Browse Forums Home Finance Bank information 4Apr 10, 2007 3:21 pm Hi, this is my first post and I came here looking for ppl that have had the same trouble my partner and I have with our bank. I was amazed by the amount of paperwork involved (and paperwork is my business) for a transaction such as a home loan. I kept a log of document received and times etc, which I thought to be a little excessive but hey, it's what I do. Long story short, in the past few weeks, I have been given half a document package (missing a reply paid envelope with the important address on it), the bank has lost said documents, extended settlement date 3 times due to the banks errors, accordingly been charged by the vendor for default interest (now +$600!) and today, I get contacted by my conveyancer saying that the bank booked the settlement for tomorrow instead of today
Document everything. Record the time, recipient and intent of every phone call. Even though it is a pain in the backside, when things go to custard, you have something to fall back on. I have kept my team (conveyancer and mortgage broker) updated with everything even if it doesn't directly affect them. Needless to say, my banks relationship manager (nice title a*hole) will be getting a concise account of events peppered with disdain and contempt. This is just for the block of land. Can't wait to build the house. Jaded opinions are usually the loudest Re: First Home Buyer Q & A 5Apr 13, 2007 10:43 pm agree totally with the above post. similar happened to us. we recieved the loan contract, (addressed to 10doors up from us might i add) missing the copy that we were supppose to sign and send back in
they still havnt managed to get our postal address right "which bank" was that, or need i ask Re: First Home Buyer Q & A 6Apr 18, 2007 2:49 pm cobylee agree totally with the above post. similar happened to us. we recieved the loan contract, (addressed to 10doors up from us might i add) missing the copy that we were supppose to sign and send back in they still havnt managed to get our postal address right "which bank" was that, or need i ask In accordance with this little snippet: [quote=homeone]Post a reply Forum users are reminded defamation laws apply to discussion boards. Individuals are responsible for their postings, and can be traced very easily by IP address.[/quote] I don't know if it would be in my best interest to name names. I don't even know how many banks are west of us, so it may be too easy for ppl to draw assumptions Jaded opinions are usually the loudest Re: First Home Buyer Q & A 7Apr 28, 2007 11:12 am I think the posts above highlight why alternate lenders are gaining so much traction in the Australian market, and continue to go from strength to strength.
Frankly, anyone who just wanders up to their bank (who've they've been with for x years) and takes out whatever loan they offer, needs their head read. There are so many great deals out there, with companies that will overservice rather than underervice - I know what I would rather! My tip is to everyone (and although I've only bought one house) is shop around - and, if for some reason you 'want' to give you bank last chance, then front up and put it to them straight: I have been offered deal y with company z, and if you can no at least match what they're offering, I will take all my business away. You will be surprised what they can actually do. Even with existing loans! No consumer should feel any loyalty to any banking institution - their job is to make money off you! Working in insurance I see this everyday, and I know if I don't keep service levels up, clients will go elsewhere without a thought - unless you have displayed service 'above and beyond'. Sorry, just my 2c. Re: First Home Buyer Q & A 8Apr 29, 2007 1:10 pm yes there are banks and there are banks, some provide a good rate others great features, some with great service and some with a balanced combination Wayne www.alphamortgagesolutions.com.au info@alphamortgagesolutions.com.au Contact us for a free consultation for advice on how to structure your loan for maximum benefit Re: First Home Buyer Q & A 9May 25, 2007 6:26 pm EGGENZ 1. MAKE SURE IT HASN'T GOT TERMITES! 2. MAKE SURE THE PLUMBING WORKS. 3. MAKE SURE THE AIR CON. / HEATING WORKS. tHESE ARE JUST A FEW TRAPS i'VE FALLEN IN. PLEASE ADD TO THE LIST. EGGENZ 2004 1. Had a termite check..... came back clear... there were termites! 2. No taps in the house, the sellers 'in-laws' stole them all!! 3. Power was not on when we bought (vacant for a while) But sellers 'in-laws' stole the air/con remote. (They tried, but failed, to rip out the air-con)!!! Plus side, we did get the house cheap Not much in this responce. My suggestion is, what are you looking to build and why. This will all be impacted by the local councils planning scheme. Familiarise yourself… 6 5861 So it looks like we finally have some movement on site! Definitely later than expected, but I'll take any progress at this point. I'll drop by over the weekend to get… 5 27706 We already paid for somfy motors for the blinds. The quote above was purely for “pre-wiring” so the blinds company can install the motors and blinds. That’s why we… 5 16268 |