ANZ - Pricing discount WAR!!

[Mick C]

Hi,

Looks like the war btw the bank on pricing is getting more exciting...

ANZ email as of today:

Clients will also receive the 1st year breakfree waiver of $375, and up to $1000 cash back for a refinance

* Loan $250- $500,000 ----- 0.9% discount ( <80% LVR) | 0.85% ( 80%+)
* Loan $500,000+----- 1% discount ( <80% LVR) | 0.95% ( 80%+)

Also 1%+ discount applies for much larger loans and good LVR.

May the best man standing win!


Regards
Michael

 

[devank]

Thanks for that. I was already getting 1% discount but no harm in trying for even more

Any discount on fixed rate?

 

[Mick C]

Thanks for that. I was already getting 1% discount but no harm in trying for even more

Any discount on fixed rate?

There is- normally around 0.15%- but 0.2% is common given the market place as well.


Regards
Michael

 

[Peter_Tersteeg]

Thanks for that. I was already getting 1% discount but no harm in trying for even more

Any discount on fixed rate?

0.15% off for total loans over $250k. If you're already fixed though, I don't imagine they'll be in a position to vary it.

I thing it's time for me to pull my finger out and finally get around to taking care of my own mortgages...

 

[Bigtone]

Hi,


May the best man standing win!


Regards
Michael

every borrower will lose in the end from this.

it is such short sighted policy.

crazy stuff

 

[Rolf Latham]

everyone borrower will lose in the end from this.

it is such short sighted policy.

crazy stuff

we cant expect long term policy where short term financila targets are worked around short term incentives, possibly from the very top down.

ANZ can probably afford it more than anyone else though.

Remember a chunck of their funding comes out of Asia and I suspect is a little cheaper than what the others need to pay............

ta

rolf

 

[Bigtone]

we cant expect long term policy where short term financila targets are worked around short term incentives, possibly from the very top down.


ta

rolf

spot on, works the same in politics really

the small players have no hope

massive market share is always exploited and will again be this time

 

[Aaron_C]

spot on, works the same in politics really

the small players have no hope

massive market share is always exploited and will again be this time

Just beat the banks at their own game.

 

[Token Funder]

The - reduced but still material - dependance of the Big 4 on global capital markets may just have become an issue again.

Just sayin'

 

[Aaron_C]

The - reduced but still material - dependance of the Big 4 on global capital markets may just have become an issue again.

Just sayin'

I doubt it. Overseas funding is low amongst 3 of the 4 majors (ANZ being the exception). They just use it as an excuse to increase their margins - but that, after all, is the way Australian companies do business.

 

[Token Funder]

I doubt it. Overseas funding is low amongst 3 of the 4 majors (ANZ being the exception). They just use it as an excuse to increase their margins - but that, after all, is the way Australian companies do business.

Depends your definition of "low".

Take CBA as an example:

1. 60% self-funded (i.e deposits)
2. 40% wholesale

Of their wholesale funding, a little more than half from offshore (i.e. about 20% of their total)

 

[buzzlightyear]

Depends your definition of "low".

Take CBA as an example:

1. 60% self-funded (i.e deposits)
2. 40% wholesale

Of their wholesale funding, a little more than half from offshore (i.e. about 20% of their total)

TF, do you know how that compares to what it was say in 2007-8?

 

[pennyk]

We've had mortgage with ANZ for a looong time now. The branch mortgage manager rang us for the first time a week or so ago to see if we wanted to refinance. Seems like they are keen for extra business. We currently only get .7% off for breakfree. Sounds like a good time to be negotiating!

 

[PropertyDave]

We've had mortgage with ANZ for a looong time now. The branch mortgage manager rang us for the first time a week or so ago to see if we wanted to refinance. Seems like they are keen for extra business. We currently only get .7% off for breakfree. Sounds like a good time to be negotiating!

Recently arranged an increase with an ANZ branch manager from the 0.7 breakfree to 1.0 off. She originally said the best she could do was 0.9 off but when I got sent the confirmation letter a couple of weeks later it was 1.0, so happy with that for now.

 

[softmonkey]

Visited an ANZ Branch Manager today who confirmed that there is a current campaign for the Breakfree Package with discounts "more than 0.7%", and he didn't bat an eyelid when I mentioned the 1% offer. However he advised that he had no control over the matter and he'd have to send my request to the "Pricing Team" and it would take a couple of days.

Things certainly have changed from a few years ago when a Loan Manager (let alone a Branch Manager) had some discretion in what they could offer!

 

[delfredo]

Recently arranged an increase with an ANZ branch manager from the 0.7 breakfree to 1.0 off. She originally said the best she could do was 0.9 off but when I got sent the confirmation letter a couple of weeks later it was 1.0, so happy with that for now.

What's the loan amount and approx LVR?

 

[devank]

ANZ gave 1% discount two months back. Loan> 750K and LVR was litlle bit less than 80%.
Today I called Bankwest and they agreed to change their loan to a new product and reduce the rate from 7.1% to 6.85%. I have only 290K loan with them so I can't demand much.

 

[JohnHenry]

ANZ gave 1% discount two months back. Loan> 750K and LVR was litlle bit less than 80%.
Today I called Bankwest and they agreed to change their loan to a new product and reduce the rate from 7.1% to 6.85%. I have only 290K loan with them so I can't demand much.

Cool news in the winter season

Hi Sonya,

I've been looking for similar type of loan with Bankwest, while my mortgage broker told me to get 95% loan with Bankwest for semi firewalling benefits.

 

[PropertyDave]

What's the loan amount and approx LVR?

> 1 mill and around 45% LVR which I'm sure helped.

 

[wobbycarly]

Rang the BreakFree team last night and they "can't do anything" as they can only offer the 1% to new customers. Gee that gets my goat, when companies offer great deals to buy new business, and don't bother looking after existing ones! In my industry, it's a whole lot easier to keep existing than get new ones, so we make a point of looking after our existing customers.

Was also in the branch yesterday (making a deposit for a change! ) and they offered an "account review". Maybe I'll take them up on that offer and push for the 1% thru the branch . The breakfree guy told me that a broker or branch is where I'm best to ask - what's the point of the breakfree hotline, then!

Thanks to the OP for drawing my attention to this.