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

Not worried about approval.

Banks always under value. if I put it on the market right now it will sell for 900k easy.

Please stop going off topic. More experiences and anecdotes with STG.

 

How then will you be able to refinance over to STG?

Oh, that's right, you just tip in some 'wink wink' CASH...........



pinkboy

 

For some reason i read that as "Batman will help you with negotiation".... I must be tired.

 

I have paid off my ppor so i can use that as security.

 

Oh this gets better!


pinkboy

 

If rate is the single most important thing - then call CBA and ask them for a discount. They're ultra competitive at present - and don't like to lose customers.

Their online banking is better than most lenders too.

 

To be honest I like being in the "cba club" just questioning is it worth $2200 a year.

But at the same time I know some banks try to be stingy and say you deposited one or 2 days later and try to get the small interest in between.

 

Ok I'll give it a shot.

 

So you're cross collateralising?

You can join the DT club, I only charge half that.

 

yes exactly. i don't mind.

No thanks, I don't want to join your club. Thanks for the offer though.

 

When does CBA do the wealth pack annual cash grab? Anyone know the date?

I wanna decide to stay or change before then.

 

Ok

 

We're with CBA for 2 IP's, considered changing a few weeks back. Have the wealth package, and with discounts they offered and the wealth package discount, managed to lock in 4.39% i think it is for 3 years. Yes, i know it's fixed and it looks like you want variable, but as people mentioned here they're competitive right now.

 

I moved away from SGB to CBA a few years back mostly due to service levels.
SGB suck. They promise the world and deliver lemons.

This move will cost you a lot more than $2200/pa in the long term. Esspecially if you x your PPOR.

I really dont understand the motivation to do so. Its not even a .25% saving you are looking at. Go back to CBA and ask for a rate reduction.

If rate is the only driver - there are even cheaper options in the market than SGB with similarly damaging policies and service levels.

Payments for all banks to other banks will be the next day provided the transfer is made by the 'cut off' time (which is usually somewhere about 4pmEST).
Cash must be effective from the day of payment (even if you cant see it in your account till the next day)
Almost all banks have immidiate (same bank) transfers if completed online.

You need to remember that your online banking is just what you see. It is not the actual operating system of the bank. Hence why things you do today, often dont appear until tomorrow.

Blacky

 

What do you mean damaging policies?

Thanks.

 

Mortgage choice mid 2000's. Every franchise was remunerated exactly the same regardless of the lender but asic said they couldn't market as independant or unbiased, as they didn't use every lender in Australia.
These days mortgage choice and afg are about the only large aggregators left that aren't substantially owned by a bank.

 

Incorrect. Brokers receive different commissions from different lenders, and therefore there is an incentive present for them to use certain banks over others. Obviously, good brokers should have the 'clients' best interests at heart, however, it's naive to assume they all will.

@fullylucky is doing what any informed investor should do, simply getting his options presented to him and make an informed decision.

 

Thanks for the insightful info.

 

The comms from each are all basically the same. The test comes down to who they're employed by - answer is the client. The entire legislative regime requires you to justify your lender selection