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I'm thinking about refinancing IP from CBA to STG (st george)

Discussion in 'Property Finance' started by fullylucky, 5th Jan, 2016.

  1. fullylucky

    fullylucky Well-Known Member

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    Has anyone had experience with them? Is St George any good?

    I like CBA's Netbank and customer service but just want a lower standard var interest rate. I worked out I will save $2,250 a year. If I make the switch is it worth it?

    STG rate = 4.4956%
    810k loan.
     
  2. D.T.

    D.T. Adelaide Property Manager Business Member

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    Is there some reason you don't use a broker?
     
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  3. Scott No Mates

    Scott No Mates Well-Known Member

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    No, it's the other way around ;)
     
  4. fullylucky

    fullylucky Well-Known Member

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    How do you know I am not using a broker?

    I view brokers as agents of lenders so their goals are biased towards lenders and might not be aligned with your goals.

    I just want some unbiased views from independent sources.
     
  5. D.T.

    D.T. Adelaide Property Manager Business Member

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    No, their agents of their clients. Find one that's aligned with your goals.
     
  6. Jess Peletier

    Jess Peletier Mortgage Broker - Australia Wide Business Member

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    Have you discussed with CBA? They may negoitate pricing for you.
     
  7. fullylucky

    fullylucky Well-Known Member

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    Not yet, I feel if I have an offer from another lender it will strength my BATNA which will help me with the negotiation with CBA.
     
  8. fullylucky

    fullylucky Well-Known Member

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    No. Their commission comes from the lender.
     
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  9. fullylucky

    fullylucky Well-Known Member

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    Anyone with experience with STG? in terms of online banking and ATM? If you make transfers is it fast like same day? or delibratly delayed for 2 or 3 days for no reason?

    Any deal breakers?
     
  10. MsAli

    MsAli Well-Known Member Premium Member

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    No. It takes a day or two unfortunately
     
  11. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    whats the estimated val ?

    ta
    rolf
     
  12. fullylucky

    fullylucky Well-Known Member

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    Q1. If you transferred from another STG account to homeloan account on say 06/01/2016 10am which date will the money be felt by STG homeloan account?

    Q2. If you transferred from a different bank to homeloan account on say 06/01/2016 10am which date will the money be felt by STG homeloan account?

    Q3. If you physically deposited cash at a STG branch on say 06/01/2016 10am which date will the money be felt by STG homeloan account?

    For CBA (commonwealth):
    Q1. same day.
    Q2. 2 - 3 days. (Mostly next day but not the same day.)
    Q3. counted from the day you deposited (same day).
     
  13. fullylucky

    fullylucky Well-Known Member

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    value? 750k? (land is 450k)
     
  14. tobe

    tobe Well-Known Member

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    St George is definitely the best deal for you. Don't wait.
     
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  15. D.T.

    D.T. Adelaide Property Manager Business Member

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    Computer says no.
     
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  16. Scott No Mates

    Scott No Mates Well-Known Member

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    That's the hypocrisy - independent doesn't mean promoting the bank which pays the best comms (sounds like financial planners once upon a time).
     
  17. Fullysickbro

    Fullysickbro Well-Known Member

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    I use st George/bank of Melb, and comm bank. No issues with em at all.
    Usually 2 days to transfer to other banks. Locked some in at 4.35%

    P.s. We have the same first name, cool.
     
  18. Wukong

    Wukong Well-Known Member

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    troll?
     
  19. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    800 loan on 750 val isnt going to fit well ?

    ta
    rolf
     
  20. MsAli

    MsAli Well-Known Member Premium Member

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    Don't think they are allowed to promote as "independent"