Negotiating fee discounts

Discussion in 'Loans & Mortgage Brokers' started by noogie60, 2nd Nov, 2019.

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  1. noogie60

    noogie60 Well-Known Member

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    I'm looking at a refinancing and PPOR purchase that will have all the loans with one bank (Macquarie).
    This will leave me with 3 loans with them as well as my super (in their wrap product) as well as credit card, CMA, etc (a financial planner set up the super earlier, credit card was also from earlier)
    What are my chances of negotiating a discount on the mortgage fees, having this many products with them?
     
    noogie60, 2nd Nov, 2019
    #1
  2. The Y-man

    The Y-man Moderator Staff Member

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    Ask them or your broker channel?

    The Y-man
     
    The Y-man, 2nd Nov, 2019
    #2
  3. noogie60

    noogie60 Well-Known Member

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    Sydney
    I asked the broker, they said probably but I'd have to wait until it is all done to see what they were willing to offer.
    I was wondering if any else had been in a similar position what they were able to negotiate.
     
    noogie60, 2nd Nov, 2019
    #3
  4. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Low chance on fees
     
    Terry_w, 2nd Nov, 2019
    #4
  5. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    Much better to ask your planner to possibly implement an active debt recycle strategy.

    the mac product can be used, but isnt as flash as AMP Master Limit, especially for those on the highest tax bracket

    Many borrowers can save 10 to 100s of k on interest by using tax effective strategies

    Loans aint loans

    ta

    rolf
     
    Rolf Latham, 7th Nov, 2019
    #5