I have recently restructured my 3 properties and refinancing and purchasing another, so far so good.
Restructure went without a hitch, then a bank that I have been dealing with for the last 12 months goes through all the paper work that I sent in and said that loan can go conditional on Monday providing I supply rent statements and they ring my employer…no problems all sent in.[biggrin]
Monday comes then they say there is a default with AMP on your file please explain…I have never dealt with AMP so don’t know what is going on and order a copy of my CRA. Nothing on CRA clean as a whistle so ask the bank to check, they say typo and was my husband that had a default with Esanda. Rang Esanda they send a fax to say hubby has a SGA rating which is the highest rating obtainable blah blah blah. Esanda say happy to talk to ANZ and there is no way that they have put anything on CRA (as hubby valued client), and said perhaps that ANZ looking at wrong file!!![angry2].
Time has now gone into another week and still not conditional.
Just don’t understand how ANZ can stuff around for a week prob looking at the wrong file and the fact that I have been a client making mortgage payments on time and in front and they seem to treat you like your a first timer…
Makes me mad, thanks for that feel better now after hammering the keyboard!
Jenny1
hi Jenny1
Your post is very interesting and the reason that I recommend that you don’t put your lend thru the same lender.
The first question I ask is what lender do you use currently use and then I don’t pitch to them.
I broker to my client base and each broker must understand there client and his/her lenders.
sorry I don’t external broker but a broker here will be able to do the same.here to help
Hi Grossrealisation
I have gone through a broker (recommended from this forum)and he was great for the restructuring, I just don’t know what happened in the 2nd part.
There has been a bit of pressure with the 2nd part as the plan was that I get approval 1st then find another property. I found another property before this was in place, causing stress all around.
Jenny1
hi Jenny1
sorry but I drink single malt scotch the pressure never goes away.
If you don’t like the heat don’t become a chef.
As for the second ip put it down to learning we all learn.
Currently I got 72 mil on my shoulders and I don’t loose sleep.
When you come into my world then tell me you can’t take pressure.
and reading your post the broker was great so work with him.here to help
GR….you have been a busy boy.
Let me try and understand your world…you believe that ;
1. Jenny can solve her mystery AMP credit blip by informing her that you drink single malt scotch ??
2. If she can’t figure out what’s going on – she should stop being a chef ??
3. Warren Buffett makes 72 million profit every single day and also sleeps very well….what’s your point ?? Do you believe Jenny’s blip will be solved by scale ?? Should she buy the AMP ??The reason I say try and understand is I need to slip into my “oops, reading GR post, slip on anti-foggle woggle headgear” and decipher.
Cheers,
Dazzling
“No point having a cake if you can’t eat it.”
ROFLMAO Dazling! [lmao]
Sorry Jenny I can’t help. I can empathise. Similar kinds of things have happened when dealing with another major bank. I think that ‘on hold’ music they make you listen to for half an hour, is especially selected in the hope you will hang up. And why do they always ask ‘what was the name of the person you spoke to last time you contacted us?’ ….yeah right[rolleyesanim]
It irks me that you cannot meet these people face to face. It is always faceless phoning. Nothing beats walking into a branch or business and refusing to budge till you get the service you desire.
Jenny,
Ask your broker to call his BDM at ANZ and get it sorted out immediately – no doubt he is well onto it already . Have him tell them that you are speaking to the banking ombudsman about it.
If you are correct (and no doubt you are) then this should be sorted out very quickly once the right people are on the job.
All the best,
Cheers,
Simon Macks
Residential and Commercial Finance Broker[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Hi GR and Dazzling
I don’t drink single malt yet…but I could be pursuaded as it is pure frustration with some processes that get up your nose.
I might have to look at just walking away from a deal, but I know if I have done my homework, figures etc taking the risk (the bank takes none as it holds you by the balls), and some pimply faced kid pushes the wrong button and gets wrong info it all turns to sh**!
Thank you Simon for your good info, no I won’t start drinking, I will use this forum for therapy-better for the liver too!
Thanks again all
Jenny1
Hi Jenny,
I agree with Simon, hopefully your broker is pulling out all stops to have this mix-up rectified pronto,
Best of luck with it all, Cheers.Regards
Steven
Mortgage BrokerMobile Mortgage Market
Ph: 0402 483 216
[email protected]
http://www.mobilemortgagemarket.com.auPLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.
Dear Jennyl,
Focuss on what you can do. Call your broker, make him aware of the possibility you could loose the next deal. Have him put urgency on ANZ (possibly with mention of ombudsman)and give them a deadline to sort it out. Unless people have been given a timeframe/deadline, they decide for themselves how urgent jobs are… Be friendly but firm & specific.Do well!
Erik Reurts
Micah Finance Solutions
http://www.micah.com.auHi Jenny
This forum obviously serves many purposes, but it’s great to be able to put things into perspective. If nothing else, after suffering a series of frustrations, you can be assured of getting a range of responses that can put a smile on your face.
BTW how is your keyboard? Oh also, if you find things get up your nose you’re better off drinking scotch than champagne [grad].
On a more serious note, Simon’s suggestion with reference to the ombudsman is a good practical one.
Best of luck.
pr
Hi pete r
Your right about champagne the bubbles would get up my nose, for a different reason.
Love the forum responses they are so varied and I quietly have a smile when I read them on my own..hope no one is watching me!
Always have a sense of humour is my bizarre way of dealing with life.
Yep I take on board what is said but get enough info from the forum to make up my mind on the problem. A problem shared is a problem halved.
Thanks for replying
Jenny1
Hi Jenny,
I think everyone has a story of misfortune with a bank of some sort which is unfortunate. My parents recently travelled 100km’s to thier nearest branch to sign docs on a new ip mortgage only for the bank to advise they hads lost the papers the next day (day before settlement i might add) needless to say there was a lot of running around done by my parents to sort out the problem.
Now I’m going to share with you a dark secret… I work for a bank. I know I know, but it pays the bills. I’ve worked at three different banks in NZ and Australia over the last 6 years. From my experience, there is so much paper in the banks thats its no wonder some things get lost, or with the thousands of staff they have that mistakes are made. Human error is a problem.
Yes the banking Ombudsman threat is a good one (I would suggest following it through too) but before going to the ombudsman you need to make a formal complaint at the bank you are dealing with. Usually this can be done by phone and the details are sent to the disputes department where a group of very very patient people deal with complaints all day.
Can I suggest, even if you are going through a broker, get the name and direct phone number of the personal banker who will “own” your banking and CALL them. If you are able to, then pay them a visit. They will have the internal contacts to follow up any issues as soon as possible. Banking staff churn from one dept to the next, so chances are they will know someone or have a good relationship with a person in that team and try to call in a favour to get it fixed asap.
I realise this is probably a bit late for your current situation, but dont think it can’t happen again in the future. I’m a bit of a control freak so I follow up every step of the way, if I am not contacted on the day they said they will get back to me, I’m on the phone or emailing straight away.
I hope everything has been sorted out for you by now [hair2]
hi Jenny1
I read with interest the post but in the end did you get it sorted out.
Having read most of the post, flip past dazzlings one,
Did you organise a broker to deal with these issues they usually work in your interests.
I read the post also for a laugh depending oon the subject.
I would also look at funding outside the 4 main banks, the rates are very similar and the operation of there processing is alot different try not to put all your lending with one institution ( the broker should explain this)
hope all goes wellhere to help
Hi dohicky
How lovely of you to tell your dark secret, I don’t blame anyone really it was always about frustration..
I am I admit that I am a bit of a detailer but then we ought to remember that not everyone shares our depth of detail.
The main refinance is with another lender (it was the bigger of the two loans and went without a hitch) the second part was just refinancing current property to buy another. I would have thought that this one would be the easiest especially since I have been with them on 12 months now.
Even today (we are have real problems with phones and they are being upgraded with calls not able to be recvd or ring out) and the bank is still insisting that they want to talk personally to my employer (I have been at current place 3 years!)[angry2] Broker told me when they speak to employer (if they can get through) then I get the loan[biggrin][biggrin]
Patience is a virtue…so they say
Cheers
Jenny1
Hi Jenny
What happened with the default? It maybe that there may be another person with the same name as your husband. Should have probably supplied them with a copy of your CRAAs for additional proof.
Terryw
Discover Home Loans
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Hi Terry
It sometimes is never easy.
I got a copy of my CRA clean as a whistle ANZ said it wasn’t me but Esanda for hubby. Hubby rang Esanda and they said not them as hubby got SGA rating highest they give there clients for being a good client etc etc and they faxed a letter to that effect and said that like yourself ANZ prob looking at the wrong file![angry2]
CRA not a probem, the loan is cleared right through to the part of speaking to my employer…that would be easy but the phone system crashed 2 weeks ago and can’t call in or out. My employer said they are happy to be called on mob and even wrote me a letter stating the phone prob.
I then went into the bank as only 100 mtrs up the road to ask if someone would visit my employer (showed then the letter)they said no as broker deal!!! Couldn’t believe it, broker then refused to answer email, sms, phone etc and had not heard from him since Wednesday.
This is most frustrating especially since I am already a client of ANZ and the fact is that I have worked at same place for 3 years..
This is better than days of our lives..so I sacked the broker advised him he is not acting for me any longer, rang ANZ home lender and now they are picking up the ball where the broker left off..the scary thing is that settlement is on the 8 September and I haven’t got any paperwork.
With all of this mucking around since the 18 Aug and getting the deal this far I would love to tell ANZ to stick it! But unfortunately time has run out.
this has all been very stressfull when there should of been no reason why it has taken so long and the bank did stuff me around..
Cheers
Jenny1
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