Menu

About us

HashChing is Australia’s first online marketplace allowing consumers to access great home loan deals without having to shop around. Completely FREE to consumers, HashChing connects you directly to verified mortgage brokers who can further negotiate a better rate from the lenders and save you time, hassle and money.

Contact us
person img
broker img

Milan

1 year ago

Hi Scott, Most definitely. However there are certain lenders that will provide you with lower interest rate with only just refinancing for which we'd need to investigate your case scenario and see what's most competitive. For anything like benefits to your I/Only home loan you'd best be contacting your accountant to see the most beneficial scenario. Please let me know if you like more answers directly via clicking on my profile pic and further inquiring as the only way to find out more information. These answers to your question may be high level and not going to give you an answer until you speak to a broker directly. I am happy to speak to you and provide you with some one on one solutions related to your scenario specifically and then let you and your accountant decide your preference. Kindest regards, Milan

Report this reply as inappropriate:
Reason is required Message is required   or  Cancel
verified icon broker img

Sharon

1 year ago

Hi Scott there are lenders who will consider the purpose of the funds to determine the applicable interest rate whilst others will consider the security being offered (and price accordingly). Feel free to contact me to discuss the difference in interest rates and if it will make a difference to your situation.

Report this reply as inappropriate:
Reason is required Message is required   or  Cancel
broker img

Richard

1 year ago

Hi Scott, there may be an opportunity to improve your existing rates particularly if the loans are with different lenders. Having said that, you may want to weigh up Principal & Interest and Interest Only options given Interest Only rates are ~ 0.50% higher than Principal & Interest rates following APRA's decision to introduce investment and interest only lending caps in recent years. Since APRA introduced Interest Only lending caps in April 2017, many lenders frown upon Interest Only "Home Loans" because it makes no sense to delay the repayment of a home loan that 1. is not tax deductible, 2. doesn't earn rental income and, 3. doesn't qualify for building depreciation tax deductions. You should seek some advice from you accountant before commingling your home loan and investment loan as there are very strict ATO rules that apply to existing loans. Over recent months, I have seen many Interest Only borrowers refinancing (switching) to Principal and Interest loans to take advantage of cheaper Principal & Interest rates (relative to Interest Only rates). regards Richard

Report this reply as inappropriate:
Reason is required Message is required   or  Cancel
broker img

Peter

1 year ago

You can have more leverage in regards to interest rate pricing based on the total of the combined lending amount for both your owner occupied loan and your investment loan. Thats where a independent mortgage broker can work on your behalf to get the best outcome for your specific scenarion and objectives. Feel free to contact me if you wish to discuss in more detail.

Report this reply as inappropriate:
Reason is required Message is required   or  Cancel
broker img

Luke

1 year ago

Lenders will normally price their loans based on your predominate loan purpose, where others will price based on the type of property the loan is secured against - so it depends on your unique situation. I would also ensure you get advice from your accountant as by combining an owner occupied and an investment loan, it may make things tricky come tax time. Good luck and send a message through if you have any more questions!

Report this reply as inappropriate:
Reason is required Message is required   or  Cancel

New home loans from 2.89%

Find out more

Loan Calculator