Have you checked your homeloan interest rate recently - Bankwest

altomic on 28/08/2015 - 13:27

went in to my local Bankwest to deposit a check and the guy there asked if I wanted to see someone about my Bankwest home loan.

they always ask and I always say "not today" as I'm usually with the kids, busy, blah blah. occasionally they send me letters stating they have reduced my rate so that has been cool by me.

anyway, I had some time to kill so I said Ok.

sat down in a booth and the guy put me on the phone to the home loan call centre. 3 minutes later I walked out with an interest rate cut of half a %.

down to 4.24%.

whilst not the absolute lowest rate around it is still a cut which was welcome and generated a considerable saving across the life of the loan.

good on Bankwest. I'll stop referring to them as WankBest following this stuff up 3 years ago

just posting as a healthy reminder to maybe say yes to that enquiry about your homeloan

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Comments

  • cupcake on 28/08/2015 - 14:07

    That's great news!

  • Looking4Bargians on 28/08/2015 - 14:41

    How u did it in 3 min ?

    i just only managed 0.25 with NAB and it is 4.39% . I guess depends on the amount of the loan.

    Mine is just under $350k

    • altomic on 28/08/2015 - 14:50
      +1

      well, poetic license, maybe 5 minutes.

      the first guy tapped all my details in the system so then the home loan telephone guy had that already in front of him and he could just do his thing.

      4.39% : you could check with bankwest to see if they could beat this and then fo back to NAB asking if they would beat it.

      • Looking4Bargians on 28/08/2015 - 14:54

        And i pay $330 yearly fees on top of the loan amount.
        thinking of moving away from them and going for any other institute but then i think all of these financial institutions are exactly the same.

        • altomic on 28/08/2015 - 14:55

          I pay nothing in fees. maybe time to move across.

        • Associatedtomleonhart @ Bankwest on 28/08/2015 - 15:20
          +1

          Suncorp is doing 4.24% with no annual fee. Full professional package.

        • Geewhizz on 29/08/2015 - 06:27

          @tomleonhart:

          Do you by any chance have a link to that info please?

        • Associatedtomleonhart @ Bankwest on 29/08/2015 - 07:14

          @Geewhizz: it's on Suncorp home loan website :-) and I'm a broker lol

        • Geewhizz on 29/08/2015 - 16:07

          @tomleonhart:

          Thanks. I had checked the Suncorp site before posting my question, and not found it. Perhaps I was seeing cached pages.

        • Associatedtomleonhart @ Bankwest on 29/08/2015 - 20:28

          @Geewhizz: here you go http://www.suncorpbank.com.au/home-loans/interest-rates?v=40…

        • Geewhizz on 30/08/2015 - 05:42
          +1

          Thanks for that. That doesn't state that they're waiving the annual fee though. "Someone on Ozbargain said" doesn't give me much to take to my bank. lol

        • Associatedtomleonhart @ Bankwest on 30/08/2015 - 16:35

          @Geewhizz: Home Package Plus Annual Package Fee Waiver*
          *Offer valid from 01/07/2015 to 31/12/2015. Annual package fee waiver applies to new loans of at least $150,000 within the Home Package Plus. Savings based on $375 p.a. over 30 year loan term. The annual package fee of $375 will be charged and refunded to the loan for as long as the loan remains part of the Home Package Plus and will only expire if the loan is closed or varied out of the product or package (where applicable). Offer is subject to change without notice and may be withdrawn at any time before a credit contract is entered into. Pre-approvals excluded.

        • Geewhizz on 31/08/2015 - 07:06

          @tomleonhart:

          Awesome! Thank you. :)

      • fillit on 28/08/2015 - 14:54

        Not a bad rate, it's 0.1% cheaper than the advertised discount rate.

        http://www.bankwest.com.au/personal/home-loans/home-loans-ov…

        Their 4.09% refinance atm is one of the most competitive on the market.

        However there are a few lenders which are doing cash back on refinance, I would dare say I can get a better rate than 4.39% with cash back.

        • Looking4Bargians on 28/08/2015 - 14:56

          Does this give you offset account as well ? what is cash back and how it works ?

        • fillit on 28/08/2015 - 15:11

          @ozyboy: Just sent you a pm, yes you can have an offset account.

  • sagrules on 28/08/2015 - 16:22

    Does this include offset account?

    • altomic on 28/08/2015 - 16:57

      Yes

  • CapeFin on 20/10/2015 - 11:10
    +1

    Hi All, Perth based mortgage broker here and ex Bankwest staff member of 8 years.

    If anyone would like to have their home loan rate reviewed at your current bank, or you would like to know how your current rate stacks up against the market, send me a PM and I will be happy to assist.

    We don't charge for our service and are dedicated to finding our clients a great deal :)

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