I have heard that as well iambored, seems to be a common thing with some of the brokers I have spoken too in the past, “they take a very long time to process”.
Apart from that I hadn’t heard much else negative about them.
Spent a month searching the finance options. Just financed with St George, priced everyone else, 3 brokers said they couldn’t beat the St George deal. Couldn’t fault STG with service, communications, flexibility. Not pro-active though, I had to know all the options and ask myself. PM me if you want a contact there.
cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Hope this data helps someone.
St George. Commercial loan for purchase of motel. 7.42% P&I 10 years with LOC 7.92%. Actual LVR 54% , limit of 60%. No entry fees. $600 p.a. a/c fees, $350 break cost. Had to pay commercial int rates unfortunately. Wish I had known before that if you use res prop as security to buy commercial, you get res loan rates. I keep thinking the incline on the learning curve is reducing until I can see more curve.
good luck
cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Don’t have residential equity, yet. Watch this space.[biggrin]
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Originally posted by Still in School:Hi Guys,
just curious a little bit about St George… their bank and their lending capacity, has put them into a highly geared insitution, but also in a vunerable position.
… what worries me is, that and based on my own research and analytic assumptions(this is only an opinion and should not be taken the wrong way) that i can honestly see a take over bid from some of the stronger lenders and bank insitutions like CBA and NAB with in the next 18 months…
… does anyone see, this as a significant problem, in the later future???
Cheers,
sisNope i dont think so…… NAB sold there SGB holdings down as far as Im aware (to beef up their last bad results). CBA on the other hand could but i dont think Murray would commit as the SGB exposure would then become CBA’s exposure.
CBA will be happy just trying to get back to double digit growth implementing their new customer and computer systems changes that they commenced within the last twelve months and gaining more value from the Colonial funds side.
I don’t think anyone will buy St George, for a couple of reasons. The main one is that there shares are more relativly more expensive compared to other banks (they might not be actually more expensive, but when you take into account size and assets yes there shares are higher over the banks). Also NAB and CBA are out of action for a while (com bank because of colonial and NAB because they sold their shares to show mum & dad investors – we’ve made XX amount this yr!). I reckon a good fit for St George would be ANZ or CitiBank. ANZ because there culd be lots of costs savings and they have similar cultures and CitiBank because they have bought other banks with large no. of branches and St George could use their $$$ to be even more competitive.
Of course this dosne’t answer the question, but hay – it’s fun to think about stuff like this.
Rgds.
Lucifer_auANZ just bought up NBNZ and are concentrating on their funds management.
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