gilese
Hoffies
ingwen
10 basis point out of 25??? May as well not cut any.
I'd take 40% of the cut over 0% of the cut any day. 4.94% is a beautiful number.
What bank are you wiyh Hoffies.?
CBA
Browse Forums Home Finance Re: Interest Rates CUT 1% Again?- 0.75% Cut in Rates 141Apr 07, 2009 6:47 pm gilese Hoffies ingwen 10 basis point out of 25??? May as well not cut any. I'd take 40% of the cut over 0% of the cut any day. 4.94% is a beautiful number. What bank are you wiyh Hoffies.? CBA Re: Interest Rates CUT 1% Again?- 0.75% Cut in Rates 143Apr 07, 2009 7:45 pm So if ours was 5.06% originally, we're now at 4.96%?? Yah! Something is better than nothing Custom European Cabinets - Melbourne Kitchen Specialist PM for business details as website currently being updated! Our Crazy Owner Builder Journey! Re: Interest Rates CUT 1% Again?- 0.75% Cut in Rates 144Apr 07, 2009 9:23 pm gilese Hof how you get interest rates that low with CBA? I was just looking did not appear that low? SVR is currently 5.74%, minus the .7% discount gives current rate of 5.04%. Less the latest .1%. Re: Interest Rates CUT 1% Again?- 0.75% Cut in Rates 145Apr 07, 2009 10:35 pm thlo I think it will be a small cut. But I have guessed wrong before. Well I guessed right this time. Re: Interest Rates CUT 1% Again?- 0.75% Cut in Rates 146Apr 08, 2009 12:23 am Hoffies gilese Hof how you get interest rates that low with CBA? I was just looking did not appear that low? SVR is currently 5.74%, minus the .7% discount gives current rate of 5.04%. Less the latest .1%. To get the 0.7% discount from CBA on a new loan, you need to borrow $750,000. On a loan of upto $350,000 the discount is 0.5%. Re: Interest Rates CUT 1% Again?- 0.75% Cut in Rates 148Apr 08, 2009 1:29 pm ANZ reducing by 10 basis points also. Wisdom Homes Manhattan 39 Blog - https://edmondson-park.blogspot.com.au H1 Thread - https://forum.homeone.com.au/viewtopic.php?f=31&t=88210 Re: Interest Rates CUT 1% Again?- 0.75% Cut in Rates 149Apr 08, 2009 1:37 pm NAB has said no and Westpac still undecided Heres a link http://www.news.com.au/heraldsun/story/ ... 61,00.html Re: Interest Rates CUT 1% Again?- 0.75% Cut in Rates 150Apr 08, 2009 2:25 pm thlo Hoffies gilese Hof how you get interest rates that low with CBA? I was just looking did not appear that low? SVR is currently 5.74%, minus the .7% discount gives current rate of 5.04%. Less the latest .1%. To get the 0.7% discount from CBA on a new loan, you need to borrow $750,000. On a loan of upto $350,000 the discount is 0.5%. We are in the same boat but with ANZ Breakfree. We borrowed less than $750k to build this new house (whilst living in our existing home with a view to selling or renting it out). Anyway, by default our discount is 0.6% but our branch got us 0.7% this means that our rate will go to 5.11% now. It's worth asking the branch to see if they can get a better discount. Blog: http://bluemistkids.blogspot.com "Never be afraid to try something new. Remember, amateurs built the ark, and professionals built the Titanic." Re: Interest Rates CUT 1% Again?- 0.75% Cut in Rates 151Apr 08, 2009 3:19 pm Westpac will also do 10 basis points Wisdom Homes Manhattan 39 Blog - https://edmondson-park.blogspot.com.au H1 Thread - https://forum.homeone.com.au/viewtopic.php?f=31&t=88210 Re: Interest Rates CUT 1% Again?- 0.75% Cut in Rates 152Apr 08, 2009 4:02 pm Hels We are in the same boat but with ANZ Breakfree. We borrowed less than $750k to build this new house (whilst living in our existing home with a view to selling or renting it out). Anyway, by default our discount is 0.6% but our branch got us 0.7% this means that our rate will go to 5.11% now. It's worth asking the branch to see if they can get a better discount. I have been going through that exercise with CBA for one of my customers for the last 3 weeks with no result but a waste of 5 long phone calls and faxes which no-one seems to read and comprehend. My customer asked to change their approved land and construction loan to the MAV package with 0.7% discount, the application form of which I faxed to the bank along with other instructions. By the time they acted on it, the discount offer was cut by 0.2%. The credit assessor then ignored 2 out of 3 instructions (including the 0.7% concession) on the fax and when I called she told me the file had moved on and they are unable to find it and she asked "Can you re-request your request as it will be quicker?" also asked "what? the MAV discount has been reduced? When?". So I had to provide the bank staff complimentary training as well. That was 2 weeks ago and nothing has since been done. When I call, she has gone home, leave a message for the team to call, no-one calls, call again in another few days to go to square 1. I just spent another 55 minutes on the phone repeating the effort. Re: Interest Rates CUT 1% Again?- 0.75% Cut in Rates 153Apr 08, 2009 9:49 pm thlo gilese We are in the same boat but with ANZ Breakfree. We borrowed less than $750k to build this new house (whilst living in our existing home with a view to selling or renting it out). Anyway, by default our discount is 0.6% but our branch got us 0.7% this means that our rate will go to 5.11% now. It's worth asking the branch to see if they can get a better discount. I have been going through that exercise with CBA for one of my customers for the last 3 weeks with no result but a waste of 5 long phone calls and faxes which no-one seems to read and comprehend. My customer asked to change their approved land and construction loan to the MAV package with 0.7% discount, the application form of which I faxed to the bank along with other instructions. By the time they acted on it, the discount offer was cut by 0.2%. The credit assessor then ignored 2 out of 3 instructions (including the 0.7% concession) on the fax and when I called she told me the file had moved on and they are unable to find it and she asked "Can you re-request your request as it will be quicker?" also asked "what? the MAV discount has been reduced? When?". So I had to provide the bank staff complimentary training as well. That was 2 weeks ago and nothing has since been done. When I call, she has gone home, leave a message for the team to call, no-one calls, call again in another few days to go to square 1. I just spent another 55 minutes on the phone repeating the effort. That's shocking thlo, I hope it gets sorted out soon. Good of you to go to these lengths for your customer though Blog: http://bluemistkids.blogspot.com "Never be afraid to try something new. Remember, amateurs built the ark, and professionals built the Titanic." Re: Interest Rates CUT 1% Again?- 0.75% Cut in Rates 154Apr 08, 2009 11:36 pm Hels That's shocking thlo, I hope it gets sorted out soon. Good of you to go to these lengths for your customer though Just trying to live up to our Service Commitment, Hels. "Provide the Service You would like to Receive" is my motto. Thank you for the moral support. Re: Interest Rates CUT 1% Again?- 0.75% Cut in Rates 155Apr 09, 2009 1:47 pm thlo Hels We are in the same boat but with ANZ Breakfree. We borrowed less than $750k to build this new house (whilst living in our existing home with a view to selling or renting it out). Anyway, by default our discount is 0.6% but our branch got us 0.7% this means that our rate will go to 5.11% now. It's worth asking the branch to see if they can get a better discount. I have been going through that exercise with CBA for one of my customers for the last 3 weeks with no result but a waste of 5 long phone calls and faxes which no-one seems to read and comprehend. My customer asked to change their approved land and construction loan to the MAV package with 0.7% discount, the application form of which I faxed to the bank along with other instructions. By the time they acted on it, the discount offer was cut by 0.2%. The credit assessor then ignored 2 out of 3 instructions (including the 0.7% concession) on the fax and when I called she told me the file had moved on and they are unable to find it and she asked "Can you re-request your request as it will be quicker?" also asked "what? the MAV discount has been reduced? When?". So I had to provide the bank staff complimentary training as well. That was 2 weeks ago and nothing has since been done. When I call, she has gone home, leave a message for the team to call, no-one calls, call again in another few days to go to square 1. I just spent another 55 minutes on the phone repeating the effort. It's much easier to get the home loan discounts through the CBA bank branch, is that right? Re: Interest Rates CUT 1% Again?- 0.75% Cut in Rates 156Apr 14, 2009 1:50 pm The answer to this question is another question "how desperate are the branch staff this month to meet their sales target?". I have (and other brokers I know have) had the experience of competing with CBA branch lending staff who have doubled the discount on a fixed rate for example just to make a sale, therefore undercutting their employer's Third Party Lending channel. But of course they are not going to do a comparison of other lenders for you. Banks: Would you like fries with that? 157Apr 15, 2009 1:57 am I don't usually like current affairs shows like TT but this is interesting from their web site. Janelle worked for the NAB for 13 years. It was her job to make sure staff met their targets, and if she met hers, she could increase her wage by $5,000 a year. Some bonuses were so high staff could increase their wages by up to 50 per cent a year. "If you sell a home loan to a customer the first question the manager will ask you is... Did you get the credit card with that? Did you get the home insurance and contents insurance with that?" "I have no doubt there are people out there who've been sold things that in the immediate term they can afford, but in the long term they can't." Janelle says many workers, including her, struggled to deal with the stress and the guilt of selling products some people couldn't afford. In some cases workers turned to anti-depressants, alcohol and suffered from anxiety. With the economic downturn managers began to panic over profits and sales targets became even more difficult to achieve. The Finance Sector Union receives more than 150 complaints a month from bank workers. So just how much are the banks actually making in profit? The Commonwealth Bank raked in $4.7 billion in profit last year, the NAB $4.5 billion, Westpac $3.8 billion and the ANZ $3.2 billion. "Every single day that they work they're being told sell, sell, sell." "The pressure comes right from the top. So your CEO their pay is more and more based on performance related issues and that flows all the way down the fountain. So you've got each subsequent manager saying well I'm not gonna get my bonus unless people are selling." "It's a very stressful environment for bank workers at the moment. Whereas once upon a time they would listen to what the customer wanted and do their best to meet those needs, now it's almost like wait until the customers finished and say do you want fries with it?" Re: Banks: Would you like fries with that? 158Apr 15, 2009 10:36 am jhome I don't usually like current affairs shows like TT but this is interesting from their web site. Janelle worked for the NAB for 13 years. It was her job to make sure staff met their targets, and if she met hers, she could increase her wage by $5,000 a year. Some bonuses were so high staff could increase their wages by up to 50 per cent a year. "If you sell a home loan to a customer the first question the manager will ask you is... Did you get the credit card with that? Did you get the home insurance and contents insurance with that?" "I have no doubt there are people out there who've been sold things that in the immediate term they can afford, but in the long term they can't." Janelle says many workers, including her, struggled to deal with the stress and the guilt of selling products some people couldn't afford. In some cases workers turned to anti-depressants, alcohol and suffered from anxiety. With the economic downturn managers began to panic over profits and sales targets became even more difficult to achieve. The Finance Sector Union receives more than 150 complaints a month from bank workers. So just how much are the banks actually making in profit? The Commonwealth Bank raked in $4.7 billion in profit last year, the NAB $4.5 billion, Westpac $3.8 billion and the ANZ $3.2 billion. "Every single day that they work they're being told sell, sell, sell." "The pressure comes right from the top. So your CEO their pay is more and more based on performance related issues and that flows all the way down the fountain. So you've got each subsequent manager saying well I'm not gonna get my bonus unless people are selling." "It's a very stressful environment for bank workers at the moment. Whereas once upon a time they would listen to what the customer wanted and do their best to meet those needs, now it's almost like wait until the customers finished and say do you want fries with it?" This is so true! I recently went into my local branch to open an online saver account for my baby. The Customer Service person tried to get me to make an appt with a Financial Advisor and change my Home and Contents Insurance! And she even wanted to look at changing my husband's business account to one that would cost us a lot more in fees. I said "no thanks" to the lot Blog: http://bluemistkids.blogspot.com "Never be afraid to try something new. Remember, amateurs built the ark, and professionals built the Titanic." Bank staff 159Apr 15, 2009 12:03 pm It sounds like the bank front line staff are so desparate to keep their jobs they would be forced to sell anything to you. You need to deposit a cheque? The teller says But wait there is more! The Power Duster and Steak Knives are yours when you get a credit card and a home loan at the same time. Re: Bank staff 160Apr 15, 2009 2:11 pm jhome It sounds like the bank front line staff are so desparate to keep their jobs they would be forced to sell anything to you. You need to deposit a cheque? The teller says But wait there is more! The Power Duster and Steak Knives are yours when you get a credit card and a home loan at the same time. Blog: http://bluemistkids.blogspot.com "Never be afraid to try something new. Remember, amateurs built the ark, and professionals built the Titanic." PM me your email. I have a build excavation calculator you can use based on your plans to double check what your builder is telling you. Cheers Simeon 1 10205 Fine with me... just let 'em step in with some affordable (but good) gear... 12 5478 |