Loans submitted on and after Monday 23 March 2009 will be entitled to the standard Mortgage Advantage Tier discounts based on total home lending.
The standard Mortgage Advantage tier discounts are:
Total Home Lending Balance
$350,000 to $749,999
Be interesting to see how the other lenders react.god_of_moneyParticipant@god_of_moneyJoin Date: 2008Post Count: 970
I thought it is only available for wealth package…
I might be wrong…
5.74%-0.7% = 5.04%.. very competitive.. much better than myrate
Yes MAV is their Pro Pack and w.e.f from 23.3.09 only loans over $750K will only get the 0.7% discount.TerrywParticipant@terrywJoin Date: 2001Post Count: 16,213
ANZ did similar a while back. Others will follow soon I imagine. Poor banks are not making enough profit – even though they have kept around 1% extra with the recent cuts by not passing it on.
Agreed, so much for the CBA being cheaper than everyone else with their big 100 bps reduction after the last round of cuts.Bobbajob101Participant@bobbajob101Join Date: 2008Post Count: 4
I've found if you really push CBA then you can do better than the top end 0.7% discount, however i negotiated with them on my loans in mid '08. If you can prove you're in a strong financial position then it's probably still worth having a go.
My big learning – never accept their initial offer and negotiate directly, not via a broker.
Hate to disagree with you but i think those days have gone.
We usually manage to negoitate a rate better than the clients have done directly due to the volume of business we write with each lender.
In mid 2008 we were getting 0.9-1% discount for good clients.v8ghiaMember@v8ghiaJoin Date: 2005Post Count: 871
The NAB and Westpac seem to be the most competitive with fixed rates atm, and from looking at each majors interest rates, I notice nab have just done the oppostie of what this thread mentions with the variable/package rates….and this week reduced their 'package' interest rate discounts further. ) 0.6% disc now from svr for $100k-$250k loans, and now the full 0.7 for $250k plus loans – no haggling required! And check out the 2 & 3 yr fixed rates!. I cant help wondering if next week others will reduce the fixed rates further – and how many people will lock in this time – or be 'greedy' and see if they get even lower. I still reckon for an IP, if a 4 or 5 year rate ever gets to starting with a '5' it would make sense to 'go for it'.
Regardless,, the 'on line' style deals/lenders now seem to offer very little if any discounts from some of the major bank deals – and possibly the best thing to negotiate to save $ with now is an application fee – or if you are really good – a package fee discount/waiver for the first year maybe! Although not a common thing with any of the 'big 4' atm.
Times they are 'a changin.