Wealth package with CBA
- Thread starter vh2000
- Start date
Hiya
Either dont take the intro rate
Take the intro then renegotiate at the end of the first year and threaten to walk, or
Use someone like Suncorp/Westpac etc that offers a 6.62 rate from the start.
All of the above pretty much reliant on > 250 or > 300 k lend
Ta
rolf
Either dont take the intro rate
Take the intro then renegotiate at the end of the first year and threaten to walk, or
Use someone like Suncorp/Westpac etc that offers a 6.62 rate from the start.
All of the above pretty much reliant on > 250 or > 300 k lend
Ta
rolf
Officially it's only the CBA offering you 0.15% off their fixed rates.
Huey I think these banks can do stuff without paying the package fee. I got 5.99 var to 0.7% off w/no estab, no montly, no package thru CBA a few months ago.
If you talk to someone at NAB, they may offer you the same deal to go to them. If to take that offer to cba they should match it (that is what I did) but to seal the deal they did it without bringing in wealth and basically I got it without the package fee being incurred. I'm happy to wear the credit card fee. I also had to throw in my house and contents insurance plus the insurance on my other property but when I compared it it wasnt too bad in the grand scheme of things. But you have to make it a feasible proposition, and if its a little $150K loan then they wont bend over too much. From what the guy at cba told me they are taking the approach that if someone else is offering a better deal (i.e. anz breakfree compared to wealth - anz gives .6 over 250 off variable and line of credit) then they'll beat it to get the business on their books. He even did some deal for 100k where he got .6 for another guy with no monthly fees off as resi was offering similar. Hope that helps.. but i agree with Rolf, threats work wonders.
If you talk to someone at NAB, they may offer you the same deal to go to them. If to take that offer to cba they should match it (that is what I did) but to seal the deal they did it without bringing in wealth and basically I got it without the package fee being incurred. I'm happy to wear the credit card fee. I also had to throw in my house and contents insurance plus the insurance on my other property but when I compared it it wasnt too bad in the grand scheme of things. But you have to make it a feasible proposition, and if its a little $150K loan then they wont bend over too much. From what the guy at cba told me they are taking the approach that if someone else is offering a better deal (i.e. anz breakfree compared to wealth - anz gives .6 over 250 off variable and line of credit) then they'll beat it to get the business on their books. He even did some deal for 100k where he got .6 for another guy with no monthly fees off as resi was offering similar. Hope that helps.. but i agree with Rolf, threats work wonders.
Thanks Lukentel,
I will go for 5.99% 12 Month Discounted Variable Rate & will try to negotiate a better rate for our existing loan. The problem is that I can't threaten anyone. My total loan will be approx 750K for 2 IPs and the bank is still willing to offer me more & more. It's pretty scary when I think of it! It may be too much a worry for an old soul.
Cheers
Huey
I will go for 5.99% 12 Month Discounted Variable Rate & will try to negotiate a better rate for our existing loan. The problem is that I can't threaten anyone. My total loan will be approx 750K for 2 IPs and the bank is still willing to offer me more & more. It's pretty scary when I think of it! It may be too much a worry for an old soul.
Cheers
Huey
Huey
Tell them that if they dont do it you spoke to a friend who has a private relationship manager in at NAB or St George who deals with clients who have a strong base (like yourself) and they offered it. It might work wonders. My last loan was 655k taking me to 750k, in a similar boat from the sounds of it. Otherwise, if you work out the interest diff in a year, you lose in year 1 but are better off in year 2. From what it looks like Rolf may be a guy to touch base with. At the end you have to look at the different banks and their packages... i.e. you could get .60 off with anz breakfree for loans over $250k plus - its online at their website and downloadable so sometimes pointing out where they are weak gets it to your advantage.
Tell them that if they dont do it you spoke to a friend who has a private relationship manager in at NAB or St George who deals with clients who have a strong base (like yourself) and they offered it. It might work wonders. My last loan was 655k taking me to 750k, in a similar boat from the sounds of it. Otherwise, if you work out the interest diff in a year, you lose in year 1 but are better off in year 2. From what it looks like Rolf may be a guy to touch base with. At the end you have to look at the different banks and their packages... i.e. you could get .60 off with anz breakfree for loans over $250k plus - its online at their website and downloadable so sometimes pointing out where they are weak gets it to your advantage.
What RolfL said above, plus...
put St george on your radar screen with Suncorp/Wespac as they will also offer the 0.7% discount at lower total borrowings than previously due to increased competition. No annual package fee with St George, reduced upfront application fees but pay monthly a/c keeping fee on loan account(eg. $8/mth on Std var). Also there are no ongoing account keeping fees or cashwdl/EFTPOS transaction fees on a St George savings account where loan repayments are debited from this account.
put St george on your radar screen with Suncorp/Wespac as they will also offer the 0.7% discount at lower total borrowings than previously due to increased competition. No annual package fee with St George, reduced upfront application fees but pay monthly a/c keeping fee on loan account(eg. $8/mth on Std var). Also there are no ongoing account keeping fees or cashwdl/EFTPOS transaction fees on a St George savings account where loan repayments are debited from this account.
Good luck Huey. One thing to bear in mind also in your searches is it all looks great going in but what about in a years time... i.e. say they dont approve a loan for you for whatever reason and then whats your costs? They may reduce establishment fees now but after they get you in you might get whacked on the next deal. One thing CBA does have advantage wise is due to they do soooo much lending if they changed their packaging to charge full application fees on a new loan plus package fee they'd have a firestorm of bad press. Anyway food for thought (I figure i've gotten a bit out of them fee-wise already but at the end of the day its better in my pocket than assisting with a $3BN+ profit!)
Hi Luke
If I know CBA like I know CBA, he is still waiting for an outcome
ta
rolf
If I know CBA like I know CBA, he is still waiting for an outcome
ta
rolf
Posting simply to keep informed via email.
Everyone knows what I think of of CBA wealth package rip off.
Looking forward to getting new loans with Rolf to screw CBA good
Peter 147
Everyone knows what I think of of CBA wealth package rip off.
Looking forward to getting new loans with Rolf to screw CBA good
Peter 147
Rolf/Peter...
like I said before, I think its about the guy you deal with rather than the business... wont mention how they just approved a 0.70 off my Viridian LOC with no fees to match st george (NB remember I dont have pkg fee either....)
Peter I hope you do find happiness w/whoever it is as far as your situation is concerned though, from what I've seen on the forum Rolf is a really good guy who takes care of his clients. Probably once my guy leaves CBA i'll be in a similar boat but for now I think I'm doing all right by keeping an eye on the others.
Still I hope Huey came out on top, or at least a bit better off.
Like I said - know they guy, throw in a few threats, buy grog for them so they feel they owe ya... amazing what a $20 bottle of wine can do.
Also peter, while I know I am relatively new to the forum apologies re my tardiness in congratulating you on your recent arrival. That is a great day for a kid to be born (speaking from experience and on behalf of my parents).
cheers
like I said before, I think its about the guy you deal with rather than the business... wont mention how they just approved a 0.70 off my Viridian LOC with no fees to match st george (NB remember I dont have pkg fee either....)
Peter I hope you do find happiness w/whoever it is as far as your situation is concerned though, from what I've seen on the forum Rolf is a really good guy who takes care of his clients. Probably once my guy leaves CBA i'll be in a similar boat but for now I think I'm doing all right by keeping an eye on the others.
Still I hope Huey came out on top, or at least a bit better off.
Like I said - know they guy, throw in a few threats, buy grog for them so they feel they owe ya... amazing what a $20 bottle of wine can do.
Also peter, while I know I am relatively new to the forum apologies re my tardiness in congratulating you on your recent arrival. That is a great day for a kid to be born (speaking from experience and on behalf of my parents).
cheers
Thank you for your kind word Lukentel.
Yes I will be using Rolf as I can be guaranteed of the same guy each time. At least i know he willbe there to compain to.
I have broken in 3 wealth package managers, all girls. 1 left for promotion, 2 got pregnant, the present one CBA took away and I now have a "Panel" who are yet to reply to my last call
I use to do what you say. From 1991 to 1995 I had my own business and banked with Advance. Despite low cashflow, a bottle of port for the manager and chocolates for the girls each christmas worked a treat. Got the loans I needed.
Ironically when St George bought then they lost me as a client when they refused to insure my new home because it was 100 years old and could have dodgy boundaries.
Anyone who knows surveys knows that this is rubbish because it was built before the boundaries and therefore cannot be wrong! The boundaries follow the walls....
I insured with someone else and eventually left St G for A Non Banker. This was the worst experience and very scary. Sine then the laws have tightened.
Overall CBA have been good but the constant retraining , lost paperwork and promises that don't deliver simply wore me out.
So I could spend a hour with them trying to fix it or work for a client and clear $130. No brainer! I dont even mind the annual fee but when they chip away at the benefits or make the essentially freebees to anyone who gripps it is an insult.
Time to change including cards which I put there $5k a month so they will hate that one. May try the new Amex with all the bonus points of 1.5 for $1.
Peter 147
Yes I will be using Rolf as I can be guaranteed of the same guy each time. At least i know he willbe there to compain to.
I have broken in 3 wealth package managers, all girls. 1 left for promotion, 2 got pregnant, the present one CBA took away and I now have a "Panel" who are yet to reply to my last call
I use to do what you say. From 1991 to 1995 I had my own business and banked with Advance. Despite low cashflow, a bottle of port for the manager and chocolates for the girls each christmas worked a treat. Got the loans I needed.
Ironically when St George bought then they lost me as a client when they refused to insure my new home because it was 100 years old and could have dodgy boundaries.
Anyone who knows surveys knows that this is rubbish because it was built before the boundaries and therefore cannot be wrong! The boundaries follow the walls....
I insured with someone else and eventually left St G for A Non Banker. This was the worst experience and very scary. Sine then the laws have tightened.
Overall CBA have been good but the constant retraining , lost paperwork and promises that don't deliver simply wore me out.
So I could spend a hour with them trying to fix it or work for a client and clear $130. No brainer! I dont even mind the annual fee but when they chip away at the benefits or make the essentially freebees to anyone who gripps it is an insult.
Time to change including cards which I put there $5k a month so they will hate that one. May try the new Amex with all the bonus points of 1.5 for $1.
Peter 147
Sorry friends for the late reply,
CBA verdict : Either to have the 1st year honeymoon rate at 5.99% then 0.5% discount on subsequent years or 0.7% discount from the start.
I went for the 1st option but unfortunately the transaction fell through. There are unapproved structures in the house. The agent said there was no approval required for internal structure changes. The building inspector said they were approved as shown in the compliance report. I could not find these changes in the report. I contacted the Gov. agency they told me approval was needed for load-bearing walls. Everybody blamed each other. I couldn't talk directly to the owner so at the end I gave up. At least I've been sleeping much better after making that decision.
Regards
GMHuey
CBA verdict : Either to have the 1st year honeymoon rate at 5.99% then 0.5% discount on subsequent years or 0.7% discount from the start.
I went for the 1st option but unfortunately the transaction fell through. There are unapproved structures in the house. The agent said there was no approval required for internal structure changes. The building inspector said they were approved as shown in the compliance report. I could not find these changes in the report. I contacted the Gov. agency they told me approval was needed for load-bearing walls. Everybody blamed each other. I couldn't talk directly to the owner so at the end I gave up. At least I've been sleeping much better after making that decision.
Regards
GMHuey
Peter I know what you mean about advance, that was a great bank, delegation in the branch to approve & everything, done just over the phone no problems.
I had a portfolio loan before St George got ahold of it. They were good but once they started charging me $10 on my sub accounts (this was about 4 years ago) I flicked them for CBA & suppose I got lucky with the guy I landed with. St G since fixed their ways a bit but in Brisbane their lack of branches was a pain in the proverbial when I'd get a cheque or had to do daily banking. End of the day I couldnt see myself going back to them anytime soon.
I've got a hunch that long term, St G will merge with Suncorp as they both compliment each other, and the head of St George and Suncorp both used to work for CBA.
Huey maybe in Qld they are more keen for loans and negotiable on what they give away... might pay to ask at another branch in a different area... or tell the branch you're going thru Rolf which might shake them up and remotivate them.
I had a portfolio loan before St George got ahold of it. They were good but once they started charging me $10 on my sub accounts (this was about 4 years ago) I flicked them for CBA & suppose I got lucky with the guy I landed with. St G since fixed their ways a bit but in Brisbane their lack of branches was a pain in the proverbial when I'd get a cheque or had to do daily banking. End of the day I couldnt see myself going back to them anytime soon.
I've got a hunch that long term, St G will merge with Suncorp as they both compliment each other, and the head of St George and Suncorp both used to work for CBA.
Huey maybe in Qld they are more keen for loans and negotiable on what they give away... might pay to ask at another branch in a different area... or tell the branch you're going thru Rolf which might shake them up and remotivate them.
Backflip
CBA Backflip
I have the letter in my hand. In response to customer feedback they say.
Actually encouraging they are listening as I (amongst many others) wrote a savage email complaining.
A start... Peter 147
CBA Backflip
I have the letter in my hand. In response to customer feedback they say.
Actually encouraging they are listening as I (amongst many others) wrote a savage email complaining.
A start... Peter 147
Similar threads
