Westpac new discounts - Special Offer

[Rolf Schaefer]

Hi,
as of next week Monday, Westpac offers a special discount of 0.7% for all total lending > 250K.

So hold back your Westpac applications until next week Monday 11 April 05.

 

[NicW]

on which products?

I would not expect it across all loans

Nic.

 

[Rixter]

Hi,
as of next week Monday, Westpac offers a special discount of 0.7% for all total lending > 250K.

So hold back your Westpac applications until next week Monday 11 April 05.

Rolf , I signed my loan offers a few days ago........the 0.7% discount was already itemised.

 

[StuartW]

Westpac increased the discount to 0.70% for lending > $500k about a month ago. What Rolf is suggesting is that the lending benchmark is reducing from $500k to $250k (similiar to St George outside of NSW & ACT).

Stu

 

[Rolf Schaefer]

NicW,
the new discount is applied to all variable loans under the Premier Advantage Package (excl. First Option Product).

The discount is only available for new loans or increases (don't know yet the min increase required to get the new discount level).

 

[NicW]

Rolf - thanks.

Perhaps this opens the doors for those already getting the 0.7% discount to negotiate 0.8% ?

Nic.

 

[luckyone]

Is this going to be a permanent move or is this just going to be for a month or two?

Also, I have 3 loans with Westpac, so I am over $500K borrowing anyway. With one of them, I opened it when they had reduced the 0.7% discount to 0.6% discount. Is there a possibility of renegotiating with them so that I now get the 0.7% off? I know it's not much of a difference, but at the moment I feel like I am getting ripped off.

 

[NicW]

Westpac has also raised the $300/year fee to $395, so the saving is lost!

Nic.

 

[Nee]

they have too... so nice of them to let their customers know

 

[quoll]

they have too... so nice of them to let their customers know

I got a nice letter about this, didn't mention the 0.7%

I'll just have to do more loan shuffling to get my extra $95 bucks worth of their time.

cheers
quoll

 

[quoll]

Westpac has also raised the $300/year fee to $395, so the saving is lost!

Nic.

Just borrow more $$$ so the interest saving is greater than $95 bucks.

works for me

cheers
quoll

 

[quoll]

Is this going to be a permanent move or is this just going to be for a month or two?

Also, I have 3 loans with Westpac, so I am over $500K borrowing anyway. With one of them, I opened it when they had reduced the 0.7% discount to 0.6% discount. Is there a possibility of renegotiating with them so that I now get the 0.7% off? I know it's not much of a difference, but at the moment I feel like I am getting ripped off.

Don't worry about the renegotiate, just get rid of the old loans and have them create new loans, well as long as you don't have to spend on valuers, or other associated stuff.

We have done it a couple of times and that's what the yearly fee is good for.

cheers
quoll

 

[Rolf Schaefer]

Luckyone,
if you can increase your total borrowing (via top-up maybe) by only $20K you would qualify for all loans to get the 0.7% discount.