St George Rate Discount

[danwatto]

Hi All,

What are St George giving for discounts > $1m these days?

I've been paying 4.79 for a while now, how much should I ask for?

I know they aren't as loose as NAB but reckon I could get 4.7% or better?

Note I'm talking about before the rate cut.. as it may be harder to negotiate once they reduce the SVR I want to get my discount changed now if possible..

 

[Jamie M]

From memory - around 1.2 - 1.3 discount if LVR less than 80

Haven't used them much lately though so could be wrong.

Cheers

Jamie

 

[Shahin_Afarin]

At least 4.69%.

 

[danwatto]

At least 4.69%.

Thanks, so with an SVR of 5.99, that's 1.3 discount.

I'll call them and ask to change my discount from 1.2 to 1.3.

Is < 80%, > $1m.

 

[spludgey]

1.3 here as well.

 

[Allgood]

Wow, Ive got about 1.7 mill of debt with Westpac (about 60%) LVR and only on 1% discount (paying 4.98% down from SVR of 5.98).

I think I need to make a call! If I could get 1.3% it would be around $100 a week.

 

[neK]

1.3 discount here as well.

 

[Corey Batt]

Wow, Ive got about 1.7 mill of debt with Westpac (about 60%) LVR and only on 1% discount (paying 4.98% down from SVR of 5.98).

I think I need to make a call! If I could get 1.3% it would be around $100 a week.

Ouch, definitely a lot of fat to be trimmed there.

If they play funny games over the phone, flick an email to your broker who can put a request through. If you don't have one, happy to send through a request for you.

 

[Allgood]

Okay, thanks for the offer Corey, I'll see how I go.

Regards,
Rod

 

[danwatto]

Done, 1.3. Except the portfolio loan portion but I can live with that.

Thanks all for sharing.

20th of the month the 0.25 will then apply as well. Happy days.

Cheers

 

[neK]

So you got 1.3% off? Were they prepared to go lower?

 

[The Dark Knight]

Hey Dan so did you get your non portfolios for 4.69 or less?

 

[danwatto]

Yes 1.3, 4.69 for non portfolios.

I don't know if they'd go lower but I doubt it.

On the 20th will be 4.44 after the 0.25

 

[Redom]

Ouch, definitely a lot of fat to be trimmed there.

If they play funny games over the phone, flick an email to your broker who can put a request through. If you don't have one, happy to send through a request for you.

I find Westpac tend to offer better pricing via lender channel than the broker channel, especially for existing loans. I believe they split their pricing teams (whereas at others like CBA the channel its coming from doesnt matter).

So you may have more luck saying that you'll refinance out, retention will then give you a discount to keep your business. You should seek a 1.35% discount for that level of lending.

Goodluck!

Cheers,
Redom

 

[Colin Rice]

So you may have more luck saying that you'll refinance out, retention will then give you a discount to keep your business. You should seek a 1.35% discount for that level of lending.

Shop around and get it in writing, make the call saying so and if they dont match then you will walk.

 

[pinkboy]

Yes 1.3, 4.69 for non portfolios.

I don't know if they'd go lower but I doubt it.

On the 20th will be 4.44 after the 0.25

Didnt Westpac go .28?

pinkboy

 

[Colin Rice]

Didnt Westpac go .28?

pinkboy

Yes but they needed to.

 

[Mick C]

Westpac has the highest SVR out of all the banks...so their end rate is still higher than most bank even with the same "% of discount" so hence the 0.28 cut....

 

[Colin Rice]

Westpac has the highest SVR out of all the banks...so their end rate is still higher than most bank even with the same "% of discount" so hence the 0.28 cut....

5 .99% SVR before rate cut.

 

[danwatto]

Didnt Westpac go .28?

pinkboy

Yeah but doesn't help me..
Even though they are owned by Westpac they set their rates independently.