choppychugger Posted October 21, 2009 Share Posted October 21, 2009 Hi My first year fixed rate of 4% interest is now over and it has gone up to around 6%. Is this likely to increase much more? Does anyone else have a similar home loan with this bank ? Am currently out of the country and will be back soon to have a chat with my bank manager, just wanted to see if anyone else has experienced this rise after the first year fixed rate is over. Thanks Choppy Link to comment Share on other sites More sharing options...
Redhawk Posted October 21, 2009 Share Posted October 21, 2009 I remember the days we saw 15+ for fixed a year, that were the better days!!! Link to comment Share on other sites More sharing options...
CWMcMurray Posted October 21, 2009 Share Posted October 21, 2009 I do not believe that Thailand offers a Fixed rate mortgage... so the rate will change and interest rates fluctuate. I would say that given that we are on the upswing of the economic recovery it is much more likely that interest rates will increase rather than decrease in the short/mid term. Link to comment Share on other sites More sharing options...
choppychugger Posted October 21, 2009 Author Share Posted October 21, 2009 ^ The term was only fixed for the first year. Guess I'm intrested to see what others on here are getting for the home loans at present. Choppy Link to comment Share on other sites More sharing options...
aurelius Posted October 22, 2009 Share Posted October 22, 2009 Your loan contract will quote your interest rate as "MLR +/- x.xx%" after the expiration of the "fixed" period. Or some loans have 2 fixed periods - the first "very cheap" and the second may be "less cheap" before you get to the MLR +/- state. Current MLR is shown on the bank's website. Most loans can be early repaid without penalty fees after 3 years. Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now