Forum Replies Created
Ahoy Qlds007
in this thread you mentioned…
"Guess question would be why are you looking at going through Bank West whilst their special offer appears attractive on the surface from my experience you will have issues down the track."
that sent a bit of a shiver up me spine, as i have loan with Bankwest… can you please expand on the ….'issues down the track bit"…with much thanks
SilverSurferHi Kokjhoonwong
re: rolling loans over to new lenders
Yes, been there, had that experience, switching from NAB to ANZ last year.
the sting in the tails was – NAB hit us with the 'penalty interest rate" because the loan went over term (5 years) by about 6 weeks – they just took the cash out of our operating account!! (they can't do that, well they did!! – check your loan docs, ours was a loan over commercial property – and a penalty interest rate clause is always in there). Each bank blamed each other for delays – and they were both right. After heaps of effort, we clawed some of the penalty interest charge back from the NAB… but no fun.conclusion: in future, i will anticipate a delay+costs in rolling over a loan – and perhaps stay with a/the slightly more expensiive exisiting lender.
Silversurfer
waxhead rule #2 – think about falling, and you will.
