I have directed the above comment to my broker who in turn is directing it to CBA. I've got .75% off but am pushing hard to get the same as you, especially as your loans are the same as mine. If the broker can't do anything I'll negotiate by myself.
Discounts on home loan, any one got above .7
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I have directed the above comment to my broker who in turn is directing it to CBA. I've got .75% off but am pushing hard to get the same as you, especially as your loans are the same as mine. If the broker can't do anything I'll negotiate by myself.
Useful thread as I am meeting my Bus Banker tomorrow. Only 0.7% with CBA so I should at least go for 0.8%.
I feared with the GFC , professional/paskage discounts would be reduced but it appears they have been increased for the right risk and return to offset the higher increases for the masses.
Peter 14.7
I feared with the GFC , professional/paskage discounts would be reduced but it appears they have been increased for the right risk and return to offset the higher increases for the masses.
Peter 14.7
Anz
We have just over $1M. Currently with ANZ and was on .7. Went to CBA and they offered .80. Went back to ANZ and they countered with .77. Got out broker to follow up and got .85. (This was about 6 months ago)
We have just over $1M. Currently with ANZ and was on .7. Went to CBA and they offered .80. Went back to ANZ and they countered with .77. Got out broker to follow up and got .85. (This was about 6 months ago)
Rang up the mortage centre, no joy from Westpac
We currently have a 0.7% discount on a 85% LVr no LMI product
apparently we're not eligible (even after mentioning NAB's product and the fact that Westpac is the most expensive of the top 4 etc. etc.) because our mortgage broker arranged a 0.3% discount on our loan when we first got it. The 85% no LMI product was meant to have a maximum 0.4% discount. I didn't know our broker wrangled an extra discount for us! I sure felt sheepish after finding this out from the bank.
We currently have a 0.7% discount on a 85% LVr no LMI product
apparently we're not eligible (even after mentioning NAB's product and the fact that Westpac is the most expensive of the top 4 etc. etc.) because our mortgage broker arranged a 0.3% discount on our loan when we first got it. The 85% no LMI product was meant to have a maximum 0.4% discount. I didn't know our broker wrangled an extra discount for us! I sure felt sheepish after finding this out from the bank.
Rang up my personal banker, joy from Westpac...
WBC have lifted my discount to 100bp until March and agreed to review it then to 90bp ongoing. And they reiterated that my development loan pre-approval still stands and would attract the same discounts.
Every little bit helps.
Cheers,
Michael
Rang up my personal banker, joy from Westpac...
WBC have lifted my discount to 100bp until March and agreed to review it then to 90bp ongoing. And they reiterated that my development loan pre-approval still stands and would attract the same discounts.
Every little bit helps.
Cheers,
Michael
So 1.00 means 0.90% which is still a good resuly. ).90 will mean 0.80% (based on what we know today) apart from the cBA. Good luck with the CBA as I just had a 0.80% knocked back for an existing client whose lending will go above $1.3M. they sure don't want the business at present.
I feel that a higher LVR without LMI is better than a bigger discount, if you can get it.
Dealing with LMI is a real pain.
Been speaking with westpac in regards to getting a better rate on our variable currently the standard .7 . I was thinking .9 for life .They have offered .85. Anyhow I ask the woman in regards to our fixed stuff .......when I was signing the loan documents I notice this statement.....
- Beginning 3 years from drawdown for the life of the loan, subtract a discount of 1.2% per annum. This dicount is made up of a subtracted dicount of .5%, and a subtracted dicount of .7% per annum. At current rates the annual percentage rate for that period would be 4.71% per annum.
She pulls it up on her screen and says 1.2% discount when the fixed period runs out........ till 2039. So I ask why not on the other loans . She is going to get back to me.
Total lending I have with westpac is around 1.3m. 700k on the var and the rest fixed 4.99%.
- Beginning 3 years from drawdown for the life of the loan, subtract a discount of 1.2% per annum. This dicount is made up of a subtracted dicount of .5%, and a subtracted dicount of .7% per annum. At current rates the annual percentage rate for that period would be 4.71% per annum.
She pulls it up on her screen and says 1.2% discount when the fixed period runs out........ till 2039. So I ask why not on the other loans . She is going to get back to me.
Total lending I have with westpac is around 1.3m. 700k on the var and the rest fixed 4.99%.
around March 09, CBA was offering 0.9% discount for large lending but since the recent round of RBA increases this mth, they are currently following up with their pricing discretions unit. ANZ offers standard 0.7% discount, but if you bring all your borrowing over, was offering ~.875% discount in March.
I am going to push for the best rate with various financial institutions and move all my loans. Will let you know how I go.
I am going to push for the best rate with various financial institutions and move all my loans. Will let you know how I go.
Well done, Shadow. It's exactly what I get. 1.1% is a great discount. I know that if I stayed with some of the second tiered banks, there is no way that I could have got such a big discount
Can you tell me the amount of your loans?
Steve
max we could get w/cba was .75 off for an existing client. Appealled it and their reply was they couldnt get .8 off for 1.5M clients so they werent going to ask.
