Refinance Time

[WebBoard]

Refinance Time More

Reply: 1.1.1.1.1.1.1
From: Garry T



CBA does 0.5% off Std Variable and 0.25% off Fixed, for members of APESMA. No other special requirements. If they can do this for APESMA members then they should be able to do it for anyone.


Garry

 

[michaelg]

Refinance Time More

Reply: 1.1.1.1.1.1.1.1
From: Michael G


Hi,

What is APESMA?

Michael


>CBA does 0.5% off Std Variable
>and 0.25% off Fixed, for
>members of APESMA. No other
>special requirements. If they
>can do this for APESMA members
>then they should be able to do
>it for anyone.
>
>
>Garry
>

 

[WebBoard]

Refinance Time More

Reply: 1.1.1.1.1.1.1.1.1
From: Garry T


APESMA is the:
Association of Professional Engineers, Scientists and Managers, Australia.

Rolf, how do brokers handle situations where someone has access to special benefits? Does the broker attempt to get other banks to match the same benefit on behalf of the client or is that something the client has to do for themselves.

The reason I ask is I've heard plenty about getting other banks to match or do better than what another bank offers. So to not try and get other banks to match a particularly benefit would not result in a fair comparison since you are comparing the best deal from one bank with the standard deal of another. Or have I overlooked some part of this approach?


Garry

 

[AntC]

Reply: 3.1.1.1
From: Anthony C


Hiya Anna,

Yep, 0.5% off variable and 0.15% off fixed.

Does anyone think we've bottomed out on the Fixed rate, is this as low fixed can go?

Regards

 

[AntC]

Refinance Time More

Reply: 1.1.1.1.2
From: Anthony C


Keith,

How did you get 0.25% off, is it something you negotiated on top of the Addvantage package?

Cheers
Ant.

 

[AntC]

Refinance Time Happy Ending

Reply: 2.2.1.2.1
From: Anthony C


Hiya Marina,
I'll tell you mine if you tell me yours. But don't tell anyone else.....
2 bedroom flat in Inner City Suburb Melbourne, $180k, $350/week. Approx 10% return
Wasn't Advertised, agent rang me and said, "I got an investor from Japan who owns this flat and needs to get out today, if you can come around with a deposit today, its yours". Had been negotiating on other properties before with this agent, with no success, but I guess he knew I was serious and ready to go on something quick if it came up. Had done my research on the suburb, so was confident with the price and the place.
New tenants moved in last week, leased for 1 year.
so far so good.

Regards
Ant

 

[Rolf Latham]

Refinance Time More

Reply: 1.1.1.1.1.1.1.1.1.1
From: Rolf Latham


Hi Garry

Most of the larger lenders offer special packages to professionals based either on proffesion and/or level of income.

For example CBA offer .5 % off variable to practically anyone holding mmebership of a proff insitution, whereas Weestpac offers this to anyone earning above 60 k, with cerain minimum borrow levels.

Why try and negotiate the same deal with another bank ? you either go to where the offer is, or you stay where they want your business, and are willing to reward you for it. A broker will go and bat for you if there is some benefit in it for the broker.

A broker is only paid where new business is placed, so if you do not have what you want with your existing lender and you insist on staying there a broker can not benefit, and has no power to negotiate with you or on your behalf.

Every lender has its positives and negatives.

Ta


Rolf