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That's a big discount - what loan value was it for?

I believe 1% discount is possible on $1m loan with NAB. Their cost of funds is so much lower than Westpac and CBA, although I can see that CBA is trying much harder to compete than Westpac. I really do believe that these banks have different customer profiles, eg. Westpac is likely to have...

6.82% (0.85% discount over entire term) is the ongoing offer from NAB for >$500K loan.

Here's what I found in writing during my lazy research. Obviously I need to do more to get the basics right. https://www.loans.com.au/Documents/LCA_Dream%20Loan%20Xpress_June%2711%20special%20110531.pdf More about this new online business for the wise borrowers to make informed decisions...

My personal view on limitations, particularly for Sydney home buyers: 1. No offset account, hence not suitable for investors who are looking for tax effective structure. 2. Reliability of the 5 year guarantee from FirstMac Ltd is untested. Only time will tell. 3. Only 5 free ATM withdrawals...

It appears that loans.com.au has overtaken UBank as the lender providing the lowest variable rate in Australia - 6.58%, movements linked to RBA's cash rate for 5 years. As usual, take note of the limitations.

Fair point. Keep in mind also that exit costs include LMI that you need to take up with your new lender. If after 3-4 years your LVR is still >80%, you pay LMI again and do not get a partial LMI refund from your current lender for exiting early. In your case, you don't pay LMI now but you may...

Thanks for the update. Ultimately one needs to weigh up the benefit of nil LMI vs greater discount on standard variable rate. My view is that the discount offered by ING and Westpac is still not competitive.

I think what sash meant is she got a privately negotiated deal. There's no link to that. :) No lender would want to publish their 'special' deals. If they do then prospective borrowers will take that to another lender to negotiate a better deal.

I've always wanted to know how nab can set its standard variable rate at 7.67%, lower than other smaller banks: St George: 7.8% BankWest: 7.7% Suncorp: 7.83% BoQ: 7.86% HSBC: 7.74% Citi: 7.8% Has nab always maintained this level of discount margin over other banks in the past 3 years?

I read in the media that Westpac now no longer charges LMI for LVR up to 85%.

I think the rates are relevative to the amount borrowed. If I'm a mining magnate borrowing $5m I'll be confident of getting less than 6.67%. :) What loan amount are you inquiring on?

euro73 - My new loan attracts LMI which implies that my LVR is >80%. I'm applying for a new loan, not refinancing and I require an offset account which UBank doesn't provide. I think it's silly for anyone to take up a loan without an offset account unless he/she is 100% certain that the...

I got 0.85% discount from nab which equates to 6.82% on my <$600K loan that attracts LMI. Is this a competitive rate or am I able to push for 0.9% discount? Unfortunately I don't have >$1m in loan to boost my bargaining power. :)