- s0805 wrote:Terryw wrote:s0805 wrote:Jamie M wrote:Just had ANZ do 5.44% on similar numbers.
Cheers
Jamie
Hi Jamie,
No luck with the negotiation. ANZ advised unless if I increase my lending to 700K they can't consider any discount.
Any other suggestions guys…..
Cheers
Write to them and ask for a payout figure because you are moving your loans across to bankwest
Hi Guys,
Just end up running the numbers and it seems like it will take me atleast a year to be better off if I move. A year is long time and situation (with extra lending) could change, so decided not to.
thanks for your all helps, it was great experience negotiating with lender straight (rather than broker…) bit confident now…..
cheers
I wasn’t suggesting you 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
I tried to do "price match" recently with ANZ Mortgage retention team. They are aware of bluffing tactics (ie. asking payout figure).
My current rate is 5.4 % (1% disc through breakfree package). They declined to drop it further.
Yeah I found have that it is very hard for ANZ to go into the 5.3's. Having said that it is still quite competitive.
Regards
Shahin
TheFinanceShop | Elite Property Finance
http://www.elitepropertyfinance.com
Email Me | Phone MeResidential and Commercial Brokerage
god_of_money wrote:I tried to do "price match" recently with ANZ Mortgage retention team. They are aware of bluffing tactics (ie. asking payout figure).My current rate is 5.4 % (1% disc through breakfree package). They declined to drop it further.
That's a decent rate anyway – I wouldn't worry too much. It's hard to get a 1% discount with them these days. Not like 18 months ago when it was the norm.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Jamie M wrote:god_of_money wrote:I tried to do "price match" recently with ANZ Mortgage retention team. They are aware of bluffing tactics (ie. asking payout figure).My current rate is 5.4 % (1% disc through breakfree package). They declined to drop it further.
That's a decent rate anyway – I wouldn't worry too much. It's hard to get a 1% discount with them these days. Not like 18 months ago when it was the norm.
Cheers
Jamie
I agree with Jamie (1% disc through breakfree package) is very good rate. I am also with their breakfree package but not getting that….. talking to ANZ they made it very clear that they will not even going to consider my application for rate reduction…(verbally they have confirmed with their pricing team apparently…) I told them i know some of the customers are able to get 1% discount on similar lending (bluffing ofcourse…..), they said they are happy to look at it then…but needed details….& then i backed off saying i should not disclose others information……
wouldn't mind getting Jamie's view on this….do broker consider this ethically wrong to share the similar portfolio information with same lender to push for better rates for customers….from personal point of view i would not mind someone comparing my offer to get same offer from lender…..i better have someone customer saving money then lender making bigger profits out of them….
I have spoken to their "pricing team" and being told the MAX they will give for "new customer" is 0.96% disc
They might offer 1.05-1.1% ~2-3 years ago depending on the LVR/application/amount etc
Anyone would light to shed the lights on current "best" rate for BIG4
That's incorrect as I have done numerous this week but max was 1.00%.
The thing you need to understand is that the discount doesn't mean anything – you need to look at the actual standard variable rate to start with. If you do this you will realise that the 1.00% discount off ANZ's rate is great vs the other majors.
Regards
Shahin
TheFinanceShop | Elite Property Finance
http://www.elitepropertyfinance.com
Email Me | Phone MeResidential and Commercial Brokerage
god_of_money wrote:I have spoken to their "pricing team" and being told the MAX they will give for "new customer" is 0.96% discThey might offer 1.05-1.1% ~2-3 years ago depending on the LVR/application/amount etc
Anyone would light to shed the lights on current "best" rate for BIG4
1% off the SVR with ANZ is good. If you want lower, than maybe look at a no frills online budget lender like Ubank but be prepared to lose some of the features/policies that you enjoy now.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
I have 1.1% with Anz but then i must admit my lvr is down 6.3% with borrowings now at $1.03M and security value at $20.3M.
If they offer you 1% take it an run.
With SGB we have had them offer 1% discount and waive the Annual fee but remember it is not about the now but about the future.
Anz Bank have one of the poorest serviceability models and accessing equity is a nightmare.
You are not going to find any Broker want to negotiate the deal on your behalf as he / she wont even receive the ongoing trail commission.
If you want to push forward with your investing then i would probably be switching lenders if you are happy sitting on your hands then stay put.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
My current LVR is 40% ( 680k loan against security value of 1750k) spread across 3 properties.
I am not sure why my mortgage broker recommended ANZ bank despite poor serviceability and
difficult in accessing the future equity
GOM your guess is as good as mine.
All i hope is they are separate loans and not cross collateraised as at least that way you can refinance one of the loans away and keep moving forward.
Personally i would clean it up now rather than later as they are not the quickest in the discharge department.
When you want to move forward last thing you want is your exiting lender on be on a go slow and find you can't purchase as you can't access your equity quick enough.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Does anyone know how much my broker will earn if the disc rate is 1% off the breakfree package?
Interesting to know….
Brokers get paid an upfront and trail commission (some lenders don't pay trail) on the loan.
The level of discount they arrange on the loan has no effect on the commission their paid – not that I know of anyway and certainly not with ANZ.
A decent broker will aim to get the best deal possible for their client irrespective of the commission they're paid – any broker that puts their income in front of their clients needs won't last long in the industry.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Hi Jamie,
You views on below pls….
Quote:That's a decent rate anyway – I wouldn't worry too much. It's hard to get a 1% discount with them these days. Not like 18 months ago when it was the norm.
Cheers
Jamie
I agree with Jamie (1% disc through breakfree package) is very good rate. I am also with their breakfree package but not getting that….. talking to ANZ they made it very clear that they will not even going to consider my application for rate reduction…(verbally they have confirmed with their pricing team apparently…) I told them i know some of the customers are able to get 1% discount on similar lending (bluffing ofcourse…..), they said they are happy to look at it then…but needed details….& then i backed off saying i should not disclose others information……
wouldn't mind getting Jamie's view on this….do broker consider this ethically wrong to share the similar portfolio information with same lender to push for better rates for customers….from personal point of view i would not mind someone comparing my offer to get same offer from lender…..i better have someone customer saving money then lender making bigger profits out of them….
Cheers..
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