MY BANK LOVES ME … MY BANK LOVES ME NOT …
Do you ever feel unappreciated when your Bank advertises amazing Home Loan deals to attract New Customers but does not offer the same amazing deals to their existing customers.
This is what we commonly refer to as the “Loyalty Tax”.
How can you make your Bank “Show you the Love” and offer you massive discounts off your Home Loan Interest Rates & Loan Fees ?
The simple answer is …
- Tell your Bank you wish to stay but are prepared to take your business elsewhere
- Contact your Bank via the telephone number on your Loan Statement (i.e. NOT your local Bank Manager) to ensure you are connected to the “Client Retention Department” as this department actually has the authority to “Do what it takes to retain your business”
- Tell your Bank of the amazing deals which are available with other Banks
- Pause on the phone for 10 seconds and watch the Bank work their tails off to “Show you the Love”.
Why will my Bank listen to me ?
- All Banks are very well aware that it costs far less to authorise discounts to retain an existing customer, then the costs involved to attract new clients
- There is no benefit to be achieved by the Bank if they attract 5 new customers whilst at the same time also losing 5 existing customers
- Your Bank is prepared to authorise discounts for the few customers who actually take the time to ask, as this is only a small expense compared to the huge profits your bank will continue to earn off the vast majority of customers who are not prepared to ask.
If your Bank does not appear to value your business or you are not “Feeling the Love” please click on contact our Mortgage Specialists on 07 5527 4744 as we don’t work for the Bank … WE WORK FOR YOU .
The Government Regulator (APRA) has thrown the cat amongst the pigeons within the Banking Industry by making major & immediate changes to the Investment Credit Policies & Lending Requirements for Banks.
The impact of these changes will vary significantly from Bank to Bank due to APRA introducing different rules & requirements for each Lender. The result of such variances is creating vastly different responses by each individual Bank with several being forced to increase interest rates on Investment Property Loans whilst others are having to reduce the maximum loan amounts they can lend to Investors. Other Banks are taking a different tact by seeking to encourage new Home Loans from Owner Occupiers by offering lower Interest Rates for Owner Occupier Home Loans and offering new Home Loan customers of up to “$2,000.00 Cash Back”.
With even more changes anticipated over the next few weeks there are plenty of reasons for Borrowers to be both concerned and excited however it is vital to KEEP AN EYE ON YOUR HOME LOAN and INVESTMENT PROPERTY LOAN as the Banks are making changes on a daily basis and whilst there will be amazing opportunities available there will also be many potential pitfalls to be wary of.
If you wish to discuss how you can navigate your way through all the confusion & ongoing changes please contact our experienced Mortgage Specialists.
Thank you so very much to all for your wonderful support.
Here we are heading out once again to deliver more Apple Watches to our clients who have kindly recommended several of their family & friends to DPF Mortgage Specialists.
As a result of your wonderful support we will be continuing to reward our clients with a new Apple Watch until 30th September 2015.
If you would like to receive a new Apple Watch all you need to do is:
- Recommend 2 new clients who proceed with new Home Loans with DPF Mortgage Specialists between 1st May 2015 – 30th September 2015 .
- Take out a new Home Loan with DPF Mortgage Specialist and recommend a new client who proceeds with a new Home Loan with DPF Mortgage Specialists between 1st of May 2015 – 30th September 2015.
Please click on “Contact Us” or telephone 07 55274744 if you wish to know more.