Hi all
My wife and I are currently purchasing a new PPOR and have just had our finance approved through westpac. My wife's finance on her previous property which we have just sold to fund this new purchase was with also with westpac settlement day is in fact the same).
They are offering us the rocket home loan which comes with a 4.99% variable rate, 1% off their standard variable. However we're required to pay a yearly fee of about $350 to get this reduced rate.
And it also seems that they want to charge us the $700 loan establishment fee.
We haven't had to obtain LMI as our LVR is approx 78%. Loan amount is $730k.
I have two questions:
1) would it be reasonable for me to request that they waive the new $700 loan establishment fee?
2) do you think there is scope to negotiate the 4.99% variable rate? (reading other posts it looks like closer to 4.85 might be achieveable)
Any advice would be appreciated.
Jom
My wife and I are currently purchasing a new PPOR and have just had our finance approved through westpac. My wife's finance on her previous property which we have just sold to fund this new purchase was with also with westpac settlement day is in fact the same).
They are offering us the rocket home loan which comes with a 4.99% variable rate, 1% off their standard variable. However we're required to pay a yearly fee of about $350 to get this reduced rate.
And it also seems that they want to charge us the $700 loan establishment fee.
We haven't had to obtain LMI as our LVR is approx 78%. Loan amount is $730k.
I have two questions:
1) would it be reasonable for me to request that they waive the new $700 loan establishment fee?
2) do you think there is scope to negotiate the 4.99% variable rate? (reading other posts it looks like closer to 4.85 might be achieveable)
Any advice would be appreciated.
Jom