How much is Commonwealth Bank Charging you (Var Rate Compare)

[akira]

Hi Akira sorry to keep bothering you but just double checking....

as you know RBA dropped the OCR by 25BPts. and CBA passed on 0.20% to homeloan customers today (13 May)

so I went from 4.55 to 4.35%.

So are you currently on 4.2%? is that correct? loan amount around 830k?

Yes. I am currently on 4.2% with 830k loan.

Young invester
No idea what technique others used. With me, research on what others offer with the same loan amount and deduct 0.1%. Call the home loan department and present it to them. If asked for the rate in writing, just tell them no loan manager is willing to put it on paper due to competition issue.

 

[freerange]

230k @ 4.95%
186k @ 4.59%



Lucky you made this thread as it caused me to check my rates, they are both ment to be at 4.59. Shows how much attention i pay, will be giving them a call in the morn

 

[christos]

210k @ 4.75% as of rate cut last week

 

[fullylucky]

What techniques have people been using to reduce rates with cba? Presuming they just don't hand rate reductions below rba cut out willy nilly

negotiate, they won't change the rates for existing customers. just like how when TPG moved to bigger download quota they don't notify existing customers but you can update anytime.

You can make their BATNA look unattractive by threatening to refinance with their competitor.

 

[starman]

$1.25m 4.25% (after latest rate cut)
cash offsetting the above $650k
2 properties
...if that makes sense...

 

[Younginvester]

Yes. I am currently on 4.2% with 830k loan.

Young invester
No idea what technique others used. With me, research on what others offer with the same loan amount and deduct 0.1%. Call the home loan department and present it to them. If asked for the rate in writing, just tell them no loan manager is willing to put it on paper due to competition issue.

maybe ill just print this thread out along with rate comparison charts and take it into the bank....

i currently have over $1mill with CBA across several loans all on different rates, average out would be high 4.8X% id say. Long term customer, since dolomite days, always had cash in bank with them... etc. Going for a "talk" on Monday...

Cheers

 

[Brady]

Best time to negotiate best rate across your CBA Loans is when you're borrowing new funds, when new funds are involved staff/brokers will usually be able get an 'auto approved' amount through the 'pricing tool'. Whereas when no new funds are involved has to be assessed by a pricing team staff member. Discounts usually better with new funds involved also.

 

[fullylucky]

230k @ 4.95%
186k @ 4.59%



Lucky you made this thread as it caused me to check my rates, they are both ment to be at 4.59. Shows how much attention i pay, will be giving them a call in the morn

you're welcome.

 

[Gockie]

I just checked my rates. My variable rate dropped 60 bp since last September. Unbelievable.

 

[BayView]

4.5% Pro Package for me.

 

[Tonibell]

Just reduced to 4.25% on $2.4M.

 

[Shahin_Afarin]

Its incredibly how quickly lending appetite is changing - here is a notice from CBA re Investment Loan pricing:

Changes to Investment Home Loan Offer and Discretionary Pricing

We have reviewed our $1,000 Investment Home Loan Rebate Offer and it will now end at the close of business on Friday 15 May 2015. We will honour the offer for all Investment Home Loan applications, created by close of business on Friday 15 May.

We have also reduced pricing discounts for Investment Home Loans in the Home Loan Pricing Tool (HLPT). We will honour pricing discounts approved by the HLPT as at close of business on Wednesday 13 May 2015, providing the application is formally approved by June 12 2015.

Discounts are still available for Owner Occupied lending, please continue using the Home Loan Pricing Tool for pricing discretion requests.

 

[Jamie M]

Its incredibly how quickly lending appetite is changing - here is a notice from CBA re Investment Loan pricing:

Yep - just got it too.

These changes are happening FAST. Have to keep a very close eye on every lender email these days.

Cheers

Jamie

 

[Peter_Tersteeg]

After NABs similar announcement yesterday and the disappointing responses to our pricing requests this week, I wasn't surprised to see that email from the CBA today.

Not sure if we'll see similar communications from ANZ and Westpac, but I believe they'll just do it quietly.

 

[Jess Peletier]

Just got a policy update from Macquarie and was almost scared to look - but all clear. Phew!

 

[Kinnon Bell]

Just got a policy update from Macquarie and was almost scared to look - but all clear. Phew!

Ha, I was exactly the same. Read the title of the email "Important changes to our credit policy" and was like uh oh...

Hopefully they're not trying to do a positive sandwich....

 

[Rolf Latham]

Ha, I was exactly the same. Read the title of the email "Important changes to our credit policy" and was like uh oh...

Hopefully they're not trying to do a positive sandwich....

these are all positives for brokers.................

the more dust and flux and variation the more the need for quality advice

ta

rolf