Browse Forums General Discussion 1 Oct 05, 2009 1:40 pm I've read many stories here that handover is delayed cos bank messed up and can't release the fund. My case seems the other way round!! I received final payment invoice from builder and just to find my home loan consultant started on long leave that day! We went to the branch for the progressive payment and the counter staff don't know how to do it. Ok after some effort a more experienced one sorted it out. I told them to have a bank cheque for the final payment. He said he would make a note in the system. I checked the other day from the hotline. Yes, the staff confirmed that there's the note and the bank is AWARE of that ( cheque payment). Today, I called the hotline again to see if the insurance cert has been received and how's the cheque can be collected. " THe final payment has been made electroncially." You all know it's No- no if the builder already gets the money b4 handover. I had endeavoured to check, monitor the bank's progress on my own ( cos the home loan consultant is on leave, no one follows our case or we being forwarded to another consultant). I think I am the " acting-home loan consultant" Sign.... What should I do? Thanks a lot! What I worry most is if I find major things to be fixed at handover, then... Re: Help!Bank messed thing up! 2Oct 06, 2009 9:28 am Geez, there are some idiots around. Things may still go smoothly, they may not. I would spend some time making records of who you spoke to at the bank, and when. Then write a letter, and send it registered post explaining the mistake they've made, and what the possible problems are. The bank has transferred money out of your account without your consent- a very serious issue. I would argue that if delays or problems are encountered the bank is responsible for correcting them. I think there is a banking industry ombudsman available but ombudsmen usually will only intervene if you have tried and been unsuccessful in resolving it with the bank, and if you have not begun legal action. Keep records of everything, write down your phone calls, photocopy letters before sending and use registered post. One of the good things about registered post is that it will let the bank know you are serious. Good luck. Re: Help!Bank messed thing up! 3Oct 06, 2009 10:06 am hey your bank wouldnt happen to be the commbank would it!! we had the same trouble with them. nobody in the branches has a clue. we went in to pay our loan at the branch and the teller didnt understand we wanted only to pay the monthly intrest on the loan. she says " ow yes that is $***,000 would you be paying that today?" we said ummmm no. Im changing banks as soon as i can . they pay late and we get panilised , they go on holidays and not tell anyone and then no one will help you when they are away because you are the other persons cliant. Re: Help!Bank messed thing up! 5Oct 06, 2009 11:16 am I agree with Ari to ask, but not sure if they would be able to do it. In the past I have a had a few issues with banks I paid a fee for transferring a certain amount of money on a certain future date. It was transferred straight away. I complained got fee (as they did not do what I had paid them to do) plus compensation to cover the lost interest/hassle Purchased a place with an offset mortgage, the main issue is that they did not link the accounts so we were seriously paying too much interest, (this was the main issue of many) It took several months, many phone calls and eventually a long letter detailing all what had happened. The interest was sorted out, fee repaid and as way of compensation the annual fee was refunded. In my experience, it's always a lot of hassle, having to find the right person who can take responsibility & action - as stated write down the details, quote what in in the mortgage agreement of what they should be doing, ask for fees to be refunded for services you feel are not being carried out, and refund interest the bank is bound to be charging you from the date they decided to transfer the money rather than when it should have been done. And last of all - all the best 1 361 How much are you ahead in payments compared to where the build is at? Have you fully drawn down the loan? 5 11916 Hi there, long-time lurker but first time posting. I've bought a house 2 and a bit years ago and last year we had some major water damage on a converted pergola area… 0 7931 |