Best variable interest rate???
- Thread starter iinvestor
- Start date
Gosh, he mustn't get out much! I got 4.4% from CBA for a client a week or so ago, with about $850k @ 80%.
There was new money involved though, that always helps.
Or just hit up one of the brokers here and ask them to do a pricing request on the system for you. It takes two minutes. Very efficient from CBA!
I find it hard to believe that the best rates their getting is 4.45% for 3mill lends.
Rates are based on LVR + Total loan amount. Works on tiers. Just got to ask for the right amount and you shall receive!
Cheers,
Redom
Your offset accounts does not count. It's just the loan balance that matters.
I'd suggest you let cba know that are you willing to play hard ball and switch banks. Until then CBA will begin to provide you counter offers.
Try see what other banks can do for you. Use that to negotiate. If not, try a different branch manager or broker.
They only look at the loan amount, not taking into consideration of the cash you park at the offset account.
I think 4.45% for $3M is not good at all, you can easily get the rate down to around 4.3% - 4.2% to even lower rate !
I know NAB would do for sure, CBA should too
really ? 1.3M, 74LVR with St George ??
I have a friend with St George loan around $730,000, 80% LVR,4.50%.
He was not happy with St George's service, so I am currently in the process of getting a better rate, product and service with other lender/bank for him, it looks like around 4.45% mark .
I recently got a 1.35% discount with the dragon for a client with similar borrowings and LVR. They were taking out a new loan which gives us leverage in negotiating.
Burned by the dragon
Have you negotiated recently or is that just a legacy rate? Might be worth having a chat with them if you haven't recently, they might surprise you. Definitely speak to your broker about what else is out there too - if St G think they might lose you they may be willing to play ball.
Tell them CBA will do 4.4%.
Burned by the dragon
Have you negotiated recently or is that just a legacy rate? Might be worth having a chat with them if you haven't recently, they might surprise you. Definitely speak to your broker about what else is out there too - if St G think they might lose you they may be willing to play ball.
Tell them CBA will do 4.4%.
CBA will give you 4.35% for that level of lending and LVR and ANZ will give you 4.38%. This is just system based pricing, not management discretion. You could get someone to do a pricing request for you with CBA, you can do it upfront and get a copy of it. Send to to St George and let them know your walking over to their competitor if they don't play ball. They should say yes.
Cheers,
Redom
Hi everyone yes I dealt with them recently about a month before the last ir cut... hmm some of them are line of credit which is why they told me I couldn't get further discounts across all of them. Definitely going to go where its cheaper I want to retire as soon as possible
Hi everyone yes I dealt with them recently about a month before the last ir cut... hmm some of them are line of credit which is why they told me I couldn't get further discounts across all of them. Definitely going to go where its cheaper I want to retire as soon as possible
Just get the broker to do a new pricing discretion online. I would imagine you should at least be able to to get a rate of 4.40% if not 4.35% under the advantage package. The line of credit could be a little more expensive.
Also I find STG good as they don't seem to discriminate if you are new or an existing customer and they price based on loan size not LVR.
Also interest only for 15 years without reducing loan term for serviceability calculations is pretty good.
Hmm kind of in between brokers ATM although iam looking to purchase a property very soon. Could I get a broker to do the haggling before the application or would it work better during the application? Thanks
It's possible to make pricing requests with some lenders prior to submitting an application, but it's not confirmed until the lender actually sees the application.
I tend to get the pricing approval for the whole deal beforehand and submit it with the application. That way, if the offer comes back too pathetic you can escalate it without having the application already lodged.
I take it you're putting in the initial pricing request with a dummy number, then go back and re-apply for the pricing once you've got the actual application number? I've found a couple of emails with the BDM or pricing department (depends on lender) gets a good result if you use the email as evidence of pricing when you lodge the application.
Yep, with CBA I put in a dummy application number but with the correct applicant name, loan amount, etc. I actually just include that with the loan app, I haven't had to do a second 'real' one. (Yet- I'm sure the day will come.) Edit - day came.
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