One is a hard-working layperson.
The other is an equally hard-working person, a Medical Practitioner or Dental Practitioner, Optometrist, Veterinary Practitioner, Anaesthetist, Dermatologist, GP, Paediatric Practitioner, Obstetrician, Physician, Ophthalmologist, Psychiatrist, Radiation Oncologist, Radiologist, Surgeon, Solicitor, Barrister, QC, Judge, Partner in large Law Firm, Partner in large Accounting Firm, … and the list goes on.
Same income. Same loan amount. Same property dollar value, same suburb, same street. Same serviceability calculator assessment. Same debt to income ratio. Same credit score. But different social class and employment profession.
The hard-working layperson is excluded by the lender from being eligible for mortgage insurance waivers, and larger interest rate discounts than those afforded by the lender for their preferred BIG Club customers.
Hard-working layperson, next time you are at your bank, the one that you love so much and brag on about, how about asking them to return some of that love with a mortgage insurance waiver and a larger discount on your loan, like they freely afford their BIG Club customers with.
Then watch in amusement what the response would be. In equal amusement, tell them you are going elsewhere where you would be appreciated and cared for as much as their next customer and see what their, ahem, amusing response would be.
It’s a BIG Club & You Ain’t In It!