CBA 1% off for loans > $500k and < 80% LVR

[delfredo]

I just checked out CBA rates after taking 1% I am still better off with NAB

What matters most is the rate that you pay, rather than the discount that gets you there.

 

[Peter_Tersteeg]

I just checked out CBA rates after taking 1% I am still better off with NAB

James I think you'll find in the future it won't be about the rate you get, it's about the discount.

Right now NAB are very compeditive on their rates because they want market share. CBA (and others) have made a business decision not to be as compeditive so their standard rates are higher. On a case-by-case basis (in this case, new customers), they're willing to discount.

Eventually the tables will turn. NAB will become over-exposed, or under-funded and their standard rates will increase, whilst other lenders will decide they want market share and drop their margins. Sooner or later, CBA will be as good as, or better than NAB.

On long term averages, the persons with the biggest discounts will get the long term lowest average rates.

The game is no longer who has the best rates, but the best discounts.

 

[Marty McDonald]

Agree 100% PT

 

[Bradsdad]

nice site Stuart, great idea !

very factual and beyond the normal whinge ..........

ta
rolf

Yep but quoting the starting SVR at the start would have been a nice touch

 

[james_w]

James I think you'll find in the future it won't be about the rate you get, it's about the discount.

Right now NAB are very compeditive on their rates because they want market share. CBA (and others) have made a business decision not to be as compeditive so their standard rates are higher. On a case-by-case basis (in this case, new customers), they're willing to discount.

Eventually the tables will turn. NAB will become over-exposed, or under-funded and their standard rates will increase, whilst other lenders will decide they want market share and drop their margins. Sooner or later, CBA will be as good as, or better than NAB.

On long term averages, the persons with the biggest discounts will get the long term lowest average rates.

The game is no longer who has the best rates, but the best discounts.

It wasn't Just the rates is was total overall experience dealing with CBA

and of the lack of knowledge of their home loan employee we have had a lot of deals with the CBA.

I am confident that their older employee who helped with our other loans would of gotten us over the line...

 

[Spectre]

Before everyone goes and jumps off to CBA, just bear in mind... a year ago it was .70, now its 1%. IMO I think it'll continue a bit more.

 

[kyzer]

Really 1% off? I just got off the phone with a Home Loan specialist and he said the best he can do is 0.9% off. I have 2 loans worth 317k with CBA at the moment and looking to bring across another 350k (<80% LVR).

Who do I speak to to get the 1% off?

I got 0.95% off through Westpac loan was >750k

 

[Jonril]

Well I finally got off my a*** and called up CBA to get my .7% upgraded to 1% I feel better now, why did I not do this earlier! Procrastination cost you $$.

Oh well lessons learned, time to go for a walk on the beach the sun has just come out.

 

[virgo]

Cba

Hiya Jonril

What was loan amt please?

thanks

 

[Mick C]

The Current offer for CBA wealth package member- new and existing ( have to ask tho...not automatically given) are ( variable rate product...not LOC etc):

$250-$500k loan ---- 0.9% discount (LVR 80%<) OR 0.85% ( 0.9% LVR <)

$500,000 ---- 1% discount ( LVR 80%<) Or 0.95% ( o,9% >)

1% + for loan over $850,000 + LVR under 80%.


Regards
Michael

 

[delfredo]

For those with lower loan values (>250K) and LVR <80%, discount of 1.03% is available from Suncorp Bank. This effectively translates to 6.8%.

 

[delfredo]

Btw, anyone knows what NAB is offerring at the moment, in lieu of these competitor offers?

 

[Deltaberry]

Most banks can do 6.8% now
NAB and ANZ doing that for me

 

[Mick C]

Most banks can do 6.8% now
NAB and ANZ doing that for me

For the right LVR, loan amount and security def possible.

Regards
Michael