What are you paying for your Variable rate?

[Qlds007]

Adelaide Bank Limited

 

[dnts]

Richard,
Thank you...

Please advice...
where can i find the product details
for ABL 5 yr fixed I/O with 100% offset?

Thanks.
Sean

 

[Rolf Latham]

attached

ta

rolf

 

[JamesGG]

Hiya,

I just received a letter from ING overnight that tells me, for reasons unknown, that they have kindly dropped my variable rate down to 6.65%.

Didn't see that coming, but, I'm not complaining

Cheers

James.

 

[IanF]

James,

Try pushing them lower. Tell 'em that NAB and WestPac can do 6.52%.

If you don't ask, you don't get!

Ian

 

[MichaelW]

I agree with Ian,

It worked for me. Everybody here needs to realise that 0.7% (70 basis points) is now the standard pacaked loans reduction. We're special so we deserve 0.8%.

Go ask for it.

Cheers,
Michael.

 

[austini]

Hi Gang,

For those with NAB. What's the best rate you have been able to get on a LOC (FlexiPlus) loan as opposed to a P&I Variable rate loan?

Thanks in advance - Gordon

 

[Rolf Latham]

Flexi Plus isnt very flex in rate we have found :O)

ta
rolf

 

[austini]

Thanks Rolf,

Our personal banker which provided fantastic service has moved on. So I'm gearing up to battle for a better rate than what we have now. Given our circumstances I'm sure we can do better than the 6.57% on P&I variable and 6.82% LOC rates than we currently have with NAB for loans in our personal name and Trusts.

One good thing about NAB however has been that they are hassle free when dealing with Disc Trust & HDT loans.

Regards - Gordon

 

[JamesGG]

Try pushing them lower. Tell 'em that NAB and WestPac can do 6.52%.

Ian

Hiya,

For the record, it is a PPOR loan of a measly $133k, so I am not sure how much bargaining power I have.

But, Rolf Schaefer is looking to work his magic for me sometime in the next few weeks once I have finished painting and landscaping. We'll see what happens then...

Cheers

James.

 

[stevem]

Hi Damon, All,

Mine is:
PPOR 6.45% variable HomePath no Professional Package (PP) I also found them difficult to deal with at setup, but with persitence it was all sorted out.
IP1 6.49% 5yr fixed HBSC no PP expires in a few months.

Thanks

 

[thedude]

Hi Steve,

Nice rate. Is there any ongoing fees with each of your loans? and what options do you have with them? eg Offset account etc

Cheers

Damon

 

[stevem]

Hi Damon,

No ongoing fees or annual fees for either loan, no offsets possible also which is a pity. The HomePath loan has a redraw facilty which is nice, however I believe they now have a Deferred Establishment Fee, which they didnt when I took the loan, check out http://www.homepath.com.au/

Thanks
Steve

 

[Doncossack]

Hi,
Got two P+I loans thru CBA's wealth package $300 year fees
88k 6.82
170k 6.82

With a total of 258K what do you think of my bargaining power to get a lower rate?
Any similiar experiences with CBA?

Thanks in advance

 

[dnts]

Hi Rolf,

Thank you for the info about ADL 6.55%p.a._5yr fixed plus 100% Offset?
Is it a current rate?
ADL website Home loan Rates_SA Only 20/02/06
5.25%p.a. 6 Mths fixed CCR 7.32%p.a.
5.99%p.a. 12 mths fixed_CCR 7.29%p.a.
Please advice where can i look for 6.55%p.a...is it other website?

and...
What do you think about CBA 3 yr Special Rate saver?
which one is better offer?

Thanks...
Sean

 

[Rolf Latham]

Hi Sean

The 6.55 finished some time ago, its now 6.79 I believe (lazy me)

The CBA rate saver and the ABL fixed products cant be compared.

You would use the rate saver where you DONT have a need to park deductible money against the loan.

You would also use ABL product where you have a high propertion of deductible debt, taxable income and are struggling with serviceability of the CBA model.

Decide What you want first Id say

ta
rolf

 

[traceyim]

6.55% Fixed 3 years

Suncorp have a 3yr fixed rate at 6.55% including low doc at the moment!

Tracey

 

[MichaelW]

Hi,
Got two P+I loans thru CBA's wealth package $300 year fees
88k 6.82
170k 6.82

With a total of 258K what do you think of my bargaining power to get a lower rate?
Any similiar experiences with CBA?

Thanks in advance

Don,

Heaps of power! Just print my post, or Dale's above stating how I got my standard variable rate down to 6.52% (0.8% discount) on my P&I loans with WBC. Take this to your banker and demand they match it or you'll walk. They'll put it to their retention department and the worst result you'll get is a reduction to 6.62% (0.7% discount) as that seems to be the going rate now on wealth/professional packages. 6.82% is WAAAAY too high.

I'm dumbfounded how many people haven't demanded these lower rates from their banks yet!

On $258K, a 0.3% reduction in rate will save you $774 a year! And that amount compounds if you leave it off the mortgage instead of spending it.

Don't muck around, get out there and get your reduction.
Cheers,
Michael.

 

[Peter 14.7]

Hi All

Great to see such results. I am working on my LOC and will report back.

Peter 147

 

[Candide]

On $258K, a 0.3% reduction in rate will save you $774 a year! And that amount compounds if you leave it off the mortgage instead of spending it.

.

Sorry but I do not think this is anywhere near correct. Firstly, Westpac charge how much per annum for the proff, pack - $395 or is it more?

Secondly, you are forgetting the tax decductability of the interest payments which diminish (by about half) of any perceived savings.

Thirdly, and this is perhpas more important than all, aggregating your loans with the same Bank for the sake of a miniscule interest rate discount (which I don't beleive exists) is pure folly. Issues such as servicability and valuations immediately come to mind - suffice to say any perceived value of an interest rate discount deserves closer scrutiny.


$$$$$$$$$$$$$$$$$$$$$$