ANZ has just sent out new marketing material “Leave work early”. Basically they want to increase the amount of money they lend me to buy investment property so long term I can leave work early
.The funny thing is at the height of the boom 6-8 months ago it was so painfull to get more money out of them and they still “valued” the property at 15-20% under Real market value.
Has anyone else received this type of marketing material from there banks.
Has anyone increased their equity lately from the highest valuations of last year if they were already at maximum borrowing levels?
[My spin on it is St George bank increased profits the most of the major banks and has maintianed their revenue forecasts in the double digit area. The 4 majors have single digit growth forecasts and are very conservative on future revenue streams and they want more of the housing market share.]
SuperTed, is this just a marketing exercise or is there a change in policy at ANZ to be more aggressive in the housing market?? ie servicevability criteria etc
Would have thought that most banks being the conservative organisations they are, would be less inclined to pursuing market share in the housing investment market now…
James
I’ve received the 2-bob watch from ANZ as well with their advertising. Can’t say a cheap gift like that has swayed me to take an investment loan out with them anytime soon [laughing]
Originally posted by sizzling_duck:I’ve received the 2-bob watch from ANZ as well with their advertising. Can’t say a cheap gift like that has swayed me to take an investment loan out with them anytime soon [laughing]
LoL want another one? [biggrin]
Georgisj I think both, Banks have to perform for shareholders. St George has been the best performer but is also the most exposed should a collapse/downturn happen as its ridden house lending the hardest but its shareprice is holding with this exposure. Kinda Catch22. Plus for ANZ (or any business) its always easier to max out/up sell an existing customer then to get new ones.
I would like to know who is the major insurer that has underwritten all the mortgage insurance policies for SGB and SUNcorp[cap]
i just did a top up loan on my LOC, the bank gave me another 26k to play with, using the valuation that was done during late last year! no major problems or anything.
am now pestering the hell out of afloat about buying properties in the UK.
money, money, money,,, its so funny.. in a rich mans world!
will speak to you all soon
cheers
shaunLead, Follow or get out of the bloody way
Super ted, i’m not convinced the big 4 are too worried about the dragon…its a pretty big pie.
Maybe anz are advertising to attract additional high net worth customers with low existing commitments….
cheers
brahms
If you don’t ask, the answer is no!!
Originally posted by brahms:Super ted, i’m not convinced the big 4 are too worried about the dragon…its a pretty big pie.
Maybe anz are advertising to attract additional high net worth customers with low existing commitments….
cheers
brahms
If you don’t ask, the answer is no!!
Its more the banks are scared of their shareholders and they are the ones they have to perform for. SGB has performed with their property lending strategy giving them double digit growth. I think ANZ bank wants some more of the property pie to get the magical double digit growth.
Sorry thats what i meant , i am not clear sometimes in my writing.
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