Hi All,
After having our original PPOR and now IP with Bendigo Bank at quite a competitive rate for the last 7 years or so, we're now shopping for a new PPOR loan after purchasing some weeks ago in Melbourne. The new loan for PPOR only will be in the order of 600K.
We've been happy with BB, and note in our area they sponsor many community initiatives, which I'm happy to pay a small premium for, however the question is, how much higher should one pay!
Their current 'package plus' variable with 100% offset is advertised at 5.11%, which is a little higher than others (CBA 4.84%).
Interestingly, the Adelaide Bank is also advertising 4.84%. As Adelaide & Bendigo is the same company, is it safe to assume their funding costs are the same? I would think a local Bendigo branch would match their affiliates offerings? Does this happen with CBA / Bankwest for example. Interested in people's thoughts....
Cheers,
After having our original PPOR and now IP with Bendigo Bank at quite a competitive rate for the last 7 years or so, we're now shopping for a new PPOR loan after purchasing some weeks ago in Melbourne. The new loan for PPOR only will be in the order of 600K.
We've been happy with BB, and note in our area they sponsor many community initiatives, which I'm happy to pay a small premium for, however the question is, how much higher should one pay!
Their current 'package plus' variable with 100% offset is advertised at 5.11%, which is a little higher than others (CBA 4.84%).
Interestingly, the Adelaide Bank is also advertising 4.84%. As Adelaide & Bendigo is the same company, is it safe to assume their funding costs are the same? I would think a local Bendigo branch would match their affiliates offerings? Does this happen with CBA / Bankwest for example. Interested in people's thoughts....
Cheers,