Westpac 90 Day Temporary discount

hello forumites,

When Westpac raised their interest rates out of line on the 04.Dec.09 by adding 0.45% when RBA increased by 0.25%, I had negotiated and recieved a 90 Day temporary Discount from Westpac. And so did many on this forum.

My extra discount expired on the 14.March.2010.

And given that interest rates are still not aligned, and Westpac has the costliest SVR on the market, has anyone tried to renegotiate the rollover of the temporary Discount for a further period?

I did try but was unsuccessful. Would like to hear your position....
 
Hi GC.

I got the extra 0.2% extended to June.

Got told I was very lucky :rolleyes: as many had been knocked back.

Regards
Marty
 
Hi GC.

I got the extra 0.2% extended to June.

Got told I was very lucky :rolleyes: as many had been knocked back.

Regards
Marty

Well done Kissfan! Good on you,
I am 'one' the many who got knocked back! Not sure why, maybe our borrowing is lower than yours. Thats my only guess....

Anyone else got an extension...?
 
.2% expired but got another .05% permanently... now on .85% discount. could have gone higher but I wasn't really prepared when I called them... will try again in the near future...

question - will the constant changing of discounts affect our credit file/rating?
 
tried but only got .8 as a permanent discount. we have half our loans fixed at 5.19% with WBC but when they come off in 2 years we will be putting our loans out to tender I think and see who comes in best. I have no loyalty to any bank anymore.
 
Nice work guys. How much loan balance we talking about here? We have a decent size with these mob and frankly the RM has dropped the ball here. Will be giving him a call this morning!
 
Nice work guys. How much loan balance we talking about here? We have a decent size with these mob and frankly the RM has dropped the ball here. Will be giving him a call this morning!

just over 1M... you have to be prepared with a figure from another bank which they will want to match (even if they know that they still have the highest rate among the big 4). been reading about NAB products and I may switch if WPC won't give a further discount.
 
Got .1% off permanently after the 90day period (0.8%).Took some serious arm twisting though i only have 700k with them but i do have all form's of insurance,saving's accounts ect with them.At first they were very blunt and gave me nothing so i walked out the door went to the other big 3 in the same street.

I was going to see them anyways as i have another property/loan on the way soon.Went back to westpac for round 2 before i even opened my mouth about the new loan or a greater discount they gave me the .1%.(not much i know but a win in my eyes)I swear it was only because she seen the notes & b/cards in my hands from the other bank's.The same women that was so rude/blunt to me only a few hrs before was acting like my best friend i was rather stunned by it haha.They didn't really help me much with the new loan though but that's another thread.
 
Some data from my files:

Date RBA's Cash Rate Westpac's SVR

08-May-07 6.25 8.07
08-Aug-07 6.50
10-Aug-07 8.32
07-Nov-07 6.75
12-Nov-07 8.57
14-Jan-08 8.72
06-Feb-08 7.00
08-Feb-08 8.97
05-Mar-08 7.25
11-Mar-08 9.27
02-Apr-08 9.37
02-May-08 9.47
17-Jul-08 9.61
03-Sep-09 7.00
04-Sep-08 9.36
08-Oct-08 6.00
13-Oct-08 8.56
27-Oct-08 8.36
05-Nov-08 5.25
10-Nov-08 7.71
03-Dec-08 4.25
08-Dec-08 6.91
04-Feb-09 3.25
09-Feb-09 5.91
08-Apr-09 3.00
20-Apr-09 5.81
07-Oct-09 3.25
12-Oct-09 6.06
03-Nov-09 3.50
06-Nov-09 6.31
01-Dec-09 3.75
04-Dec-09 6.76
02-Mar-10 4.00
05-Mar-10 7.01
06-Apr-10 4.25
07-Apr-10 7.26


P.S : - Just heard from our HFM that the Westpac SVR has increased by 0.25% in response to yesterday's RBA rate rise.
 
has anyone tried to renegotiate the rollover of the temporary Discount for a further period?

I did try but was unsuccessful. Would like to hear your position....

Yes,tried to negotiate today with no success! Out rate reverts tomorrow from 6.01% to 6.46%. Will try again tomorrow with another person!!

Regards Jason.
 
I got a permanent 0.95% base discount across all loans when the temporary discount expired. My loans were previously on a combination of 0.75 and 0.9 base discounts depending on when I had taken out the loan.

Original permanent discounts: Combination of 0.9 and 0.75
Temporary discounts: Combination of 1.1 and 0.95
Current permanent discounts: 0.95 for all loans
 
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