Discounts on home loan, any one got above .7

If you to 90%+ LVR, you will have to deal with LMI
JIT,

Thanks, but I only need a 70% lend to get this built so no LMI. Upon completion I might top up some LOC's and stretch that LVR, but for now it should be a simple lend. The only complication is the trust ownership structure hence the business section contact at NAB.

Cheers,
Michael
 
Bank West's Rate Tracker

Bankwest have offered 1% discount off the average of the Big 4's variable rate for 2 years. After 2 years I've been promised at least .7% off Bank West's variable rate which in turn is .2% better than most other variable rates. With a bit of pushing, I've been told that I could get .8% or up to 1% off after the 2 years.

No need to pay the yearly professional package fee which CBA, Westpac and ANZ impose on customers to get .7% off. There are no exit fees, ongoing fees and a $200 application fee. This product is not available through mortgage brokers.

Does anyone know of any problems with this product? Seems like a good deal to me.
 
Bank West's Rate Tracker. !% off variable, no need to pay package fee

I had a bankwest state manager tell me last week they had withdrawn it through the branches too....

That can't be right. I only spoke to a BankWestmanager 2 days ago who said that it's still available.

Would still like someone's opinion on the product. Spectre did mention about possible serviceability problems compared with some of the other banks. Thanks
 
As a postnote.

Spoke to CBA today and I'm into them - well.. for a whack. They went from .70 to .75 and that was it, no more room, even with me telling them I could go to NAB and be .20 pts less.

Probably the pro in my case is that I dont have any deferred estab fees. If I did, just working on the numbers side of things wouldnt be worth it... skipping the customer loyalty bits etc.
 
Spoke to CBA today and I'm into them - well.. for a whack. They went from .70 to .75 and that was it, no more room, even with me telling them I could go to NAB and be .20 pts less.

Probably the pro in my case is that I dont have any deferred estab fees. If I did, just working on the numbers side of things wouldnt be worth it... skipping the customer loyalty bits etc.

This is what the "last resort" section of CBA told me too so thanks for the confirmation. Tho the pro in your case happen to be my con, since I did a top up a year ago >.<
 
I get .75 on my variable rate with ANZ. They have a deal with my employer. Also get no fee for professional package and no fee on everyday account. Happy with that at present.
 
'deal with your employer' is exactly the same deal you would get with ANZ walking in off the street or through a broker. Its their pro pack disguised as a special deal only for XYZ employees.
 
That can't be right. I only spoke to a BankWestmanager 2 days ago who said that it's still available.

Would still like someone's opinion on the product. Spectre did mention about possible serviceability problems compared with some of the other banks. Thanks

It's bascially a 2 year honeymoon product. It has it's good points, but is a bit limited.

HomeSide (NAB broker section) will effectively do a 1% discount for anyone with a 75% LVR or lower and a loan over $250k. Lower fees than the other banks too.
 
PT Bear

with NAB Homeside broker... do they offer 100%offset account..How about other features and customer service?
It would be the lowest among all the bank and non-bank lenders?
 
Yes they have a 100% offset.

Service has been lacking, but like all lenders their service varies. My experience has been quite good lately. 2 recent applications were approved within 4 working days of submission. They're also releasing new and much lighter documentation requirements in the next week or two, which will make them a lot easier to deal with.

I don't deny that their service has been really crap in the past, but this thread is asking how to get the lowest cost loan, not who's got the best service.

If their service maintains itself at what I've experienced over the last few weeks, I'd say it's better than most other lenders. They're picking up files within 24 hours of submission, assessors call the broker directly and if you send them fix on an error within a few hours they assess almost the same day.
 
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