Discounts on Fixed rates

Discussion in 'Loans & Mortgage Brokers' started by standtall, 24th Mar, 2017.

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  1. standtall

    standtall Well-Known Member

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    So what are the realistic discounts you can expect on Fixed interest rates (if any)?

    I casually asked the relationship manager and he quoted the wealth package rates so wondering if I need to go back and negotiate.

    Cheers
     
  2. Redom

    Redom Mortgage Broker Business Plus Member

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    Depends on bank and timing; right now, 0.03% (CBA) - 0.05% (Westpac/St G) is usually achievable with majors. That may change with latest round of rate increases though.
     
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  3. josh123

    josh123 Well-Known Member

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    I spoke to anz and nab yesterday about fixed rates and was told unfortunately I couldn't get a discount.
     
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  4. standtall

    standtall Well-Known Member

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    0.03% so that means 3.96% for CBA?

    They are a lot more generous on variable rates.
     
  5. Redom

    Redom Mortgage Broker Business Plus Member

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    Hmm havent priced it for a few weeks, but yes have had 0.05% on OO and 0.03% on INV with them (2 year 4.16%). Variable rate discounts have shot to nothing though now, so as much as the headlines are SVR's are rising, discounts for new purchases are lousy at the moment too. Double whack on INV end rates.

    This time last year for smaller loan sizes it was an 1.5% discount, today with CBA its 0.60% in some cases!
     
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