Best variable interest rate???

[Mick C]

Hi mick
what do u think would b the max discount on a 2.25mill loan with anz
what do u think would b the max discount on a 720k loan with cba

I presuming your an existing customer of both banks with those amount.

2.25m ANZ - around 4.38%- 4.40% because your an existing customer.
720k with CBA - around 4.40% due to loan size.


if your creative and your loans are free standing...you can do a "switch" on your loans + take out equity while your at it...ie place 1 of your ANZ loan over to CBA and than later switch your old CBA loan over to ANZ ...that's one way to consider you as a new customer due to the sizable "lend"

You will find you be able to get
4.30- 4.33% and possibly under with ANZ and CBA.
+ they will pay for your switch cost via a cash back as well.

But really if your already close to these rate..there's no point changing for anything less than 0.20% basis point...

Cheers

 

[Bran]

This week - variable 4.39%, 95%, no LMI. Medical special.

ANZ, 5.78%, and 5.68% - refinancing the former to St George for 5.54ish, and $1250 attraction bonus (covers the 550 odd exit)

 

[remingbi]

thanks mick
so if it was as a new customer with anz that is 1.33% off svr.(i.e. 4.3%)
have u seen them go to 1.35% or even 1.4%
so if it was a new customer with cba 720K loan that is 1.25%off svr(i.e. 4.4%)
have u seen them go lower on this loan range

thanks again

 

[Martin Walmsley]

Total loans $1m - $1.7M

Currently as a rule...pretty much close to their max discount with some discretion( We have been applying these discount for our new customer and also existing customer of the retrospective big 4 banks)

4.38% ANZ ( 1.25% discount) -- not dependent on LVR

4.35% CBA ( 1.30% ...closer to the $1.2 m mark) under 80%

4.29% NAB broker ( 1.37% ....closer to the 1.5M mark and new to bank only + LVR under 75% preferred)

4.40% Westpac ( 1.30% ...closer to the $1.4M mark...new to bank preferred )

For the bigger loans over $2M -- case by case but def a touch lower still.

For the smaller loans under $1m ( ie sub $300k and $500k loans)
Best to stick and negotiate with the tier 2 banks - ie Suncorp/citibank/ ING/Credit unions/ Bankwest/ St George etc...Rate from sub 4.35% as well.


It's a competitive market right now!!! Let the feet do the talking... happy negotiating

Thank you

You basically proved my point

4.20 obtained 1 mil lending direct through branch at NAB
4.29 ANZ
4.30 WBC

I can not quote CBA as I personally would not bank with them and that is a personal preference.

 

[Martin Walmsley]

Of course you have an advertising budget, it just doesn't have your name on it. Every lender spends millions every month on brand awareness and advertising, this has a direct outcome on each individual employees ability to do business.

A laptop may cost $1200 but behind that there's significant investment in IT behind that that keep it secure, keep the software up to date and so on. The Microsoft office subscriptions in my business cost me more than $1200 / year and that's one of the cheaper software packages I need to do business.

There is very much a collaborative approach brokers and banches. There's no doubt that a good relationship with the local branch can be of significant benefit to a brokers business and vice versa. I'm simply taking issue with your original statement that the margin of dealing with a branch is lower than that of a broker.

The last survey I read indicated the average broker take home salary was about $80k. It's not a fair comparison to offset one persons individual salary against a small businesses total revenue.

I give up, you win.

I have seen and used the pricing worksheet at three of the majors. One gives you the margin and you pick which source the business is from, giving on average 20bps different, One goes through to pricing, the branch and the broker can push higher through to the product manager. The branch then has the ability to go through to the state manager who can shave another 10bps. the last does not discriminate however this week have just announced a reduction in commission to third party introduced loans as the last 4 years of discounts have taken their toll this year due to the reduction in the cash rate.

Regardless of the cost of service commission is factor.

 

[Mick C]

thanks mick
so if it was as a new customer with anz that is 1.33% off svr.(i.e. 4.3%)
have u seen them go to 1.35% or even 1.4%
so if it was a new customer with cba 720K loan that is 1.25%off svr(i.e. 4.4%)
have u seen them go lower on this loan range

thanks again

Yes i have seen the discount go well pass the 1.35% before...it really depends on the TIME of the year LOl ...towards the end of the year and towards June/July it heats up as it's towards end of FY and profit reporting seasons..

a range of factors...hard to say "exactly how much" 1.3m will get you...as it will depend on time of the year + competition in the market + LVR and loan amount + crossing or not..

If your a new customer of ANZ/CBA/ Westpac / NAb and your bring over 2.5M - i have seen the rate as low as 4.19% ( not kidding ...this was via Westpac and done around Dec 2014 at the peak of the competition and again 4.22% with CBA/ NAB around june last year)

But if you dont ask you dont get

 

[Martin Walmsley]

Yes i have seen the discount go well pass the 1.35% before...it really depends on the TIME of the year LOl ...towards the end of the year and towards June/July it heats up as it's towards end of FY and profit reporting seasons..

a range of factors...hard to say "exactly how much" 1.3m will get you...as it will depend on time of the year + competition in the market + LVR and loan amount + crossing or not..

If your a new customer of ANZ/CBA/ Westpac / NAb and your bring over 2.5M - i have seen the rate as low as 4.19% ( not kidding ...this was via Westpac and done around Dec 2014 at the peak of the competition and again 4.22% with CBA/ NAB around june last year)

But if you dont ask you dont get

Agree time of the year has a lot to do with it.

My rates are on 1.6 million and I was quoted this week. I have yet to push for more as my fix rate expires at the end of the month with Bankwest (they were not even in the game) I pushed them through a broker who originates through origin and unfortunately we were 5 - 10Bps higher. (NAB being the closest)

However Brian Hartzer has quoted he does not want to be seen as the most expensive in the market and the higher ups are constantly stating we will not be beaten on rate. I have been with Westpac for 8 weeks and have seen 20bps lower this week than I was getting 8 weeks ago. This is for all channels.

 

[Mick C]

Thank you

You basically proved my point

4.20 obtained 1 mil lending direct through branch at NAB
4.29 ANZ
4.30 WBC

I can not quote CBA as I personally would not bank with them and that is a personal preference.

^ not sure what point im proving....but the rate im giving is a general guide...and yes your probably correct in saying some ppl gets better rate going direct and some get better going to broker - not something i worry about as our office offer the best we can offer at any given time ( and i know most decent and experienced broker would do the same- our commission is NOT affect by the rate..so why not)

What i like to see is you offer these rate for everyone on SS?
No? probably because it's a once off at any given time.....no point discussing something that's a once off as it's not achievable for most.

A common question i get ask is what rate im on....i tell all my clients/ friends if they ask- but really it's pointless -as they may or may not get the same- even with the same bank.

FYI.
My loan with CBA ( $2.6M sub 65% LVR) - 4.25%
My loan with ANZ ( $2.1M sub 80% LVR) - 4.18%
And than i have smaller and much older loans with ING at 4.58% and with Widebay lending at 4.59%.

I give up, you win.

I have seen and used the pricing worksheet at three of the majors. One gives you the margin and you pick which source the business is from, giving on average 20bps different, One goes through to pricing, the branch and the broker can push higher through to the product manager. The branch then has the ability to go through to the state manager who can shave another 10bps. the last does not discriminate however this week have just announced a reduction in commission to third party introduced loans as the last 4 years of discounts have taken their toll this year due to the reduction in the cash rate.

Regardless of the cost of service commission is factor.

 

[Martin Walmsley]

^ not sure what point im proving....but the rate im giving is a general guide...and yes your probably correct in saying some ppl gets better rate going direct and some get better going to broker - not something i worry about as our office offer the best we can offer at any given time ( and i know most decent and experienced broker would do the same- our commission is NOT affect by the rate..so why not)

What i like to see is you offer these rate for everyone on SS?
No? probably because it's a once off at any given time.....no point discussing something that's a once off as it's not achievable for most.

A common question i get ask is what rate im on....i tell all my clients/ friends if they ask- but really it's pointless -as they may or may not get the same- even with the same bank.

FYI.
My loan with CBA ( $2.6M sub 65% LVR) - 4.25%
My loan with ANZ ( $2.1M sub 80% LVR) - 4.18%
And than i have smaller and much older loans with ING at 4.58% and with Widebay lending at 4.59%.

4.18 with ANZ is quite an achievement. Nice work.

 

[remingbi]

thanks mick
that anz loan is awesome. so sick. well done
thanks for sharing
may i ask if that was a recent loan as a new customer?
seems like anz are more open to sharp pricing compared to cba
nice one

 

[remingbi]

thanks mick
that is an awesome 1.45% off svr
with the banks when u send in a pricing request and they give u the rate, is that final or can u negotiate further with the bank as a broker for ur client

 

[Daniel Wu]

Mortgage Broker @ Sydney

4.38% with 1.38M loan with ANZ. I did hear NAB can do as low as 4.28/4.23% ....

My experience is the NAB branch used to have the discretion to give low interest rate such 4.23% - 4.28% for loans over 1.5M two or three months ago, but now NAB has centralised this right, so its rate can not be as sharp as before.

CBA's home loan market share has dropped down to about 16% according to its recent report, and it is quite aggressive recently to win the client back. The interest rate is attractive at every loan size level (less than 500K, 500K to 750K, 750K to 1000K, and 1000K plus). In addtion, it gives $1000 rebate to applicants for investment home loan, no matter it is new purchase or refinance.

 

[tonyc00]

With regards to westpac, I have one new loan on 4.4% (discount 1.3%) but several others at 4.52% (discount 1.18%).

Is there a strategy to get westpac to increase the discount on existing loans from 1.18% to 1.3%.

Or is it as simple as just asking!!

Many thanks

Tony

 

[yahoo]

My experience is the NAB branch used to have the discretion to give low interest rate such 4.23% - 4.28% for loans over 1.5M two or three months ago, but now NAB has centralised this right, so its rate can not be as sharp as before.

CBA's home loan market share has dropped down to about 16% according to its recent report, and it is quite aggressive recently to win the client back. The interest rate is attractive at every loan size level (less than 500K, 500K to 750K, 750K to 1000K, and 1000K plus). In addtion, it gives $1000 rebate to applicants for investment home loan, no matter it is new purchase or refinance.

My broker has offered 4.75 with CBA for a less than 300k investment loan. I require offset account, there is no mention of a rebate and i will need to pay the annual package fee.

 

[Peter_Tersteeg]

My broker has offered 4.75 with CBA for a less than 300k investment loan. I require offset account, there is no mention of a rebate and i will need to pay the annual package fee.

What LVR is it? The CBA will give a modest discount for a $300k loan, but how much will also depend on the LVR.

 

[yahoo]

What LVR is it? The CBA will give a modest discount for a $300k loan, but how much will also depend on the LVR.

Hi Peter

LVR is 80%

 

[Zorros Whiskey]

I have four loans, all with CBA, total debt is just over $1.5 M all and I am receiving 4.4% with that everyday offset account linked to PPoR.

I do know someone who is getting 4.25 % with a big four who has just over $2.5 split across six loans.

 

[kennyboi]

My loan with ANZ ( $2.1M sub 80% LVR) - 4.18%

That is a very good rate. ANZ has previously refused to do any better than 4.34% for $2.1M+ earlier this year. I am with NAB on 4.25%.

 

[teddy1]

Hi,

i have 4 IP and all 4 loans are with ANZ with a variable rate of 4.62%. In anyone else with any of the other banks receiving a better rate?

Im thinking about negotiating with the bank for a better rate. What are your thoughts?

what is the best site to compare interest rates?

Thanking you in advance.

I have been quoted 4.59% with COMM @ 88% LVR with IO on a 550k loan

Is this good?

 

[Jess Peletier]

I have been quoted 4.59% with COMM @ 88% LVR with IO on a 550k loan

Is this good?

Depends - is that their 3 year rate cutter? If it is it's just their carded rate. If not, it's pretty good.