What is the best discount on rates you are getting? Post your here?

[Peter 14.7]

Giday All

Please post what discount due to wealth/professional package
good customer deal, whatever:

1. you are getting from your bank?
2. which bank?
3. what fee?
4. did you go bank or broker?
5. any special factors that worth knowing? AND
6. what is your lend total/no of loans (optional)
7. is your LVR above or below 80% (optional)

I am:

1. 0.7%
2. CBA
3. $375ish a year with free card
4. direct but via CBA innovation an in house broker?
5. no special extras?
6. just under $1M
7. under 80%

Thanks

Peter 14.7

 

[neK]

you are getting from your bank?
0.9% (had a choice between 1% on new loan or 0.9% on all loans. Took the 0.9% because it worked out better for me).

which bank?
Westpac

what fee?
Premier Advantage - $395 pa

did you go bank or broker?
Bank

 

[mary&mat]

1. 0.8...& I think it's 0.9 off LOC
2. Wesuck
3. Premier Advantage $395 pa
4. Originally set up through broker, but I called myself & got the 0.8 instead of the standard 0.7
5. I think the 'special extras' are that we get that discount off all our loans. There are meant to be less fees/charges, but I really don't notice that much.

(I think it may be pertinent, if people wish to answer....how many loans do you have with a lender & does that therefore mean you get a better discount.) We only have 3 loans & one LOC.

Cheers Peter, intereseting, especially now the banks are telling us to 'face the wall & bend' hee hee

update: LVR 66%
# of loans: 3

 

[csc2]

0.9% without any effort. Westpac

 

[Peter 14.7]

0.9% without any effort. Westpac

So no fee paid and dealt direct?

Peter

 

[mary&mat]

0.9% without any effort. Westpac

Not wanting to be too intrusive, but would you mind sharing how many loans you have with them?

 

[Peter 14.7]

(I think it may be pertinent, if people wish to answer....how many loans do you have with a lender & does that therefore mean you get a better discount.) We only have 3 loans & one LOC.

Cheers Peter, intereseting, especially now the banks are telling us to 'face the wall & bend' hee hee

LOL agree so I have amended the questions and my answers.

Peter

 

[Rolf Latham]

Hiya

In the current environment, you can get effective rate variable rates of sub 7s ( not incl app or monthlies)

The challenge as always ( and worse now) is 100 pts off XYZ bank might mean diddly in a few months time.

Recent case in point, people changing from WBC to NAB.

Go harder with the existing lender would be my first call. There is NO reason why they would not go 80 or 85 pts on that exposure.

ta
rolf

 

[Peter 14.7]

Hiya

In the current environment, you can get effective rate variable rates of sub 7s ( not incl app or monthlies)

The challenge as always ( and worse now) is 100 pts off XYZ bank might mean diddly in a few months time.

Recent case in point, people changing from WBC to NAB.

Go harder with the existing lender would be my first call. There is NO reason why they would not go 80 or 85 pts on that exposure.

ta
rolf

Thanks Rolf.

That is my strategy at this stage.

Peter

 

[MichaelW]

I was 80bp with WBC talking about 90bp when I give them my insurance and super business which I've now done, but I've also just gone and locked them all in at 6.99% for three years with WBC so that variable discount is all a bit irrelevant now...

Cheers,
Michael

 

[csc2]

So no fee paid and dealt direct?

Peter

correct, zero bank fees, went to the actual bank....

i had several cash investments with them at the time, substancial amount from two property sales so that helped a hastle free deal

 

[jonmardell]

In the current environment you have to be careful about quoting % discounts off the Standard Variable rate as the majors all have different standard variable rates at the moment. You have to compare apples with apples. We have also seen a significant increase in willingness to increase discounts above the advertised rate particularly Westpac at the moment but over the last 18 months Homeside (NAB) have had sharper rates then the other majors

 

[Peter 14.7]

Noted, % off the rates, as obviously the final figure is what matters like MW 6.99% for 3 years. The objective of this thread is to see if the big 4 are still dealing.

From this I can say no annual fee please and 0.9% or I walk, Thanks Peter

 

[Luv2Travel]

you are getting from your bank?

0.7%

which bank?

Westpac

what fee?

$395/annum

did you go bank or broker?

Bank

what is your lend total/no of loans (optional)

3

is your LVR above or below 80% (optional)

Below

 

[Brett IP]

you are "offered" from your bank?

0.91%

which bank?

Westpac

what fee?

$395/annum

did you go bank or broker?

Bank

what is your lend total/no of loans (optional)

2

is your LVR above or below 80% (optional)

Below

Have to be careful noting that Westpac are 0.19 above NAB & even 0.05 above their closest competitor, so even a 0.89 discount off the SVR only brings you in line with NAB. So yeah, the discounts whilst good, are not as great as they initially sound.

 

[jonmardell]

i think it is safe to say that at the moment it is more important then ever to ask the questions from your lender/broker cause some of these discounts that people are stating have not been around for the last couple of years imo.

 

[wobbycarly]

1. you are getting from your bank?
2. which bank?
3. what fee?
4. did you go bank or broker?
5. any special factors that worth knowing? AND
6. what is your lend total/no of loans (optional)
7. is your LVR above or below 80% (optional)

1. .85% discount
2. ANZ
3. $375? $395? <$400 anyway
4. Broker (bank offered .77%, broker got us .85%)
5. No special factors
6. Lend ≈$1M - across 5 loans
7. below 80% ≈65%

 

[Peter 14.7]

Great Feedback.

The Forum is very good for getting the facts banks dont want you to know.

I do know someone on 0/9% with CBA FYI.

Personally, I am still waiting for CBA to getback to my request. Is that good or bad? The longer they muck about themore ammo I have to go to wife and plead my case to switch.

Peter

 

[Rolf Latham]

Great Feedback.

The Forum is very good for getting the facts banks dont want you to know.

What I find amazing is that in reality the major lenders dont actually "know" the chinks in each others oferings and policies.

Very much a symptom of a widget focussed, transactional provider, rather than a market/ sales driven, client outcome focussed organisation.

Isnt that different to the markering they attempt

This is just one of the reasons many lenders have lost much credibility with the general public, their message is very inconsistent.

ta
rolf

 

[Shaneelastic]

1% off svr
lvr 65%
Loans 550K
very good relationship with bank from job