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Chamomile

Switching to owner occupier rate when you move in

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Chamomile

Has anyone had the experience of switching their home loan rate from the investor rate to the owner occupier rate, when they move into the property?

 

Is it easy to do? I've had the experience the other way (owner occupier rate to investor rate) and that was very easy for the bank to increase the interest rate. So they definitely have the button to do that, but I was wondering if it works just as easily the other way?

 

Let me know if my question doesn't make sense!

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CallMeFeral

It probably depends on the bank tbh. Some make you do a song and dance to change anything, others can be pretty chill if it's minor.

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TinyGiraffe

We are just going through this and our lender needs a range of items to demonstrate proof of residence. Each lender will have a process but for us it has been straightforward.

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