Whats you Interest rate?

Cheers......not much chop going direct, I actually spoke to them briefly yesterday.

Basically I'd need to apply for further lending with them or have an offer from another lender. Or....if earning more than $150k individually, I'd get a "CBA personal banker" and get a "really good" offer.

 

nah....we moved back to NSW 12 months ago brought forward our plan to work only casually, to have more time with the kids while they are young.

Pre apra we may have scraped over line still, but not now.

 

Get a broker. They can get you an offer to use, and get you a discount without doing any new lending or income verification.

 

yes you are right PPOR is 65% IP is 95% and are not fixed. Is this good.

 

As long as they're not fixed it's fine, it will need restructuring so you don't have to pay any LMI but if you've got servicing capacity it will be easy.

Fees will depend on lender, maybe a discharge fee which can be around $350, and whatever application fees are required (often none) and maybe a valuation fee (usually none) and some assorted government charges.

 

Hi all

I'm interested in the 1.5% discount of the STD with CBA however i'm currrently with CBA on about a 1.25% discount with about 3 mill lend

A question for the resisdent brokers how much extra would I have to borrow to be able to get the extra discount ie is it a matter of getting a extra say 100K line of credit

Obviously a bit annoyed that they seem to treat new customers better than existing loyal customers

Obviously I can threaten to leave again and see what happens

Many thanks in advance

Cheers

 

A $100k LOC should do it. You may be able to get a further discount off what you have with no new lending, but it won't be 1.5%.

CBA are also heavily discounting their fixed rates (2 and 3 year), so if you aren't doing much for the next couple of years that could be worth looking at.

 

Thanks Jess

I just spoke to my private banker and he wants me to borrow another 1 mil before he gives me the 1.5% discount

I think I might have a chat to a broker such as yourself and do a deal outside the bank

Do you like long distance relationships or best to deal with a broker in NSW

Cheers

 

Long distance is fine, most of us here are comfortable with it

 

Thanks Jess

Better discuss with wife first and get her onboard before I starting talking to pretty lady in Perth

 

lol - he wants you to borrow another mill. That's code for "can't be bothered writing a $100k application"

Whatever happened to responsible lending :-(

Hit up Jess.

Cheers

Jamie

 

4. 19 was the lowest I could get. I tried to get the wealth package fee of 395 waived but they said I was already on a great deal. Do you know of any existing borrowers getting this fee waived? I know that new borrowers can get it waived in first year.

 

If you are eligible for cba private bank or I assume cba private office you get the wealth package fee waived

But unfortunately not if you are at premium banking level

 

Commonwealth Private Office was created in 2010 to cater for clients that require a deeper level of investment advice and engagement with investable assets of $10 million or more.


If I have $10mil to invest, I wont be bothered with $395... a small change

 

So for CBA customers who can't get a 1.5% discount because we're retention. Where do go to get good rates?

 

I would say ring the retention team with some competitor quotes and try to get the 1.5% discount. But in saying that i don't think any of the big banks are offering such a discount so CBA may not budge on your current discounts.

My brokers managed to get me a verbal 1.5% discount, but mentioned that this discount may not be applicable on the Line of Credits....where a lessor discount will be applicable .

 

CBA are also pricing fixed rates - I just got 0.4% off their 2 yr fixed on an IP under 80%, which brings it to 4.19% for IP and 3.99% for OO. No new money, either, so if you can't get the 1.5% off the SVR and have no plans to do much for a couple of years, that is a very good deal.

 

I got 4.19% as I mentioned in a previous post. In retrospect, I probably should have gone harder and gone for 4.05 - 4.1% because I sense that CBA are open for deals at the moment.

Does anyone know why CBA will negotiate IP loans at the moment while most of the others (eg NAB and AMP) are very dismissive on any attempts to negotiate.

 

CBA have the space in their investor margins to take on more business without upsetting APRA - so they're doing the prudent thing and trying to pull in as much new business as they can within the narrow parameters available.

 

ANZ have just lifted the rate on their Equity LOC by 27 bpts...effective Feb 12