I cant name the lender but you could work it out or contact me for more details but a major lender is now negotiating up to 1.1% off the variable rate for loans above 500K on their pro pack (credit card, offset, annual fee ect). Their 3 year fixed rate is also 5.57%. I have one approved for 700k this week at that those rates so those that are price orientated its a great deal. This same lender i put up a 1.7mil deal 3 weeks ago and they would not give more than 1% off so its a big turn around.
Major Lender 1.1% discount effective rate 5.78% negotiated
- Thread starter jonmardell
- Start date
I'm happy to name ANZ as the bank giving me 5.78% variable, But I'm not touting for business here.
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Hiya Jon
The suspense is killing me; it is not Wesucks, is it?
If yes, i WILL contact you
sorry not westpac :-(
i am giving people a heads up as there is another thread about CBA discounts. It is pretty easy to work out by the fixed rate i mentioned as only 1 lender has that fixed rate. This rate we be able to be negotiated directly or through a broker.
But why can't you name the lender?
My RM specifically said to me that it cannot be advertised so not mentioning it by name directly but letting everyone know the big discounts are out their for medium size loans and they can use that info to help negotiate with their existing lender or jump ship.
I can get you the cash rate and give you $5000
With your current lender best to call up and ask them how to discharge your mortgage for a refinance and get them to send you the discharge form. The retention team will most likely ask you why you are leaving and say that you got a better offer. If you you use other services of the bank like internet banking, telephone banking, transaction accounts, credit cards, insurance or financial planning this will help your case if you point it out.
Move lenders : )
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scha9799, you've now to two choices.
1) Stay with Westpac and possibly negotiate again at a later time (best of luck, Wesuck really don't care much about existing customers).
2) Refinance.
1) Stay with Westpac and possibly negotiate again at a later time (best of luck, Wesuck really don't care much about existing customers).
2) Refinance.
It is not going to work unless Westpac (or any lender or that matter) receives a refinance request from another lender and then their retention team kicks into gear. What rate are you on with Westpac and whats your LVR?
