I was wondering how much of a discount off the standard variable, most people are getting out there.
As we all know, the banks will give you 0.7% almost straight away, generally as long as the loan is over $250k.
I have heard of some investors that have been able to negotiate much bigger discounts, due to the loan size.
Over 1% discounts have been some of the amounts I have heard.How much have you been able to negotiate ??
depends on the size
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
what about a $2mill loan , or a $3 mill loan ??
Both would be full doc loans.
frini
At the moment i doubt you would get more than 0.8-0.9% however the important benchmark is not the rate reduction but the actual rate itself. With all of the 4 major lenders having a different Standard variable rate a 0.8% off one lender could actually be higher than a 0.7% off another.
Would need more information to provide you with an actual rate.
Richard Taylor | Australia's leading private lender
QLD007 makes a good point,,,,, but generally you could expect reductions such as
500k+…. 0.8%
1m+ 0.9 to 1% off maxhavent heard of more than 1%
Good to know they are still giving discounts!
Today, I tried to inquire about it at the CBA and they offered me a wealth package. hahahah!
Why would I pay $350 each year if some places are offering it for free :Sst g currently offer 1.50% off the svr fir the first year.
bankwest 0.90% off the average of the 4 major banks svr for 3 years. no exit fees either
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Is this topic about honeymoon discounts or discounts for the life of the loan?
life. But i thought I would add those as the st g one reverts to the normal discount after a year – you get a bonus during the first year. The BW one reverts to a higher rate, but 3 years of low rate and no exit fee means cheap to move.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Wow. Thanks Terryw! The bankwest one sounds great! But no exit fees? That sounds too good to be true!
Hi frini,
If you are looking into borrowing that amount of money from one lender in one go depending on the bank you may be able to move into private banking. From there the broker and private banker should be able to do more for you that just the retail product.
James
Mortgage Planner
1300 660 107
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