Quick question!
What's a good Westpac investment property loan package available currently for Principle & Interest buy and hold rental?
Daniel
Regretfully at the mo with Wesuck there isnt one as they clearly dont want new business and have priced themselves well out of the market.
Depending on if it is a one off deal or not the usual Pro package comes with bells and whistles but something like the Rocket Repay might be the way to go. Dont like application fee though.
If it doesnt have to be Wesuck then there are better priced options.
Richard Taylor | Australia's leading private lender
As it is now have an application in process with CBA, an appointment with Westpac in the morning and NAB appointment on Monday. I will take what i can get but if i know before going in i will suggest that. Only got till April 16th to get pre approval.
I usually ask for a free application. Was $200 at NAB last time, a $400 discount but that manager has moved town and to business banking.
7% in this climate that does suck!
Though bells and whistles would be good. I don't mind a basic straight out simple 30 year, P&I paying direct debit weekly and no annual fees or monthly fees, set and forget. This how my NAB loan does now at 5.24%. But these recent rises will kick in August. I will often have savings building up between saving deposits so offset would be good. Not sure amounts under 100k support that?
Hey Jaffa. Your old NAB business banker may still look after you……discreetely. Unfortunately all NAB busineess banking homeloans are off shored now for input, so no 'on the spot' results……., but you should get an answer in a couple of days still – and they do have the best rates of the majors. That said, if you apply through the retail side, and are nice ' n friendly, I'm sure you'll get a $300 app fee on a basic variable homeloan, or if you have exisitng lending, swap to the choice package and you will have ;'no application fee' on your new one other then the $395 annual fee. All the best with the deal. Cheers.
The manager gave Provisional Approval to a Basic Loan. Would not budge on fees. Might have to get back to that NAB manager
. Might not be for this loan though.Even if you cant charm them, they do have up to $200 discretion on the base variable rate home loan (a lot of their managers would be oblivious 'cos they don't read much and are too busy reporting daily on their insurance sales, how many conversations their bankers had, and how many proactive phone calls they made. It is $600, less $100 if you have a nab card, and another $100 if you have your salary direct credited into a nab account. Good no frills loan, but their choice pack loans are still the way to go if you have more than $250k combined borrowings and need accounts/cards etc. All the best.
I believe i should bring an Client Application Fees Document for the bank to sign of my $600 fee. It takes a considerable amount of time to collate updated documents, scan and send then driving and talking over phones, get to the appointment, etc. I thought banks made money on Interest.
Sorry Qlds007 Wesuck approved the loan today just thankful i could get something!
. Might not be for this loan though.You must be logged in to reply to this topic. If you don't have an account, you can register here.
