Anyone know how long changes to Interest Rate options take to go through online -CBA?
- Thread starter pipsal
- Start date
I just did mine few weeks ago, one took 3 working days, the other took almost a week due to public holiday . I did not use rate lock and did online. I think tb rate lock fee is good if rate is going up.
Ta
Just visit your local branch with the signed form (ask them to email it to you) and they will fix it for you instantly.
I've done a few recent switches for existing CBA clients from variable to fixed, it usually takes them about 2-3 days to process a basic switch.
there was an update sent out this week that it is taking 7 to 10 working days to process the switching requests. Because of the delays they will give you the rate at the time the switch request is received.
For any full loan switches can be done in branch immidately, but if it's a split or something that requires bit more work it's longer as mentioned above, they will still honor the rate at the time of submission.
Taking longer due to the increased volume of switches.
Just do it on line. I locked two loans in last week on line and renewed another 5 year IO term as it would have finished during the fixed term.
I rang the call center and went into two different branches prior and was told by all I could'nt renew the IO term now as the old one hadn't finished.
Gotta love on line business, removes the mupet employee factor
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Tried to lock in 2 interest only variable loans with NAB 7 weeks later still nothing after a number of stuff ups by NAB. Told them last week not to worry about it. I'm going to transfer all my business to ME bank.
I signed the documents to lock in my 4.99% 2 year rate with Westpac on 25 February and find out that the change didn't become effective until 15 April .
That slight delay on their part cost me over $200 in interest charges and I'm not happy.
When I challenged them about it , their excuse was "due to the overwhelming demand for the product their mortgage centre got behind"
That slight delay on their part cost me over $200 in interest charges and I'm not happy.
When I challenged them about it , their excuse was "due to the overwhelming demand for the product their mortgage centre got behind"
same here with nabrequested to have the interest rate fixed for two yrs on the 18-03
3 loans changed to 5.09 not 4.99 as agreed
1 loan increased to 5.68 from 5.5 variable
still waiting now
