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Yes ANZ offering me great Cashback and rate to shift but I know like last time when it comes to re-fix date they then don't match the other banks rates offered to think from memory I only got offered advertised rates ...so bye bye ANZ off to WP who seem to give great rates on re-fixing
Banks are renowned for offering new customers good rates, and existing customers shit rates...
Banks are hunters these days, gone are the farming days, and customer loyalty...
Banks are hunters these days, gone are the farming days, and customer loyalty...
A lot of customers aren't loyal these days because they are busy chasing the last 0.1% interest rate or $100 cash back rather than looking for a relationship.
Maybe it is the right way now but I can't help think that it might bit them later. Just a feeling.
A lot of customers aren't loyal these days because they are busy chasing the last 0.1% interest rate or $100 cash back rather than looking for a relationship.
Maybe it is the right way now but I can't help think that it might bit them later. Just a feeling.
If all the banks give their best interest rates, without having the customers having to bargain with them, then the customers don't have to run around to get a fair deal.
Banks are ripping off Kiwis, especially the ones who aren't good or used to bargain to the bottom dollar...and I'm one of them.
A lot of customers aren't loyal these days because they are busy chasing the last 0.1% interest rate or $100 cash back rather than looking for a relationship.
Maybe it is the right way now but I can't help think that it might bit them later. Just a feeling.
finding it hard
to have a relationship with a bank logo
the staff change too often
Banks are renowned for offering new customers good rates, and existing customers shit rates...
Banks are hunters these days, gone are the farming days, and customer loyalty...
Well except for Westpac which is the only Bank that I know that has given cash and sharp rate to keep customers...
I'm currently working on re-fixing three loans with WP and buying another commercial property ... pushing for cash + sharp rate deals be interesting what response i get .. will be going in with good increasing cashflows over the last fy
A few years back ANZ paid half the cost of the break fee to keep my business at ANZ.
We wanted to break a fixed loan with 2 years to run so we could refinance for a further 5 years. Their option, pay the break fee which another bank would have done or lose the business. The coughed up half the break fee which was nearly a 5 figure sum. Considering the legal fees associated with changing banks this was a good result.
Wish I had a private banker as dealing with Westpac business banker is doing my head in ...
just one of many conditions I need to meet >>
1. RVs will be required on both properties due to the age of new property (built 1935), reliance on existing rental property income and possible seismic issues on both, this can be conditional to approval.(>>from WP)
The property is built in the 1960's (same as the other that come with all the engineer reports NBS-76%) .. the first one comes with 10yr fixed term with 9 half years to run 25yrs overal lease 10.5% net yeild Nation tenant... westpac should know this as they loaned the funds
The one I'm trying to purchase has two small service/retail shops around 14% net yield 3yr x 3yr lease (once I claim back GST) single story small concrete block walls new coloursteel roof, new timber floor ,alloy frame main windows, surely I don't need to pay thousands for engineer report .
Another condition
2. We are reliant on your first commercial property lease income, therefore, we need to take the property as security.
what ?? 14% net yield and its reliant on another income source ...
We do have another company with a small loan that's fully covered in capital (nearly x2) and fixed incomes enough to easy paid interest only per month
Can't believe the crap I'm dealing with unless ANZ comes to the party looks like I'm going to have to extend the conditional finance period
as 2 weeks just aren't going to cut it..
Even with the new loan amount our total debt is only like 82% of our debt free personal property value ?? take gross last 52 week
incomes is over 40% of total debt..
it really seem commercial is a dirty word to banks at the moment
Of course if low inflation is the new norm then there is no reason low interest rates won't be also.
If you look back over a long enough time span you will see that high inflation and high interest rates are the abnormal blib.
Where does renowned financial and geopolitical analyst Martin Armstrong see big trouble brewing? Look no further than the bond market. Armstrong explains, “The bond market is going down. . . . We’ve already started into it. . . .You have to understand both Japan and Europe have destroyed their bond markets. They have completely and utterly destroyed them. They are the buyers. That’s it. There is no pension fund that can buy 10-year paper at 1.3% when they need 8% to break even. They are locking in a 10 year loss. They can’t do it. We have been helping major funds shift into equities because it is the only place they can go. . . . Once you start seeing the cracks in Europe, you are going to see interest rates rise faster than you have ever contemplated in your life. There is nobody in their right mind that can buy an Italian bond at 1.3%. It’s just not going to happen. Once the ECB is forced to stop, those rates are going to jump to 10%
US Fed rate up 25pts to 2% plan to get to 3.25% to 3.5% within the next couple of years... yet the Superpower NZ will keep rates on hold till 2019 ... NZD/USD must surely trend downwards from here.. 50c coming ?? will see $3lt gas in no time
Well except for Westpac which is the only Bank that I know that has given cash and sharp rate to keep customers...
I'm currently working on re-fixing three loans with WP and buying another commercial property ... pushing for cash + sharp rate deals be interesting what response i get .. will be going in with good increasing cashflows over the last fy
Strange , Westpac are consistently one of the highest lending rates in comparison to other banks. What sort of deal are you getting?
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