Had coffee with a mortgage broker mate of mine this morning. Anyway Homeside have taken 6 weeks with an application that was subject to finance. Now the property is back on the market. Client is devastated. Poor bugger gets married on Saturday.
Now from what I understand this was a 300K loan with 10% deposit and an income of about 100K servicing it.
This is surely a disgrace on Homeside’s part.
For a mate of mine 8 weeks ago we went straight to NAB at 95% LVR, non genuine savings and he got it approved with 4 days.
Is this the end of the broking space? Are the banks trying to get rid of the broker channel.