing.

Can't know too many people DSM 😛 are always those Calendar shops set up in the middle of shopping centres flogging them off

Depends what you are after mate, I normally want something worth looking at on the Calendar at home so leave the freebies at work

 

[DSM5]

Tooks, 6%, where is this bank?  And Kiwi, they're book sellers over here.  Maybe it's the pictures. 

 

[Guest]

Tooks, 6%, where is this bank?  And Kiwi, they're book sellers over here.  Maybe it's the pictures. 

Commonwealth Bank's current standard variable rate is 6.74% pa (they were the only major bank to pass on the full 1% recent reduction in interest rates) and loans over $250k receive 0.70% discount on this rate.

This takes the rate to 6.04% pa and you can obtain a further 0.05% pa discount to 5.99% pa variable if you borrow $500k or more (common loan amount on the northern beaches). 

Westpac just finished a 3 year fixed rate offer of 4.99% pa which was tempting for a few clients.

 

[The Wheel]

Tooks loves the Commonwealth Bank

 

[Guest]

Tooks loves the Commonwealth Bank

I am very sympathetic to any company who employs you wheel.

 

[Garts]

[quote author=DSM5 link=topic=178982.msg204390#msg204390 date=1229486520]
Tooks, 6%, where is this bank?  And Kiwi, they're book sellers over here.  Maybe it's the pictures. 

Commonwealth Bank's current standard variable rate is 6.74% pa (they were the only major bank to pass on the full 1% recent reduction in interest rates) and loans over $250k receive 0.70% discount on this rate.

This takes the rate to 6.04% pa and you can obtain a further 0.05% pa discount to 5.99% pa variable if you borrow $500k or more (common loan amount on the northern beaches). 

Westpac just finished a 3 year fixed rate offer of 4.99% pa which was tempting for a few clients.
[/quote]

Wrong, NAB passed on the full 1%. 

 

[Guest]

[quote author=tookey link=topic=178982.msg204394#msg204394 date=1229488443]
[quote author=DSM5 link=topic=178982.msg204390#msg204390 date=1229486520]
Tooks, 6%, where is this bank?  And Kiwi, they're book sellers over here.  Maybe it's the pictures. 

Commonwealth Bank's current standard variable rate is 6.74% pa (they were the only major bank to pass on the full 1% recent reduction in interest rates) and loans over $250k receive 0.70% discount on this rate.

This takes the rate to 6.04% pa and you can obtain a further 0.05% pa discount to 5.99% pa variable if you borrow $500k or more (common loan amount on the northern beaches). 

Westpac just finished a 3 year fixed rate offer of 4.99% pa which was tempting for a few clients.
[/quote]

Wrong, NAB passed on the full 1%. 
[/quote]

I forgot about them. 

 

[Nutzcraw]

I just took out my home loan with Commonwealth. I shopped around but not extensively. I got the 6.04%

 

[Nutzcraw]

Also, My membership pack arrived today!!

 

[Guest]

I just took out my home loan with Commonwealth. I shopped around but not extensively. I got the 6.04%

On the downside we are both keeping wheel in a job.

 

[Dan]

Mine is with Rams at the moment. I shopped around and in the end it was the best deal at the time.

Looking forward to another rate cut and the 1st year of my Mrortgage being over so i can re-shop around and then try to fix it at the lowest possible rate I can find.

If only we were in the US official rates just dropped to 0.0%

Wouldnt that be nice. I would be putting everything I had into it to reduce the principle whilst I can.

Tookey we don't have the redraw or ability to extend at the moment, need to wait untilt he 1 year is up in May. Then we will be looking to consolidate everything into our home loan and paying the lower rate.

Leanne has staff rates on her CC so its not so bad, and I owe nothing on mine.

 

[Guest]

Mine is with Rams at the moment. I shopped around and in the end it was the best deal at the time.

Looking forward to another rate cut and the 1st year of my Mrortgage being over so i can re-shop around and then try to fix it at the lowest possible rate I can find.

If only we were in the US official rates just dropped to 0.0%

Wouldnt that be nice. I would be putting everything I had into it to reduce the principle whilst I can.

Tookey we don't have the redraw or ability to extend at the moment, need to wait untilt he 1 year is up in May. Then we will be looking to consolidate everything into our home loan and paying the lower rate.

Leanne has staff rates on her CC so its not so bad, and I owe nothing on mine.

Yes not everybody has the ability to extend their home loan now to consolidate other debts but it is good to keep in mind for the future so that you can avoid paying exorbitant interest rates on credit cards.  I hate seeing people with $20,000 or $30,000 debt on a credit card when they have the ability to increase their home loan instead.

Staff credit cards rates are good but if someone doesn't have those then it is worthwhile shopping around for another credit card offer to see if there is one that offers a reduced rate (maybe for 6 months) for balance transfers to try and save interest.

No need to give the Bank's more money that we need to as they only lend it to idiots like Eddie Groves and then write off hundreds of millions of dollars in loans.  The Bank write offs will rival that of the eighties.

People need to forget what Rudd is saying and make use of the low interest rates to reduce their debts and not spend up except to become a screaming eagle member. 

Does your RAMS loan have early repayment fees? 

 

[Dan]

no mate, no penalty for early repayments

 

[Guest]

no mate, no penalty for early repayments

Good

 

[Kiwi Eagle]

Beauty, arrived home form Xmas shopping today to find my pack on the doorstep

Not a bad package this year, and the Screaming Eagles Card with the Premiers on the front looks sensational in the wallet