Westpac is targeting the ideal property investor

Discussion in 'Loans & Mortgage Brokers' started by Beano, 8th Jun, 2019.

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  1. Beano

    Beano Well-Known Member

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    AFR 6 June 2019 15599721839681917006822.jpg
    $2k rebate on a $250k loan
     
    Beano, 8th Jun, 2019
    #1
  2. Yson

    Yson Well-Known Member

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    What does it mean?
     
    Yson, 8th Jun, 2019
    #2
  3. Cate Bell

    Cate Bell Well-Known Member

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    Yes, certain professions are always targeted as "ideal property investors". Nothing new.
     
    Cate Bell, 8th Jun, 2019
    #3
  4. chindonly

    chindonly Well-Known Member

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    Yep. Just moved two over.
     
    chindonly, 8th Jun, 2019
    #4
  5. Beano

    Beano Well-Known Member

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    Residential or commercial loans ?
     
    Beano, 8th Jun, 2019
    #5
  6. chindonly

    chindonly Well-Known Member

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    2 x Resi.
     
    chindonly, 8th Jun, 2019
    #6
  7. FFCHASER

    FFCHASER Member

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    me too jsut moved 2 res over to them and they paid the 4k rebate pretty quickly as well like only after 5business days
     
    FFCHASER, 8th Jun, 2019
    #7
  8. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    Wesuck service calc isnt pretty poor for multiple investors, in that they expect a 20 % vacancy rate for all IPs on average :)

    ta

    rolf
     
    Rolf Latham, 8th Jun, 2019
    #8
    big_ben02 likes this.
  9. Lacrim

    Lacrim Well-Known Member

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    Are they anal when it comes to $ spent on xyz expenses on statements?
     
    Lacrim, 8th Jun, 2019
    #9
  10. Beano

    Beano Well-Known Member

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    So some rentals 0% others 4% lol
     
    Beano, 8th Jun, 2019
    #10
  11. Tofubiscuit

    Tofubiscuit Well-Known Member

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    What rates did you get? I got a phone call about the rebate refi offer
     
    Tofubiscuit, 8th Jun, 2019
    #11
    Dean Collins likes this.
  12. Dean Collins

    Dean Collins Well-Known Member

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    Are they offering the $2k rebate for Fixed, IP, P+I as well?

    And what rate are you getting for 5 year fixed as I have a portfolio loan at St George that has gone variable that im looking to move over.
     
    Dean Collins, 9th Jun, 2019
    #12
  13. chindonly

    chindonly Well-Known Member

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    3.99 3yr fixed IO IP
     
    chindonly, 9th Jun, 2019
    #13
  14. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    No, westpac dont generally deconstruct expenses, unless the client profile vs the provided expense breakdown doesnt make sense

    ta
    rolf
     
    Rolf Latham, 9th Jun, 2019
    #14
    Lacrim likes this.
  15. big_ben02

    big_ben02 Well-Known Member

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    How long are Westpac currently taking to process a loan application?
     
    big_ben02, 9th Jun, 2019
    #15
  16. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    2 to 6 days depending on complexity and broker segmentation

    Ta

    Rolf
     
    Rolf Latham, 9th Jun, 2019
    #16
    big_ben02 likes this.
  17. big_ben02

    big_ben02 Well-Known Member

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    Thanks, I've been told up to 10 business days (my situation is relatively complex), so hoping it might be closer to the 6 days!
     
    big_ben02, 9th Jun, 2019
    #17
  18. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    Have the Val's been done ?

    Ta

    Rolf
     
    Rolf Latham, 9th Jun, 2019
    #18
  19. big_ben02

    big_ben02 Well-Known Member

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    Not yet
     
    big_ben02, 9th Jun, 2019
    #19
  20. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    There are a fewdays saved if they are ordered up front


    I'm assuming resi ?

    Ta

    Rolf
     
    Rolf Latham, 9th Jun, 2019
    #20
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