How much is your total borrowings with ANZ?
What are you paying for your Variable rate?
- Thread starter thedude
- Start date
normal discount at that level is 0.6%; however, sometimes it is possible to get special pricing.
wapanther said:
Hi wapanther,
I had to ring ANZ around 3 times before i got someone who was willing to help (eg go from 0.06% to 0.07%). Perservere and you will get it.
Edit: just fyi, my total loans are $380K, so you should be able to negotiate the 0.07%. I think i got put through to the "Loans specialist dept" and then they submitted a request for discount to the pricing dept based on what westpac's (or whoever for that matter) deal was. Good Luck.
Cheers
Damon
We also got 0.7 off ANZ when we said we were going to refinance with Westpac. So, maybe the mention of Westpac is the key!
This was several years ago now, but all our loans have the same amount off, even our business loan when we had it.
I think the other key for us was going thru a loan specialist at the branch. THe potential loss of commission may be a motivating factor.
Pen
This was several years ago now, but all our loans have the same amount off, even our business loan when we had it.
I think the other key for us was going thru a loan specialist at the branch. THe potential loss of commission may be a motivating factor.
Pen
AMP banking for PPOR in Coomera, 6.82% variable, pro fee of $349 per year.
IP's located in NZ, 9.55% (as at Dec 30) variable rate, BNZ, no fees or pro/package fees.
K
IP's located in NZ, 9.55% (as at Dec 30) variable rate, BNZ, no fees or pro/package fees.
K
Im from ANZ's Home Loans Hotline (1800 035 500) and I thought I would share some information with you regarding discounts etc....:
-There are two types of packages: Breakfree (where you pay the $295 p.a.) and also the Professional Package. These are two SEPERATE packages. To qualify for the professional package, you need to be earning min. $50k pa for single applicants and $75k p.a. for joint applicants (salary plus rental income can be included). This package would be like your Wealth Package etc...at other banks.
The professional package ONLY offers a discount off the interest rate, which are the same discounts that are applied under the breakfree HOWEVER, you only get an interest rate discount and that is all. No credit cards or loan approval fees waived and there is no annual $295 fee. So if you are only interested in a rate discount, this one may be more beneficial to you.
Also, it is not always the case that the higher the lending, the better the discount or fees waived etc....I had a case where I put a pricing request through on behalf of a client who had lending of over $1.4M for 3 properties and she wanted $600 of fees waived and the request was rejected by our pricing department. She was an existing client under the breakfree package. Maybe I had a grumpy pricing department staff member processing the request.....
I always say to clients who call me, I am more than happy to put a request for a better discount through to pricing. I cant guarantee anything, but I know that it definitely helps if you have a better quote elsewhere. So if you get a mortgage consultant from our team saying they cant put a request through, let me know who it is as this is wrong.
-There are two types of packages: Breakfree (where you pay the $295 p.a.) and also the Professional Package. These are two SEPERATE packages. To qualify for the professional package, you need to be earning min. $50k pa for single applicants and $75k p.a. for joint applicants (salary plus rental income can be included). This package would be like your Wealth Package etc...at other banks.
The professional package ONLY offers a discount off the interest rate, which are the same discounts that are applied under the breakfree HOWEVER, you only get an interest rate discount and that is all. No credit cards or loan approval fees waived and there is no annual $295 fee. So if you are only interested in a rate discount, this one may be more beneficial to you.
Also, it is not always the case that the higher the lending, the better the discount or fees waived etc....I had a case where I put a pricing request through on behalf of a client who had lending of over $1.4M for 3 properties and she wanted $600 of fees waived and the request was rejected by our pricing department. She was an existing client under the breakfree package. Maybe I had a grumpy pricing department staff member processing the request.....
I always say to clients who call me, I am more than happy to put a request for a better discount through to pricing. I cant guarantee anything, but I know that it definitely helps if you have a better quote elsewhere. So if you get a mortgage consultant from our team saying they cant put a request through, let me know who it is as this is wrong.
Hi...
Trying to negotiate a variable loan down at present. No-Doc loan on a high end residential investment property.
>1. What do you pay as an interest rate?
8.20%
>2. Whom are you with (CBA, NAB, Westpac, etc..)
Adelaide Bank
>3. Does that come tied with a professional package?
No.
>4. If so, how much for the package P.A.?" -----courtesy of Peter147
N/A.
>5. Total borrowings to get automated discount or negotiated discount
Discount applies when you hit a 60% loan value ratio.
- Ross
Trying to negotiate a variable loan down at present. No-Doc loan on a high end residential investment property.
>1. What do you pay as an interest rate?
8.20%
>2. Whom are you with (CBA, NAB, Westpac, etc..)
Adelaide Bank
>3. Does that come tied with a professional package?
No.
>4. If so, how much for the package P.A.?" -----courtesy of Peter147
N/A.
>5. Total borrowings to get automated discount or negotiated discount
Discount applies when you hit a 60% loan value ratio.
- Ross
Breakfree - important to note!
Hi all
I'm on the Breakfree package myself, and was told about the 0.7% discount . But you need (from memory) >$700k borrowings on the package. And you can only have 5 loans under it, so make sure you pick the ones that will give you the biggest bang for your buck if you have the option of putting some in and some out.
HOWEVER, If you want to do this for serviceability (or just want to pay less money each month) you MUST ask them to reduce your repayments to the minimum AFTER they've applied the discount. Otherwise your repayments stay the same, and you'll just pay your loans off a little bit sooner.
Tubs
Hi all
I'm on the Breakfree package myself, and was told about the 0.7% discount . But you need (from memory) >$700k borrowings on the package. And you can only have 5 loans under it, so make sure you pick the ones that will give you the biggest bang for your buck if you have the option of putting some in and some out.
HOWEVER, If you want to do this for serviceability (or just want to pay less money each month) you MUST ask them to reduce your repayments to the minimum AFTER they've applied the discount. Otherwise your repayments stay the same, and you'll just pay your loans off a little bit sooner.
Tubs
kero
i think the package fee w/westpac from what the forum says is higher - something like 395 p.a. vs 295 at anz.
you'll need to do the maths to figure out if the difference on your costs (legal, estab, valuation etc - whatever westpac charge for) + paying a higher annual fee is worth it
just my 2c anywayz
regards
L
i think the package fee w/westpac from what the forum says is higher - something like 395 p.a. vs 295 at anz.
you'll need to do the maths to figure out if the difference on your costs (legal, estab, valuation etc - whatever westpac charge for) + paying a higher annual fee is worth it
just my 2c anywayz
regards
L
ANZ has just increased the package to $340 per annum
