What is your current borrowing rate?
- Thread starter Gentle_Chief
- Start date
Is it normal to get a discount from the SVR if you're only borrowing about $240k? I thought the only way to get discounts were through professional packages but it seems like people are getting them even without them?? I'm currently on 6.91% with anz breakfree and I feel as though I'm getting ripped off as a 0.5% discount is pretty poor if people are getting this or more by negotiation anyway! Although I'm still ahead at the moment as they waived a few fees for certain things...
Yeah it was the August copy "How I quit my day job" issue. Great read. Now I'm just wondering if Phil Anderson is also on the forum as that would mean all 3 investors interviewed are ss forumites.
Hi RT
That was your 2000th post !
Snuck up didnt it
We look fwd to many more educational and first hand experience posts
ta
rolf
That was your 2000th post !
Snuck up didnt it
We look fwd to many more educational and first hand experience posts
ta
rolf
Hi Art
THere are lenders that do rats lower than this regardless of volume.
Adelaide bank 6.74 with offset
Choicelend 6.65 no offset
and a few others
ta
rolf
$740K loan paying 6.29% variable with St George
That's good, is it an introductory 12 month rate or for the life of the loan?
Hi Jon,
How are you getting the extra .1% off?
I've got the wealth package and on max discount (+750k burrowing) and on 6.66 all property related loans
My broker got it, but I don't think he did anything special, we initially had borrowings of about 900k, at the standard 70 point discount, and when we bought another house and went over the $1.5m mark they increased the discount to 80 points.
We sit a fixed amount above the reserve rate.
The terms were set when we first established the loan 12 years ago and it has served us well.
Mind you, St George are continually trying to encourage us to close this line of credit with some great some 6 months rates but we are not silly.
We also only pay $5 a month in fees and have a free valuation every 5 years.
Mind you, the customer service is atricious and we have twice has the area manager having to come to the house to drop off documents twice the year alone.
For a bank that advertises it customer service, we really see it.
Never heard of that, well done!
Seems much better than going up and down relative to the bank's SVR.
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