Interest Rates

[Toasty]

Unfortunately I have this annoying compulsion to be honest... I may well investigate what other banks will do to for me though.

I always use a broker and I usually send them a link to this thread at the same time.

[Maccachic]

Unfortunately I have this annoying compulsion to be honest... I may well investigate what other banks will do to for me though.

Its not really dishonest as you prob could find that if you had to go looking. Other option is my mate got xyz I'm thinking about following suit what can you do? Got me 4.99 for 5 years its a neg game you just have to play well to win.

I found this pretty spot on for Westpac a few years back even tho its an Aussie site. https://www.homeloanexperts.com.au/f...reak_cost_calc

[JBM]

Unfortunately I have this annoying compulsion to be honest... I may well investigate what other banks will do to for me though.

Yes easy fix first go to the others banks and I'm sure they will want your business and in turn offer you a good deal to shift ...now take this offer
back to your bank .... go from their ... nothing dishonest about getting the best deal ..

Just in the last week because of OCR change I just got another .1% off my loans That I'd agreed to shift to a new Bank(at .25% lower than present bank) ... saving me over $600 p.a

[SleepyTiger]

haha banks are smarter now, when the bank manager offer me the rate and cash contribution he refused to write it down anywhere - even in an email , he just always called me.

Without a written form the other banks definitely weren't as aggressive as they should have been. I found that interesting.

[Perry]

Get a dictaphone! Or ask for the
offer to be confirmed by e-mail.

[JBM]

haha banks are smarter now, when the bank manager offer me the rate and cash contribution he refused to write it down anywhere - even in an email , he just always called me.

Without a written form the other banks definitely weren't as aggressive as they should have been. I found that interesting.

Thats understandable.... the bank I had the loans with weren't helpful at all on giving me a good rate even after I'd told them the 5.3% wasn't going be good enough ! My mate had just got 5.08% ,,,, but when I started to inquire about costs to end one of the loans a month early I got some action ...then it was phone calls e-mails on how good a rate they would give me and how moving wouldn't be that good an idea etc...

-I treat banks as they treat me ...Just a Number

[MAXNZ]

All look like great rates. Well done! Which bank?

WP

5.99 revolving
4.99 fixed 6 months
4.89 fixed 1 year
5.00 fixed 2 years
5.10 fixed 3 years
6k cash contribution (1.5 leagl, 4.5 cash back for bringing over 2 properties)
request to stay with bank for 2 years and move main banking across

[MAXNZ]

Get a dictaphone! Or ask for the
offer to be confirmed by e-mail.

and no, been told impossible to supply quoting by email, only verbally via phone or personal meeting.

[sidinz]

Without a written form the other banks definitely weren't as aggressive as they should have been. I found that interesting.

Yeah, when I was talking to ASB a couple of weeks ago, I mentioned that I knew some of the great deals that other investors were getting and threw one or two around. But she was only interested in hearing what I had actually been offered by any other bank.

Drat and double drat, because I'm not really in a position to go to another bank at the moment.

On another note, the canny ASBers appear to have put their rates up between when I spoke to them a bit before the OCR announcement and right before it, because now that they've dropped them in response, I'm being offered almost the same as what I was then.

I turned down 5.15 for 2 years, preferring to wait until after the announcement. Now they're offering 5.10 which is the advertised special. I feel unloved.

[Maccachic]

I've done most of my negotiation's via internet banking email Much easier to be ballsy when not in person

[PTILoveYou]

I've done most of my negotiation's via internet banking email Much easier to be ballsy when not in person

Agree. I have successfully negotiated breaking fixed terms at no cost, and refixed to lower rate with two banks via internet banking message

[donthatetheplayer]

Agree. I have successfully negotiated breaking fixed terms at no cost, and refixed to lower rate with two banks via internet banking message

What sort of terms and break fees did you negotiate out of Gary?

[Meehole]

What about lending to purchase a commercial property to run business from? $400k any recommendations? House mortgages with ASB and business banking Kiwibank.

[PTILoveYou]

What sort of terms and break fees did you negotiate out of Gary?

I posted in the thread before.

basically 5.85% fixed for two years since Oct last year.

sent message via online banking that i want to break but no break fee, as anz offered 4k cashback and 5.05% for six month.

bnz complied to my request, so did kiwibank.

this was a month or two ago.

[Maccachic]

What about lending to purchase a commercial property to run business from? $400k any recommendations? House mortgages with ASB and business banking Kiwibank.

I know in Tauranga BNZ is the easiest for the Agents to work with or that's where they are sending their clients.