Hi
I would appreciate it if you could advise me what discounts do banks offer for total loans above 1 million, LVR for investment properties are 80%. also which banks are they?
Thanks a lot
Do you have a broker? They’ll be able to advise.
Most recent I arranged for this sort of deal was 4.38% with Nab broker.
Pretty sure 4.38% is ING’s advertised rate at present too.
Most of the other majors will come close to this – it has to be formally requested via their pricing channels.
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]
Thansks for your advice, Jamie.
sorry, but could you please help clarify -was the discount you organised 1.25% with NAB as the variable rate is 5.63%?Thanks
It’s a 1.28% discount off their standard variable rate :-)
All banks have different standard variable rates though – so it’s not so much the size of the discount that’s important but rather the net rate after the discount is applied.
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]
Focus on the rate not the discount. ING and Heritage are low at the moment for variable. ME Bank for fixed.
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
Terry is right. Who cares how the end number is diced up, it is how much out of pocket you are each month for your repayments that matters.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
@terry, as discussed previously….I prefer “fixed” so am curious who is ME Bank? and what sort of 3 and 5 year rates are they offering?
Dean
Have a look yourself. http://www.mebank.com.au/
Just watch out for the comparison rate.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
@richard do you know what sort of discounts are available on the 3/5 year fixed for multiple properties off the 3.99 and 4.39 quoted?
Not that much less than we are currently getting from St George after all their published and unpublished discounts are applied.
Yes sure do = NONE
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Richard is right I just got someone a 0% discount at ME Bank. ie they don’t give discounts. Even on a $2mil loan unfortunately.
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
At least their transparent about their pricing :-)
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 would prefer this approach rather than having to constantly apply for various discounts with bank, which seem to be given as standard policy anyway. So why not just build the discount in from the start.
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
Yes agree.
We get the client 1.1% discount and in a year the client rings the Bank and they offer him 1.2% and he is now convinced that he managed to negotiate the additional discount himself.
At least with ME you now that no one else is getting anything better with them.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
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