Westpac Premier Advantage Home Loan
- Thread starter Swany
- Start date
Nice work rixterhow much have you borrowed with WBC? (just trying to work out how much you have to borrow before they see you as a valued customer)...
$1.3 Million odd, in loans with that lender!
Hi people ,
I am about to sign of on my loan docs soon. My partner and I have moved all of loans to westpac. My concern is with my combo loan its a 190k fixed for 3 years at 4.99 and the other half standard v. The S.V attracts the .7 discount which is to be expected . The problem is the fixed portion when the 3 years runs out they will give me a 1.2% discount off the S.V. And the other half will stay at .7%
As I read through the other Loan docs they are all the same.... any that are fixed attract the 1.2% after 3 years and those that are S.V are just .7% .
My question is why will they give me the 1.2% in 3 years on the portion or loans that are fixed but not on the loans that are standard V.
I think they should just give me the 1.2% on anything thats Standard V from now and then when the fixed stuff comes out hook that up too.
The next thing is...if the 1.2% was applied at the start of the loan it would make the interest rate currently 4.71 so they tell me in the form......which would probably sway me away from locking in. Anyway maybe someone has the same problem .....I just want to get the best deal possible b4 I sign . If anyone wants to read the doc I can scan it just takes me time
I am about to sign of on my loan docs soon. My partner and I have moved all of loans to westpac. My concern is with my combo loan its a 190k fixed for 3 years at 4.99 and the other half standard v. The S.V attracts the .7 discount which is to be expected . The problem is the fixed portion when the 3 years runs out they will give me a 1.2% discount off the S.V. And the other half will stay at .7%
As I read through the other Loan docs they are all the same.... any that are fixed attract the 1.2% after 3 years and those that are S.V are just .7% .
My question is why will they give me the 1.2% in 3 years on the portion or loans that are fixed but not on the loans that are standard V.
I think they should just give me the 1.2% on anything thats Standard V from now and then when the fixed stuff comes out hook that up too.
The next thing is...if the 1.2% was applied at the start of the loan it would make the interest rate currently 4.71 so they tell me in the form......which would probably sway me away from locking in. Anyway maybe someone has the same problem .....I just want to get the best deal possible b4 I sign . If anyone wants to read the doc I can scan it just takes me time
I've just about to buy another IP with borrowings of over $350k from Westpac, have requested my MB to check if we can get a discount higher than .7% and have received the following response from Westpac Relationship Manager "sorry but we no longer price any deals" ... is this something new ?
Maybe once the loan is settled the trick might be to call the loan retention unit. Danwatto, any luck there ?
Cheers,
Amelia
Maybe once the loan is settled the trick might be to call the loan retention unit. Danwatto, any luck there ?
Cheers,
Amelia
Hiya Amelia
Chase it post settlement with retentions at WBC
Muchos easier .
ta
rolf
Chase it post settlement with retentions at WBC
Muchos easier .
ta
rolf
Hiya Wylie
I can comment, that unless the loans are restructured there is no loss to our income
ta
rolf
I can comment, that unless the loans are restructured there is no loss to our income
ta
rolf
Thanks from me too, Rolf. We need to beat the banks at their own game !
Cheers
Cheers
Westpac especially needs to know which side its bread is buttered on...............nice profits, they can give some back !
Im very much a win win win person when it comes to lending, its just of late most of the majors seem to be pushing the boundaries a little
ta
rolf
Im very much a win win win person when it comes to lending, its just of late most of the majors seem to be pushing the boundaries a little
ta
rolf
So how did you word it? Can you post a script of your conversation?
I guess it wasn't just blunt "Hi, can i have my discount increased to 0.85"?
Say that you have spoken to a broker and you have decided to refinance (say to CBA or NAB as they have the lowest standard variable rate at the moment) and you wanted to call your existing bank and ask if they would consider approving a better discount before you sign the refinance forms for the broker.
You need to show that your business is seriously at risk of being lost.
You need to show that your business is seriously at risk of being lost.
Sorry Strannik, I dont record my conversations...
But yes I asked them to increase it up to 85bps because I knew of other WBC clients with similar borrowings who were getting between 80bps & 90bps where a precedence had been set, so I split the difference.
The person I spoke to on the phone at TMC said they were not authorised to approve discounts above a set amount so they would have to pass it through to the next line of authority and would call me back - which they did with an affirmative decision.
Hope this helps.
Hi Amelia,
They probably won't do anything for $350k. We haven't settled yet but we could only get 0.7 and our loan is $700k.
After settlement we may ask for more, but we may end up going with fixed rates and they said they don't discount fixed rates...
At the moment RAMs is looking like a better fixed 10y rate but have to weigh that up against early exit fees
Anyone heard of fixed rates being given special discounts?
Cheers
Dan
Dan , yep I also get 20 basis point discount off Westpac fixed rates.
