What's the best discounted variable rate??

[ganadara]

Hi,

I have 1.5M(80% LVR) loans at CBA, and I'm currently looking for another 500K loan.
Currently I'm getting 0.85% discount from CBA for the exisiting 1.5M loans.

How do you think what's the best discount rate from major 4 banks with above situation?

Is there any person who get better than 1% discount with more than 2M or 1M loan amount?

Thank you!!

 

[Aaron_C]

Most banks will give you ~6.55% for that level of borrowings. You got leverage because of the loan sizes.

 

[Rolf Latham]

Hi Gan

A little will depend on the splits you currently have as well, plus the Loan to value ratio that the LENDER perceives you actually have, and if anything is currently fixed.

retentions teams at many lenders have finally gotten smarter.

When we rock up with, I want X or I am moving, they can usually assess if you have the willingness and the capacity to actually carry through with it.

We have recently had ok success with repricing some existing CBA clients, because the lender KNOWS we have done our homework, and we really DONT WANT to move the client, but we wont sit around either.

ta
rolf

 

[traveller]

I am currently at 6.51% with CBA which makes the discount 1.05% off their standard variable rate.
- Total Lend more then 1.5M and LVR less than 80%.
- All variable loans, no fixed....

 

[Nathan]

Can get 1.05% out there on those levels.

 

[ganadara]

Thank you for all, I'll try it with those info.

 

[Plantagenet]

Just moved from CBA to Westpac taking just over $1m with 80% lvr and a whopping 1.1% discount.