TSB Bank

[rvrprop]

Hi,

Whats your experience with TSB bank, are they competitive on rates, everyday banking?

Any idea on their 2-3 year rates.

Thank you for your feed backs

[Anthonyacat]

Love TSB - excellent customer service.

But their rates weren't particularly competitive last I checked. Not even close. Would be a good option when you've exhausted the big 4 banks.

[rvrprop]

Love TSB - excellent customer service.

But their rates weren't particularly competitive last I checked. Not even close. Would be a good option when you've exhausted the big 4 banks.

Thank you. I am currently with ANZ but broker suggested TSB does not cross collateralize. Each rental can stand on it's own.

I have 2 rental and owner occupied with ANZ. Broker suggests moving everything to TSB. Apparently TSB is the only bank that does this.

[Anthonyacat]

That's fascinating. Not something I've heard before.

But I do know it's possible to not cross-collateralise with the other banks. I did it with ANZ at one point when I had a few properties there. Simply told them that the new loan is covered by one property's equity, why should the others be affected. Their default behaviour is certainly to maximise collateral of course.

[MikeC]

In my experience, it’s easier to get finance approved at TSB, but the interest rates are worse than the big banks.
The best way to avoid cross collateralisation is to only have one property with each bank. there are other important reasons for this. My retirement plan/exit strategy would not work with all properties at one bank.

[fuzzlevalve]

All banks will theoretically not cross-collateralise, but maybe they are refusing to do so currently. You always have to push back as they all try.

[ripeka]

We moved to TSB a year ago and their rates were the most competitive out of all the main banks. Went through a broker though. They were great to deal with too - much more personalised service with them. The only thing was we had to travel across town to their one branch (Chch) to sign documentation and open up the bank accounts etc. But haven't had to go physically back to the branch since. I use their App on my phone no problems and online banking of course. Can't hurt to ask for a quote for your situation (perhaps through a broker?)

[rvrprop]

We moved to TSB a year ago and their rates were the most competitive out of all the main banks. Went through a broker though. They were great to deal with too - much more personalised service with them. The only thing was we had to travel across town to their one branch (Chch) to sign documentation and open up the bank accounts etc. But haven't had to go physically back to the branch since. I use their App on my phone no problems and online banking of course. Can't hurt to ask for a quote for your situation (perhaps through a broker?)

Thank you for your feedback. Very much appreciate it.