common wealth bank variable rate compare here

[fullylucky]

Hi Just wondering those who have or are about to get a home loan with Common wealth bank, what standard variable rate are they offering you?

and how much are you borrowing?

I'm Borrowing around $1 mil with CBA.

I'm getting 4.9% (with the wealth pack)

Do you think I'm getting ripped off?

What rate are they giving you?

 

[Shahin_Afarin]

Whats the all important LVR? Below or above 80%?

 

[fullylucky]

investment property. total LVR not over 80%. so no LMI.

 

[Shahin_Afarin]

I did one recently (existing client with top up) - total loan amount $1.1mil and LVR 80% the rate was 4.82%. Speak to your broker or banker as you should be able to get this or close to it or beat it!

 

[Rolf Latham]

100pts with CBA on a mill lending is not bad depending on:

1. when the loans were actually taken out
2. what the actual mix of loan splits and securities etc is ie, a single loan of 1million with a single security will likely get a better outcome than 6 splits with 4 securities etc, since the single loan costs less to establish and hold
3. What market competition there is at the time - (Citi are doing sub 4.8 for 500 k lends at the moment)
4. How keen CBA is for market share at the time.

Mortgage backed loan pricing isnt a homogenous thing, and with positive credit reporting coming in over the next little while it will become even more muddy to look at direct comparisons.

ta
rolf

 

[fullylucky]

I got 4.80% now. but still waiting for formal approval.

Has anyone been able to get lower than 4.8%?

Ubank is doing 4.6XX% but not they don't offer as many features...

 

[The Fence]

Id be happy with 4.8%. You are lucky to get that.

Im on 4.96 with 644k loans across 3 IP's.
Would love to get lower, but the powers to be say no.

If I was you Id take it and remain quiet.

 

[EN710]

Loan for IP is 5.4% at 95% LVR and loan less than $200K (Wealth Package)

For upcoming PPOR is 5% with 80% LVR and loan slightly above $400K

 

[Peter_Tersteeg]

4.9% is consistent with the current pricing for the CBA with 80% loans of $1M+ in borrowing. It represents a package discount of 1% of the SVR.

With $1.2M you might be able to negotiate a little more off. If you've got a discount of 1.1% (4.8%) you're doing extremely well, it's very rare for the CBA to do better than that.

 

[RetireRich101]

So fullylucky, are you over $1.2m or close to get the 1.1% discount or 4.80%?

Is this a new loan, or refinanced from other lender?

Was it threw a broker or direct with CBA?

Was it hard to negotiate, or CBA is ready to gain more market share?

 

[zimby]

650K total with combank, 80%lvr and 90%lvr both at 5%
Wealth Package.
Through Broker.

 

[Darlogus]

Also have 4.8 with CBA. Was higher when I setup originally and then they lowered existing when i purchased again. Just done last one few weeks ago fixed 3 year IO at 5.1%.

 

[THEGREAT888]

Also have 4.8 with CBA. Was higher when I setup originally and then they lowered existing when i purchased again. Just done last one few weeks ago fixed 3 year IO at 5.1%.

An acquaintance refinanced with CBA. loan below 1m, 2 years fixed term for 4.76 %.

Some lucky people

t

 

[delfredo]

An acquaintance refinanced with CBA. loan below 1m, 2 years fixed term for 4.76 %.

Some lucky people

t

When was it refinanced (ie. was it a special price or was the rate back then lower)?

 

[Richard Feynman]

4.98%
< $400k
LVR to remain < 80%
On Wealth Package

Negotiated after $17k break fee.

 

[THEGREAT888]

When was it refinanced (ie. was it a special price or was the rate back then lower)?

As a recent as a couple of weeks ago
A family member is an insider

 

[fullylucky]

Good to know I am getting a good deal.

It's a new loan for my first IP.

My current homeloan for my own house is with CBA.

All up total loan amount from existing and new is around $1mil. Plus minus $20k

 

[RetireRich101]

All up total loan amount from existing and new is around $1mil. Plus minus $20k

Good to hear you got a good rate.... let me hit my broker next week to see if I can get that one base point off. Though some of them are on fixed 3 yr.
That discount of standard variable is quiet an important buffer. If the rates do go back up to 7% standard variable, at least (well I hope so anyway) you know you've a bigger buffer/discount.

 

[Rolf Latham]

Though some of them are on fixed 3 yr.

and thats where the good retention pricing teams will call you...........and another 5 to the pot

and if the LVR is >80 %

In both cases they know you cant move

ta
rolf

 

[RetireRich101]

and that's where the good retention pricing teams will call you...........and another 5 to the pot

and if the LVR is >80 %

In both cases they know you cant move

ta
rolf

30% fixed, while 70% is still on variable 4.90%, so am not fully crippled yet and I assume still some bargaining power, but still shy away from $1m for the variable portion.
I know it may be a good idea to negotiate for that 1.1% discount before I fixed more portion. At least when it comes out of a fixed term, I may find it easier to renegotiate the discount, as expectation is set.
You never know if you don't ask