$1000 NAB Cash backs, are they still on
- Thread starter Kanemicm
- Start date
Apparently they're doing it for refinances from Westpac and CBA, to cover the exit fees on those loans.
CBA are offering $1200.
and its cash, I mean $1200 is deposited into your account!!
Here is a little question on this sweetener
Is the rebate "income" ??
I dont think so, but many do
ta
rolf
Is the rebate "income" ??
I dont think so, but many do
ta
rolf
Shame CBA doesn't offer any sweeteners for you to STAY.
I'm having soooo much fun coughing up $700 exit fees to move to other banks since they decided that as they point blank won't revalue my house under any circumstances, I had to go elsewhere.
Charming bunch. I'm badmouthing them at every opportunity I get now.
And even when you refinance away from them you have to spell out the bank you're moving to 6 times until they actually hear you and then hang up on you. Yup, love that phone manner.
I'm having soooo much fun coughing up $700 exit fees to move to other banks since they decided that as they point blank won't revalue my house under any circumstances, I had to go elsewhere.
Charming bunch. I'm badmouthing them at every opportunity I get now.
And even when you refinance away from them you have to spell out the bank you're moving to 6 times until they actually hear you and then hang up on you. Yup, love that phone manner.
What else did your bank manager say? Brokers are evil/incompetant/useless?
Did they say it was easier to get your loan approved direct with the branch?
That its more expensive with a broker?
CBA were notorious for channel conflict between the branch and broker until they realised they were only cutting their own throats by offering discounts to outcompete the broker market.
It still happens, but a lot less than it used to.
I doubt there would be a diference in rebates between proffessions, but anythings possible.
Did they say it was easier to get your loan approved direct with the branch?
That its more expensive with a broker?
CBA were notorious for channel conflict between the branch and broker until they realised they were only cutting their own throats by offering discounts to outcompete the broker market.
It still happens, but a lot less than it used to.
I doubt there would be a diference in rebates between proffessions, but anythings possible.
Tell them if they hangup you will call up and ask to put a complaint against them.
Ensure that you get the person who you speak to loggin and view your account. The banks have a stringent audit process which tracks views and changes to your account. So if the person at the other end does this you you can complain as the trails will reveal who took your call.
I mention this to person if they can't handle me....usually they are more maleable as it affects their performance rating if too many customers complain.
Ensure that you get the person who you speak to loggin and view your account. The banks have a stringent audit process which tracks views and changes to your account. So if the person at the other end does this you you can complain as the trails will reveal who took your call.
I mention this to person if they can't handle me....usually they are more maleable as it affects their performance rating if too many customers complain.
Having seen the financial planning side of the equation, it woudn't surprise me if some banks did give a slightly higher rebate with accountants and planners.
It's also worth noting that the loan products being promoted through financial planners for the CBA/Colonial has an additional application fee of $500 and the interest rates are substantially higher than those offered through the broker (or branch) channel.
The commissions paid to financial planners are way better too, but it's being promoted as a way to isolate clients, giving comprehensive financial and debt advice. The only real benefit to the client that I can see is a more flexible loan structure, although it's all done via line of credit arrangements, nothing that actually amatorises at some future point.
The product has it's good points, but for the most part it's quite expensive and can usually be acheived with any one of several compeditors products at a much cheaper price to the customer.
From the way the presentation was pitched, I also gathered that financial planners and accountants don't know squat about how to actually write a loan. If your accountant of financial planner is offering debt advice, ask them what their experience in mortgage broking actually is, or get a referal to a specialist.
tobe - from what I heard thru some gold coast sources nab cut a stack of their non licenced referrers and those that stayed on had that comms cut significantly.
kanemicm - with the broker v planner - most planners arent receiving a full upfront which is why banks might do a bit more. Then again not all planners are licenced brokers as well as many wish to keep a total separation of this business
if someone is swayed by a 1000 rebate they're paying it back somewhere
Cant wait to see in a years time all the whinges about how people refinanced for 1000 cashback then the bank knocked their next loan application back, and its the banks fault...
I wonder if I could equate it to people having kids just to get the baby bonus.
kanemicm - with the broker v planner - most planners arent receiving a full upfront which is why banks might do a bit more. Then again not all planners are licenced brokers as well as many wish to keep a total separation of this business
if someone is swayed by a 1000 rebate they're paying it back somewhere
Cant wait to see in a years time all the whinges about how people refinanced for 1000 cashback then the bank knocked their next loan application back, and its the banks fault...
I wonder if I could equate it to people having kids just to get the baby bonus.
