An organisation i am aware of had a commercial loan with bank west for last 5 years...lvr was 40% so very low.
They have the income etc ,yet when their loan came to be renewed, bank west took them off the fixed rate of 7% and jacked it to over 9%...
so the organisation went elsewhere and got a loan at 7.3%...
i would have thought that banks were looking for low risk customers....not happy to let them go????
bank west lost out
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