I have a mortgage coming off its fixed rate in 2 months time and today I got a call from the bank wanting to know if I want to refix. They never called me to refix early 3 years ago when rates were on their way up. Now when every economist predicts a drop in rates in the near future they want me to fix early. Coincidence?
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Ask them what their best rate is and tell them you know of someone getting 4.75 over 5 years so you've been looking. Bet they match or come close to it and do a cashback too.Free online Property Investment Course from iFindProperty, a residential investment property agency.
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I despise Westpac.
I hate myself more for refincing 3 investments with them early last year. I should have learned my lesson the first time I dealt with them about 4 years ago.www.PropertyMinder.co.nz
# Property Management
# Ad Hoc Tenancy Services / Rental Inspections / Terminations and Notices
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This is why you use a mortgage adviser!!
I call all my customers a month out to organise it for them, and if they aren't happy with their current bank then we show them what the other banks will offer.
But to be fair to you guys I have been hearing a lot of noise coming out of Westpac clients, its just a shame because the have some great home loan and Airpoints products.
Michael Karabassis
Mortgage & Risk AdviserMichael Karabassis RFA
Mortgage & Risk Adviser
Bass Partners Ltd
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Actually, it was my broker who recommended Westpac when I refinanced early last year. I should never have listened to them.
Would brokers help with loan refixing or just new loans?
From my understanding, brokers only help with new loans not refixes. It's the dealing with Westpac as an existing customer that is the most frustrating .www.PropertyMinder.co.nz
# Property Management
# Ad Hoc Tenancy Services / Rental Inspections / Terminations and Notices
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Thank you Michael. I will definitely consider it.
After you sure you will be paid for refixing a loan I obtained through a different broker? I wouldn't feel right asking you if you are not paid anything from the bank.www.PropertyMinder.co.nz
# Property Management
# Ad Hoc Tenancy Services / Rental Inspections / Terminations and Notices
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Originally posted by BigDreamer View PostWould brokers help with loan refixing or just new loans?
From my understanding, brokers only help with new loans not refixes. It's the dealing with Westpac as an existing customer that is the most frustrating .
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Yep, most important thing to note is don't worry about me, I am happy to help regardless of me getting paid.
I would hate to see any client or contact of mine be shafted by a bank or broker!
Michael Karabassis
Mortgage AdviserMichael Karabassis RFA
Mortgage & Risk Adviser
Bass Partners Ltd
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Originally posted by MichaelKarabassis View PostThis is why you use a mortgage adviser!!
I call all my customers a month out to organise it for them, and if they aren't happy with their current bank then we show them what the other banks will offer.
But to be fair to you guys I have been hearing a lot of noise coming out of Westpac clients, its just a shame because the have some great home loan and Airpoints products.
Michael Karabassis
Mortgage & Risk Adviser
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Originally posted by ivanp View PostI have just refixed a loan with Westpac via my broker: they managed to get better rates (4.29% for 1 and 2 years), than bank manager was willing to give me.
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Originally posted by Judge View PostAnd they pay very high commissions to brokers...Michael Karabassis RFA
Mortgage & Risk Adviser
Bass Partners Ltd
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