New loans.
Best discount from commonwealth bank 0.94 off variable rate
- Thread starter tamugrg
- Start date
New loans.
Woohooo......CBA came back with 6.86% and waived the fee for package this year too!
CBA Discount
Hey
I am ona 0.75 discount (ie net rate is 7.06%); my loan is 350K and when i rang CBA, they were quite firm that only loans above 400K would qualify for a better discount unless i can come up with a written offer from another bank?
BTW, only spoke to a call centre; haven't gone to retention team? should i try ?
Hey
I am ona 0.75 discount (ie net rate is 7.06%); my loan is 350K and when i rang CBA, they were quite firm that only loans above 400K would qualify for a better discount unless i can come up with a written offer from another bank?
BTW, only spoke to a call centre; haven't gone to retention team? should i try ?
Did they alsogive you the same rate for viridian loans too? Am interested because I am with CBA and Wespac quoted me 6.97% on my three property loans and 2 viridians.
I havent discussed this with CBA yet but would like to get them to offer me a compromise. Also interested to know whether the discount offered (.94%)with be maintained for the duration of your loans.
What loan amount is this on?
Yes they are for the LOC's also.
Regards
Yes it is applicable to VLOCs. I have 4 home loans and 1 VLOC. Was getting 0.7% off for a loan of 690K with 80% LVR (as of last year). Told them about a great offer from CUA. After that I was referred to the retention team. Then talked to ANZ and NAB. CBA retention team called me and asked for the reate offered by ANZ. I was offered 0.9% off at ANZ. She told me that they would get back to me on the following day. Next day morning, I called CBA and asked for the payout fee. That call centre lady passed my details to the retention team. Within 5 minutes I got a call from the retention team and was offered 0.91% off bringing down the rate to 6.9%. They applied the same discount to VLOC so it is at 7%. But they didn't waive the package fee.
After 3 weeks time, I applied for a new VLOC loan and provided estimates for my PPOR and an IP. The CBA system accepted my valuation and didn't order any external valuation. For the new VLOC by default they are offering 0.85%. I am following up with them to get the 0.91% off.
An update on my situation: I have since spoken with ANZ and been offered 6.85% for my 3 mortgages and 7.00% for the VLOC ... which equates to a discount of .95% .... pretty good.
CBA client retention unit offered me .9% discount however this brings my rate down to just 6.91%. Upon advising them that I can get 6.85% at ANZ they asked for some written confirmation and would contact me within 2 working days with a response.
I also asked them for cost of breaking the loans (all variable) and he advised it would be $350 settlement and $150 admin fee for each of the three loans. Does this sound correct to others on this forum?
hi guys, i've got $1.2 mill, with the cba and have just negoitiated a 1% discount, was on .80 , they 1st offered me .95 i said not enough and they came back with 1.%, also asked them to waiv the wealth package fee, which they hve for 1 year. now on 6.81% and 6.91 % on loc.
good luck all out there, good time to be playing them at there own game, also just got back from an investors meet and there was a westpac rep who was saying that the lending criteria is now softening.... so good news. aslo lvrs are rising....
good luck all out there, good time to be playing them at there own game, also just got back from an investors meet and there was a westpac rep who was saying that the lending criteria is now softening.... so good news. aslo lvrs are rising....
mmmm... I wonder if they will offer the same for refinancing? I am a CBA customer but my loans are not with them. Heading off now to check them out
So, gone into a CBA branch - loan specialist not available.
Gone across the road to NAB, and this is what they have offered me: 6.77% with the 1st year package fee waived, and cover the existing mortgage exit fee max of $700. I had to keep on asking the same questions to make sure I heard it right!
have emailed my current provider for a termination form....
Gone across the road to NAB, and this is what they have offered me: 6.77% with the 1st year package fee waived, and cover the existing mortgage exit fee max of $700. I had to keep on asking the same questions to make sure I heard it right!
have emailed my current provider for a termination form....
1. your service challenges can be overcome right now and forever eliminated
2. your financial future may be made more predictable
3. you can access the equity of your current properties AND use a different lender and not have to pay mortgage insurance.
4. etc
Often, moving all your stuff from one lender to another will not fix the service problem and its for the following reason
I would make a call the your local Westpac branch I've had several good exp from my branch.
1. They have Bank manages you can talk to.
2. They will lend to 85% without LMI increasing you lend potential
It's worth giving them a call nothing to loose a longterm relationship to gain.
2. your financial future may be made more predictable
3. you can access the equity of your current properties AND use a different lender and not have to pay mortgage insurance.
4. etc
Often, moving all your stuff from one lender to another will not fix the service problem and its for the following reason
I would make a call the your local Westpac branch I've had several good exp from my branch.
1. They have Bank manages you can talk to.
2. They will lend to 85% without LMI increasing you lend potential
It's worth giving them a call nothing to loose a longterm relationship to gain.
I wouldn't hold my breathe on getting much more for such a small loan amount (no offense ment by the small loan comment). To put it in comparison for you the standard discount with CBA for 750k+ worth of burrowings is like 0.70-75? so thats 7.11% interest rate and the fact you don't have to pay LMI (as per your other post) seems pretty good deal
Regards,
RH
Hi RH
CBA have given me a .86% discount so a rate of 6.95% on a loan of approx $400k. Well worth asking the question..
Regards
Hi, the amount was $550k however I beleive the more products you have with them the more thier prepared to drop the rate. Worth giving thema call nothing to loose.
1% off standard variable
I didn't have to be aggressive by threatening to go elsewhere or by asking for a discharge form. I stated the facts, they listened and responded. They said that they will give me $1200 to bring my NAB loan over to them. Still thinking about it.
I'm very happy with the result!!!
Just got 1% off standard variable after quoting your post. I'm trying to get the wealth package fee waived as well. My borrowings are a little lower than yours.
I didn't have to be aggressive by threatening to go elsewhere or by asking for a discharge form. I stated the facts, they listened and responded. They said that they will give me $1200 to bring my NAB loan over to them. Still thinking about it.
I'm very happy with the result!!!
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