Best discount from commonwealth bank 0.94 off variable rate
- Thread starter tamugrg
- Start date
NAB will do 1% off anything over a $1m for sure.
I had 6.87% with CBA with loans under 700k....am looking at trying to get 6.67%. I know that 6.77% can be done for loans over $1m.
As for being polite....it did not get me anywhere. So I called to have paid out figures....that changed the mix.
Not in my nature to be aggressive. Someone I know did the same as you (asked for a discharge form) and only got .94% off while I got 1%. All you have to do is send the retention team a link to this thread and they will move.
Would be interested to see how much in total this thread has "saved". May be the most profitable thread on SS.
unless the purpose of the offset is to isolate your tax paid funds from current or notional future investment debt
ta
rolf
So far saved me about $3000 for the year. Hope to save another 5000 - 6000 after negotitating with other banks apart from CBA.
Definitely the most "profitable" thread for me.
Be very careful with CBA and Westpac.....they are the banks most under pressure from funding and quality of loans.
I previously not a fan of ANZ (too conservative) and NAB (poor service)...my have things have changed. I am finding NAB's service palatable and ANZ more flexible....they are offering 0.9% of anything over 500k and 1% over 750k!
The only thing you need to be aware of is that they take the IR you are paying and ad 1.75% to the repayments but also factor in neg gearing benefits and 75% of rent. So they are conservative but their numbers still work for me.
Would be concerned more about what CBA and Westpac will do if their loan portfolio which is very heavily expose the FHB after GFC tanks. The number of mortgage defaults are up and most of these are people who got in with the 14k grants.
I previously not a fan of ANZ (too conservative) and NAB (poor service)...my have things have changed. I am finding NAB's service palatable and ANZ more flexible....they are offering 0.9% of anything over 500k and 1% over 750k!
The only thing you need to be aware of is that they take the IR you are paying and ad 1.75% to the repayments but also factor in neg gearing benefits and 75% of rent. So they are conservative but their numbers still work for me.
Would be concerned more about what CBA and Westpac will do if their loan portfolio which is very heavily expose the FHB after GFC tanks. The number of mortgage defaults are up and most of these are people who got in with the 14k grants.
Hiya
Just got a discount of .9% off SVR; my net interest rate is now 6.96% ....
and i haven't tried AGGRO yet
BTW, CBA is also net 6.96% (and my loan is only 350K)
Until you are an existing client
then any normalish loan variation like IO var to IO fixed or an IO renewal or an IOA change from IIR requires a full loan app with full vals and financials
Once folks know that they sometimes reconsider their position.
In addition, ANZ serviceability model is on the loeer quartile in the mix wit the likes of CBA
Ita aint all roses..............
They pay a better broker comm than many lenders laregy because they have to
ta
rolf
UBank is funded by NAB but its not NAB- its UBank. Can you get 6.59% from NAB?
If you dont need an offset, its definitely the hottest rate around at the moment. CBA is "better" than loans.com.au? Hmm... this is where the word "better" needs to be explored. Better rate? Better service? Better features? Better borrowing capacity? Better fees? You're getting a 1% discount. Don't think of it as 6.81%. Think of it as 1% off the SVR. Factor in the CBA's demonstrated penchant for SVR movements in excess of the RBA, and that equation can change for you in the blink of an eye. Then factor in the 5 year RBA rate track guarantee from loans.
You're also paying an annual fee to CBA for their product so all in all the comparison rates are probably a bit dearer at CBA than at loans.com.au, where you can get a fee free Offset product with 10 splits, for a 6.79% comparison rate( because of the additional discount after year 5) Also, the CBA offset is a bit of a claytons.
You're getting a great deal for sure-and Im not suggesting changing, but all Im saying is that this obsession everyone has with CBA and Westpac is ludicrous, if for no other reason than giving complete control of your portfolio and borrowing capacity to one lender is dangerous.
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Could not have said that better......at the moment CBA and Westpac are less attactive as lenders because they are likely to feel the rates pressure earlier than NAB or ANZ.
Have a look at my CBA Valuation post...and the response Ross McEwan gives...and to think he is potentially the next CEO of CBA?? The have got to be kidding.....
Have a look at my CBA Valuation post...and the response Ross McEwan gives...and to think he is potentially the next CEO of CBA?? The have got to be kidding.....
UBank is funded by NAB but its not NAB- its UBank. Can you get 6.59% from NAB?
CBA is "better" than loans.com.au? Hmm... this is where the word "better" needs to be explored. Better rate? Better service? Better features? Better borrowing capacity? Better fees? You're getting a 1% discount. Don't think of it as 6.81%. Think of it as 1% off the SVR. Factor in the CBA's demonstrated penchant for SVR movements in excess of the RBA, and that equation can change for you in the blink of an eye. Then factor in the 5 year RBA rate track guarantee from loans.
You're also paying an annual fee to CBA for their product so all in all the comparison rates are probably a bit dearer at CBA than at loans.com.au, where you can get a fee free Offset product with 10 splits, for a 6.79% comparison rate( because of the additional discount after year 5) Also, the CBA offset is a bit of a claytons.
You're getting a great deal for sure-and Im not suggesting changing, but all Im saying is that this obsession everyone has with CBA and Westpac is ludicrous, if for no other reason than giving complete control of your portfolio and borrowing capacity to one lender is dangerous.
the entire portfolio.
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.
sometimes I wonder whether people read the threads before they post
You can get better than that at UBank with a 50K loan minimum !!!!
It's really dangerous to leave all your loans with one lender for the sake of 5 or 10bpts. You are handing that lender complete control of your borrowing capacity.
Also... anyone familiar with the "all monies" clause???
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.
sometimes I wonder whether people read the threads before they post
You can get better than that at UBank with a 50K loan minimum !!!!
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 property will never be turned into an IP in his/her lifetime and a redraw will never be required to fund a PPOR property purchase.
And just to be clear, yes I've read the threads from page 1 before posting.
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?
Say $2M to $3M in borrowings...
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?
The likes Mike Palmer and Gina Reinhardt dont need to borrow 5 mill
In either case, it would be like the average OZ person looking to borrow lime 1/1000th of their net worth
ta
rolf
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