Westpac and the whole back to the bank manager spiel

Hi Guys,
              Just curious to know more about the Westpac campaign to give power back to the bank manager.  How much power do they have?  Is it just an ad campaign?  Are they approving loans or do they still go to town for approval?

Yur kidding me arent you.

They have no approval authority at all and is merely a glorified senior teller role.

Sure they can prepare your application and push the majic send button but if it is has a negative credit score or declined by an assesor then that is as far as it goes.

And with the way Westpac are at the moment being short of funds the credit score and UMI serviceability has been cranked up so that many deals that would have been done in the old days are now declined.

Richard Taylor - richard@tayloredfinancialsolutions.com.au Tel: 07 3720 1888
Residential Mortgage Broker providing structured home loan advice for investors and owner occupiers all over Australia.
Thinking of buying your next investment property using a SMSF. Email me for a copy of my SMSF EBook.

Thanks Richard.  Was just curious to see if it was a marketing stunt or not.

Hate to say Yes.

Richard Taylor - richard@tayloredfinancialsolutions.com.au Tel: 07 3720 1888
Residential Mortgage Broker providing structured home loan advice for investors and owner occupiers all over Australia.
Thinking of buying your next investment property using a SMSF. Email me for a copy of my SMSF EBook.

Thanks for that Richard.

They have as much approval authority as you and me :)  Every few years a bank runs a campaign similar to this.  Reality is  Richard is right!

Spiro Kolokithas - What If We Finance Tel: 03 8804 1354
www.melbournemortgage.com.au
see the possibilities...