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  1. #1
    Join Date
    Nov 2011

    Default Interest rate cut is here!! What to do next?

    So the RBA recently put forward an interest rate cut, which is fantastic news.

    Unfortunately, I'm well aware that many people, especially newbies, are unsure what it all means for them and how they can take advantage of it.

    I was reading this article here: http://www.bigpondmoney.com.au/take-...erest-rate-cut
    and I was inspired to share some tips for you.

    With the recent interest rate cut, consider doing this:

    1) Scout around for rate discounts and switching incentives, even get in touch with your current bank and see if you can’t get them to knock off a point or two off your current loan.

    2) Seriously look at getting a fixed rate for part or all of your home loan.

  2. #2


    Hi Mattinvestor,
    I used to work for a bank for around 8 years, I have my own Perth Based Mortgage Broking business. The industry has become so competitive and now the big rate discounts offered by larger banks seem to have faded out in the past month or so, I'm seeing a lot of smaller institutions offering amazing fixed rates and brilliant service offers for their members.
    With Bank staff turning over so often its hard to negotiate with a person who has an interest in retaining the customer long term. The value now for customers is finding a broker who is going to be in the market long term and building a relationship to guide them through the process.
    I'd really like to get a feel for which banks people are considering and also what kind of annual savings it would take someone to switch in the current market?

    Hayden Dempsey
    Premium Portfolio Finance
    Home Loans

  3. #3
    Join Date
    Nov 2011


    i recently got offered a loan from a broker for Comm Bank - it seemed quite good, and I was considering it, although the deal did not eventually pull through

  4. #4


    You may want to go back to re-consider with Commbank currently running a campaign on $700 cashback through a broker.
    Its on new applications submitted from now onwards and before mid June, and funding before Mid September.


    0404 000 212

  5. #5
    Join Date
    Apr 2009

    Default Inevitable domino effect Greece sparks off in June

    We all know it will happen, so does the Commbank, hence their campaign trying to capture a share of migrant borrowers - now - to lock them in today - at today's rates - before the proverbial tihs hits the fan and rates fall further 0.5 to 1 pc which is very much on the cards

    Which is also why Kiwibank came in recently with lowest rates (full page ads) - and though tempted wouldnt deal with them having already experienced identical behaviour as described by mrsaneperson in thread "Changing Banks" - Toasty's post too had merit to it (same thread), ditto Perry's

    Have patience, wait just two more months and watch what happens with resultant fall out

    Disclaimer - I am no expert and may not be held responsible or liable for any of above content or information

    What I don't understand is this - Why is it, when one closes a deal with a bank, one gets a two month holiday before commencing payments? What is the rationale? Do all banks do it or is it case of having been lucky everytime closed deal with bnz?

  6. #6
    Join Date
    Nov 2011


    Thanks for all the feedback guys..... i'm still scouting out for a better deal on an investment propety first (which is a priority for me) before i worry over the interest rate and broker and laon package

  7. #7


    always separate your business interests and get a business account through your bank.

  8. #8


    I think most people would know to do that.

  9. #9


    Yeah Wilson totally agree with your post.


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