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Westpac Special Promo Rebates and Offers

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Westpac Special Promo Rebates and Offers
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AssociatedLen -Bundle Loans @ Bundle Property Home Loans on 04/03/2020 - 11:14 westpac.com.au (582 clicks)
Last edited 05/02/2022 - 21:43 by 3 other users

Westpac Offers - Below the Line (not advertised. Link to website says $2k, but there is a "Special Refi Rebate" and extended to 31/3/2020)
Updated 2/3/20 - Westpac passed on full 0.25% RBA cut.

Given below the line, not allowed to advertise in writing. Please message me for details.

Len
Bundle Property Home Loans
T: (02) 9698 7186
M: 0422354868
E: [email protected]
ACL 445947

Disclaimer:
The information provided is for general education purposes only and is not intended to constitute specialist or personal advice. This has been provided without taking into account your objectives, financial situation or needs. Because of this, you should consider the appropriateness of the advice to your own situation and needs before taking any action. It should not be relied upon for the purposes of entering into any legal or financial commitments. Specific investment advice should be obtained from a suitably qualified professional before adopting any investment strategy.

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closed Comments

  • Yanoflies on 04/03/2020 - 11:27
    +2

    Given lower chance of a rate cut forecast, a low fixed rate can still save you more money as you can get an immediate benefit from today as opposed to waiting for the drop to occur. Given many banks are only passing on 0.1-0.15% each cut, and the RBA cash rate is 0.75%, there can only be a maximum of 3 cuts to zero, which may take a long time or unlikely to occur.

    Need to change that.

    • AssociatedLen -Bundle Loans @ Bundle Property Home Loans on 04/03/2020 - 11:39

      No worries, done. Still unlikely to hit 0% any time soon IMO

  • Ultramup on 04/03/2020 - 11:29
    +2

    Any deals for 0.8 LVR?

    • AssociatedLen -Bundle Loans @ Bundle Property Home Loans on 04/03/2020 - 11:39
      +1

      Yes 80%LVR just add +0.1% to above rates.

      • W0rldtraveller on 04/03/2020 - 12:21
        +1

        how about investment for fixed rates?

  • Yaren24 on 04/03/2020 - 11:30

    So what does everyone invest during this economic downturn?

    • battler on 04/03/2020 - 11:34
      +15

      toilet paper

      • cyruslol on 04/03/2020 - 11:37

        Haha good one!

    • alvian on 04/03/2020 - 11:51
      +1

      Gold. Up 37% over 1 year, up 5.6% over 30 days. But you've already missed the boat.

      Now is the time to pick up some cheap stocks.

    • VerticallyIntegrated on 04/03/2020 - 12:06
      +1

      Pork bellies, soybeans, frozen orange juice.

  • joshmachine on 04/03/2020 - 11:44
    -3

    mate can you pls respond to emails?

    • mr_asstight on 04/03/2020 - 11:45

      yes

    • AssociatedLen -Bundle Loans @ Bundle Property Home Loans on 04/03/2020 - 11:54
      +2

      Hi Joshmachine your email was sent at 8:10pm last night, please give me a chance! Have replied you thanks. Apologies to everyone for delay in responses due to many enquiries from our various deals. We will get back to everyone ASAP and aiming at a 2-3 business day response. If it's urgent like a purchase or fixed expiring, please text or email "urgent" to me and I will respond ASAP. Much appreciate everyone's patience.

      • joshmachine on 04/03/2020 - 12:15
        -7

        I am not going to get into a back and forth here for everyone else's sanity. Have dropped you a dm. thanks

  • knobbs on 04/03/2020 - 11:47

    Anything with NAB and their $4k cashback?

    • AssociatedLen -Bundle Loans @ Bundle Property Home Loans on 04/03/2020 - 11:55

      NAB turnaround time is currently at 30 days so don't recommend.

      • vr4indian on 04/03/2020 - 12:20

        But do you offer any bundle rebate for NAB?

      • knobbs on 04/03/2020 - 12:28

        Turnaround time doesn't bother me too much. What can you do with NAB?

        • AssociatedLen -Bundle Loans @ Bundle Property Home Loans on 04/03/2020 - 16:47

          Sorry missed this. NAB is approx 3.09% to 3.25% depending on loan size pre cut

    • JVO on 04/03/2020 - 13:44

      Can someone confirm this deal is better than NAB if you have 2 houses?

      • knobbs on 04/03/2020 - 14:39

        Seems OP has gone quiet and doesn't want to talk about NAB loans. Still responding to others below.

        • RDY4WR on 05/03/2020 - 10:37

          I’m a broker who gets premium service at nab as I write large volumes. My turnaround is 10 business days, normal brokers are at 23 business days.

          4K rebate is a better deal if you have 1 property and want variable rates in a package nab are far better than ANZ in that field. No updates on fixed rates but we expect the big 4 to come to around what ANZ offered.

          Westpac is where I’ve refinanced clients with multiple properties to take advantage of their offer. Some received a 3k per property bonus that was a month back, this may still be available…… so if you have 2 or more and your lvr is below 70% head there.

          • countmein on 05/03/2020 - 11:52

            @RDY4WR: I like competition.
            Please define "better" on nab pckge..
            And how about fees in compare to anz (which has discharge fees only?)

          • knobbs on 05/03/2020 - 12:04
            +1

            @RDY4WR: Thanks for the info. I am after variable with 1 property and can have whatever LVR gets the best rate. Wanting to debt recycle to invest as much as possible though. I normally end up paying for the package for the discount but who knows.

            I have been with WBC for the last 3 years and have missed out on all the promos they have been offering new customers, so thought I should make myself a new customer.

  • bthaddad on 04/03/2020 - 11:49
    +1

    Great rates (compared with other fixed rates in the market), but personally I think fixing is a mugs game unless you are highly leveraged or only have a small serviceability buffer (i.e. small increases in rates would make your life hard).

    When fixed rates are lower than variable that is the market pricing in a high probability that rates will fall over the life of the hedge. Fixed rate products are more operationally complex for lenders and you pay for this in your rates and fees.

    Just my 2c.

    • AssociatedLen -Bundle Loans @ Bundle Property Home Loans on 04/03/2020 - 12:09

      Fixed rates are also lower because of a combination of reasons (including a rate drop forecast, but not only for that reason):

      the bank can lock in a customer for a longer period and get more certainty to make profit. The bank would rather offer a lower rate for 2 years than a variable where customer leaves in 6 months as there are many costs to acquire a customer eg rebates, commissions paid etc.

      Banks obtain funds from overseas and lock in the rate for certainty and purchase bulk fixed funds for a discount compared to variable. Hence funding costs are lower for the bank in fixed products.

      It's like buying toilet paper in bulk gives a discount.

      • bthaddad on 04/03/2020 - 13:00

        Hi Len, not sure if this is 100% accurate. Typically fixed rate funding cost for the banks will be similar to variable funding rates with an embedded swap cost. Obviously they diverge from time to time (generally by small amounts). In bank funding markets there isn't typically a "bulk" discount i.e lower rate for larger borrowings - a bank debt instrument prices on the day of issue based on supply and demand at a given price. In a well functioning market higher supply (i.e. banks demanding a larger amount of funding) will result in a higher price being paid as they will need to access a deeper pool of investors. Corollary of this: banks raising smaller funding lines only need to speak to the investors willing to give them the best price (i.e. lowest rate). Cheers!

        Edit: I do agree that banks will probably agree to a lower margin if they're locking in that margin for a longer period.

  • nafe on 04/03/2020 - 12:01
    +1

    CPR = comparison rate?

  • AssociatedLen -Bundle Loans @ Bundle Property Home Loans on 04/03/2020 - 12:09

    Fixed rates are also lower because of a combination of reasons (including a rate drop forecast, but not only for that reason):

    1. the bank can lock in a customer for a longer period and get more certainty to make profit. The bank would rather offer a lower rate for 2 years than a variable where customer leaves in 6 months as there are many costs to acquire a customer eg rebates, commissions paid etc.

    2. Banks obtain funds from overseas and lock in the rate for certainty and purchase bulk fixed funds for a discount compared to variable. Hence funding costs are lower for the bank in fixed products.

    It's like buying toilet paper in bulk gives a discount.

  • Ultramup on 04/03/2020 - 12:10
    +1

    Any variable offerings?

    • starbearer on 04/03/2020 - 12:58
      +1

      In the same boat. These fixed offers are good and all but what are the best deals that you have for variable and offset (owner)?

      • AssociatedLen -Bundle Loans @ Bundle Property Home Loans on 04/03/2020 - 13:59

        from 3.04% at 70%LVR (pre cut) for $750k+ loans.
        from 3.07% at 70%LVR (pre cut) for $500k+ loans.
        from 3.09% at 70%LVR (pre cut) for $250k+ loans.

  • RichDad PoorSon on 04/03/2020 - 13:16

    for existing customer too?

  • mintygirl on 04/03/2020 - 13:49

    is this available to existing customers? Could you provide an estimated break cost on 500k loan fixed for 2 yrs with approx 6 months left

    • AssociatedLen -Bundle Loans @ Bundle Property Home Loans on 04/03/2020 - 14:00

      No only new customers. ANZ has 2.68%. Pls call the bank and ask for a break cost quote.

  • motlking on 04/03/2020 - 14:06

    Any deals for 95% LVR?

    • AssociatedLen -Bundle Loans @ Bundle Property Home Loans on 04/03/2020 - 16:49

      yes but rates from approx 0.05% higher at other lenders subject to pricing approval

      • lazydesi on 04/03/2020 - 17:47

        need more info on this. i will be interested.

        thanks

  • Hero on 04/03/2020 - 18:12

    Any good deals for personal loans?

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