Dazzling, I though I had a good relationship with the nightmare bank, but they just ended up being more trouble than what they were worth. the staff have actually contacted me a few times to see if I would be interested in coming back but unfortunately I cant see it happening in the near future.
C2
Which bank lost me because of their costly fees and charges. When I went to close my account they asked why and after I had explained they said oh we can match that – too late.
They were more than happy to rip me off in the meantime and were now offering zero fees and charges to keep my account.
I know it’s not a big issue but it’s the culture and mindset that annoys me.
You are right It’s a throat slashing frenzy although it’s all a business transaction and if it wasn’t the bank it would be some other money supplier.
It’s just the supply and demand theory again, and money is in demand..
Roy H.
L.R.E.A., Dip FS (FP)Guardian Property Specialists (GPS) is a research-focused company that specialises in sourcing and providing residential investment properties Australia wide!
Originally posted by lifeX:The banks drive me crazy.
It is so frustrating as a little guy when so much of your own money hangs in the balance waiting on an unreliable paper trail.
I feel for you Redwing.
Possibly you could chase down the person at the bank A who claimed to have sent package to bank B (the person who processed loan discharge OR the bank A’s lawyers who processed loan discharge). They must have used registered post or a courier and have a document that confirms it was sent. If they can’t produce a document to proove that they fulfilled their responsibility to send cert. of title to Bank B within a reasonable timeframe for your review (I’d give them 24hours) then impress upon them that if they can’t get a stat dec ASAP, then you will have no choice but to sue the bank for the potential loss you could have at settlement.
Or potentially contact a property lawyer who may well know who is at fault and help with legal action type leverage on the bank.
Good luck.
Very good advice. It helps a lot if a problem like the comes up to go into the bank with a good plan & armed with as much leverage as you can. And stick to your guns. It’s amazing how much “hope” you have a place on dealing with situations with banks.
Being in the real estate game, you want to stay away from replying on “hope”.Good luck from me as well.
I have heard this many times with financial instistutions when re-financing my wife works in finance and gets it all the time its because they dont like business going to someone else oops! we’ve seemed to of lost it or yes we faxed it or yes we sent it days ago or its in the mail.
Coreyjay
Sounds Like a job for the banking Ombudsman C2.
Yes Home Loans Pty Ltd
Is your mortgage advisor accredited with the “Non Bank Lender of the Year?”
(Money Magazine 2005).[sweaty][sweaty]
Now bank C are making us sweat, it appears there was a problem at their end (according to their solicitors)with the way the documents were written and new ones have to be sent to us..They should get here..you guessed it..settlement day..
Just found out..
I’ll be glad when it’s all over..
[dunny]
REDWING“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorI have heard from several Real Estate Agents and solicitors in Canberra about delays etc during settlement processes that which bank cannot be relied upon to do things on time. Hmmmm interesting!!
MIT | Owen Real Estate
Email MeHere’s a suggestion…
Use a broker, make him do all the running around. They should be pretty good as this is where their income comes from and you can blame them if it does not flow through as you need it to.Regards,
Erik Reurts
Micah Finance Solutions
http://www.micah.com.auLB, Which part do you think it’s a job for the banking ombudsman? The ‘it’s not my problem’ answer, the phone calls to get me back or the whole process.
C2
Rich in happiness and money is better than rich in money with no happiness.
I agree with micah, you got to have a broker that would flip over backwards for your business and from what I know Erik from Micah does just that.
Roy H.
L.R.E.A., Dip FS (FP)Guardian Property Specialists (GPS) is a research-focused company that specialises in sourcing and providing residential investment properties Australia wide!
Originally posted by redwing:Who are the better Non-Bank Lenders ?
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorHi Redwing
I don’t want to advertise, but the mob I work for is currently Money Magazine’s Non Bank Lender of the year” (Same award that made ANZ Bank of the year). We are all pretty proud of that
.Yes Home Loans Pty Ltd
Is your mortgage advisor accredited with the “Non Bank Lender of the Year?”
(Money Magazine 2005).Hi C2
Originally posted by C2:LB, Which part do you think it’s a job for the banking ombudsman? The ‘it’s not my problem’ answer, the phone calls to get me back or the whole process.
C2
Rich in happiness and money is better than rich in money with no happiness.
It sounds like they have sorted it all out, but banks hate the ombudsman. Banks have a duty of care to their customers (I know, sounds halaroius), and he is there to ensure they live up to it.
Yes Home Loans Pty Ltd
Is your mortgage advisor accredited with the “Non Bank Lender of the Year?”
(Money Magazine 2005).I’ve heard that you probably wont get much joy from the ombudsman in any case…but I believe it costs the banks to defend the action..?
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorWhat State are you in? Are you sure there was a Title in existence to begin with? I have a legal background – in conveyancing that is – and here in Queensland each time a transaction proceeds now i.e. a sale,the Certificate of Title is put on disk at Department of Natural Resources and is therefore not in existence, only on micro-film. We can apply – Form 19 I think it is for an Application for Title which is just a copy. Should check it out. One of the other emails just prompted this thought saying how did they settle without the CT, because if it was actually in existence, they couldn’t have settled.
To the people talking about non-bank lenders, can I have some referrals of any good ones. We have 3 properties through a Bank at present, but next property would like to keep some eggs out of that basket so to speak.
thanks and good luck in finding that title.
Hi Shelley..
WA
I believe you only ever get a copy anyhow..
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorDear Redwing,
Yes, now we do in Queensland that is, but many yeras ago if you owned your property or whoever hend the mortgage i.e. the bank, we used to have these great big peices of cardboard like titles and each time the property passed hands, the new owners name went on it. The only reason I am telling you this is that there were a few stories going around that when people finally paid off the first home loan in their 60’s they were getting very excited and setting them alight on the bbq that night!!!!
Dear Dazzling,
In relation to half wit juniors, wet behind the ears etc, thought I was tell you that we have around $700K worth of mortgages to our Bank and I recently had a call from one of “the above people” scalding me from going over my credit card limit last month by $6.00!
.
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